Jump Forward Shark Tank Net Worth 2023
The company was valued at around $1.2 million by Kevin O’Leary and Robert Herjavec when it appeared on Shark Tank in 2012.
Since then, the company has grown significantly. It now serves more than 150 college athletic departments and boasts a 99% annual subscription renewal rate.
As of 2021, Jump Forward has over 20k coaches, 350+ institutions, 255k+ student-athletes, and 16 million recruiting profiles.
The major source of income for Jump Forward is the subscription fee that they charge to universities for their annual plan and advertisement.
There is no information available on Jump Forward’s net worth in 2023. However, given its growth trajectory over the past few years, it is possible that its net worth will continue to increase.
What is Jump Forward? Who is the founder of Jump Forward?
Jump Forward is a technology company that operates online and on mobile platforms. It offers a platform for student-athletes to create profiles showcasing their educational goals, athletic achievements, interests, and talents.
The company was founded by Brian Duggan and Adam McCombs, who both hail from Minnesota. Duggan graduated from Burnsville High School, while McCombs is a native of Apple Valley. Together, they manage the business, which is used by more than 150 university athletic departments.
Jump Forward collaborates with colleges and sports programs, providing tools that players, trainers, and coaches use to identify and recruit top-performing athletes.
McCombs’ experience as a former soccer player inspired him to create a more efficient system for high school and college recruitment, which eventually led to the development of Jump Forward.
With a technical background and two CCIEs earned while working at Cisco for over eight years, McCombs had the idea but needed someone with financial expertise, which he found in Duggan.
Before joining Jump Forward, Duggan worked as an investment banker and auditor, bringing valuable financial knowledge to the company.
Jump Forward has emerged as a leading company for student-athletes in the United States, with an impressive 99 percent yearly membership renewal rate.
Jump Forward Shark Tank Pitch
In Season 1, Episode 10 of Shark Tank, Brian Duggan and Adam McCombs pitched their company, Jump Forward, to the Sharks.
They offered the Sharks a unique collaboration opportunity through their website, which allows coaches to study athlete profiles and contact them directly.
They were seeking a $150,000 investment in exchange for a 10% stake in their company, which was valued at $1.5 million.
The universities pay a membership fee to the site in order to host the student profiles, and sales had been quite good, with $150,000 sold in three months. Duggan anticipated revenues of $15-20 million, but with Shark backing, the firm might achieve $35 million.
Barbara Corcoran felt that technology businesses were too risky and declined to make an offer, as did Kevin Harrington.
Daymond John thought the couple was “too intelligent” for him. Three Sharks stepped down, leaving Kevin O’Leary and Robert Herjavec as the couple’s only hope for a deal.
O’Leary offered $200,000 in exchange for 20% ownership of the company, which Herjavec later raised to $600,000 for 50% equity.
The couple declined and instead asked for $200,000 for a 16% equity stake, as they wished to retain some stock to provide equity to future employees.
Herjavec offered $500,000 for 50% ownership, which the couple still hesitated to accept. Herjavec then raised his offer to $600,000 for 50% equity shares.
McCombs counter-offered with $300,000 for a 25% share or $750,000 for a 50% stake, but Herjavec and O’Leary remained firm with their $600,000 offer for 50% equity shares.
Finally, the couple accepted the offer and walked away with $450,000 more than they asked for. However, the deal was never finalized after a prolonged negotiation during the pitch, and the two men left the pitch with a deal.
Jump Forward has since created an app to complement their web-based business and presently serves over 150 collegiate sports departments with a subscription renewal rate of 99%.
The company was purchased by Active Network in May 2016 for an unknown sum.
As of July 2021, Brian is the creator and CEO of Livly, while Adam is the Chief Product Officer of Vantaca, LLC. Jump Forward’s estimated annual revenue is $4.8 million, which is expected to rise in 2021.
Competitors of Jump Forward
Jump Forward’s well-known competitors include Front Rush, Arms Software, Fieldlevel, Six0run, Brain-Train, Scout-force, Corgi bytes, Tudor Collegiate Strategies, Contact-coaches, and “Captain-U.”
Net Worth of Jump Forward
The company was valued at $1.5 million during the pitch. In 2021 the company has a net worth of $1.2 million.
Jump Forward FAQs
What is Jump Forward?
The firm provides a platform that allows students to create profiles and be seen by coaches. The site also allows students to communicate with each other.
Who is the founder?
The founders are Adam McCombs and Brian Duggan.
How much were asking on Shark Tank?
They asked for $150,000 for 10% stake of their company.
Did they have the deal?
Yes, they got deal from Kevin O’ Leary and Robert Herjavec.
How much did the Sharks offer?
Kevin O’Leary and Robert Herjavec offered $600,000 for 50% equity of the company, but they never finalized the deal.
Is Jump Forward still in business?
Yes, Jump Forward is still in business.
What is the Jump Forward worth today?
In July 2021 the company is valued at $1.2 million.
How does Jump Forward make money?
The firm makes money from university membership fees. They also generate revenue from the sale of advertising on their web platform.
Where can I find Jump Forward?
Jump Forward’s headquarters are in Chicago State, Illinois, 60607, United States of America.
How Does Jump Forward Work?
This is a chance for overlooked high school athletes to showcase their abilities through the recruitment process. They can post sport-related videos, profile images, associated papers, and talent-related materials.
Is Jump Forward a scam?
All the reviews on the web suggest that this service is legit and it is effective.
How long has Jump Forward been in business?
The firm has been in business since 2016.
Is Jump Forward based in Singapore? Why?
No, the firm headquarters are in Chicago, Illinois, United States of America. They do not have any other branches outside Chicago.
What are the products of Jump Forward?
The firm offers a membership platform for high school and collegiate athletes to showcase their skills for recruiters.
They also provide coaches with coaching advice. They also provide videos and feedback on an athlete’s performance to coaches.
How can I find out more about Jump Forward?
Customers can visit the company’s official website at: jumpforward.com or customers can find them on Facebook, Twitter, Google+, Instagram, and LinkedIn.
What is the net worth of Adam McCombs?
Adam McCombs net worth is estimated at $950,000.
What is the net worth of Brian Duggan?
Brian Duggan Net Worth is estimated at $ 850,000.
