Patrick Whaley is seeking investment in Shark Tank episode 609 in TITIN, his weighted compression gear business.
Whaley had the concept for TITIN as a skinny child: he would walk with his weighted backpack everywhere to help grow his muscles.
He felt he was making weighted clothes more comfortable than wearing a backpack and drawing prototypes during high school.
TITIN Tech weighted shirts are placed to the garment with a weight of 8 pounds. The weighted inserts assist in building muscle and endurance more quickly. Once the training has finished, the gel inserts can be heated or cooled to help recovery.
While studying mechanical engineering at Georgia Tech, Waley took body construction as a hobby and thought a technical education could assist him in designing his product.
When he was injured in the chest in an armed robbery in 2009, his life changed rapidly. He was weakened but not defeated by this great injury and soon returned to the drawing board.
The prototype gear Patrick used after his incident allowed him to return to normal, and he recognized that he was living proof that his invention was working. He began TITIN Tech in 2010 and was successful.
Performance artists use their goods when they need to cut fast. The TITIN shirts were also shown in the film “The Expendables III.”
When TITIN raised more than $100K in Kickstarter and $1 million in Fundable, it got a significant push. The product has also received approvals from a large number of professional athletes.
Is Mr. Whaley strong enough to land a Shark?
What is Titin?
Titin is a range of weighted shirts and shorts for the ultimate training session. It is an additional 8 lbs. spread evenly and does not stress major muscles or joints.
Several Titin users appreciate the ability to heat and/or freeze gel inserts like the one featured in the attached photograph.
Mark Cuban told Shark Tank that he was careful about the “science” underlying Titin, but Daymond John took a bit of CrossFitter. (500k dollars for 20 percent.)
There is a continuous demand from athletes for faster, stronger, and lighter ways to enter the weighted force system of Titin.
Titin Tech produces weighted shirts and shorts, particularly for athletes who add additional strength during exercising to increase their strength and aerobic performance, maximizing competitive results.
Made of moisture-wicking tissue, the hydrogel inserts are patented. They are deliberately positioned around the main muscle groups to allow zero movements of inserts while increasing muscle growth during exercise.
The gel inserts benefit from being detachable to heat or cool them to help to heal after exercise.
Although several forms of compression gear exist, Titin offers the latest solutions for amateurs and professionals, daily workout enthusiasts, military and law enforcement officers throughout the country today.
|Company Name||Titin: Weighted Shirt|
|Product||Compression shirt with gel-filled weight|
|Investment Seeking||$500,000 For 5% equity in Titin|
|Final Deal||$500,000 For 20% equity in Titin|
|Business Status||Out of Business|
Who Is The Founder Of Titin?
Titin Tech was founded by Patrick Whaley, a mechanical engineering graduate who changed his specialty to Kinesiology and Physiology. Patrick is still active with the company today.
Patrick started TITIN Tech in 2005 but has been sketching since high school. He used to wander around with a weighted daypack to try muscling and then bodybuilding.
The notion of a weighted shirt to help achieve its training objectives remained, and a prototype was developed.
The life of Patrick took a dramatic change in 2009. In a failed robbery attempt, he was shot and left dead. Patrick found his prototype weighted shirt in rehabilitation more effective than physical therapy.
Encouraged by living evidence, he collected $100,000 in Kickstarter crowdsourcing and $1 million in Fundable to help establish the firm.
Elite athletes endorsed his prototypes and were even honored by the Sylvester Stallone film, Expendables 3.
As production began and sales online grew, the business began to gain unbelievable momentum, with monthly sales surpassing the $1 million mark, which allowed Patrick to acquire certain investors.
However, Patrick started looking for new investors with apparel merchandise experience to help speed up production and provide guidance, using backorders to fill and not enough cash.
Titin Before Shark Tank
Patrick Whaley was dissatisfied with his slender build as a young man and began adding weight to his backpack in elementary school in the shape of books to gain strength.
He quickly learned, however, that carrying heavyweights wasn’t the most efficient method of training.
He continued developing the idea throughout his high school years because the weight increased against him and caused shoulder problems during workouts.
A horrific tragedy soon brought Patrick’s imagination back to life after taking a break from his academic studies at Georgia Tech to focus on his studies.
Patrick was the victim of an attempted mugging in May 2009 while relocating to a new apartment in Atlanta.
During a battle for his attacker’s gun, the bullet entered his lungs, passed through his liver, and exited through his back.
Fortunately, Patrick’s luck and youth were on his side, and he survived the potentially fatal injuries, but he faced a hard healing process that could span months, if not years.
His recovery was facilitated by the fact that he had spent so much time inventing his weight-enhanced training shirt.
Patrick recognized that his shirt was the most effective everyday aid he could employ to aid in his recovery.
