Slyde Handboards Shark Tank Update | What Happened to Slyde Handboards after the Shark Tank Pitch
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What is Slyde Handboards?
Slyde Handboards is a bodysurfing company that manufactures Handboards. Slyde Handboards are exquisitely constructed to provide better buoyancy, quicker speeds, less spray back, improved control and balance, and longer rides than any other bodyboarding equipment.
They make bodysurfing accessible to people of all ages and abilities.
Although their usage will become natural after some practice, the gentlemen at Slyde warn that your first time out, you will almost certainly be barrelled.
Slyde Handboards are constructed of high-density foam reinforced with triaxial fiberglass, hardened resin side rails, and an exterior layer of PPX flak jacket.
Additionally, they include convenient mounts for your GoPro camera. They come in two basic shapes: Wedge and Bula.
Larger boards, in general, provide more lift, stability, and carving ability. Smaller boards require waves that are higher and quicker.
The Wedge is an excellent board for both beginners and expert riders.
It handles well and features additional capacity to boost buoyancy, providing longer rides and greater lift. It boasts little drag, great speed, and plenty of turn and roll control.
The Bula’s compact size and concave form make it ideal for steep, quick waves, bottom turning, and pumping to gain speed.
Who Is Slyde Handboards’ Founder?
Slyde Handboards is a firm dedicated to bodysurfing and water sports. Steve Watts and Russell Ellers co-founded it in 2010, and they were subsequently joined by Angela Watts.
For many years, the proprietors have studied and refined hand boarding equipment.
Steve Watts, the designer and creator, grew up bodysurfing on the South African coast. As a child, he and his buddies found full-size surfboards heavy and bulky; they were just too tough to operate.
As a result, they began experimenting with catching waves using non-traditional materials, ranging from bits of wood to flip flops.
They discovered that fast food trays gave the finest ride, since they were able to readily capture and maintain control of a wave.
This was the initial concept for what would become the most technologically sophisticated bodysurfing hardboards ever created.
What happen to Slyde Handboards at the Shark Tank?
Steve and Angela appear on Shark Tank season 7 episode 24 seeking a $200,000 investment in exchange for a 15% stake in their business. This indicates a valuation of $1,333,333.33.
With imminent debt and their entire funds invested in the business, they’re banking on the Sharks to help them stay afloat. They demonstrate the Slyde boards in action and provide product samples.
Angela noted that the carbon fibre model costs $199 and the normal model is $169, and the pair has sold $366,000 worth of merchandise since the company’s debut in 2011.
They made $159,000 in sales last year. They anticipate earning $295,000 at the conclusion of the current fiscal year.
They made a $10,000 investment in the firm.
Robert Herjavec already owns a firm called Hand Boards, which sells mostly through smaller surf shops.
He notes that profit development has been moderate with that model and inquires about the couple’s marketing strategy.
Angela argues that they must educate consumers in order to increase sales via large box shops.
Lori Greiner is unsure that she is the ideal partner for her business. She has escaped.
Although Kevin O’Leary believes the business is too tiny to invest in, he offers to marry the couple “right here in the Shark Tank.” Despite his offer, he declines.
Mark Cuban is interested in determining who the consumer is. Angela cites surf enthusiasts aged 13-16 and 20-30. Mark believes the market is maybe too tiny. Tower Paddleboards, his firm, is seeking for additional items.
Ashton Kutcher is intrigued, and while he does have a sizable internet distribution network, he is unfamiliar with this type of product. “I’m an Iowa farm boy,” he quips.
He is, however, eager to make an offer if Mark Cuban joins in. Mark instantly agrees, and the couple makes an offer of $200,000 in exchange for a 25% stake.
Angela and Steve are hesitant to give up more than 20%, but Mark tells out that if they reject the agreement, 5% will make little difference.
Kevin inquires as to whether Robert has a contract. Robert pauses.
Kevin becomes irritated and rushes in with an offer of $200,000 for 15% of the business in exchange for which he would marry them.
Not to be outdone, Robert offers $200,000 for 15% stake.
