Highlights
- Chris and Geanie Rogers pitched Rapid Rope, a compact, tangle-free rope dispenser with a built-in cutter, seeking $200,000 for 20% equity.
- They secured a deal with Barbara Corcoran for $200,000 for 30%, but the deal ultimately did not close.
- The product continues to be available online and in retail stores like Duluth Trading Company, with annual revenue between $900,000 and $1 million as of August 2024.
Overview
| Category | Details |
|---|---|
| Name | Rapid Rope |
| Founders | Chris and Geanie Rogers |
| Industry | Outdoor and Utility Gear |
| Product | 120 feet of flat braid rope in a compact, shatterproof canister with built-in cutting device |
| Funding | Deal with Barbara Corcoran for $200,000 for 30% equity (deal did not close) |
| Investment Ask | $200,000 |
| Equity Offered | 20% |
| Valuation | $1 million |
Geanie and Chris Rogers hope to tie up a deal for Rapid Rope, their “rope in a can,” in Shark Tank episode 1115. Chris is a utility lineman and the Rogers family does a lot of camping, hunting and fishing. A common need when the Rogers are pursuing outdoor interests is the need for rope.
Chris always carries a coil of rope with him when he’s going outdoors. Unfortunately, the rope gets tangled and he always struggled to find something to cut it with. His solution is Rapid Rope. It’s 120 feet of flat braid rope in a canister. The rope has 1100 pounds of tensile strength, strong enough to hold just about anything. It’s coiled in a shatter proof canister which has a cutting device built in. Now, carrying a lot of rope around is convenient and it doesn’t take up a lot of space.
One canister of Rapid Rope costs $25 and a refill cartridge costs $15. Reviews are unanimously positive. The product does what it says it will do. RapidRope got its start in 2017 but the Rogers had to put the business on the back burner for a few years when their adopted son got ulcerative colitis. They spent a lot of their time and money getting him healthy and they’re ready to get it going full steam again. Hopefully, a Shark will “knot” let them down.
Company Information
Video
Posts about Rapid Rope on Shark Tank Blog
Rapid Rope Shark Tank Recap
Geanie and Chris enter seeking $200,000 for 20% of their business. They explain their product and hand out samples. The Sharks like the $172,000 in sales since launching two years ago. They’re also intrigued about a retail arrangement with Duluth Trading Company. In honor of their adopted son, they’re using some of their profits to build a school in his native Ethiopia.
Rohan doesn’t want to partner with the couple, but offers to donate $10,000 to the school. All the other Sharks, except Barbara, are hesitant too. Barbara doesn’t know much about rope, but she likes Geanie and Chris. She offers $200,000 for 30% and they accept.
Rapid Rope Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The deal with Barbara never closed, but the product is still available online and at Duluth Trading Company. Rohan did make good on his offer of $10,000 for the school. As of August, 2024, the company is still in business and doing between $900,000 and $1 million in annual revenue.
