Thompson Tee Net Worth
The net worth of Thompson Tee’s founders Billy Thompson and Randy Choi is $22.5 million as of 2022. The company was valued at $10 million during its Shark Tank pitch and had lifetime sales of $2.6 million as of 2023.
According to one source, the company had $4 million in sales the year before it appeared on Shark Tank.
What is Thompson Tee? Who is the founder of Thompson Tee?
Thompson Tee is a company based in the United States that produces and sells sweat-proof t-shirts for both men and women. These t-shirts are specifically designed to prevent yellow stains, sweat, or odor from penetrating the fabric by allowing sweat to exit as vapor.
The founder of Thompson Tee is Billy Thompson, who was motivated to create the product because of his personal experience with hyperhidrosis, a condition characterized by excessive underarm perspiration.
Along with his friend and fashion designer, Randy Choi, Thompson worked to develop and patent the Hydro-Shield sweat-resistant technology that they received in 2014.
Thompson Tee products are available for purchase on Amazon and the company’s website, and they are all manufactured in the United States of America.
Thompson Tee Shark Tank pitch
Billy Thompson and Randy Choi from Thompson Tee, a company that produces sweat-wicking t-shirts, made an appearance on Shark Tank (episode 824) to seek a $700,000 investment in exchange for a 7% stake in the company, which they valued at $10 million.
During the pitch, they shared their personal stories and gave free samples to the Sharks. The Sharks were interested in the company’s financials, discovering that the t-shirts cost $8.50 to manufacture and retail for $25 to $30.
The company made $90,000 in sales during the first year of operation and projected $4 million in earnings in the fifth year. The investment was intended to help bring production in-house.
However, some Sharks had concerns about the company’s valuation and plans for the future, which resulted in Daymond, Kevin, and Mark withdrawing from the deal.
Robert expressed interest and offered $700,000 in exchange for a 25% equity stake. Lori also opted out of the deal.
Subsequently, Kevin returned with a proposal for a loan of $700,000 at an 18% interest rate in return for a 7% equity stake in the company. Billy and Randy accepted Robert’s offer and left the pitch with a deal.
Following its appearance on Shark Tank, Thompson Tee continued to expand and grow its business. However, they did not move forward with the investment deal with Robert, as it was not deemed necessary for the company’s growth.
The company achieved significant sales milestones, earning $9 million in 2017 and selling one million t-shirts by March 2019. As of February 2022, the company is still operational with an estimated yearly revenue of $10 million.
Net Worth of Thompson Tee
The net worth of Thompson Tee at the time of their Shark Tank pitch was valued at $10 million. Since then, the company has continued to operate and may have a higher net worth, but that information is unavailable.
Competitors of Thompson Tee
Thompson Tee has many competitors in the market space. These are; The Home T, Undergear&, Junk Food Clothing, The Mountain, Michael Stars, The Icebox, Cheap Tees Screen Printing, and Eton.
Thompson Tee FAQs
What is Thompson Tee?
Thompson Tee is a full-service American firm that creates men’s and women’s sweat-proof tee-shirts.
Who is the founder?
Billy Thompson founded the company. Thompson was inspired to create the product due to his own experience with hyperhidrosis, or excessive underarm perspiration.
How much were they seeking on Shark Tank?
They were seeking $700,000 for a 7% stake in the company.
Did they have the deal?
Yes, they had the deal with Robert.
How much was the deal?
Robert offered $700,000 for 25% equity shares of the company.
Is Thompson Tee still in business?
Yes, the company is still in business as of February 2022.
What are the products offered by Thompson Tee?
The company offers its tees on Amazon and directly through its website. Each tee shirt ranges in price from $25 to $32.
Where is Thompson Tee based?
Thompson Tee is based in New York City, New York.
What is the mission of Thompson Tee?
Thompson Tee’s mission is to protect the outerwear from the embarrassment of dirty, yellow sweat stains. They utilize Hyper Shield technology to prevent yellow stains, sweat and stink from soaking through your outer shirt.
How does the return policy work?
The purchase is RISK-FREE! They gladly accept returns on any opened or worn Thompson Tees for 30 days from the date of purchase, so feel free to wear and wash them! To view their comprehensive Returns policy.
Whom can I contact regarding my order?
Kindly write an email to [email protected] with any issues. Their first concern is customers’ 100% pleasure! Please contact us at any moment!
What is the cost of shipping?
All domestic orders over $50 qualify for free delivery. All foreign orders are subject to standard USPS and FedEx delivery fees. Visit their Shipping and Deliveries page for further information on international shipping.
Where can I purchase a Thompson T-shirt?
Customers may purchase a Thompson Tee on their website and on Amazon in the United States, Canada, and the United Kingdom.
Is there a risk-free trial period with Thompson Tee?
Yes! They gladly accept returns on all opened or used Thompson Tees for 30 days from the date of purchase. Customers are welcome to wear, wash, and experiment with it!
Is it possible to wear the undershirt straight from the package?
They recommend cleaning all items, particularly undergarments, before wearing them for the first time. This tightens the fibers even further, making them softer and comfier. However, because we utilize such high-quality, ultra-soft fabric, their undershirts are comfortable straight out of the packaging.
Can I sleep in the undershirt overnight?
They do not advocate sleeping in the Thompson Tee with Hydro-Shield Perspiration Proof Technology overnight, as underarm sweat is often non-existent while sleeping.
The Thompson Tee is a utilitarian garment. While sleeping in it is not an issue, they offer advice to enhance utility and minimize natural wear and tear, extending the shirt’s overall quality.
What is the mechanism of action of the Thompson Tee Hydro Shield sweat-proof barrier?
Their patented layering technology traps air pockets and promotes reverse osmosis, vaporizing perspiration and leaving them cool and dry.
What material is used to construct the underarm barrier?
Their integrated sweat-proof barrier is constructed using a stitching and layering method that combines a looped-knit fabric that absorbs sweat with an ultra-thin medical-grade film that prevents it from seeping through.
What distinguishes Thompson Tee from wearing a standard undershirt beneath my dress shirt?
They guarantee that no amount of perspiration will penetrate their sweat-proof barrier! Consider the following YouTube video as proof!
Is Thompson Tee offers a variety of color choices?
All Original Fit Thompson Tees for men and women are available in white, black, heather grey, and beige. All Slim Fit Thompson Tees for men and women are available in white and black.
Is Thompson Tee offers a variety of neckline variations?
Thompson Tees for men are available in crewneck, V-neck, and deep V-neck necklines. Currently, women’s Thompson Tees are only available in scoop neck.
Is the Thompson Tee readily tucked in?
Their shirts are longer in the back to help them stay tucked in without bunching. Other undershirts, such as Kleinert’s and Sweat shield, are longer, but Thompson Tee’s, according to one reviewer, are even longer.
Will wearing the Thompson Tee beneath my shirt make me feel disgusting or hot?
No, not. Once the sweat shields have absorbed the sweat, their patented layering technique produces air spaces. It allows reverse osmosis, which releases perspiration as vapor and a sensation of comfort and dryness.
Is the Thompson Tee a natural antiperspirant?
Yes! While most moisture-wicking fabrics are treated with harsh chemicals that wash out after a few washes, Thompson Tees are created with natural bamboo rayon and superior combed cotton.
Not only do they outlast other undershirts in terms of durability, but their sweat-absorbing properties also extend far beyond a few washes.
What is the net worth of Billy Thompson?
Billy Thompson’s net worth: $1.4 million.
