TITIN Weighted Shirt Shark Tank Net Worth 2023
The company valuation was estimated to be 10 million dollars during its pitch for investment, however after Daymond’s investment in the company, the worth decreased drastically to 2.5 million dollars.
Subsequently, the company ceased all operations but opted for a selling strategy on Amazon instead; thus it is impossible to calculate its exact net worth as of now.
What is TITIN Weighted Shirt?
TITIN Weighted Shirts and Shorts is a company that specializes in creating products specifically for athletes. Their products are designed to increase resistance during training, which helps to improve strength and aerobic output. This, in turn, allows athletes to optimize their performance in competitions.
The shirts and shorts are made of moisture-wicking fabric and feature hydro-gel inserts placed strategically around the key muscle groups. These inserts remain in place during exercise, promoting muscle development while also providing the added benefit of being detachable. They can be heated or cooled to aid in post-exercise recovery.
Athletes are always on the lookout for ways to improve their performance, and TITIN Weighted Force system provides a unique solution. While there are other types of compression gear available, TITIN’s products are the most advanced and are used by both amateur and professional athletes, as well as military and law enforcement officials across the country.
The company’s founder and CEO, Patrick Whaley, is a Georgia Tech alumnus with a background in mechanical engineering, Kinesiology, and Physiology.
Who is the founder of TITIN Weighted Shirt?
Patrick Whaley, the CEO and founder of TITIN Tech, came up with the idea for his company as a young, skinny boy who used to walk around with a weighted backpack to build muscle.
While still in high school, Whaley began designing prototypes of weighted clothing that he believed would be more comfortable than carrying a heavy backpack.
TITIN Tech’s weighted shirts now feature a weight increase of 8 pounds, helping to quickly build muscle and endurance. After a workout, the gel inserts can be heated or chilled to aid in recovery.
Whaley originally pursued a degree in mechanical engineering at Georgia Tech, hoping to use his education to design his ideal product when he was older.
However, in 2009, Whaley was shot in the chest during an armed robbery, causing him to be debilitated. Despite this significant setback, he quickly returned to work.
Using his prototype gear, Whaley was able to get back into shape and discovered that his product worked effectively. He founded TITIN Tech in 2010 and has since gained success, with actors and athletes endorsing his products.
TITIN Tech received a significant boost when it raised over $100,000 on Kickstarter and $1 million on Fundable. Many prominent athletes have also endorsed the product. TITIN shirts have even been featured in the movie “The Expendables III.”
What Happened to TITIN Weighted Shirt at Shark Tank pitch?
In episode 609 of Shark Tank, Patrick Whaley pitches his brand of weighted compression gear called TITIN and seeks investment from the Sharks for inventory funding. He offers a 5% stake in his company for $500,000, valuing it at $10 million.
Patrick explains the benefits of TITIN gear, and while demonstrating, Robert tries on the shirt. Patrick reveals that the company generated over $1 million in revenue the previous month, impressing the Sharks.
TITIN made over $600,000 in sales the previous year through online merchants, and received $1 million in funding from venture capitalists, which Patrick bought out. This year, they project sales of $10 million.
However, Patrick currently has $1.4 million in orders that he cannot fulfill due to a lack of funds. Mark is skeptical about the product’s performance, and Robert is uneasy about the research presented by Patrick. Lori follows suit and leaves the deal.
Mr. Wonderful thinks the sales are good and offers $500,000 for a 15% equity stake, calling Patrick an “arrogant ass.” Daymond is also hesitant but offers $500,000 for a 20% equity stake and will handle inventory and manufacturing.
Patrick counteroffers with a 10% stake in the company, and Daymond accepts, maintaining his equity stake while handling inventory and manufacturing. Patrick agrees to the deal and leaves the pitch.
What Happened to TITIN Weighted Shirt after Shark Tank?
After the broadcast, Patrick secured a deal with Daymond and the agreement was finalized. TITIN was featured in a segment called Beyond the Tank, which aired in the finale of season two.
In the segment, it was revealed that Daymond had invested in TITIN and become a full partner by paying $1 million, instead of the originally proposed $500,000 for a 25% ownership.
However, after Daymond’s investment, a man claiming to be the inventor of the TITIN device accused Whaley and John of fraud. The accuser represented himself in court but failed to win the case. Meanwhile, Mark Cuban requested that Daymond refrain from using the Houston Mavericks emblem on the TITIN website.
Following these events, TITIN ceased operations and the website is currently offline as of July 2021. Despite this, the TITIN Force Weighted compression shorts remain available for purchase on Amazon.
Net Worth of TITIN Weighted Shirt
The company valuation was $10 million during the pitch, after Daymond investment the company worth $2.5 million.
Since then the company in no longer operating but selling on Amazon and hence the company net worth is not available.
TITIN Weighted Shirt FAQs
What is TITIN Weighted Shirt?
TITIN Technologies, Inc. is the leading developer of weighted compression gear for athletes, fitness enthusiasts and those looking to maximize their performance.
The TITIN team pioneered the use of two-way stretch compression fabrics for compression shirts, leggings and tights that are as comfortable as athletic wear but provide the same benefits of traditional weighted gear; increased power, speed, endurance and recovery.
Who is the founder?
Patrick Whaley is the Founder and CEO of TITIN Technologies, Inc. Prior to TITIN, Mr. Whaley has been an engineer with experience in designing clothing and wearable systems for both sports and medical applications.
How much was asking on Shark Tank?
Patrick was asking for $500,000 for 5% stake of his company, worth $10 million.
Did he have the deal?
Yes, he did a deal with Daymond John.
How much was the deal?
Daymond offered $500,000 for 20% ownership of the company, worth $2.5 million.
Is TITIN Weighted Shirt still in business?
No, the company is no longer in business. The company website is currently offline as of July 2021.
Where was TITIN Weighted Shirt located?
The company is headquartered in Houston, Texas.
Is TITIN Weighted Shirt a scam?
No, the company is not a scam. The company website is currently offline as of July 2021.
How TITIN Weighted Shirt Works?
The best fitness performance is gained from training with equal intensity and recovery on both sides of the body. This is possible with traditional weighted packs but has recently been made easier with a TITIN shirt.
This innovative product can be worn under any type of athletic clothing to help balance muscle development or prevent muscle imbalances that can result from normal workouts and everyday life.
What is the mission of TITIN?
They are dedicated to help people achieve peak performance, through providing a comfortable and optimal way to use weighted clothing. Their goal is to become the leading provider of weighted compression products in the world.
Where can I buy a TITIN Weighted Shirt?
Customers can purchase these shirts starting at $199 on Amazon.com or TITIN’s website.
What were the payment methods accepted by TITIN Weighted Shirt?
The company accepts payment via cash, check, credit card or payment processor.
Where can I call or email TITIN Weighted Shirt?
TITIN Weighted Shirt is currently unavailable on both website and Facebook, their website indicates that they will be back soon.
What is the net worth of Patrick Whaley?
Patrick Whaley net worth is not available.