Shark Tank Pitch

Rootsuit Shark Tank Update

Published:

3m

New Orleans, LA

Rootsuit Shark Tank Update


Pitch Overview
NameRootsuit
Main PresentersColin Grussing
Presenter Image
Rootsuit Entrepreneurs: Colin Grussing
Product Image
Rootsuit Product Image
Last Known in Business1/1/2016
Main Location

New Orleans, LA

Loading Map

Order Shown in Episode3
Final DealAll Sharks went Out

Rootsuit Shark Tank Pitch

Colin Grussing studied mechanical engineering at Yale and was not particularly creative but his New Orlean's hometown may have inspired him to create full-body spandex tight suits of various styles. Rootsuits allow people to stand out of the crowd or as Daymond joked get seven to ten years in jail when worn in a bank.

The sharks estimated the Rootsuit was a niche gimmick and assumed Colin would say he did $10k in sales last year, but instead, Colin sold 10k units amounting to $525k in revenue with $140k in profit.

Colin was the first to create these suits but has no patent and competitors have entered the space, which scares several sharks out. Daymond makes an offer but became hesitant to keep it on the table.

Often this happens. A dog has a bone in its jaws. It gets to a bridge. It looks down. It sees the reflection of another bone, opens its mouth to get that one, and oh no the first bone's gone.

—Kevin O'Leary

Daymond backed out and Kevin diagnosed Colin with bone-in-mouth disease. Mark is the last shark but thinks the business is best suited to Colin running it by himself and goes out.


Offers

Made ByLabelSharks Part of DealSummary
CompanyOffered$100k for 15% of company
SharksOutRobert HerjavecOut
SharksOutLori GreinerOut
SharksOutKevin O'LearyOut
SharksOfferedDaymond John$100k for 50% of company
SharksOutDaymond JohnOut

Mark Cuban
Mark Cuban

Mark Cuban

Daymond John
Daymond John

Daymond John

Out

Kevin O'Leary
Kevin O'Leary

Kevin O'Leary

Out

Lori Greiner
Lori Greiner

Lori Greiner

Out

Robert Herjavec
Robert Herjavec

Robert Herjavec

Out


Updates in Shark Tank Episodes

Update SeasonUpdate Episode
No Episode Updates

Rootsuit After Shark Tank

As of 2022 the Rootsuit's Twitter, @rootsuitnation

Link Preview

@rootsuitnation

https://x.com/rootsuitnation

, hasn't Tweeted since 2016 and the website no longer exists in 2022.

Colin Grussing's doesn't appear to have updated his LinkedIn

Link Preview

LinkedIn

https://www.linkedin.com/in/colin-grussing-729b702b

since 2013, but it appears he had started a "sidecar" business and then made an attempt to start a new business each week for 52 straight weeks under the company 52businesses.

In a 2015 article by entrepreneur.com

Link Preview

entrepreneur.com

https://www.entrepreneur.com/living/this-entrepreneur-launched-52-businesses-in-one-year/244692

, Colin had made some money in real estate, which helped him put roughly $100k into 52businesses. 52businesses included businesses such as Apocalypse Camp, which raised $5k on Kickstarter

Link Preview

Kickstarter

https://www.kickstarter.com/projects/121289232/apocalypse-camp-new-orleans

. By 2015 most of the businesses were still operating. One of the largest money makers was selling Shark suits after the Super Bowl halftime show starring Katy Perry generated hype, which brought in $1k to $2k weekly.

Colin realized he was too stressed by 52businesses after his fiancé ended their engagement after Colin treated her more like an intern. The two eventually became friends again and Colin planned to start the endeavor again the next year and sought to partner with local firms to make securing funding each week more pragmatic. However the last Tweet from @52businesses

Link Preview

@52businesses

https://x.com/52businesses

came in 2016 at the same time Rootsuit appeared to have gone silent.

Jason Seidman worked with Colin on 52businesses and Tweeted from @jsdseidman

Link Preview

@jsdseidman

https://mobile.x.com/jsdseidman

about selling a shark suit on amazon in 2017 but it is unclear Colin has been up to since 2016 as of 2022.


Join the Newsletter

Stay up to date on the latest news and updates occuring in the Shark Tank world.


Join the Newsletter

Stay up to date on the latest news and updates occuring in the Shark Tank world.

icon
Powered byContibase