Do you have an issue that has been disturbing you for long? What are you doing about it? Some people turn their problems into business opportunities. Patrick Whaley is one of them. Patrick is the brain behind Titin: Weighted Shirt. He developed this idea as a solution to his skinny childhood and desire to gain muscles.
Patrick appeared on Shark Tank episode 609 seeking $500,000 for 5% stake in TITIN. Did he leave with a deal? What Happened To Titin: Weighted Shirt After Shark Tank? Keep reading to get the TITIN Shark Tank updates in 2022.
- 1 Titin: Weighted Shirt Overview in Shark Tank
- 2 What is Titin: Weighted Shirt?
- 3 How Does Titin: Weighted Shirt Work?
- 4 Who Founded Titin: Weighted Shirt?
- 5 Titin: Weighted Shirt Business before Shark Tank
- 6 Titin: Weighted Shirt During Shark Tank Pitch
- 7 Titin: Weighted Shirt Closing Deal in Shark Tank
- 8 Titin: Weighted Shirt After Shark Tank
- 9 Current Update: Is Titin: Weighted Shirt Still In Business?
- 10 FAQs
- 10.1 How much does the product cost?
- 10.2 How does Titin: Weighted Shirt help you?
- 10.3 How much was Patrick asking on Shark Tank?
- 10.4 Did he seal a deal?
- 10.5 Why did Titin: Weighted Shirt Shut down?
- 10.6 What is the net worth of Titin: Weighted Shirt?
- 10.7 What are Patrick Whaley Net worth?
- 10.8 What percentage of Titin: Weighted Shirt did Daymond John own?
- 10.9 Did Daymond John make money on Titin: Weighted Shirt?
- 10.10 What was the company’s first round of funding?
Titin: Weighted Shirt Overview in Shark Tank
|Company Name||Titin: Weighted Shirt|
|Episode||Season 6 Episode 7|
|Product Offering||Compression shirt with gel-filled weight|
|Required Investment||$500,000 For 5% stake in Titin: Weighted Shirt|
|Closing Deal||$500,000 For 20% stake|
|Current Business Status||Out of Business|
What is Titin: Weighted Shirt?
Titin Weighted Shirt is brand that offers products for enhanced training sessions. The company provides shirts and shorts for increasing resistance during training to help improve aerobic output and strength. This set of gel weighted shorts and vests help the users to build muscles and stamina that boost their outcome in the competition.
How Does Titin: Weighted Shirt Work?
Titin Weighted Shirts come with additional 8lbs that are spread evenly to ensure it does not cause stress on the user’s muscles and joints. They are made of moisture-wicking tissue which enhance their positioning across the body muscles. The hydrogel inserts in them ensure there is no movement which increase muscle growth during exercise.
Also, these inserts are detachable and allow you to cool or heat them to harness post-exercise recovery. Through this aspect, they offer adequate resistance that help the users to build their body muscles faster.
Who Founded Titin: Weighted Shirt?
Titin Tech is a brain child of Patrick Whaley. He founded this company in 2005 which was a realization of his childhood dream. Patrick studied mechanical engineering before specializing in Kinesiology and Physiology.
Patrick had been struggling to build muscles since his childhood. He was a skinny boy who desired to build muscles. This aspect made him to carry weighted daypack to try to gain muscles. The concept developed with years culminating to prototype of a weighted shirt.
This prototype become his lifesaver in 2009 when a life threatening robbery attempt change his life. Patrick was shot and left to die. However, he used the weighted shirt prototype in the rehabilitation stage that performed well than other physical therapy approaches.
The outcome encouraged him to turn the idea into a business venture and help other people. Patrick prototype got endorsements from elite athletes. He also sourced fund through crowdsourcing which helped him launch his company.
Titin: Weighted Shirt Business before Shark Tank
Being a living evidence of the Titin Weighted shirt after the 2009 near death tragedy, Patrick decided to focus on mass production of his product. However, he had no cash to launch his company. Like many entrepreneurs, crowdfunding was his first stopover. He ran two crowdsourcing campaigns to raise capital for turning his dream into reality.
The first campaign was via Kickstarter crowdsourcing which raised $117,000 while the second was Fundable where he collected $1 million. Patrick started producing and displaying the TITIN shirt at various enterprise conventions. The brand became popular prompting an invitation to the Shark Tank.
Titin: Weighted Shirt During Shark Tank Pitch
Patrick featured on Shark Tank Episode 7 Season 6 seeking $500,000 for a 5% stake in Titin business. He kicked off his pitch with a breakneck explanation about his brand. He stated that the TITIN is a patented brand dealing with fitting weighted compression gear system for human.
