SpikeBall Shark Tank Updates 2022: Did SpikeBall get a deal on Shark Tank?

spikeball shark tank

What Exactly Is Spikeball?

Spikeball is a beach game that combines features of volleyball with a few more inventive innovations to create wonder.

In this game, two teams of two players battle (2 versus 2). Volleyball does not have sides, thus you must move with the ball.

Founder of Spikeball:

spikeball shark tank

Chris Ruder is the creator of Spikeball. Chris, a qualified photographer, worked as a salesperson for a number of companies.

He worked with Microsoft when Spikeball was still in its infancy. He left Microsoft once Spikeball stabilized and became the company’s CEO, a position he currently holds.

Surprisingly, Chris Ruder did not come up with the idea for Spikeball. Jeff Knurek invented it, but he either forgot or didn’t bother to file a patent for it.

The group raised $100,000 to establish the business.

Spikeball: Who Invented It?

Chris Ruder created Spikeball in Chicago, Illinois.

At the Shark Tank Pitch, What Happened to Spikeball?

Chris Is Most Likely Looking for A Shark to Help Him Establish the Game as A Sport Through Sponsorship and Broad Market Exposure.

Chris and His Crew Appear on Shark Tank with The Hopes of Receiving $500,000 in Exchange for A 10% Interest in Their Company.

An Exciting Game Is Played on Stage to Advertise the Items. They Explain how An Old Toy’s Trademark Has Expired. They Restarted Production and Began Selling Them. Competitions Are Held to Promote It.

So Far, They’ve Sold 29,000 Units in A Year. They Anticipate $3.2 Million in Sales This Year (2014).

Each Unit Costs $14 to Land and sell for $59.

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He Feels the Price May Be Reduced to $10. Since Dick’s Sporting Goods Has Placed a 10,000-Unit Order with Him, He Needs the Shark Funding to Produce More Units.

Kevin Is Hesitant About the Price but Chooses to Wait and See how The Other Sharks React.

Lori Is the First Shark to Depart, Stating that The Valuation Is Too High.

Nick Argues that He Is Simply Uninterested, Thus He Is Out.

Mark Thought the Notion Was Absurd at First, but As the Pitch Went on, He Began to Appreciate It. Regardless, He Goes Out, Citing the Cost.

Kevin Comes in And Offers a $500,000 Loan with A 9% Interest Rate in Exchange for A 10% Ownership in The Business.

In Exchange for A 25% Ownership Position, Daymond Is Ready to Pay $500,000 for The Licensing Rights. Chris gets 15% of The Vote, While Daymond Gets 22%.

When Chris Responds with A 20 Percent, Daymond Agrees.

This Raises the Company’s Valuation to $2.5 Million.

spikeball shark tank

After the Shark Tank Pitch, Spikeball:

The Daymond Transaction Never Materialized.

Since Its Debut in The Tank, Spikeball Has Been a Great Hit, with Contests Taking Place All Around the Country. in August of 2020, They Got a Patent for Their Game.

At Least Two Imitators Are Expected to Get Letters from Chris’s Lawyer Charging Intellectual Property Infringement.

Customers May Purchase the Product Through the Company’s Website, E-Commerce Platforms Such as Amazon, Retail Locations in The United States, and Distributors Worldwide.

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Since 2008, the Chicago, Illinois-Based Corporation Has Grown to Over 40 Full-Time Employees.

It Also Hosts 150 Tournaments Each Year on Average Throughout the World, Attracting Over Four Million Players.

The Brand Is Also Strongly Involved in Schools (at All Levels), with Physical Education Teachers Able to Join up For a Free Certification Training on How to Conduct a Game Amongst Learners and Condition Participants with Workout Routines.

The Company’s Creator, Chris Ruder, Is Still the Ceo.

As of April 2022, They’ve Sold Over 1 Million Devices and Earned $6 Million Each Year.

Spikeball’s Net Worth:

Net Worth Is Expected to Be Approximately $5 Million in 2021.

Shark Tank Update: Spikeball

The Shark Tank Blog is updated on a regular basis with information on entrepreneurs who have been featured on the Shark Tank TV show. Daymond’s transaction never went through. Since its debut in the Tank, Spikeball has been a huge hit with tournaments all around the country. Their game was granted a patent in August of 2020. At least two knock-offs are anticipated to get IP infringement letters from Chris’s lawyer. ESPN2 broadcasted the 2021 National Spikeball Tournament. They’ve sold well over 1 million units and generated $6 million in income annually as of February 2022.

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