HydroMax Shark Tank Net Worth 2023
The net worth of Hydromax in 2023 is estimated to be around $2 million. The company was valued at $200,000 when it appeared on Shark Tank in 2012, and has since seen a significant increase in revenue due to the success of its patented product.
In 2012, Chris Spencer, the founder of Hydromax, appeared on Shark Tank seeking an investment of $50,000 in exchange for a 25% stake in Hydromax. Jeff Foxworthy offered $50,000 for a 50% stake in Hydromax and Chris Spencer accepted the deal.
Since then, Jeff Foxworthy’s financing and skills have helped Chris bring his Hydromax product to market, making it a must-have for high school and college football teams.
This has resulted in increased sales and profits for the company, leading to its current estimated net worth of $2 million.
What is HydroMax? Who is the founder of HydroMax?
HydroMax is a patented water system that can be easily transported and attached to any football pads, as well as used during other sports activities such as volleyball, soccer, and hockey. The device can carry up to 16 ounces of water and is designed to mount on the shoulder pad.
Chris introduced HydroMax in 2007 in Houston, Texas, but soon prioritized raising his family over pursuing his ambition to bring HydroMax to market. As a result, he entered the corporate business sector.
However, in 2011, Chris’s passion for his product was reignited, and he became determined to find a distributor for HydroMax despite working full-time in the corporate business sector.
Chris is particularly enthusiastic about HydroMax because he knows that dehydration can be a serious issue for athletes, with some even dying on the football field due to dehydration.
Before he stepped back from the company to focus on his family, he had already achieved significant success, earning $100,000 in one year.
HydroMax Shark Tank Pitch
After inventing HydroMax, Chris decided to pitch his product to the investors on the show Shark Tank to seek financial assistance, a business partner, and most importantly, to grow his business.
During his pitch, Chris offered the Sharks a 25% stake in his firm in return for $50,000. He explained that his product was designed to help prevent dehydration-related deaths in minor league football players.
The HydroMax system, which costs $8 to make, is designed to attach to any pair of football pads and retails for $49.95. Chris had sold $100,000 worth of HydroMax systems during the year he was selling his product, but he had returned to his corporate job after starting a family.
The Sharks were interested in the product and wanted to know more about the cost and sale price. Barbara Corcoran asked how Chris planned to devote time to the product, and he explained that he wanted a Shark to help him establish a production and distribution network so he could focus on sales.
However, Kevin O’Leary preferred to work with entrepreneurs who sought out their own licensing arrangements, as he claimed that licensing the product was difficult.
Daymond John felt that the company’s valuation was exaggerated and withdrew from the deal, while Barbara Corcoran believed she lacked the necessary relationships for this type of business and also dropped out. Only two Sharks, Robert Herjavec and Jeff Foxworthy, remained.
Robert Herjavec believed that Chris was the only person capable of making the business work, and he urged him to make more sales calls.
Jeff Foxworthy was curious about Chris’ growth intentions and made an offer of $50,000 for 50% ownership of the company at a valuation of $100,000. Chris accepted the offer, and the deal was closed.
After the celebration, the deal with Jeff Foxworthy fell through, but the HydroMax system continued to be used by professional players on teams like the Dallas Cowboys and the San Diego Chargers, as well as Pop Warner, high school, and college teams.
Chris Spencer is now the CEO of his firm, and the system has taken off. Chris obtained venture capital investment in 2011 to support continuous operations and the expansion of 13 staff and day-to-day operations with a nationwide presence.
As of November 2021, Chris is a Senior Business Account Executive with T-Mobile, and HydroMax sales are estimated to be $2 million per year.
Competitors of HydroMax
The company competes with the following companies; UniTek Global Services, Wachs Water Services, ORI, Holland Board of Public Works, H&MV Engineering, Botcode, Roof Management and Gewalt Hamilton Associates.
Net Worth of HydroMax
During the pitch the company valuation was $200,000 and they had makes several sales of around $2 million. The company valuation has also increase in 2021.
HydroMax Shark Tank Updates
Chris Spencer appeared on Shark Tank in Season 2 Episode 7, seeking $50,000 for 25% of his hydration system, HydroMax.
The HydroMax system is designed to fit under a football player’s pads and delivers liquid through a drinking tube to the player while on the field.
The system is designed to attach to any set of football pads, giving it a versatile place in the market. During the year Spencer was selling his product, he sold $100,000 worth of HydroMax systems.
In the Shark Tank episode, guest Shark Jeff Foxworthy offered $50,000 for a 50% stake in HydroMax. Chris Spencer happily agreed to the Foxworthy deal, however the deal was never closed.
Despite this setback, HydroMax is still in business as of 2022, with annual revenue of $2 million. Jeff Foxworthy’s financing and skills helped Chris bring his HydroMax product to market, making it a must-have for high school and college football teams.
