Under the Weather Shark Tank Net Worth 2023

In season 8 episode 20 of Shark Tank, Rick made an appearance seeking an investment of $600,000 in exchange for a 10% ownership of his business, which implied a valuation of $6 million.

Rick ultimately accepted an offer from Mark, who proposed to invest $600,000 for a 15% stake in the company and also offered the option to purchase an additional 10% stake for a $600,000 investment.

As of December 2022, the company is still operating successfully, generating an annual revenue of $5 million.

What is Under the Weather? Who is the Founder of Under the Weather?

Under the Weather provides a range of personal pop-up tents specially designed for outdoor athletic events such as children’s soccer tournaments.

These pods not only shield from the elements but also produce warmth by trapping body heat, resulting in a temperature increase of around 35 degrees inside.

These shelters provide complete protection from all weather conditions while also blocking insects and harmful UV rays. Additionally, they can be used to isolate individuals, offering some level of protection against illness. The different pod sizes available can accommodate anywhere from one to six people.

The founder of Under the Weather is Rick Pescovitz, who has worked in the textile industry for 30 years. Kelly, who later joined the company, previously ran a marketing agency and contributed 25 years of branding expertise. Both of them reside in Cincinnati, Ohio.

Like many others, Rick and his family enjoyed outdoor activities and watching their children’s games. However, they grew frustrated with sudden weather changes, which prompted Rick to create the first pod in 2010 to combat harsh weather conditions during one of his children’s soccer games.

After developing a successful prototype, he launched the company with all available resources. The business did not experience significant sales until Kelly started promoting it on social media.

Rick and Kelly started their company because of their passion for their three active children. The price of Rick’s pods ranges from $59 to $200, depending on the amenities and the number of people the pod can accommodate.

Under the Weather Shark Tank Pitch

In episode 20 of the eighth season of Shark Tank, Rick appears with his two children seeking a $600,000 investment in his business in exchange for a 10% stake, valuing his company at $6 million. The scene is set in a fictional sports event amidst rain, wind, and snow in the studio.

After Robert dismisses Rick’s product as absurd, he showcases it and connects it, impressing Mark, Lori, and Daymond, who try it out. Rick then demonstrates the product’s effectiveness in heavy rain.

Rick reveals that his business conducts 85% of its sales online, selling its product for $99 per unit while paying $23 per unit. Last year, his company generated $2 million in sales, and he has a utility patent and nine design patents for his product.

Rick previously sold a company for $3.5 million in 2012 and shares a story about his brother’s tragic death, which inspired his current product.

Although Rick asks for $600,000 for a 10% stake, Daymond notes that he does not seem desperate for money. Rick is looking for a partner to assist with global distribution, retail, and pricing decisions, while his wife believes their product should be sold in stores.

Daymond and Kevin both offer $600,000 for a 20% stake, while Robert believes Rick can succeed on his own and bows out. Mark offers $600,000 for a 15% stake, with an option to purchase an additional 10% later.

Rick chooses Mark’s deal, as he believes they can generate significant profits together. However, Mark ultimately did not sign the contract, but Rick continued to grow his business by adding new products, such as a micro pod, a deluxe pod designed for larger individuals, and even a gigantic pod that could fit two people with a table.

These products are exclusively available at various retail outlets, including DICK’s Sporting Goods, Field & Stream, SCHEELS, Walmart, Amazon, and Rick’s website.

However, in 2020, the company’s revenue declined by 70% due to the absence of attendance at athletic events. In response, Rick developed the IntubationPod, a device that protects healthcare workers from aerosol spray when intubating patients. This product gained significant traction in the healthcare industry.

As of June 2021, the company is still profitable, generating $5 million in annual revenue.

Under the Weather Net Worth

Rick appears on Shark Tank season 8 episode 20 in search of $600,000 in exchange for 10% of his business. This suggests a valuation of $6 million.

He accepted an offer from Mark of $600,000 for a 15% stake with an option to buy another 10% stake for $600,000 investment.

Under the Weather Competitors

There is no competitor identified for Under the Weather.

Under the Weather Shark Tank Updates

Under the Weather is a hybrid chair/tent that keeps people warm and dry in the coldest and wettest weather while sitting to watch a game or event. Rick Pescovitz, the founder of Under the Weather, appeared on Shark Tank in season 8 episode 20 seeking $600,000 for 10% of his business.

He had sold as many as 220,000 units in two years with a profit margin of $1 million annually. The Sharks were impressed by Rick’s success despite not using any modern accounting or inventory management solutions.

During the pitch, Rick set up his product and connected them while his two kids were systematically doused with rain, wind, and snow in the studio. Robert called it ridiculous looking and went out, while Mark offered $600,000 for 15% with an option to buy another 10% for $600,000, which Rick agreed to.

After the show, Under the Weather enjoyed tremendous success and expanded its product line to include a mini, deluxe (for larger folks), and a mega pod that can fit two chairs and a table. The company also offers pods for bug protection, stadium seating, and more.

In 2023, Under the Weather continues to be a genuine product that has been reviewed positively by many of its users.

The company offers different types of pods in various sizes and colors, including new additions of the MiniPod, CamoXLPod, and the XLDeluxePod. The entire design is fully-enclosable and keeps users dry and warm, regardless of the weather.

