The Wingman founders, Pat Hughes and Mike Fox, are both from Milwaukee, Wisconsin. The unique life vest attracted the attention of Shark Tank allowing them to make their pitch to the Sharks. The life vest is uniquely thin and is inflatable.
They hold a patent license for their unique vest. The company is Hyde Sportswear, and the Wingman is the inflatable life vest.
the Wingman one-size fits all life vest
The Wingman is one-size fits all vest, with an ultra-thin profile. The life vest contains a ripcord that is used to release the CO2 cylinder and inflate the vest. The life jacket also includes a pocket for storage. Choose from Black, Red, Tangerine, and camouflage colors.
Season: 9 Episode 919
First Run: 2018/1/21
Shark: Mark Cuban, Sara Blakely, Kevin O'Leary, Lori Greiner, Daymond John
Company: the Wingman
Entrepreneurs: Pat Hughes, Mike Fox
Ask: $200k for 10% equity
Deal: No Deal
Pat and Mike ran a Kickstarter campaign in August of 2015, raising $67,529 and having 346 backers. The Life vest received US Coast Gard approval after extensive testing. Hyde also won the Wisconsin Governor's Business Plan contest in 2016.
High-Speed water sports such as water skiing are not recommended applications for the Wingman because you do need to pull a ripcord to activate the life vest.
The vest is reusable and easy to repack after the ripcord activates the C02
The slim fit makes it a perfect vest for surfers who stay away from bulky jackets.
Pat and Mike recommend the Wingman for water activities like surfing, swimming, kayaking, fishing, boating, sailing and even triathlons.
The vest looks great and is sure to be of interest to the Sharks. The question will be what are the sales to date, what type of evaluation are the placing on the company and how much equity are they willing to give up for a piece of their business.
Lori would love to wear it, but it is too early for her so she is out.
Sara does not like getting into liability type investments so she is out.
Daymond thinks there is too much competition but it is super cool.
Mark is out because they have so much left to do.
Kevin. Likes the product and will give $200k but he wants 50%. Asked Kevin if he would do $200k for 20%. Kevin says no. They came back and asked $200k for 25% and Kevin said no.
Lori asks if they have a patent – has US utility patent that is granted.