GRIND Basketball Shooting Machine Net Worth
Grind Basketball is a company that makes the world’s first portable basketball shooting machine. After appearing on Shark Tank, Grind took part in the Techstars Sports Accelerator program and raised $1.6 million.
As of December 2021, they had logged over a million dollars in pre-orders for their product. The company’s net worth is currently estimated to be $1 million, and investors such as Mark Cuban and Barbara Corcoran have contributed $250,000 for 25% of the company.
What is GRIND Basketball Shooting Machine and Who Founded GRIND Basketball Shooting Machine?
The GRIND Basketball Shooting Machine is the world’s first portable shooting machine that automatically returns and catches missed shots. It can be easily packed up and transported, collapsing to the size of a large duffel bag in under 90 seconds.
This pneumatic shooting machine can be installed under any basketball goal, and it rotates 190 degrees and distributes balls to five different spots on the court, allowing players to train like professionals.
The founder and CEO of GRIND is Thomas Fields, who grew up with aspirations of becoming an NBA player to improve his family’s financial situation.
Despite failing to secure a basketball scholarship, Fields continued to pursue his passion for the sport, often waking up at 5 a.m. to use his school’s $6,000 shooting machine before classes began.
Unable to afford such equipment himself, Fields began sketching a design for a portable shooting machine that could satisfy his love of the game. This led to the creation of GRIND, which he founded with $15,000. Since its launch on March 1, 2020, the company has sold $215,000 worth of units in just five months.
GRIND Basketball Shooting Machine Shark Tank Pitch
Within five months of being on the market, the GRIND Basketball Shooting Machine had already sold $215,000 worth of shooting machines through pre-sales, with production and distribution underway. The Grind Machine is priced at $1,795.00, with payment options available.
During the Shark Tank Pitch, Thomas Fields requested $250K for a 5% stake in his business, which would indicate a $5 million valuation. Although the Sharks appreciated his passion and dedication, Lori Greiner, Kevin O’Leary, and Alex Rodriguez ultimately decided not to invest as they felt it didn’t fit their portfolios.
However, Barbara Corcoran was interested and wanted to partner with Fields, but she lacked knowledge about sports and sought assistance from fellow Shark Mark Cuban. Together, they offered $250K for a 30% ownership in the company.
Fields were happy to have Mark as his Shark but were not willing to give up that much equity, so he requested that they reconsider their offer. Mark and Barbara revised their offer to $250K for a 25% stake, which equates to a $1 million valuation. Fields initially hesitated but ultimately accepted their offer, and the deal was closed.
After the episode aired, the first batch of pre-orders was fulfilled, with the second batch scheduled to arrive in the Summer of 2021 and the third in the Fall of 2021.
The GRIND Machine has received positive reviews, with some customers calling it their best investment yet and a game changer. GRIND also offers additional merchandise, such as shirts, sweatshirts, and shorts, through its online store.
GRIND Basketball Shooting Machine Net Worth.
Fields approached the tank wanting $250K in exchange for a 5% share in his business. This indicates a $5 million valuation.
He accepted an offer from Mark and Barbara of $250K for a 25% interest, this equates to a $1 million valuation.
GRIND Basketball Shooting Machine Competitors
Unknown.
Summary Table: Grind Basketball Shooting Machine Shark Tank
| INFORMATION | DETAILS |
| Company name | Grind Basketball Shooting Machine |
| Product | World’s first portable basketball shooting machine |
| Founder and CEO | Thomas Fields |
| Shark Tank pitch | $250K for a 5% stake |
| Shark Tank deal | $250K for a 25% stake |
| Valuation | $1 million |
| Pre-orders (December 2021) | Over $1 million |
| Investment from Mark Cuban and Barbara | $250K for 25% of the company |
| Total units sold (5 months) | $215,000 |
| Competitors | Unknown |
| Reviews | Positive |
Additionally, the Grind Basketball Shooting Machine is a portable basketball shooting machine that can be folded into a duffel bag, weighing 110 pounds and including a 12-foot net that traps the ball and automatically returns it to the player, allowing for up to 1,000 shots an hour. The machine has five spots around the key, allowing players to improve their shooting from all over the floor. It is safe for players aged 8 and above, and uses a button sensor to capture made and missed shots. The company also sells additional merchandise, such as shirts, sweatshirts, and shorts, through its online store.
GRIND Basketball Shooting Machine Shark Tank Updates
The GRIND basketball shooting machine is a portable, collapsible, and affordable rebounding machine that aims to make it easier for those who want to practice getting their shots up on their own.
The machine was created by Thomas Fields, a former NBA hopeful who suffered injuries that forced him to rethink his career options. Fields entered the Shark Tank seeking $250,000 for 5% equity and landed a deal with Mark Cuban and Barbara Corcoran for $250,000 for 25% equity.
