Adventure Hunt Shark Tank Update 2022 | Adventure Hunt Net Worth 2022
About Adventure Hunt
Adventure Hunt, a company founded in 2015 by Jared and Sean Bingham, began as a marketing event for KZ but quickly expanded to organize real-life treasure and scavenger hunts, as well as corporate events in several countries such as the United States, Canada, Australia, and New Zealand.
In January 2019, the founders had the opportunity to pitch their company on the popular TV show Shark Tank, where their pitch was well-received and deemed ”
The Best & Most Entertaining Shark Tank Pitch of All Time!” by media and ABC. Within the first 18 months of establishment, Adventure Hunt generated $800,000 in sales.
How does Adventure Hunt work?
Adventure Hunt is a company that designs and executes scavenger hunts in urban areas, which offers prizes such as trips to Panama and cash rewards.
Individuals form teams of two to four people, and complete tasks such as cracking an egg on their head, practicing yoga on a raft in a lake and more, which are filmed and then posted on Instagram for a chance to unlock a treasure map that leads them to a hidden stash of treasures located somewhere in the city.
What Happened at the Adventure Hunt Shark Tank Pitch?
On Shark Tank, Sean and Jared of Adventure Hunt requested $150,000 in exchange for a 10% stake in their company. They shared that their hunts typically attract around 300 people, with prices ranging from $32 to $99.
Barbara Frankel offered funding in exchange for a 25% share of the company but the brothers decided to wait for a better offer. Frankel became upset when Robert Herjavec offered the same deal.
Ultimately, the Binghams decided to partner with Herjavec, accepting $150,000 for a 20% stake in their company, leaving Frankel disappointed.
What Happened To Adventure Hunt After Shark Tank?
After his appearance on Shark Tank, Robert Herjavec saw potential for success in the corporate sector for Adventure Hunt and agreed to invest $150,000 for a 20% stake in the company.
This helped the company expand their corporate event offerings and they have since hosted a variety of treasure hunts, from small family events to large corporate team-building exercises and even for the United States military.
Among their clients were Ancestry.com, Orange Theory Fitness, USAA, and Keller Williams. During the pandemic, the company attempted to adapt by offering virtual treasure hunts, but has not fully recovered from pre-pandemic levels as of June 2021.
Adventure Hunt Net Worth 2021
In Shark Tank, Robert Herjavec invested $150,000 for a 20% stake in Adventure Hunt, which valued the company at $750,000. As of 2021, the company has grown significantly and is now valued at almost $10 million.
Adventure Hunt FAQs
Who is Adventure Hunt?
Adventure Hunt works on a style similar to the popular television show Amazing Race, providing clients with fun and adventure in the form of scavenger hunts.
Jared and Sean Bingham, brothers from Utah, are the co-founders and creators of Adventure Hunt.
What was the deal?
Robert invested $150,000 for a 20% ownership in Adventure Hunt. The deal with Robert was accepted, and he helped the company in expanding their corporate events space.
How does Adventure Hunt work?
Adventure Hunt provide treasure hunting experience. They bury treasure chests in a community and people compete in teams of two or more to find the chest
Discounts on vacations are also available, as is a grand prize of a free trip to the Red Frog Beach Resort in Bocas del Toro, Panama.
Who is the founder of Adventure Hunt?
Jared and Sean Bingham, brothers from Utah, are the co-founders and creators of Adventure Hunt.
What are of Adventure Hunt events?
The entire experience, according to the company, is ideal for “corporate events, birthday parties, youth groups, scavenger hunts, geo-caching, team-building exercises, and more.”
What is the game?
People compete in two-person teams to find buried treasure chests.
How does Adventure Hunt work?
Adventure Hunt is a company that owns mobile applications to organize treasure hunts.
What was the offer?
They accepted Robert’s offer: $150k for 20 percent.
What are the challenges?
In 2020, the company experienced pandemic related challenges for this business.
What is Adventure Hunt?
Adventure Hunt is a scavenger hunt, where teams can solve clues and challenges to win loads of adventure gear and free vacations in Panama.
What their inspiration for Adventure Hunt?
They loved adventure and travel and we wanted to inspire others to get out more and break out of their comfort zone physically and socially.
Is Adventure Hunt still in business?
Adventure Hunt is an awesome place for family events. The biggest perk is that everyone can enjoy the different types of activities that they like.
The company is still in business and expanding.
