Thompson Tee, the maker of an undershirt that prevents embarrassing sweat stains, was one of the veteran-owned businesses featured on Shark Tank in May 2017. After Thompson Tee founders Billy Thompson and Randy Choi pitched their sweat-proof technology and under-$25 shirts, investor Robert Herjavec offered them $700,000 as a loan at 18 percent interest. They accepted with a counteroffer. (Thompson and Choi went into the Tank looking for $700k in exchange for seven percent equity.)
What is Thompson Tee?
It is a Full-service American company Thompson Tee produces sweat-proof tee-shirts for men and women.
In order to avoid yellow stains, sweat, or odor from seeping through the fabric, the T-shirts have been constructed using a sweat-proof design. Tagless, lay-flat collars are among the features that keep your pet’s fur from getting scratched or bunched up.
Thompson Tee shirts were invented by Billy Thompson, the company’s founder, as a possible treatment for hyperhidrosis, a condition that causes excessive perspiration. Randy Choi, a close friend, and fashion designer helped him design the sweat-proof tee shirts he needed.
Thompson Tee Shark Tank Pitch
This week on Shark Tank, Billy Thompson and Randy Choi are pitching their sweat-wicking Thompson Tee shirts to the Sharks. They need the help of a Shark to help disperse them.
On Shark Tank, Billy and Randy sought $700,000 in exchange for a 7 percent share in their $10 million company. They give away freebies and tell their tales. They get more interested in numbers once we learn more about their history.
It costs $8.50 to make the shirts and they sell for between $25 and $30 on the market. In their first year of business, they made $90,000 in sales. They made $500,000 the following year. As of now, they are on track to make $4 million in their fifth year.
It’s said that they need the money to start producing their own products on-site. When Daymond hears this, he refuses to participate and walks out. Kevin is furious at the valuation and decides to leave. Mark is concerned that they don’t have a plan in place for how they want to spend the funds, so he leaves.
To reward Robert’s interest in the innovation, he offers to invest $700,000. When they keep staring at her, Lori leaves. It doesn’t take long for Robert to convince Billy and Randy to accept Kevin’s offer of a $700,000 loan at 18 percent interest in exchange for 7% equity in the business.
What Happened to Thompson Tee after Shark Tank
It’s no secret that Thompson Tee is one of the most popular brands of sweat-proof undershirts on the market today. Thompson Tee’s participation on Shark Tank a few years ago may be credited with bringing attention to this business.
Billy Thompson and Randy Choi came up with the idea for Thompson Tee, a t-shirt company. It is a clothing company that specializes in making undershirts that are sweat-proof and ultra-soft. The company’s two founders have always had to cope with the issue of excessive perspiration. As a result, their shirts were marred by unsightly perspiration stains. A lack of anti-sweat clothing prompted Thompson and Choi to start this company.
They devised and patented a design for an undershirt that would keep individuals from getting the unpleasant sweat marks and yellow stains that so many people have. A few months later, the company was born thanks to its “Hydro-shield sweat-proof technology” patent.
Using Amazon and their own website, Thompson and Choi began selling Thompson Tees. They were searching for new investors to come in and give their business the boost it needed, just like any new company. As a result of their decision to present the Thompson Tee in the Shark Tank, it has become a well-known Shark Tank item.
So, in order to assist you to decide whether or not to buy Thompson Tee, we’ve put together the following review. undershirt for women with sweat pads under the arms (slim fit, scoop neck) by T. Thompson White