Within a year, Patrick was fully recovered and re-inspired to promote his TITIN shirt, as he had dubbed it.
He began exhibiting it at enterprise conventions across the country, concentrating on gaining maximum exposure for his product.
In May 2014, he launched a Kickstarter effort to raise extra funds. Although he sought $100,000, he eventually raised over $117,000 with the assistance of over 500 backers.
He was reached by Shark Tank producers shortly after the campaign concluded and invited to appear on the show.
How Was The Shark Tank Pitch Of Titin?
Patrick appears on Shark Tank, asking $500K in exchange for a 5% interest in the business. He recounts the Titin gear’s history.
Then Mark encourages Patrick to use his “science skills,” just as he did as a child with ankle weights. Patrick illustrates how weighted shirts distribute weight more uniformly than weighted packs or ankle weights.
Robert tries on the shirt while Patrick informs the Sharks that he generated over $1 million in revenue the previous month; the Sharks are impressed.
Titin sells primarily through internet retailers and earned slightly more than $600,000 last year. The current fiscal year’s sales will be $10 million. Titin also received a nearly $1 million cash inflow from venture capitalists, but he bought them out.
Patrick is unable to complete $1.4 million in orders due to a liquidity shortage.
Mark continues to have reservations about the shirts’ ability to boost performance — he’s out. Robert believes Patrick’s study is ambiguous; he becomes uneasy and leaves. Lori immediately follows.
Mr. Wonderful believes that the sales are going well. He offers $500K in exchange for 15% and compares Patrick’s style to that of an “arrogant ass.”
Daymond admits to struggling with the same issue of trust. Patrick reassures Daymond by stating that he is an Eagle Scout and intends to utilize the funds to purchase inventory.
Daymond offers $500K in exchange for 20% of the business in which he will manage inventory and production. Patrick responds to the offers with a 10% discount.
Mr. Wonderful and Daymond continue to maintain their respective percentages. Patrick accepts Daymond’s agreement and declares that they are going to show the other Sharks incorrect.
Final Deal: $500K for 20% stake in Titin
Did Titin Get A Deal On Shark Tank?
Patrick Whaley negotiated a deal with Daymond John in Shark Tank Season 6 Episode 7 worth $500,000 for 20% of Titin Tech, valuing the company at $2.5 million.
Following Titin’s Shark Tank victory in 2015, Whaley and Daymond began pushing the company, but things gradually deteriorated in the following years.
What Happened To Titin After Shark Tank?
Except for Daymond John, the sharks weren’t convinced by the TITIN business during the show.
Mark Cuban’s public disdain for Patrick’s product was weighed against his outstanding sales results, so investors opted out once Cuban made his reservations public.
Daymond saw past the misgivings and realized that investment and inventory management would resolve Patrick’s inventory problems.
Patrick confirmed he chose Daymond’s offer because it included inventory management.
Several high-profile consumers have already begun using TITIN since it was announced on the show, including Paul Millsap of the Atlanta Hawks.
The Boston Red Sox’s Dustin Pedroia and the Tokyo Golden Eagles’ Jonny Gomes have also been esteemed.
Patrick and Daymond believe TITIN’s future is bright as awareness and sales have grown since the show’s inception.
They are developing a more affordable model to appeal to the average fitness enthusiast and enter the mass market.
As of now, it’s too early to tell whether TITIN can revolutionize workouts for us mere mortals, but with the most affordable TITIN system currently priced at $250, I’ll stick with those ankle weights Mark Cuban mentioned for my run on Sunday morning.
Titin: Weighted Shirt Shark Tank Update
A Beyond the Tank segment was featured on episode 108 of the popular spinoff’s two-part finale.
There has been a change in investment from Daymond in the section, according to Titin. A full partner in the business would have invested $1 million rather than $500K for 25%.
Titin has expanded its product since appearing on Shark Tank to include Titin Tykes, which youngsters with sensory issues utilize.
Whaley, who John revisits on Beyond the Tank, is trying to get the business to relocate to Manhattan from Atlanta.
John is a persuasive individual. Titin has relocated its sales, customer support, and marketing offices to the Empire State Building (66th floor, where Daymond John’s office is located).
Whaley and John faced suspicions of fraud in the wake of Daymond’s investment following an inventor’s claims.
He sued them unsuccessfully, appointing himself as his attorney. That can be read about HERE. The company closed shortly after Mark Cuban requested that Daymond refrain from using the Houston Mavericks emblem on the Titin website.
Is Titin Still In Business?
Several years after appearing on Shark Tank, Titin’s website went dark, and their social media accounts were taken over.
It was quickly discovered that Titin, particularly Whaley, was embroiled in scandalous charges over stolen technology to construct Titin.