HydroMax Shark Tank Summary:
| INFORMATION | DETAILS |
| Company Name | HydroMax |
| Founder | Chris Spencer |
| Product | A patented water system that attaches to any football pads and other sports equipment, delivering liquid through a drinking tube to the athlete while on the field |
| Shark Tank Pitch | Appeared in Season 2 Episode 7, offered $50,000 for 25% stake by Chris Spencer |
| Shark Tank Deal | Jeff Foxworthy offered $50,000 for a 50% stake, the deal was never closed |
| Competitors | UniTek Global Services, Wachs Water Services, ORI, Holland Board of Public Works, H&MV Engineering, Botcode, Roof Management and Gewalt Hamilton Associates |
| Net Worth 2012 | Valued at $200,000 |
| Net Worth 2023 | Estimated to be around $2 million |
| Revenue | $100,000 in the year of selling the product, currently estimated to be $2 million per year |
| Updates | Chris Spencer is now the CEO of the firm and the company has taken off since the Shark Tank appearance, despite the deal falling through. HydroMax is still in business as of 2022. |
Note: The table includes the important information about HydroMax, the Shark Tank pitch, the deal, competitors, net worth, and updates on the company’s progress.
HydroMax FAQs
What Is HydroMax And How Does It Work?
HydroMax is a penis pump made by Bathmate that uses water instead of a conventional vacuum to create a vacuum inside its plastic tube.
The vacuum forces the penis to enlarge to fill the inside of the tube, which forces blood into the penis, stretching and inflating it.
The HydroMax is designed to be used in water, such as in the shower or bathtub, and is made for an instant size boost that can last for 12 hours or more. The HydroMax pump is approved by clinical experts to be used by males to grow a bigger penis size or recover from the conditions of weak erections.
To use the HydroMax, one should fill it with warm water and place their semi-erect penis inside. The super-soft comfort pad creates a tight, comfortable seal, and once inside, one should pump out the water until they feel a good amount of pressure and their penis starts to expand and become larger.
It is important to follow the instructions carefully to get maximum results from the HydroMax.
One should not use the HydroMax for more than 15 minutes in any period of 24 hours, and they should consult their doctor before using it if they have any of the following: severe erectile dysfunction, diabetes, multiple sclerosis, cirrhosis of the liver, chronic renal failure, alcoholism, increased heart or respiration rates, heart or lung disease, high blood pressure, stroke, epilepsy, urinary.
Who invented the HydroMax?
Chris Spencer invented the HydroMax in 2007.
What Was The Outcome Of The HydroMax Shark Tank Pitch?
Chris Spencer, the founder of HydroMax, appeared on Shark Tank in Season 2 Episode 7 seeking an investment of $50,000 in exchange for a 25% stake in HydroMax.
Jeff Foxworthy, a guest shark, offered $50,000 for a 50% stake in HydroMax, and Chris Spencer agreed to the deal. However, the deal with Jeff Foxworthy never closed.
Despite this, HydroMax is still in business as of 2022, with annual revenue of $2 million. The system is now used by professional players on teams like the Dallas Cowboys and San Diego.
What Happened To HydroMax After Its Appearance At The Shark Tank?
HydroMax is a patented water-filtering hydration system that was featured on Shark Tank in 2012. During the pitch, Chris Spencer, the founder of HydroMax, appeared seeking an investment of $50,000 in exchange for a 25% stake in the company.
Jeff Foxworthy, a guest shark, offered $50,000 for a 50% stake in HydroMax, and Chris Spencer agreed to the deal. However, the Foxworthy deal never concluded, and Chris Spencer formed a partnership with Lori Greiner, who offered $150,000 in exchange for 10% of HydroMax.
Despite the failed deal with Jeff Foxworthy, HydroMax has been highly successful since its appearance on Shark Tank, with annual revenue of $2 million as of 2022.
The system is now used by professional players on teams like the Dallas Cowboys and San Diego. Chris Spencer left his corporate job and became the CEO of HydroMax after the show.
What is his offer on Shark Tank?
Chris was seeking for $50,000 for 25% equity stake in his company which was estimated to be worth $200,000.
Did he get the offer?
Yes, he got the offer from Jeff Foxworthy.
What is the offer?
Foxworthy offered $50,000 for 50% ownership in the company at a valuation of $100,000. Chris agreed to the offer.
Did they close the deal?
No, they did not close the deal.
How much did he earn from his company?
The sales of the company are $2 million per year.
How much does the HydroMax cost?
The HydroMax costs around $8. The system retails for $49.95, and the company has sold over a 100,000 units since it began its operations.
How does it work?
The HydroMax attaches to any pair of football pads or protective sports gear, providing a portable supply of water that is easily accessible during competition.
How do I find them?
One can find them on HydroMax.com or MyHydromax.com
Is safe to buy online?
Yes, HydroMax is safe buy online.
Where can you find reviews?
One can find reviews on Amazon.com, YouTube, Pinterest and MyHydromax.com.
How much does it weigh?
It weighs around 4 ounces.
Is it legal?
Yes, the HydroMax is legal because it uses FDA approved material for the bladder and the tubing system.
How is business model?
The HydroMax is sold on the site MyHydromax.com.
What is their target market?
The target market of HydroMax is athletes and teams that participate in various sports.
How many employees does the company have?
HydroMax has 13 employees as of November 2018.
Why do you need investors to start the business?
Chris wanted to expand his business by taking advantage of his experience, knowledge and contacts to establish a large scale production plant for this product.
What is the net worth of Chris Spencer?
The net worth of Chris is estimated at $100 million.
