Rockville entrepreneurs Tiffany and Chris McCasland, co-founders of The Chair Blanket, appeared on ABC’s Shark Tank Wednesday night, where they secured a deal with investor Robert Herjavec.
During their pitch, the couple asked the Sharks for $200,000 in exchange for a 10% stake in their company. The Chair Blanket, which sells for $49.99, is designed to keep outdoor chairs dry with a waterproof exterior while providing warmth with a fleece-lined interior.
As the negotiation unfolded, several Sharks expressed concerns about potential knockoffs and competition in the outdoor products market. Daniel Lubetzky said he liked the product but ultimately declined to invest due to those concerns. Lori Greiner and Fawn Weaver also decided not to move forward.
Kevin O’Leary offered $200,000 for 15% of the company, but proposed taking the equity from the founders’ existing partner and also asked for a 4% royalty on sales. Robert Herjavec countered with an offer of $200,000 for 20% of the company.
Chris McCasland asked whether Herjavec would consider reducing the stake to 15%, but Herjavec declined. In the end, the founders accepted Herjavec’s offer, securing $200,000 for a 20% stake in The Chair Blanket.
The McCaslands hosted a public watch party at their family-owned restaurant, Quincy’s Potomac Bar and Grille, bringing together supporters from across Rockville, Potomac, and Montgomery County.
Chris McCasland, a Montgomery County native who grew up in Germantown and attended Daly Elementary, Neelsville Middle School, and Watkins Mill High School, previously co-founded City Bonfires, a portable fire pit company that gained national attention during the pandemic. Launched with business partner Michael Opalski, City Bonfires grew from a garage-based startup into a national brand, selling more than 1.5 million units.