Angela counters, asking Mark and Ashton if they are willing to do $200,000 for 20%. “Make it 22% and you’ve got a deal,” Mark offers.
Before accepting, the duo confers briefly. They exit the stage with a dual Shark deal in hand.
Ashton Kutcher is so ecstatic with his new investment that he dances on the little table while singing, “I enjoy winning.” I enjoy winning.” Slyde looks to have attracted an eager investor who will assist them in riding the waves to success.
Slyde Handboards after the Shark Tank Pitch
Since Shark Tank, Ashton has been actively involved in social media advertising and branding.
Mark had the keen commercial knowledge that the couple need.
Between the duo and the entrepreneurs, the company’s yearly revenue has surpassed $1 million.
The boards are currently available at over 40 stores across the United States. There is a distributor in the United Kingdom, as well as one in Spain.
Angela acknowledged in an interview with Forbes that it was tough to say no to Robert and Kevin’s offers, but that Ashton and Mark are the “Slyde dream team” investors.
This is one surfing operation that involves riding the wave to the bank.
In season ten, episode 1003, Slyde receives an update section. They inform Mark and Ashton on the development of new items during the update.
They launched The Slyde Grom, a soft board, through a Kickstarter campaign in 2017.
They became available at Dick’s Sporting Goods in 2018.
As of December 2021, the firm is still operating and is anticipated to generate between $2 and $2.5 million in annual revenue.
Slyde Handboards Net Worth
Steve and Angela appear on Shark Tank season 7 episode 24 seeking a $200,000 investment in exchange for a 15% stake in their business. This indicates a valuation of $1,333,333.33.
They accepted an offer from Mark and Ashton of $200,000 for 22% stake thus valuing the business at $909,090.90.
Slyde Handboards Competitors
Decathlon, Foundry Outdoors, G.I. SPORTZ, and XXL ASA are among Slyde Handboards’ biggest rivals.
Slyde Handboards FAQS
What is Slyde Handboards?
Slyde Handboards is a business specializing in manufacturing, marketing, and distributing soft-surface Handboards.
Who is the founder of Slyde Handboards?
Steve Watts and Russell Ellers founded the company, and they were subsequently joined by Angela Watts.
How much were they seeking in the Shark Tank?
The couple sought a $200,000 investment for 15 stake in their business.
Did they get the deal?
They accepted a $200,000 offer from Mark and Ashton in exchange for 22% stake then valued their company at $909,090.90.
Is Slyde Handboards still in business?
The company is still operating as of December 2021, with an expected annual revenue of $2-$2.5 million.
Is there a market competitor?
Decathlon, Foundry Outdoors, G.I. SPORTZ, and XXL ASA are among Slyde Handboards’ biggest rivals.
When was Slyde Handboards founded?
The company was founded in 2011.
When was Slyde Handboards aired on Shark Tank?
It was aired on April 15th, 2016.
What episode of Shark Tank was Slyde Handboards featured?
It was featured on Season 7 Episode 24.
Where is the headquarters of Slyde Handboards?
The headquarters of Slyde Handboards are located at Ocean Front Walk Ste Venice, California, United States.
What is Slyde Handboards website?
The website for Slyde Handboards is www.slydehandboards.com.
What’s the deal With Free Shipping?
Free shipping is applied to any item or combination of products purchased at checkout that totals 49 USD and is shipped to a location inside the United States.
How Long Will their Slyde Board Last?
Their boards are quite durable. If they look after them, a very long period. They are constructed with the highest quality materials and are built to last. Take care of them and they will endure for years.
Who Bodysurfs?
Everybody should learn to bodysurf! The wonderful thing about bodysurfing, hand boarding, and handplaning is that it is an excellent method to introduce themselves to and learn about surfing and the water.
They can develop the ability to evaluate the ocean, the waves, and all the other abilities necessary to surf properly while body surfing.
What is the Net worth of Steven Watts?
Steven Watts’s net worth is unavailable.
What is the Net worth of Angela Ferendo Watts?
Angela Ferendo Watts’s net worth is unavailable.
