FlingGolf Shark Tank Net Worth 2023
The entrepreneur in this company earned $300k from the Sharks on Shark Tank at a valuation of $3 million, but eventually signed a deal at a higher valuation of $1.2 million.
Since then, the company has achieved considerable success, with its estimated FlingGolf net worth now standing at $1.2 million.
What Is FlingGolf?
The Flingstick is a golf club that resembles the traditional version, but instead of a club head, it has a compact and stiff lacrosse basket. Fling Golf was established by CEO Alex Van Alen, and it is known for being a natural, entertaining, and sporty alternative to traditional golf.
The company’s website provides guidelines indicating that instead of using a club to hit the ball, players simply toss it with the New Swarm Flingstick thrower to get it closer to the hole.
FlingGolf sticks come in a range of sizes, styles, and designs, starting with the child’s size (The Junior), priced at $89, and progressing to larger sizes such as The Launch ($119), The Stinger ($149), and the Ballistick ($179).
Although the game of FlingGolf is only available on select courses, the sticks are available for purchase on the FlingGolf website, with wholesalers having the option to buy in bulk.
Rental packs will also be available starting in the summer of 2021, which will include 12 FlingSticks, regulations, score cards, and prepaid return postage. Customers can rent the 12 sticks for $200.
According to the episode summary, two entrepreneurs from Ipswitch, Massachusetts, have developed an exciting alternative to a classic sport. Alex Van Alen and John Pruellage pitched Fling Golf, a hybrid of lacrosse and golf that can be played on existing golf courses worldwide.
FlingGolf At the Shark Tank
On a recent episode of the television show Shark Tank, which was Season 12 Episode 24, Alex Van Allen and John Pruellage made a request for $300,000 in exchange for a 10% ownership stake in their company. This suggested that they believed their company was valued at around $3 million.
During the show, the Sharks expressed doubts about the company’s potential, with Kevin O’Leary suggesting that the “golf gods” would not be pleased. Despite this skepticism, the entrepreneurs remained determined to secure an investment.
Eventually, they agreed to accept Daniel Lubetzky’s offer of $300,000 for a 25% stake in the company, which resulted in a revised valuation of $1.2 million.
The agreement with Daniel did not go through, and the company does not seem to be listed on his portfolio website. I believe the deal may not happen because Fling Golf is already doing well financially. Within just two days of their appearance on the show, they sold more products than they typically do in a month.
Prior to their appearance on Shark Tank, John and Alex were actively seeking out golf courses, but now, the courses are reaching out to them to stock Fling Sticks in their pro shops. Fling Golf is gaining popularity, and players are contacting golf courses to inquire about playing the sport.
Fling Golf is even being played at exclusive courses like Pebble Beach, Torrey Pines, Streamsong Resort, and Chambers Bay. I predict that the sport will become more popular in the future, and 2021 sales are expected to exceed $1 million.
In May 2022, Fling Golf held the New Swarm FlingGolf Classic Tournament on May 21-22, which was the first World Fling Tournament. It was held at the American Classic Golf Club in Delaware and was broadcast on ESPN on August 5, 2022.
What exactly is a Flingstick?
Flingstick is a golf club that resembles a traditional golf club, except instead of a club head, it has a compact, stiff lacrosse basket.
According to the official website, “FlingGolf is a sport that is simple to learn and enjoyable to master.
The FlingStick, which is designed to be an all-in-one stick, is the only “club” required to play FlingGolf.
There are several varieties of Fling Sticks available for purchase on the Fling Golf website.
The first, The Launch, is marketed as a “no-frills” alternative and costs $119. The second model, The Stinger, is configurable and costs $149.
Who is Alex Van Alen?
Alex Van Alen, the creator and CEO of Fling Golf, was the CEO of the Essex County Trail Association prior to focusing entirely on the creation of Fling Golf.
What was the primary intent?
Van Alen’s objective vof making FlingSticks was to be able to toss a golf ball 200 yards, which would take him 18 months of prototyping and back-and-forth with a product development.
What happened to FlingGolf after shark tank?
FlingGolf sales have been quick since the show aired, and they’ve had to expand the size of their warehouse in Amesbury, Massachusetts, in order to carry more product.
What exactly was the deal?
The two offered 10% stock in their firm in return for a $300,000 investment and ended up with a contract from Daniel Lubetzky for $300,000 for 25% equity.
Which episode did FlingGolf featured?
In Shark Tank episode 1221, John Pruellage and Alex Van Allen pitch FlingGolf, a novel method to enjoy a golf course.
What’s the big deal about golf?
Robert discusses how golf is thriving in the midst of the Covid-19 outbreak.
Who is the founder?
Alex Van is the founder and CEO of FlingGolf.
What are the advantages of utilizing a FlingStick?
Unlike golf strokes, learning to make shots with a FlingStick is far easier and more forgiving.
What are the rules of the United States Golf Association?
They provide information on how to play on the tee, fairway, and green.
Where Can I play with Flingstick?
When you purchase a FlingStick thrower, New Swarm Sports promises that you will be able to play on a course near you.
What exactly is the Ballistick?
The Ballistick is designed for the tall and strong.
Did FlingGolf get a deal on Shark Tank?
John Pruellage and Alex Van Allen appeared on Shark Tank Season 12 to pitch their new sport, Fling Golf.
They proposed 10% stake in their firm in return for a $300,000 investment and ended up walking away with a bargain from Daniel Lubetzky for $300,000 for 25% ownership.
What can you do to help them?
Daniel claims he can get them into a variety of courses and connect them to some pro golfers; he initially offers $300,000 for 33.3 percent ownership.
What is FlingGolf worth?
FlingGolf struck a deal withDaniel Lubetzky, Kind foods entrepreneur on the episode valuing the firm at $1.2 million (for $300,000 for 25% ownership).
Was Fling Golf deal successful?
There is no confirmation that this deal was completed.
Who invented FlingGolf?
Alex invented the FlingStick and started FlingGolf with the goal of making 35,000 golf courses throughout the world more active and enjoyable for more people.