What Is Tail Lightz?
Tail Lightz is a line of magnetic patches with LED lights that can be attached to handbags, hats, and the back pockets of shorts and pants.
Tail Lightz was created by Baton Rouge, Louisiana resident Kyle Rainey. The reason Kyle Rainey has created so many things is that marketing has always been his area of expertise. The Recycling Cycle, an adjustable recycle bin cart that makes it easier to haul trash to the curb, was one of his early achievements.
After earning his college degree, he started working in the retail shipping and package business until eventually starting his own company, Postal Express.
Who Is the Founder of Tail Lightz?
Tail Lightz was started by Baton Rouge, Louisiana resident Kyle Rainey. After his daughter asked him for sneakers with LED lights, Kyle Rainey came up with the concept for Tail Lightz.
He thinks they’re awesome and wishes her shoes lit up whenever she walked. Kyle Rainey used his own skills to make a product that is also illuminated but is not worn on the feet rather than buying the LED sneakers.
Tail Lightz is luminous stickers that you would slap on your jeans’ back pockets. Over 80 patents and self-taught, Rainey lacks corporate experience. He is seeking a partner and an investor who can assist him in transforming his idea into a successful business.
What Happened to Tail Lightz at The Shark Tank Pitch?
The inventor of the Tail Lightz product, Kyle Rainey of Baton Rouge, Louisiana, makes an appearance with his daughter and niece on Shark Tank episode 303. He is seeking a partner and an investor who can assist him in transforming his idea into a successful business.
Rainey sought $50,000 when he joined Shark Tank in exchange for a 50% ownership in his $100,000-worth company. His daughters come over to show off the Tail Lightz. According to him, there are no comparable products available for those who enjoy “drawing attention to their best advantages.”
To show how the Tail Lightz responds to motion, the girls did a quick dance performance. Who’s eager for venturing into the dark with an experienced investor to light things up? Rainey asks while displaying prototypes.
Responding is Barbara Corcoran. “Who had planned? He was organized. to take a risk. She tells Rainey that his design would be “old” and “inconvenient” to wear, that the devices wouldn’t hold up to cleaning, and other things.
One of the models is asked by Mark Cuban if she would wear the Tail Lightz on a date. Cuban seizes on the girl’s uncertainty. You have your main audience right here. They think this will get on, but they just can’t see it.
According to Kevin O’Leary, the idea is “not proprietary.” He exited. Robert Herjavec agrees with Corcoran and rejects doing business, calling the designs “dated.” Daymond John claims to have “saw ten of these in the last year.” John left as well.
Mark Cuban was the only Shark left. No matter how many times you fail, Rainey claims, it doesn’t matter. But he does not think this is the product for Rainey. “All it takes was one to become an instant hit,” he said. He exited. In the end, Rainey left the pitch without concluding a contract.
What Happened to Tail Lightz After Shark Tank?
Rainey was adamant about commercializing his innovation despite losing on Shark Tank. In his spare time, he keeps designing in the hopes of coming up with a notion that will help him achieve the success he seeks.
He gave his Tail Lightz a more appropriate name, “Blinkers,” but hasn’t yet made them available for purchase. Persistence may be important for success, as Cuban noted. The Sharks didn’t think Tail Lightz had much potential, but they seemed to agree that Rainey should keep chasing his goals in the hopes of finding the one idea that will really take off for him.
Even though the company stopped operating in 2015, Rainey is still running RainCo Products as a consultant to entrepreneurs.
Net Worth of Tail Lightz:
Prior to and following the pitch, the company was valued at $100,000. The company went out of business in 2015, hence its net worth cannot be determined.
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