Gold Rush Nugget Bucket Shark Tank Net Worth 2023
Mark was a contestant on the popular television show Shark Tank, seeking a financial investment of $60,000 in exchange for a 15% stake in his firm, Gold Rush Nugget Bucket. This investment would have valued his company at $400,000.
However, Mark accepted an offer from Robert, one of the “sharks,” who offered $60,000 for a 25% stake in the company, which reduced the valuation to $240,000.
Since the show aired, Gold Rush Nugget Bucket has experienced significant growth, resulting in an increase in the company’s value. Therefore, the current valuation of the company is evidently higher than $240,000.
What is Gold Rush Nugget Bucket? Who is the Founder of Gold Rush Nugget Bucket?
The Gold Rush Nugget Bucket is an innovative piece of gold panning equipment that simplifies the process of discovering gold for everyone. To use it, all you have to do is add soil and water.
The bucket uses gravity to concentrate heavy gold dust in a small bowl, while the liquid mixture escapes through a funnel at the bottom of the bucket, making panning easy.
The Gold Rush Nugget Bucket can recover up to 99 percent of gold nuggets, 90 percent of gold flakes, and as much as 90 percent of gold dust, making it one of the most effective gold panning tools on the market.
The kit consists of a bucket with various filters, funnels, and pans that collect gold and silt in a concentration basin. This method of panning for gold is much simpler than using a traditional pan.
The Gold Rush Nugget Bucket is proudly made in the United States and is protected by multiple patents in both the US and Canada. It is also endorsed by the Gold Prospectors Association of America (GPAA) and has been on the market since 2012.
The kit fits inside a 5-gallon bucket, weighs approximately seven pounds, and comes with everything you need to start panning for gold. However, if you want to purchase the Gold Rush Nugget Bucket, it will cost $99.95 plus shipping on Amazon.
The founder of the Gold Rush Nugget Bucket is Mark Peterson from Eugene, Oregon. He came up with the idea in 2011 while managing his company, Western Mortgage Brokers, Inc.
He wanted to keep his two daughters occupied and away from electronic devices, so he made a device out of a few screens that fit onto a 5-gallon bucket with a hole in the bottom.
The kids enjoyed digging in the soil and pouring water to find gold, but they ended up having fun collecting interesting rocks for their rock polisher and some river-polished glass nuggets.
This is when Peterson realized that this self-contained gold panning equipment could become a commercially successful product.
He spent the next year and a half refining his design, and the Gold Rush Nugget Bucket is now a patented product certified by the Gold Prospectors Association of America.
Gold Rush Nugget Bucket Shark Tank Pitch
Mark pitched his product, the Gold Rush Nugget Bucket, on Season 6 Episode 19 of Shark Tank. He was seeking a $60,000 investment in exchange for a 15% stake in his company, which had a $400,000 valuation.
Mark demonstrated how his product made gold panning easier by using a funnel to filter out dirt and water. The inspiration for the product came from his daughters playing with buckets while searching for pebbles.
When asked about sales, Mark revealed that he had made $290,000 in the first 17 months, with each unit priced at $99.95 plus shipping and handling. He also mentioned that he had invested $192,000 of his own money and had two patents in the United States.
Although some Sharks found the product enjoyable, Mark Cuban and Robert Herjavec saw it more as a pastime and bowed out.
Barbara Corcoran was a customer, not an investor, and Lori Greiner thought it was a toy rather than a product aimed at adults.
Kevin O’Leary, however, believed that the product had potential in retail and offered $60,000 for a 50% stake. Robert re-entered the deal with an offer of $60,000 for a 25% stake, which Mark accepted.
After the show, Mark faced some challenges and decided to hire a social media specialist to oversee digital marketing and branding. With 98% of transactions occurring online, Mark recognized the need to expand his online presence.
Thanks to these efforts and Robert’s advice, sales increased almost 3.5 times and the Gold Rush Nugget Bucket was distributed in 28 countries across six continents. As of August 2021, the company is still in operation and has an annual revenue of $1.2 million.
What is the Net Worth of Gold Rush Nugget Bucket?
Mark appeared on Shark Tank in search of $60,000 for a 15% stake in the firm. This equates to a $400,000 valuation.
He accepted an offer from Robert of $60,000 for 25% stake which brings valuation to be $240,000.
The current valuation is evidently higher since the Company has grown.
Who are the Competitors of Gold Rush Nugget Bucket?
There is no competitor identified for Gold Rush Nugget Bucket.
Gold Rush Nugget Bucket FAQS
What is Gold Rush Nugget Bucket?
The Gold Rush Nugget Bucket is a revolutionary gold panning equipment that makes discovering gold simple and enjoyable for everyone.
Who is the founder of Gold Rush Nugget Bucket?
Mark Peterson is the founder of Gold Rush Nugget Bucket.
How much does Gold Rush Nugget Bucket cost?
The Gold Rush Nugget Bucket costs $104.99 plus shipping on Amazon.
Does Gold Rush Nugget Bucket really work?
Yes, it really works! It has a patented design.
How much was he seeking in the Shark Tank?
Mark was seeking $60,000 for a 15% stake in his business.
Did Mark secure a deal from the Shark Tank?
Robert Herjavec invested $60,000 for a 25% stake in Gold Rush Nugget Bucket.
Where is Gold Rush Nugget Bucket located?
Gold Rush Nugget Bucket is based in Eugene, Oregon.
When was Gold Rush Nugget Bucket featured on Shark Tank?
Gold Rush Nugget Bucket was featured on Shark Tank Season 6 Episode 19 which aired on February 13th, 2015.
Where can they buy Gold Rush Nugget Bucket?
They can buy it online on Amazon and their website at www.goldrushnuggetbucket.com.
When was Gold Rush Nugget Bucket founded?
Gold Rush Nugget Bucket was founded in 2011.
What are the products made by Gold Rush Nugget Bucket?
The Gold Rush Nugget Bucket is a revolutionary gold panning equipment that makes discovering gold simple and enjoyable for everyone.
Where can they get more information about Gold Rush Nugget Bucket?
They can get more information on their website at www.goldrushnuggetbucket.com and Amazon.com.
What is net worth of Mark Peterson?
Mark Peterson’s net worth is unavailable.
How long does it take to get the kit?
Other shipping timeframes in the continental United States range from overnight to seven days.
Standard USPS and UPS delivery times range from 5 to 7 days to anyplace in the continental United States.
Canada takes 7 to 10 days, while Alaska might take up to 12 days. All other nations require between 10 and 12 days.
All of these are Standard Shipping times.
Where can they use the Gold Rush Nugget Bucket?
They can use it on most public grounds, including the beach, rivers, and lakes, as long as there are no claims placed in public places.
They do recommend all prospectors to contact the local government office that oversees the exact tract of property they wish to exploit and obtain explicit authorization for their desired date, place, and activity.
