Size doesn’t matter when it comes to successful products. Rick Hopper invented the tiny but practical ReadeREST magnetic eyeglass clip which is one of the smallest items featured on Shark Tank. On the show, the founder made a deal with Lori Greiner. At the time of writing, ReadeREST is worth $4 million.
Rick Hopper
Rick Hopper was raised in Anaheim, California, before moving to Fullerton. Growing up, he didn’t receive any formal education, but he loved to tinker with different things in his home. His first invention was a windsail to slow his skateboard down when going downhill.
He landed his first job at Home Depot as a department supervisor and pro sales trainer. Rich also did some carpentry work part-time to provide for his family.
In 2001, he left Home Depot to start his first business, TrimQuick, a vinyl trim provider for window companies. The venture was a success, and the entrepreneur sold it for a profit.
How ReadeREST Was Born
While still working on TrimQuick, Hopper already planned to start another business for his eyeglass problem. At age 40, he needed glasses to read. But when he wasn’t using them, he’d placed them in his collar, which always caused them to fall.
The California native bent a paperclip into a certain shape and attached it to a magnet. It worked, so he took it everywhere he went. People who saw it often asked what it was and how they could get it.
Rick noticed that there was a demand for this kind of product. Thus, with the money he made from his first startup, he fine-tuned his magnetic eyeglass holder, and ReadeREST was launched in 2011. The product made $65,000 after a test launch.
Facing the Sharks
In 2012, ReadeREST was getting so many orders that Rick Hopper couldn’t keep up. He appeared on 3 season, asking for $150,000 for 15% equity.
The entrepreneur made an entertaining introduction, stumbling to the ground and explaining the struggles of constantly losing his glasses. However, most of the Sharks didn’t see the potential of his invention.
The Sharks got hesitant when Rick stated he acquired the patent for $5,000 from the original owner. Nevertheless, Lori Greiner wasn’t afraid to make an offer. She proposed $150,000 for 65%, and Hopper accepted after taking time to consider it.
Still Going Strong After a Decade
Lori was true to her word. She put ReadeREST on QVC immediately after filming, and it sold out within five minutes. By the end of 2012, the company had done $6 million in sales, a remarkable turnaround for a product that had been made by hand in Rick’s garage just months earlier.
The product became available in Ace Hardware, Walmart and Target, and can also be purchased on ReadeREST.com and Amazon, where it holds a 4.6-star rating from thousands of customer reviews. Since appearing on the show, ReadeREST has expanded its product range to include reading glasses alongside four varieties of magnetic holders.
The loss of Bed Bath & Beyond, once a key retail partner, following its bankruptcy in 2023 likely dented distribution, though the brand’s Amazon and direct sales presence has helped offset that.
ReadeREST makes around $5 million in annual revenue, with lifetime sales since Shark Tank estimated at over $30 million. Despite giving away 65% of his business, Rick Hopper became a millionaire, exactly as Lori promised. It is a deal she frequently cites as one of her favourites, alongside Scrub Daddy and Squatty Potty.
Today, the company is worth an estimated $5 million based on its annual revenue. ReadeREST is one of Shark Tank’s quiet long-term success stories, a product that never exploded but has sold consistently for over a decade, proving that the smallest ideas can have the longest legs.
