Roq Shark Tank: After the Shark Tank Pitch, What Happened to ROQ Innovation?

2022-08-20 12:43:53 By : Mr. Freeman Lin

Entrepreneurs have the chance to pitch their business concepts to a panel of rich investors on the popular television program Shark Tank. Sharks might invest in the business and aid in its expansion if they are pleased with what they hear.

Roq Innovation, one of these businesses, made an appearance on the program. Discover Roq Innovation’s post-Shark Tank fate!

A company called ROQ Innovation makes practical, everyday products that make living easier. Their best-selling item, HEADLIGHTS, is a beanie with an integrated LED light that also functions as a multipurpose utility.

A hands-free LED winter beanie called HEADLIGHTS is perfect for outdoor running, dog walking, and a number of other practical and safety uses.

Raquel has lofty goals for the future, including the creation of numerous additional distinctive products across a variety of consumer markets.

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Headlights Beanies include a distinctive built-in light. Our USB-rechargeable LED is portable and detached due to its small size. There are three brightness levels to choose from, and the battery life ranges from 1.75 to 8 hours.

When charging, there are no cables to bother with. The light flashes and turns solid when the battery is fully charged.

From infants to adults, one size covers most heads and is large enough to cover your ears. No of the material or color, all of our beanies are cozy, plush, and warm.

Related: Hug Sleep: What Happened to Hug Sleep Pod After Shark Tank Deal?

Headlights can be washed in the washing machine if the light is taken out. Dry on low heat or on a drying rack. Outdoor pursuits including jogging, biking, hiking, fishing, and more are perfect for Headlights.

For emergencies like blackouts, hurricanes, ice storms, power outages, or changing your tires on the side of the road, we advise keeping an extra one on hand.

The mind of Roq Innovation, Raquel Graham, graduated from Wesleyan University with a bachelor’s degree in history and economics before working as an operations analyst at J.P. Morgan.

She later established Roq Marketing Group, where she worked as a marketing strategist and consultant. Prior to that, she held the prestigious post of vice president and marketing director at Ebony Media.

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Raquel, who was keen to develop her career, balanced her work and family while obtaining her MBA from the Kellogg School of Management at Northwestern University. In 2009, she founded her own company, Roq Innovations.

Raquel established Roq Innovation in order to provide goods that would help overcome difficulties in daily life easier. Raquel wants to continue developing intriguing new products that are simple and straightforward to use but have a significant influence on people’s lives.

Roq Innovation now has a wide range of products available in its catalogs, such as Nike, which can be worn like a scarf but is more manageable and less bulky, and Headlights Beanies, which have a strong light attached to them, as well as light-up gloves and headbands.

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The hats are perfect for running or walking at night. They come in a variety of hues, including tie-dye. Caps are $29.99, while “faux fur” scarves are $40. The “glove lights” are $14.99, while the headbands are $24.99 each.

In order to raise $200,000 for a 15% ownership in her company, Racquel made an appearance on Shark Tank for Season 13 Episode 11. This equals a valuation of $1.3 million.

She talks about how crucial it is to have hands-free lighting at night. She pulls out a Headlightz hat and asks the sharks if they would like to sample their goods.

It’s “bright,” says Lori. Daymond sports a slanted hat. On HSN, she runs a store. During her presentation, Racquel stated that her lifetime sales totaled $2.4 million.

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Her products have appeared on the Home Shopping Network, Oprah’s list, and other television networks. She earned $1.4 from Headlights last year and anticipates earning $1.7 this year (2021).

She charges between $14.99 and $24.99 for them on her website and on Amazon. With the Sharks, Raquel talks about the “O List” and Good Morning America. On HSN, she typically sells items for between $25,000 and $40,000.

Raquel struggles to follow along. Mr. Wonderful wonders if she has key man coverage. Since 2018, her patent application has been pending. She is “all over the place,” says Peter. He asserts that she needs a supercharged entrepreneur’s help.

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Kevin promises to make her a proposal. She has, in his opinion, crazy chicken energy. He offers $200,000 in exchange for a $2 per hat royalty up front, which is reduced to $1 in perpetuity once he recovers his investment.

She developed a serious case of fungal pneumonia in the summer of 2016, which caused her to have a stroke. Soon after getting over her illness, she took off. She recalls being upset by the absurd chicken joke as she sobs while talking about the incident.

Kevin doesn’t say something to hurt Daymond; he says it out of appreciation. With her, Peter is smitten. He asserts that he can help her sell it all over the world.

After a brief delay, Peter offers $200,000 for a 25% ownership position in the business. Raquel has acknowledged that she does not enjoy receiving royalties.

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Lori is dismissed because she allegedly committed a similar offense. Mark says he’s going because he doesn’t think he can contribute anything worthwhile. Daymond has decided to leave because he thinks someone will come after her patent.

Peter is stunned by Raquel and thinks back to the time when he was 28 years old and lost everything. He says that he and Mr. Wonderful will split the deal. Raquel had a perplexed expression as Kevin and Peter exchanged glances.

Up until they recover $600,000, they offer $200,000 for 20% plus a $1 royalty per unit. Raquel says, “Deal.” With two Sharks deals, Raquel Graham exited the tank with them still operating.

Related: The Natural Grip: After Shark Tank, What Happened to The Natural Grip?

In order to raise $200,000 for a 15% ownership in her company, Racquel made an appearance on Shark Tank for Season 13 Episode 11. This equals a valuation of $1.3 million.

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She agreed to Kevin and Peter’s offer of $200,000 in exchange for 20% of the business and a $1 royalty each unit until they recouped $600,000, making the total valuation $1 million.

Roq Innovation attracted a lot of media interest and investment interest after appearing on the show. The firm has developed further, and it is now active in numerous nations. They currently provide a wide range of various products as a result of expanding their product line.

The business is still operating, and it appears to be doing well. It is always encouraging to see a Shark Tank-affiliated business succeeding and expanding.

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