|SEASON 9 EPISODE 19|
|Pitch||worlds thinnest inflatable life jacket made for high performance water activities|
|Entrepreneur||Mike Fox and Pat Hughes|
|Asked For||$200,000 for 12.5%|
What is Hyde Wingman?
Hyde Wingman makes versatile life jackets that feature an inflatable bladder activated by a carbon dioxide cartridge.
The jacket is designed for sleekness, and once the user dives into the water, a ripcord activates the cartridge, inflating the vest.
Tri-athletes, fishermen, surfers, and kayakers may customize the jacket to suit their needs. The jackets also have extra hydration bladders to store drinking water.
Who Owns Hyde Wingman?
The company was founded by two long-term friends, Michael Fox and Pat Hughes. Michael graduated with a Bachelor’s degree in Financial Management from the University of Saint Thomas.
Pat worked at the Roaring Fork Restaurant Group as a Real Estate Accountant, having graduated from the University of Wisconsin-Madison with a degree in Accounting and Entrepreneurship. At the moment, Pat is the Product Manager in charge of Portfolio Construction and trading at Ridgeline.
The pair were inspired to make a thinner and more adaptable life jacket when a tri-athlete drowned during Hughes’s first triathlon in 2012. They sought to develop a more adaptable and sleeker design jacket that users could modify to suit their needs.
Through thick and thin, they persevered three years of patenting and designing to make their product.
Additionally, the duo encountered capital unavailability problems. They faced this challenge by engaging in a Kickstarter campaign which eventually revived their business. The two aim to increase sales beyond the online market.
What Happened After Shark Tank Update
Is Hyde Wingman Still in Business?
The company’s parent organization is now Hyde, and it has dropped its price for life jackets. Additionally, it has also diversified to other colors, including tangerine, black, and camo.
However, some faults have emerged in the product, including a defective zipper, sensitive ripcords, and unprecedented inflation and deflation. The company’s acceleration has progressed, albeit slower than the owners projected.