Since airing on Shark Tank, the GRIND machine has received positive reviews, with some referring to it as the best investment they have ever made and a game-changer. GRIND also now sells other merchandise through its shop such as shirts, hoodies, and shorts.
However, the deal with Mark and Barbara never closed due to serious supply chain issues.
The GRIND basketball shooting machine is the world’s first portable basketball shooting machine that folds into a duffel bag. It is safe for players ages 8+ and captures made and missed shots, allowing players to focus on reps rather than rebounds.
The machine has a 12 ft tall net for optimal shooting arc and extends to the NBA 3-point line with rotation. It is cost-competitive, with payment plans available, and can be set up, taken down, and stored within minutes.
GRIND Basketball Shooting Machine FAQS
What Is Grind Basketball Shooting Machine Shark Tank?
GRIND Basketball Shooting Machine is a portable basketball shooting machine that can be folded into a duffel bag, making it easy to transport and store. It weighs 110 pounds and includes a 12-foot net that traps the ball and automatically returns it to the player, allowing for up to 1,000 shots an hour.
The machine has five spots around the key, allowing players to improve their shooting from all over the floor. It is safe for players aged 8 and above, and uses a button sensor to capture made and missed shots.
GRIND Basketball Shooting Machine appeared on Shark Tank Season 12, where its founder, Thomas Fields, sought a $250,000 investment for 5% equity in his company.
Fields was an elite high school basketball player who was a Division 1 prospect as a freshman, but suffered several injuries that ended his basketball career. He created the GRIND machine to make it easier for players to practice getting their shots up on their own.
In the Shark Tank episode, Fields demonstrated the product, and Mark Cuban and Barbara Corcoran invested $250,000 for a 25% stake in the company.
GRIND Basketball Shooting Machine is designed for consumers and is the lowest-cost machine on the market. It is an affordable rebounding machine that aims to solve the problems of athletes. The machine is easy to install and can be placed anywhere, allowing players to focus on reps rather than rebounds.
The company’s mission is to develop interactive sports products that help athletes improve their skills.
How Does Grind Basketball Shooting Machine Shark Tank?
GRIND Basketball is a company that produces a portable basketball shooting machine that can fit inside a duffel bag. The machine weighs 100 pounds and includes a 12-foot net that traps the ball and automatically returns it to the player.
The machine allows for up to 1,000 shots an hour. The poles of the machine slide down and lock in minutes, making it easy to set up and take down. The machine captures made and missed shots, allowing players to focus on reps rather than rebounds.
There are five spots around the key to improve shooting from all over the floor. The machine has a 12-foot tall net for optimal shooting arc and easy transport. It weighs 110 pounds and has a cushioned handle for easy storage.
GRIND Basketball appeared on Shark Tank in May 2021. The founder, Thomas Fields, pitched his company to the sharks and asked for $250,000 for 5% equity. Mark Cuban and Barbara Corcoran made a deal with Fields, offering $250,000 for 25% equity.
The machine is safe for players ages 8 and up and uses a button sensor, not motion, to collapse. The machine is designed to provide elite basketball training at home or wherever players put in work.
What Happened To Grind Basketball Shooting Machine After Shark Tank?
Thomas Fields, the founder of GRIND basketball shooting machine, appeared on Shark Tank in 2020 and secured a deal with Barbara Corcoran and Mark Cuban.
However, the deal with the Sharks never closed. Despite this setback, GRIND shipped the first batch of pre-orders and delivered the second batch in early 2021. GRIND made $1 million in revenue in 2021.
After Shark Tank, GRIND participated in the Techstars Sports Accelerator program, which helped the company raise $1.6 million. The company is currently stable and worth an estimated $2 million. Thomas Fields and his team have not released any sales figures for 2022.
What Is The Current Valuation Of Grind Basketball Shooting Machine Shark Tank?
GRIND Basketball Shooting Machine appeared on Shark Tank Season 12 Episode 23 to raise funding. The founder, Thomas Fields, asked the Sharks for $250,000 for 5% equity at a $5 million valuation.
Mark Cuban and Barbara Corcoran offered $250,000 for 25% of the company, which equates to a $1 million valuation. The deal with Mark and Barbara did not close in September 2022.
As of 2023, GRIND Basketball Shooting Machine is worth $2 million. The company made $1 million in revenue for 2021. After appearing on Shark Tank, GRIND took part in the Techstars Sports Accelerator program and raised $1.6 million.
The company is focused on fulfilling new orders at GrindBasketball.com and improving its product. The Grind Machine is priced at $1,795.00, with payment options available.
In summary, the current valuation of GRIND Basketball Shooting Machine is not clear.
