Pitch Introduction
Smart snow goggles are revolutionizing the winter sports industry, and Rekkie is at the forefront of this innovation. The Cincinnati-based company caught the attention of Shark Tank investors with their cutting-edge augmented reality ski goggles that display real-time data directly in the user’s line of sight. These high-tech goggles not only enhance the skiing experience but also improve safety on the slopes by keeping users connected without distractions. The Pease brothers—Fletcher, Henry, and David—pitched their groundbreaking product to the Sharks, ultimately securing a significant investment from tech mogul Mark Cuban. Their journey from a simple idea to a Shark Tank success story exemplifies the power of identifying a market need and developing an innovative solution that addresses real-world problems faced by winter sports enthusiasts.
Business Overview
Rekkie has developed smart snow goggles that incorporate augmented reality technology to provide skiers and snowboarders with real-time information while they’re on the slopes. The goggles display data such as speed, direction, altitude, and the location of friends directly in the user’s field of view. This innovative product addresses a common problem faced by winter sports enthusiasts: staying connected with their group and accessing important information without having to stop and check their phones. The target market includes tech-savvy skiers and snowboarders who value both safety and convenience on the mountain. Rekkie’s unique selling proposition is their combination of advanced AR technology with practical functionality designed specifically for winter sports, creating a hands-free experience that enhances rather than detracts from the skiing experience.
| Company Detail | Information |
|---|---|
| Product Name | Rekkie Smart Snow Goggles |
| Price Point | $399 (currently discounted to $349) |
| Core Technology | Augmented Reality Display |
| Primary Function | Real-time data display and communication |
| Control Method | Head motion and single button operation |
About Founder’s
Rekkie was founded by three brothers: Fletcher, Henry, and David Pease, who grew up in Hyde Park, Cincinnati. The brothers each brought different skills and experiences to the venture, combining their expertise in technology, operations, and sales. Henry Pease, who came up with the original idea, was working with augmented reality and VR headsets in northern California when he experienced the problem firsthand during a skiing trip to Lake Tahoe. After getting separated from his group due to lost cell service, he realized the need for a better way to stay connected on the slopes. This experience inspired the creation of Rekkie. The brothers, who had always dreamed of starting a company together, decided to leave their established careers and return to Cincinnati to make their vision a reality.
- Henry Pease: The technology visionary who conceived the product idea while working with AR/VR technology
- Fletcher Pease: Handles sales and business development for the company
- David Pease: Manages operations and oversees the manufacturing process
- The brothers invested over $200,000 of their own money into developing the product
Shark’s and Founder’s QnA
What exactly do your smart snow goggles do?
Our Rekkie smart snow goggles use augmented reality to display real-time information right in your line of sight while skiing. They show your speed, direction, altitude, and even let you see where your friends are on the mountain. You can also receive texts and calls, all completely hands-free without taking your gloves off.
How did you come up with this idea?
A few winters ago, I was skiing in Lake Tahoe on a perfect Bluebird day. I took a shortcut through the trees, lost cell service, and got separated from my group. That moment sparked the idea. I kept thinking, wouldn’t it be cool to have all that information right there in a simple heads-up display? So we built it.
How much do the goggles cost and what’s included?
Our goggles retail for $399, though we have them discounted at $349 right now. We also offer a bundle that includes the goggles, a case, and an extra lens normally selling for $56, but currently discounted to $449. The price includes the goggles with the AR technology built in, along with our companion app.
How do you control the goggles without using your hands?
The screen sits above your line of sight, near the top of the goggles. Everything is controlled by head motion and one big button on the side. The idea is that anytime your phone buzzes, you don’t have to take your gloves off. You can simply look up to see who’s calling or read a text.
Can you track your friends with these goggles?
Yes, that’s one of our key features. If I hold down on the map in the app, I can drop a pin and it shows up as a waypoint in the goggles and shows up for all my friends too. We’ve even had a critical mass of people on the slopes wearing our products, creating a network effect.
How much money are you asking for and what’s the valuation?
We’re asking for $300,000 in exchange for 10% equity in our company. This values Rekkie at $3 million. We’ve already invested over $200,000 of our own money and have been in business for about a year with three production runs completed.
What are your sales so far?
We’ve sold hundreds of pairs so far. Toward the middle and end of last ski season, they really caught on. As soon as you tell somebody it’s like a head-up video game, they’re like oh my god, I need that. We’re getting ready to ramp up production for Christmas and the upcoming ski season.
What makes your product different from other tech on the market?
Our goggles are specifically designed for winter sports with a display that activates only when needed, so it doesn’t distract from the skiing experience. We’ve focused on making the technology practical for the slopes, with simple controls through head motion and a single button that works even with gloves on.
Key Stats & Financials
Rekkie’s financial position at the time of their Shark Tank pitch showed promising early traction despite being a relatively new company. The brothers had invested significant personal funds into developing their product and were beginning to see sales momentum as they entered their second ski season. Their pitch to the Sharks demonstrated a clear understanding of their business model and growth potential, with a valuation that reflected both their current performance and future aspirations in the growing market of wearable technology for outdoor sports.