Patrick elaborated on the features of this system which utilizes gel inserts with density same to that of human muscles tissues. He had some promotional materials claiming that TITIN system had the ability to deliver 13% increase in vertical leap, 11% endurance, and 3% in running speed. The claim pissed some Sharks.
Mark was the first to doubt it and demanded an explanation on the science behind the TITIN system. Patrick shared some successes of his product among the sportsmen and athletes.
However, Mark could not agree and demanded an elaboration of how the product worked and not mere anecdotal information. So, Patrick repeated the pitch adding elaborations and facts on how the weighted shirt works but this not enough to convince Mark.
Robert seems interested with the idea and ready to try the weighted shirt. He desires to know the price of this product. Patrick takes him through the information. Robert tries the shirt while Patrick informs the panel that he had already made over $1 million in sales in the past few months.
He goes further to state that they sell Titin products primarily via online retailers and targeting to hit $10 million sales in the current fiscal year. This information impresses sharks but does not convince Mark. He opts out citing his doubts on the shirt’s ability to harness performance. Despite showing interest, Robert feels unease on the product’s study ambiguity. He too is out.
Lori could not wait any longer to follow suit. She had zero interests towards the product. Despite being friendly to Patrick, she is out too.
Kevin and Daymond are now the two Sharks remaining. Kevin notes that the sales are on the right trajectory and offer $500, 000 for a 15% stake. However, he had unkind words for Patrick referring his pitch as that of an arrogant ass. The words hurt Patrick but he takes the positively though he did not jump to the offer.
Daymond utilizes the opportunity and steps up with another proposal. He is ready to offer $500K for 20%. He too has some doubts about the company’s future. He also offer to handle the inventory. Patrick resisted the offer and raised his equity to 10% but the two sharks were unwilling to accept it.
Titin: Weighted Shirt Closing Deal in Shark Tank
Having the two offers and the investors unwilling to lower their guard, Patrick had the option to make the choice. He was not ready to work with Kevin due to his insults and unkind words. As such, he accepted Daymond’s offer and they closed a deal at $500, 000 for 20% equity at Titin Tech.
Titin: Weighted Shirt After Shark Tank
Unlike other Sharks, Daymond stepped up beyond the doubts to seal a deal with Patrick and offering to resolve his business’s inventory problem. The deal between the two seemed to work after the show. Daymond offered to become a full partner at Titin by paying $1 million instead of the previous deal of $500K.
Upon leaving the Shark Tank, Titin secured sales from high-profile consumers. Personalities such as Paul Millsap, Dustin Pedroia, and Jonny Gomes started using the Titin weighted shirts. The sales also stated growing.
Titin focused on developing affordable models fit for average fitness enthusiasts. Their goal is to become the cheapest and only patented weighted system brand. Also, it featured on the Beyond the Tank show. The brank launched Titin Tykes, a weighted system for youngsters.
Current Update: Is Titin: Weighted Shirt Still In Business?
Titin moved its customer support and marketing to Empire State Building. They continued with operations. However, a person sued them accusing the duo for fraud but the case was unsuccessful. He had accused them of stealing his technology.
Titin is no longer in business after Mark asked Daymond to stop using Houston Mavericks on their website. Currently, the Titin Tech website is offline. Their social media pages are also inactive. However, their products are available on Amazon.
How much does the product cost?
The cost of Titin compression weight system is $250.
How does Titin: Weighted Shirt help you?
The weighted shirts and shorts helped fitness enthusiast, athletes and sportsmen to gain muscles, boost endurance, and increase running speed.
How much was Patrick asking on Shark Tank?
Patrick was seeking a funding of $500,000 in exchange of a 5% stake in Titin Tech.
Did he seal a deal?
Patrick sealed a deal with Daymond who offered $500,000 for a 20% stake in the company. However, he later upped the deal to become a full partner by offering $1million.
Why did Titin: Weighted Shirt Shut down?
In July 2021, Titin website and social media pages went offline. The business ceased to operate. However, its products are available on Amazon. No specific reason is available on why it shut down its operations.
What is the net worth of Titin: Weighted Shirt?
The company’s net worth was $10 million during the Shark Tank pitch. This amount increased to $25 million after Daymond investment. However, the current net worth is unknown since Titin ceased its operation.
What are Patrick Whaley Net worth?
Patrick’s net worth is unknown.
What percentage of Titin: Weighted Shirt did Daymond John own?
Daymond sealed a deal to get 20% of the Titin equity for $500,000. Later he became a full partner by paying $1 million which could mean a 40% ownership in Titin Weighted Shirt.
Did Daymond John make money on Titin: Weighted Shirt?
No news on the amount of money Daymond made on Titin.
What was the company’s first round of funding?
Titin seed fund was $117, 000 from Kickstarter Crowdsourcing and $1million from Fundable. This amount helped Patrick to launch his brand.