Techie + Gamers
    • Entertainment
    • Gaming
    • Tech
    • Social Media
    • About Us
    Techie + Gamers
    Home»Shark Tank»Chirp Wheel Net Worth – Update After Shark Tank
    Shark Tank

    Chirp Wheel Net Worth – Update After Shark Tank

    Techie GamersBy Techie GamersMay 21, 2023
    Chirp Wheel

    The Chirp Wheel is a simple back pain relief tool that hits all the right spots. Its design fits perfectly into its user’s shoulder blades to reach even the deepest parts of your spine. Tate Stock scored a deal on Shark Tank with Lori Greiner but sadly it didn’t close. As of 2023, Chirp Wheel is worth an estimated $50 million!

    Tate Stock’s Background

    Tate Stock was born into a farming family in Draper, Utah. As soon as he finished high school, he already had an associate’s degree. In college, he studied economics at Brigham Young University.

    In his youth, he also had experience as a missionary for The Church of Jesus Christ of Latter-day Saints. He was assigned to the island region of Suva, Fiji, for more than two years.

    Before becoming a CEO, the Utah native was already a businessman. He sold pest control products door to door and it was his main source of income for three years.

    The Birth of Chirp Wheel

    Stock once visited his aunt’s residence, where he saw a yoga wheel lying around. He searched for it online but couldn’t find it, so he decided to make his own. With $400, he bought PVC pipes and yoga mats to make a prototype, originally called Plexus Yoga.

    The company was founded in 2015 and within two weeks, Tate made $12,000 in sales. After a year, he made an impressive $180,000. Healthy early sales helped him redesign the product and add its patented spinal canal feature, which helps hit crucial muscles.

    The founder launched a Kickstarter campaign, raising $1.5 million from nearly 18,000 backers. In 2018, Chirp Wheel made $8 million and by 2022 it sold over one million units in total.

    Chirp Wheel’s Shark Tank Pitch

    The business continued to flourish in 2020 and had year-to-date sales of $12 million at the time of the pitch. He appeared on season 12 of the show, offering $900,000 for 2%. A $45 million is the biggest-ever valuation in the show’s history!

    Tate gave a brilliant pitch, his partner wore a bubble wrap outfit to demonstrate the practicality of his product. The Sharks loved it and the founder was forecasting sales of $40 million for 2021 with a profit of $12 million. However, Daymond John was confused as to why Tate was looking to raise money and was suspicious he just wanted the publicity.

    A bidding war broke out among three Sharks. Kevin and Robert both made offers that included a royalty. However, Lori Greiner won with her offer of 2.5% for $900,000 but wanted to be repaid within 18 months. Tate was hesitant about giving away 0.5% equity but eventually accepted the deal.

    After Shark Tank

    Unfortunately, it appears the deal with Lori didn’t close after the show as the company isn’t listed on her personal website. Most likely, Tate pulled out of the deal as he believed a $36 million valuation was too low. The CEO stated he heavily discounted the valuation to get a Shark.

    Since the episode aired, the founders haven’t released any recent sales figures but Tate stated in February 2021 that the business is “crushing it”.

    The Chirp Well is now an FDA-registered medical device which helps it stand out against similar products. They even launched a shipping company called StudShip to handle orders in the US. The products are available on GoChirp.com, Amazon, Target, Best Buy, Walmart, and Dick’s Sporting Goods. 

    On Amazon, the product has a review rating of 4.4 stars from over 15,800 users. The company is worth an estimated $50 million and has helped over 500,000 customers tackle their back pain!

    Share. Facebook Twitter
    Avatar photo
    Techie Gamers

    Started in 2017, Techiegamers is now home to over 500,000 visitors every month and has been featured on websites such as the LA Times, Yahoo, MSN and many more.

    Leave A Reply Cancel Reply

    Editors' Picks
    Top 20 Richest YouTubers Updated for 2023
    July 31, 2023
    Top 10 Most Successful Shark Tank Products
    September 3, 2023
    What Happened to Erik Per Sullivan? Dewey from Malcolm in the Middle
    June 13, 2023
    Techiegamers.com

    Email: [email protected]
    1968 S. Coast Hwy #675
    Laguna Beach CA 92651
    (949) 799-2165

    Facebook Twitter Instagram LinkedIn
    Popular posts
    • Diana and Roma Net Worth 2023: How Rich are the…
    • GATSBY Chocolate Valuation – Shark Tank Update…
    • Brad Lea Net Worth – Entrepreneur & Sales Expert
    • RokBlok Net Worth 2023 – What Happened After…
    • Mitch Blaschke Net Worth 2023 – How Rich is…
    © 2023 TechieGamers LLC
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms of Use
    • DMCA
    • Ownership Policy
    • Fact Checking Policy
    • Careers

    Type above and press Enter to search. Press Esc to cancel.