Podcast Air Date: January 11, 2021
Derek Pacqué started his first business when he was six years old and ever since has focused on creating solutions that provide better experiences. Coming out of business school, after several poor interactions with checkrooms, Derek created CoatChex, a check-in/check-out technology. Derek appeared on Shark Tank in 2013 (Season 4, Ep 1) and the original idea has evolved into something much bigger as Derek and his team continue to iterate and learn from customers. Today, CoatChex is the flagship brand of Chexology and has expanded beyond coat check to address other pain points associated with the event and hospitality industry, including a pivot in 2020 to luggage storage at hotels and casinos.
Derek is proudly building a company dedicated to helping companies elevate their customer experience by eliminating the paper claim ticket — one tear-away stub at a time.
"I would have loved to work out a deal with Mark Cuban, but I also understood the value of the company. Trust me, I didn't want to be the first guy to turn down Mark Cuban."
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CoatChex started the "old fashioned way" as coat checkers using paper claim tickets. Guests know that checking their items means probably losing their ticket, experiencing long lines, and maybe lost or damaged items. They know it means frustrated customers, unclaimed items, and lost revenue. It shouldn't be this hard. Derek knew there had to be a better way. CoatChex makes it possible for the hospitality industry and entertainment venues to deliver exceptional guest experiences.