Jump Forward Shark Tank Update| Jump Forward after Shark Tank
What is Jump Forward?
Jump forward is an online and mobile technology company that provides a platform for student-athletes to create profiles that highlight their educational aspirations, athletic successes, hobbies, and talents.
Brian Duggan and Adam McCombs created and launched the online-sports firm. The two met because of their strong Minnesota roots; Duggan, a Burnsville High School graduate, and McCombs, an Apple Valley native, today run the business, which is used by over 150 university athletic departments.
The organization collaborates with colleges and sports programs by supplying items that players, trainers, and coaches use to find the best of the best.
Who is the founder of Jump Forward?
Brian Duggan and Adam McCombs started and founded the online-sports firm. The two met because of their strong Minnesota roots; Duggan, a Burnsville High School graduate, and McCombs, an Apple Valley native, today run the business, which is used by over 150 university athletic departments.
Adam McCombs was an ardent soccer player as a youngster, but after going through the technical and tough process of high school/college recruitment, he realized how inefficient and unpleasant the process was.
This inspired him to develop a more efficient system, which became Jump Forward. McCombs has a strong technical background, having earned two CCIEs while working at Cisco for over eight years.
This, combined with his athletic experience, provided him with the idea for Jump Forward, but he needed someone who knew the financial side of business: Brian Duggan.
Duggan has a financial background and worked as an investment banker and auditor prior to joining Jump Forward.
The firm has shown to be one of the greatest for sports players in the United States, with a 99 percent yearly membership renewal rate.
What Happened to Jump Forward at Shark Tank pitch?
In episode 10 of Season 1, Brian Duggan and Adam McCombs present the Sharks with a unique collaboration opportunity through their website, Jump Forward.
Duggan and McCombs apply to Shark Tank for a $150,000 investment in return for a 10% stake in their firm, which is valued at $1.5 million.
McCombs cites a number of well-known sports winners and claims that they were all missed throughout the collegiate recruitment process.
Duggan goes on to say that the Jump Forward website allows coaches to study athlete profiles and contact them directly. He gives an example profile with a well-known face: Robert Herjavec.
Kevin O’Leary is curious in how he may profit from the site. According to Duggan, the universities pay a membership fee to the site in order for the student profiles to be hosted.
Sales have been quite good, with $150,000 sold in three months. Duggan anticipates revenues of $15-20 million, but stresses that with Shark backing, the firm might achieve $35 million.
Duggan adds value by mentioning that the firm holds a patent on the mobile app, which has proprietary software that assures instructors obey the onerous compliance standards.
Technology businesses, according to Barbara Corcoran, are simply too hazardous. She’s gone. Kevin Harrington, on the other hand, refused to make a contract on the same reasons.
Daymond John informs the couple that they are “too intelligent” for him. Three sharks have stepped down, leaving Kevin O’Leary and Robert Herjavec as Duggan and McCombs sole hope for a Shark Deal.
Kevin O’Leary is impressed with the partners’ backgrounds and jobs. He gives them $200,000 in exchange for 20% ownership of the firm.
According to Duggan, they will “consider it.” Robert Herjavec takes a stand. He’ll provide $300,000 in exchange for 35% stake of the business.
Kevin O’Leary invites the guys to step away from the platform for a moment while he talks to Herjavec.
He wants to put an end to a bidding war before it begins. He suggests that they provide the couple $400,000 in exchange for 50% ownership of the firm. “I like that,” Herjavec agrees. They summon the duo again and make the proposition.
The couple declines the offer; instead want $200,000 for 16% equity. They wish to retain some stock in order to provide equity to future employees.
Robert Herjavec offers $500,000 in exchange for 50% ownership of the company. The males are still hesitant. Robert Herjavec raises his offer to $600,000 for 50% equity shares.
McCombs counter-offers: they’ll give up $300,000 for a 25% share or $750,000 for a 50% stake. Robert Herjavec and Kevin O’Leary are unwavering. The offer of $600,000 for 50% equity shares remains unchanged.
Kevin O’Leary and Robert Herjavec work hard to advertise their knowledge and marketing experience. Finally, the duo accepts the offer quietly. They walk away with a whopping $450,000 more than they asked for.
What Happened to Jump Forward after Shark Tank?
This deal was never finalized after the protracted negotiation during the pitch and the two men fled the pitch with a deal.
Jump Forward has done extremely well since their appearance on Shark Tank. They’ve since created an app to complement their web-based business.
The firm presently serves over 150 collegiate sports departments and has a subscription renewal rate of 99 percent.
Active Network purchased the company in May 2016 for an unknown sum.
Brian is the creator and CEO of Livly as of July 2021, while Adam is the Chief Product Officer of Vantaca, LLC. Jump Forward’s estimated annual revenue is 4.8 million dollars, 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.