Brothers and entrepreneurs Henry, David, and Fletcher Pease pitched their VR Smart Snow Goggles, Rekkie, on Shark Tank Season 15. These goggles help skiers track the location of their friends using call service or radio frequency while skiing in the snow. The goggles also display key information like time, speed, altitude, control music, a compass, battery life status, and the number of unread text messages, all visible on a virtual screen.
Did any of the Sharks decide to invest in this new smart technology business? Let’s find out what happened to the business and how it is doing now.
| Company Name | Rekkie | |
| Founder/Co-Founder | Henry, David, and Fletcher Pease | |
| Founded | Jul 2022 | |
| Product | Smark Snow Goggles | |
| Asked For | $300k for 10% equity | |
| Final Deal | $300k for 12.5% equity | |
| Shark | Mark Cuban | |
| Episode | S15 E7 | |
| Air Date | Nov 17th, 2023 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Cincinnati, Ohio, United States | |
| Annual (Revenue) | $0.5 Million *estimated | |
| Worth / Valuation | $3 Million | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Henry, David, and Fletcher Pease are the co-founders of the smart snow goggle company Rekkie, officially founded in July 2022.
Henry is a mechanical and aerospace engineer who worked for five years as a Research and Development Engineer at BMW of North America, LLC.
David is an MBA graduate and co-president of the family business, Pease Enterprises, which oversees multiple brands, including Pease Doors, Porvata, Rekkie, and Brisker.
Business Pitch Episode Recap
Henry, David, and Fletcher Pease asked the Sharks for $300,000 in exchange for 10% equity in their company. During their product demonstration, they explained how their smart snow goggles work alongside their app, allowing users to track the location of their friends using GPS and radio frequency technology.
Lori Greiner asked about the cost of the product. In response, David explained that they launched the product in 2022, and during one ski season, they achieved $175,000 in sales, all through direct-to-consumer (D2C) channels.
Each goggle is sold for $349, with a current manufacturing cost of $130. However, they believe the cost can be reduced to $100 as the business scales.
Rekkie operates in the action sports goggle segment, and currently, no other company is making goggles like theirs. Fletcher shared that their patent is still pending. Henry, David, and Fletcher Pease started this business with an investment of $200,000 of their own money, and they also received a $40,000 grant from a local firm to help fund their venture.
Henry is currently working full-time on the business, while David and Fletcher are managing their other D2C company, which generates $8 to $10 million in annual sales. Kevin O’Leary asked about the customer acquisition cost, and David revealed that it is currently $120, but the average order value stands at $475.
Lori stated that she is not a cold-weather sports enthusiast, so she is out.
Barbara Corcoran asked the co-founders, “When do you think you would incorporate the ski runs and the chairlifts in the map features?” Henry responded that this is part of the R&D funding, to which Barbara replied that she is out.
Kevin O’Leary offered $300,000 for 20% equity, with distributions of 20 cents for every dollar taken as income.
Mark Cuban offered $300,000 for 15% equity in the company. David countered with an offer of $300,000 for 12.5% equity, and Mark accepted this counteroffer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Barbara Corcoran | No Offer |
| Kevin O’Leary | $300k for 20% equity, with 20 cents per dollar in distributions taken as income. |
| Mark Cuban | $300k for 15% equity |
| Daymond John | No Offer |
| Lori Greiner | No Offer |
| Founder’s (Countered) | $300k for 12.5% equity (Mark) |
| Final Deals | $300k for 12.5% equity |
Rekkie Shark Tank Update
After the episode aired, there was a significant boost in sales as many snow ski lovers purchased the product to test it out. As of October 2024, there has been no update on the confirmation of the deal with Mark Cuban, and the company is not listed on the Mark Cuban Companies website.
While researching the company, we also found that Henry Pease is still working full-time in the company.
Check out Shark Tank Season 15 Business Update.
You can see some businesses from Season 15 here.