- Sales: Hundreds of pairs sold in their first year, with momentum building toward the end of the season
- Margins: The product sells for $399 retail with manufacturing costs that allow for healthy profit margins
- Valuation: The company was valued at $3 million based on their request for $300,000 for 10% equity
- Investment Request: $300,000 for 10% equity in Rekkie
- Use of Funds: The funds were intended to ramp up production for the upcoming ski season and continue product development
| Financial Metric | Details |
|---|---|
| Initial Investment | $200,000+ (founders’ personal investment) |
| Seeking Investment | $300,000 for 10% equity |
| Final Deal | $300,000 for 12.5% equity with Mark Cuban |
| Final Valuation | $2.4 million |
| Product Price | $399 (discounted to $349 at time of pitch) |
Business Potential and TAM
The market potential for Rekkie’s smart snow goggles extends beyond just skiing enthusiasts. The technology has applications in various outdoor activities where real-time information and connectivity are valuable. The total addressable market includes winter sports enthusiasts, outdoor adventurers, and even potential military and search and rescue applications. As wearable technology continues to evolve and consumers become more comfortable with AR devices, the market for products like Rekkie is expected to grow significantly. The brothers have already identified interest from users in other sports like paintball and even aviation, suggesting multiple potential revenue streams and applications for their technology.
- The global winter sports equipment market is valued at billions of dollars, with a growing segment for tech-integrated products
- Wearable technology market is expanding rapidly, with AR devices representing a high-growth category
- Rekkie’s technology has potential applications beyond skiing, including snowboarding, mountain biking, and hiking
- The company has received interest from unexpected markets, including aviation and search and rescue operations
Rekkie: Ideal Target Audience & Demographics
| Demographic | Details |
|---|---|
| Age Range | 25-45 years old |
| Income Level | Upper-middle to high income (can afford premium tech products) |
| Technology Adoption | |
| Skiing Frequency | Regular skiers/snowboarders who hit slopes multiple times per season |
| Geographic Location | Primarily North America and Europe with access to ski resorts |
Marketing and Distribution Strategy
Rekkie has employed a multi-faceted approach to marketing and distributing their smart snow goggles. The company has leveraged the power of appearing on Shark Tank to gain significant exposure and credibility in the market. Their strategy includes direct-to-consumer sales through their website, partnerships with ski resorts and retailers, and leveraging social media to showcase the product in action. The brothers have emphasized the hometown aspect of their business, highlighting local Cincinnati companies that have contributed to the product’s development, including Designfusion for 3D printing cases and DF Electronics for assembly. This local connection has helped them build a strong brand story that resonates with customers looking for innovative American-made products.
- Direct-to-consumer sales through their website with emphasis on the Shark Tank appearance
- Partnerships with ski resorts and specialty retailers for in-person sales and demonstrations
- Social media marketing showcasing the goggles in action on various slopes and conditions
- Content marketing highlighting the technology features and practical applications
Rekkie Deal Outcome
Rekkie successfully secured a deal with Mark Cuban on Shark Tank, marking a significant milestone for the company. While Barbara Corcoran expressed concerns about the price point and Kevin O’Leary pushed for his typical royalty deal structure, Mark Cuban recognized the potential of the product as more than just snow goggles. He saw Rekkie as a platform technology with applications in the broader connected outdoor experiences market. After some negotiation, the brothers and Cuban agreed on terms that provided the company with not just funding but also the strategic guidance of a tech industry veteran.
| Deal Detail | Information |
|---|---|
| Investor | Mark Cuban |
| Investment Amount | $300,000 |
| Equity Received | 12.5% |
| Company Valuation | $2.4 million |
| Strategic Value | Mark Cuban’s expertise in technology and sports industries |
Rekkie Post-Show Update
Since appearing on Shark Tank and securing Mark Cuban’s investment, Rekkie has continued to grow and evolve. The company has expanded its product line and increased production to meet growing demand. The Shark Tank effect has significantly boosted brand recognition, leading to increased sales and interest from potential partners. The brothers have continued to develop the technology behind their smart goggles, exploring new features and applications. With Mark Cuban’s guidance and investment, Rekkie is positioned to expand beyond just the winter sports market and explore other potential applications for their AR technology. The company remains based in Cincinnati, maintaining its commitment to local manufacturing and partnerships while building a national and international presence.
Business Analysis & Lessons
Rekkie’s Shark Tank success offers several valuable lessons for entrepreneurs. The brothers identified a real problem they personally experienced and developed a solution that addressed not just the immediate issue but also enhanced the overall user experience. Their willingness to invest significant personal funds demonstrated their commitment to the venture, which resonated with the investors. The pitch effectively balanced the emotional story of getting separated on the slopes with the practical aspects of the business model and technology. Additionally, the brothers understood their product’s broader potential beyond its initial application, which helped secure a deal with a tech-focused investor like Mark Cuban.
- Identifying a personal pain point can lead to innovative business ideas with genuine market need
- Demonstrating personal financial investment shows commitment and reduces perceived risk for investors
- Understanding the broader applications of your technology can open up additional market opportunities
- Building a strong brand story, including local manufacturing connections, can enhance market appeal
Pitch Conclusion
Rekkie’s journey from a simple idea born on the slopes to a Shark Tank success story exemplifies the power of innovative thinking combined with entrepreneurial determination. The Pease brothers have created a product that not only solves a common problem for winter sports enthusiasts but also opens up new possibilities for augmented reality in outdoor activities. With Mark Cuban’s investment and guidance, Rekkie is well-positioned to expand its market presence and continue developing its technology. For consumers, Rekkie represents the future of connected outdoor experiences, blending cutting-edge technology with practical functionality. As the company grows, it will be exciting to see how the technology evolves and what new applications emerge for these innovative smart snow goggles. Whether you’re an avid skier or simply interested in wearable technology, Rekkie is a company worth watching as it continues to revolutionize the winter sports industry.