Readerest is a corporation established in the United States that is most known for its magnetic eyeglass holder, commonly known as the Readerest (pronounced Reader Rest)
After turning 40, creator Rick Hopper began using readers and began losing, scratching, and dropping his glasses on a regular basis.
Rick created prototypes in 2010 utilizing paperclips and magnets to solve the challenge of keeping his spectacles safe and secure.
|Company Net Worth:||$2.5 Million – Estimated|
|Pitch:||Magnetic Clip for Eye Glasses|
|Asked For:||$150,000 for 15% equity|
|Deal:||$150,000 for 65% equity|
Net Worth of Readerest
According to biznewske, During the Shark Tank pitch, the company's valuation was $1 million, and the company has made a lot of sales since then, therefore the company's net has increased.
Who is the Founder of Readerest?
The founder is Rick Hopper, who lives in Orange County, California.
He began building monoliths as a child with Lincoln Logs and Erector sets.
He continued in this manner into adulthood, establishing a career in window paneling and spending his spare time producing furniture for his little family.
What Happened to Readerest After Shark Tank?
Lori and Rick's successful acquisition significantly expanded the company after she persuaded him to leave his garage and secure production for the Readerest.
Lori and Rick anticipated that the product would sell for more than $6 million when it was broadcast, and it sold out in five minutes. The market is huge, with over 126 million eyeglass wearers in the United States.
They made $13 million in sales three years after the initial air date. The company also released reading glasses. In 2021, the company made $5 million in annual revenue.
What Happened After $150k in Readerest? Lori Greiner Shark Tank Transaction
The is Readerest an ingenious invention: it is a magnetic clip that keeps eyeglasses when connected to a shirt.
Rick Hopper of Orange County, California, the founder of ReadeREST, pitched his $1.4 million business on Shark Tank in 2012.
Lori Greiner offered Hopper a $150,000 investment in exchange for 65 percent stock after much deliberation. Greiner assuaged Hopper by promising to make him rich.
ReadeRest Sexy Beach computer readerhttps://t.co/Vhg5fnXtYV#readerest #computerglasses #computereyewear #bluelightblock #student #teacher #college #highschool #parents #magnification #clearlens pic.twitter.com/DkcJ84wCLZ
— ImpulseEyewear.com (@ImpulseEyewear) August 22, 2022
Frequently Asked Questions
How Much Has Readerest Earned?
Readerest Claims to Have Produced $13 Million in Revenue in the Three Years Since Its Appearance on “Shark Tank.”
Who Invested in Readerest?
Rick Hopper Displays a Collection of His Invention, the Readerest, a Magnetic Eye-glass Holder for Which He Was Featured on Abc's “Shark Tank.” Lori Greiner, the Show's “Shark,” Offered Hopper $150,000 for His Goods on the Show.
Is Readerest Still in Business?
Rick Remained Active in the Business, and His Website is Still Functioning With an Enlarged Product Line Years After His Shark Tank Debut. Pink Readerest Clips Are Available to Encourage Breast Cancer Awareness, as is an Unusual Design Option That Resembles a Pair of Sunglasses.