|SEASON 12 EPISODE 3|
|Pitch||exercise wheel for back pain relief|
|Asked For||$900,000 for 2%|
|Deal||$900,000 for 2.5% to be repaid in 2 installments within 18 months|
What is Chirp Wheel?
Chirp Wheel is a product designed to relieve tension and pain along the spine and shoulder blades. It is different than that of a foam roller in its structure – the wheel is only 5” wide, delivering all the right pressure to the muscle tissue around the spine.
Foam rollers, however, are unable to achieve this as they are roughly 16” wide. The wheel is available in three different sizes to provide direct pressure to specific muscle groups and is the only wheel available that is FDA-registered as a Class 1 Medical Device.
Who Owns Chirp Wheel?
Tate Stock is the founder and CEO of Chirp Wheel. He attended Brigham Young University where he obtained a Bachelor’s degree in Economics in 2015.
In that same year, Stock went on to invent Chirp, originally known as Plexus Yoga. Before becoming an entrepreneur, he was a Missionary between 2011 and 2013.
Stock remains the CEO of the multimillion-dollar enterprise today, continuing to help millions of people with pain relief.
Tate Stock is the perfect example of an entrepreneur and what it means to be a risk-taker.
The summer before he started Chirp, he sold pest control door-to-door – managing to make enough money for him and his wife to live off of for three years while he got his company started.
In his final semester of college, he found a roller product in his aunt’s house but had trouble finding something similar online. He became inspired and took a risk – investing over $400 worth on a prototype and putting it up on Amazon.
In the first two weeks, he sold $12,000 worth of his product.
After directing his focus on selling to the yoga market with his team of interns, Chirp brought in $180,000 in sales. He then decided to upgrade the wheel and launched it on Kickstarter, raising $2.2 million.
As of today, he has sold over 1 million Chirp Wheels from his $400 investment.
Chirp Wheel Shark Tank Update
Did Chirp Wheel Get a Deal on Shark Tank?
On Shark Tank Season 12 Episode 3, Tate Stock entered the Shark Tank looking for $900,000 for 2% of his exercise wheel and accepted an offer from Lori Greiner of $900,000 for 2.5% to be repaid in 2 installments within 18 months.