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TripleLite – Shark Tank Season 16

A California-based entrepreneur couple seeks to shine a light on TripleLite in Shark Tank Season 16.

TripleLite Shark Tank

Ronnie Nancy Pritchett Present TripleLite 180° Flashlight On Shark Tank

Highlights

  • Ronnie Pritchett and Nancy Pritchett, an entrepreneur duo from California, pitch the TripleLite Shark Tank pitch in episode 8.
  • The company earned $5 million in lifetime sales in four years.
  • Ronnie and Nancy’s pitch ended with a competitive bidding fight.

Overview

Category Details
Name TripleLite
Founder Ronnie Pritchett and Nancy Pritchett
Industry Lighting
Product Patented Flashlight Technology
Funding Self-funded
Investment Ask $400K
Equity Offered 10%
Valuation $4 million

The husband-wife duo of Ronnie Pritchett and Nancy Pritchett makes its way to the Shark investors with its light-based patented technology. Based out of California, the married co-founders and co-owners of TripleLite 180° Flashlight. They reiterate that TripleLite focuses its light not just in the center, but left and right as well.

Nancy adds that their technology shines crisp with its white LED light in a wide, 180-degree arc. This is possible with TripleLite’s three ‘perfectly positioned’ LED bulbs that shine an ultra-bright light for about 160 feet in front of users.

Ronnie claims it could light up an entire room or backyard and thereby make users feel safe and secure. Plus, users will no longer have to turn their flashlights back and forth in the dark.

TripleLite Shark Tank: What Happened On Season 16

In the eighth episode of Shark Tank Season 16, Nancy and Ronnie approach the judges seeking $400K for 10% equity. The Sharks are impressed with the TripleLite Shark Tank pitch presentation. Kevin O’Leary praises the duo and comments ‘That was good theater.’

Mark Cuban wants to know about their personal and professional backgrounds. A University of Georgia alumni, Nancy Pritchett, married Ronnie a year after her graduation. Parents of two kids, Nancy used to be a stay-at-home mom before associating with TripleLite. The Pritchetts have been married for 41 years.

Ronnie started the company in 2012 after their kids left home. He further reveals how his motivation for TripleLite came from a personal experience. The Shark investors are shocked to learn that he used to be a golf professional, not an inventor.

Ronnie claims that TripleLite’s lifetime sales are right at $5 million. The Shark investors go ‘wow’ on hearing this. Nancy adds that although her husband started the venture in 2012, it took him two years to get the patents and prototypes. So, TripleLite’s launch came through in 2014.

But Nancy further revealsed that they did not really launch until 2020. Sales in four years were $4 million. In 2023, TripleLite made $1,077,000. Projected sales for 2024 were $1.5 million.

Mark Cuban thinks there is a ‘disconnect’ and wants to know why they did not make any sales till 2020. Replying to him, Ronnie reveals that they launched in the fall of 2014 and made $100K through sales. Sales further jumped to $310K in the next year.

A teary-eyed Nancy reveals that everything changed in the first quarter of 2021 when they got an investor for mentorship. In January 2018, they sued Nancy and Ronnie for control of the company. After this, the husband-wife duo fought back and got back 100% of the company by August 2018.

All the Shark investors applaud the TripleLite founders. Nancy reflects on how they trusted the wrong people. Mark says the same happened to him as well.

Daniel Lubetzky inquires about the costs. The landed cost for the TL800 flashlight is $6.50. Plus, it wholesales for $15 and retails for $29.95.

Mark wants to know about TripleLite’s profits. Ronnie says it is $318K. Mark asks if that is before or after they pay themselves. The entrepreneurs say they do not take any pay.

Robert Herjavec asks why they have not gone or been approached by other flashlight companies to get this technology. Ronnie replies that they have been approached by a ‘couple of big boys’ for a small royalty. They have five utility patents and a design patent in 27 countries globally.

 

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Did The TripleLite Shark Tank Get A Deal?

Kevin O’Leary assures them that he will try to take control of their company like the previous ‘slimeball’ and offers $400K for a whopping 49% equity. A disappointed Mark exclaims, ‘Oh, hell no.’ Kevin continues and says that if the Pritchetts accept his deal, he will take them to every retailer in America.

Daniel, too, reacts strongly and says, ‘Haven’t they suffered enough?’ Responding to this, Kevin boasts about the connections that he built in the past 15 years of Shark Tank. Daniel again comments that Kevin’s offer will give a valuation that is less than one time of their sales.

Lori thinks they have been doing well and asks if the TripleLite founders are happy with it. An emotional Nancy agrees and says that they have appeared before the judges to take their ‘baby’ a level higher. She thinks TripleLite can go global and become a $100 million company a year.

Daniel sees ‘magic’ in the entrepreneurs and makes a ‘non-negotiable’ offer of $400K for 25% equity. After him, while Robert cites his reasons to step out of the TripleLite Shark Tank deal, things get a bit competitive between Daniel and the alliance of Mark and Lori.

On seeing Mark and Lori engage in some discussions for a potential offer, Daniel gets up and goes to the Pritchetts in an attempt to convince the duo. Lori says, ‘Excuse Me,’ but then Daniel tells the entrepreneurs, ‘Don’t let those banditos, Bonnie and Clyde..’

Mark says he and Lori would match Daniel’s offer and propose $400K for 25% equity. Plus, Lori says they will help them license their patented technology.

Nancy counters both offers with 20% equity. Lori thinks that is too little for two Sharks coming together. But Robert Herjavec gets back in the discussions and joins hands with Daniel. The two of them offer $400K for 20% equity.

In the end, Nancy and Ronnie take Mark and Lori’s deal at $400K for 25% equity.

Rob Merlino

Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.

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