Idaho couple struck a $200K deal on Shark Tank. That’s not all they walked away with
An Idaho couple sealed a deal on “Shark Tank” for a $200,000 investment — and secured additional funding for a cause close to their hearts.
Chris and Geanie Rodgers, of Eagle, brought their utility rope product on the ABC show, where a handful of well-known investors hear pitches each episode from entrepreneurs hoping for financial backing. The episode featuring the Rodgers’ product, called Rapid Rope, aired Sunday on ABC.
Rapid Rope is a flat utility rope packaged in a canister so it can be easily dispensed and cut to size, the couple told the Statesman in a phone interview before the show aired. About eight years ago, Chris and Geanie conceived of the idea for a new version of the essential item that wouldn’t impede their outdoor adventures.
On “Shark Tank,” the Rodgerses staged a zombie attack to help illustrate how useful their product can be. As Chris held off the undead assailant, Geanie fumbled with a tangled utility rope before trading it for a canister of Rapid Rope, which the couple quickly used to ensnare the zombie.
The act caught the attention of guest “shark” Rohan Oza, who helped build huge brands like Vitaminwater and Popchips.
“I loved the pitch. That zombie is one of the coolest intros that I’ve seen,” Oza said.
The Rodgerses quickly got down to business: They were looking for a $200,000 investment, with the investor getting a 20% stake in the company. The Rodgerses said they’d already invested $115,000 of their own money and seen $172,000 in lifetime sales, making them debt-free.
Still, the couple said, they’d like to be able to focus completely on their company. Chris has continued to work as an electrical lineman to provide for the family after Geanie quit her nursing job to care for one of their five children full-time. The 12-year-old, whom the couple adopted from Ethiopia, has been in and out of hospitals after being diagnosed with ulcerative colitis.
As the Rodgerses told their story, the sharks began to bail one by one. First, Lori Greiner opted out. She was followed by Mark Cuban and Kevin O’Leary, who each said they didn’t know how to “blow up” an outdoorsy product like Rapid Rope.
Next, Oza declined an investment — but not before pledging $10,000 to a nonprofit the Rodgerses work with the build schools in Africa.
With one shark left, things didn’t look good for the Idaho entrepreneurs. Barbara Corcoran, a real estate mogul, seemed apprehensive at first.
“I’ve been sitting here thinking to myself, ‘What do I know about rope?’ Not a damn thing,” she said. “But I’ve fallen in love with you, which is not a good reason to make a business decision at all. Except, ironically, my best decisions on this show have been from my heart. And those, ironically, are the ones I’ve made the most money from.”
Corcoran offered the Rodgerses $200,000 but asked for a 30% stake in the company. The Idaho business owners accepted.
This story was originally published January 23, 2020 at 11:20 AM with the headline "Idaho couple struck a $200K deal on Shark Tank. That’s not all they walked away with."