The company was valued at $5 million during its Shark Tank pitch, but Mark Cuban and Barbara Corcoran offered $250,000 for 25% of the company, which equates to a $1 million valuation. As of 2023, GRIND Basketball Shooting Machine is worth $2 million.
Is Grind Basketball Shooting Machine Shark Tank Still In Business?
The deal between Grind Basketball Shooting Machine and Mark Cuban and Barbara Corcoran from Shark Tank never closed. However, Grind Basketball is still in business and has been successful. As of December 2021, Thomas Fields, the founder of Grind, was named to Forbes 30 Under 30 list for 2022.
In 2021, Grind had over $1 million in pre-orders and had delivered 80% of those pre-orders. In addition, Grind participated in the Techstars Sports Accelerator program, which helped the company raise $1.6 million.
Grind Basketball Shooting Machine is a portable basketball training machine that provides an affordable alternative to expensive basketball shooting machines. It is designed for basketball players to practice alone and has received positive reviews.
Grind Basketball has also expanded its product line to include shirts, shorts, and hoodies.
In summary, Grind Basketball Shooting Machine is still in business and has been successful despite not closing a deal with Mark Cuban and Barbara Corcoran from Shark Tank. The company has had over $1 million in pre-orders, participated in the Techstars Sports Accelerator program, and expanded its product line.
Did GRIND basketball get a deal on Shark Tank?
This former high school basketball standout built a portable shooting machine that garnered a significant investment from Mark and Barbara on Shark Tank.
Who is the owner of GRIND basketball?
Thomas Fields, 26, founded the sports equipment firm GRIND.
What is the value of grind basketball?
Thomas Fields accepted a $250,000 offer from Mark and Barbara for a 25% ownership in their firm, which is valued at $1 million.
Which episode was GRIND basketball featured?
The episode GRIND Basketball was aired on May 07, 2021.
How much money did the owners of grind basketball make from shark tank?
Thomas Fields accepted a $250,000 offer from Mark and Barbara for a 25% ownership in their firm.
How do they make money?
They make money by selling The Grind shooting machine, t-shirts, and shorts.
Why did they need to do this show?
The company was in its infancy and needed capital to expand their reach.
What has happened since the show?
Since the airing of the episode, the company is in the process of fulfilling orders for pre-sales.
Where can they buy GRIND Basketball Shooting Machine?
It is a portable shooting machine that can be purchased through their online page.
How much does grind basketball make?
The firm makes $215,000 in pre-sales in less than five months on the market.
What is the weaknesses of GRIND Basketball Shooting Machine?
The product does not have any patent.
Where are they Located?
GRIND Machine is located at California, United States.
What is their website address?
GRIND Machine website address is www.GrindMachine.com
Is the GRIND machine self-rotating?
No, the GRIND machine is manually rotated and travels through five locations on the court (top of the key, free throw line extended, both corners).
On the base, a little lever is utilized to alter the location of the spots.
How is the GRIND shooting machine powered?
The GRIND Machine is currently powered by a regular electrical outlet in the United States and does not include a battery. A third party will need to acquire an extension cable.
What is the weight of the GRIND machine?
The GRIND Machine weighs around 110 lbs. It collapses into a duffel bag on two wheels for convenient transport and storage.
When moving the GRIND Machine in their car, loading and unloading may require the assistance of two individuals.
Is the GRIND machine weather-sensitive?
Yes, the GRIND machine has electrical components that should be protected from rain, sleet, and snow.
What is the price of the GRIND machine?
The GRIND Machine is priced at $1795 including tax and delivery.
Is it possible to cancel their order?
Yes, GRIND will reimburse their purchase if they need to cancel their order before to shipment. It may take up to ten business days for a refund to be applied to their account.
Why is the GRIND Machine taking so long to ship?
GRIND is a new company, and they require pre-orders before they can begin manufacturing. Once they obtain a sufficient number of pre-orders, they may begin producing the devices.
Can they return my GRIND machine once it has been received?
Yes, GRIND offers a 30-day return policy that begins the moment their machine is delivered. If they are dissatisfied with their purchase, they may return it for a full refund.
After 30 days, they will be liable for shipping costs and a $200 restocking charge will be withheld from their refund.
Please take up to 5-10 business days for them to check the equipment and process their refund.
Can they get my GRIND machine sooner than the expected delivery time?
All pre-orders for Batch 2 will be fulfilled in the summer of 2021.
All pre-orders for Batch 3 will be fulfilled in the fall of 2021.
Batch 4 is scheduled to ship in the spring of 2022.
Due to the fact that GRIND has invented a novel product, production and logistics must be established and finished.
What is the maximum number of balls that the GRIND machine can hold?
At the moment, the GRIND machine is only capable of processing one ball at a time. They have a “No Standing Rule,” which states that they must move while waiting for the next pass.