Summary Table: Under The Weather Shark Tank Net Worth 2023

ITEM	DETAILS
Company Name	Under the Weather
Founder	Rick Pescovitz
Year Founded	2010
Product/Service	Personal pop-up tents for outdoor events
Valuation	$6 million (based on Shark Tank appearance)
Investment	$600,000 for a 15% stake (with an option for another 10%)
Annual Revenue	$5 million (as of December 2022)
Competitors	None Identified
Updates	Developed IntubationPod for healthcare workers

Under the Weather FAQS

What Is Under The Weather And How Does It Work?

Under the Weather is a company that produces pop-up pod tents designed to keep people warm and dry in cold or wet weather conditions.

The founder, Rick Pescovitz, appeared on Shark Tank in Season 8 Episode 20 seeking a $600,000 investment in exchange for 10% of his business, which would value the company at $6 million.

The pods are designed to be easy to set up and take down, and they come in various sizes, including mini, deluxe, and mega pods, as well as pods for bug protection and stadium seating.

The pods are made of durable materials and feature clear windows for visibility and ventilation. The pods work by providing a sheltered space for people to sit in, protecting them from the elements while still allowing them to enjoy outdoor activities.

After appearing on Shark Tank, the company expanded its product line to include new types of pods in various sizes and colors.

Who is founder of Under the Weather?

Rick Pescovitz is the founder and owner of Under the Weather, Inc., a company devoted to creating portable weather shelters for outdoor engagement.

What Was The Outcome Of Under The Weather Shark Tank Pitch?

In Season 8 Episode 20 of Shark Tank, Rick Pescovitz appeared seeking a $600,000 investment in exchange for 10% of his business, Under the Weather. Two of the Sharks initially proposed $600,000 for 20% partnership, while Mark Cuban suggested $600,000 for 15% equity.

Ultimately, Rick accepted Mark Cuban’s offer, and the deal was made. After appearing on Shark Tank, Under the Weather has enjoyed tremendous success, expanding its product line to include new types of pods in various sizes and colors, such as the MiniPod, CamoXLPod, and XLDeluxePod.

The company has sold as many as 220,000 units in two years with a profit margin of $1 million annually. Overall, the outcome of Under the Weather’s Shark Tank pitch was a successful investment from Mark Cuban and significant growth for the company.

Did Under The Weather Get A Deal On Shark Tank?

Yes, Under the Weather did get a deal on Shark Tank. Rick Pescovitz, the founder of Under the Weather, appeared on Shark Tank in Season 8 Episode 20 seeking a $600,000 investment in exchange for 10% of his business, which would value the company at $6 million.

After negotiations with the Sharks, Mark Cuban made a deal with Rick for $600,000 in exchange for 15% equity, with an option to buy an additional 10% for $600,000.

Since then, the company has expanded its product line to include new types of pods in various sizes and colors, including the MiniPod, CamoXLPod, and XLDeluxePod. The company has enjoyed tremendous success, having sold as many as 220,000 units in two years with a profit margin of $1 million annually.

What Happened To Under The Weather After Its Appearance At The Shark Tank?

After its appearance on Shark Tank, Under the Weather has enjoyed tremendous success. The company has expanded its product line to include new types of pods in various sizes and colors, including the MiniPod, CamoXLPod, and XLDeluxePod.

The company has sold as many as 220,000 units in two years with a profit margin of $1 million annually. The founder, Rick Pescovitz, got the inspiration for his product when he attended a soccer tournament where his son played and had to sit through sub-freezing temperatures and cold rain.

Under the Weather is an amazing product for protecting people against harsh weather conditions, allowing people to enjoy outdoor activities without any major problems.

How much was he seeking in the Shark Tank?

$600,000 in exchange for a 10% stake.

Is Under the Weather still in business?

Yes, the company is very much in business. They can purchase their products on Dick’s Sporting Goods, Field & Stream, Scheels, Walmart, Amazon and their own website.

What episode was Under the Weather aired on Shark Tank?

Under the Weather was aired on Sharks Tank season 8 episode 20.

Is Under the Weather a real product?

Yes, Under the Weather is a genuine product that has been reviewed by many of its users and many of them have given it positive reviews.

When was Under the Weather on Shark Tank?

It was aired on April, 7th 2017.

Where is Under the Weather located?

Under the Weather has its headquarters in Cincinnati, Ohio.

How much does costs?

They pays $23 for each unit to make and sells them for $99 but they introduced another products called The MegaPod which retails for $199.

My plastic is very wrinkly?

Allow your Pod to sit in the sun for a few hours. The sun’s heat may significantly decrease creases and also makes zipping simpler.

Can they use the Pod on a cement surface?

They prohibit the usage of our Pods on concrete or asphalt surfaces due to the possibility of a floor rip caused by friction.

Pods with floor rips caused by usage on concrete or asphalt are not covered by the manufacturer’s guarantee.

They recommend layering the pod with cushioning if it will be used on a rough surface, such as an old blanket.

How do they clean their Pod?

Clean the zippered panels, oxford polyester fabric, and tent floor using a soft brush, microfiber wipe, or chammy and warm soapy water.

What colours are available for their pop-up Pod?

Colours are subject to modification and addition.

Do they offer a discount for bulk/larger quantity orders?

They do not provide discounts for large purchases; but, if they send many Weather Pods to the same place, they can save money on shipping costs each Weather Pod.

Send an email to support@utwpods.com.

Do they sell to wholesalers?

They do not sell to distributors. They do, however, provide complimentary delivery on orders of 18 or more.