Spikeball Shark Tank Net Worth 2023
When Spikeball appeared on Shark Tank in 2015, the company had an annual revenue of $1 million.
During the show, Chris Ruder asked for a $500,000 investment in exchange for a 10% stake in the company, implying a valuation of $5 million.
However, he did not need the money and was after the exposure that Shark Tank could provide.
The Shark Tank appearance boosted sales and attention substantially.
The game built a viral following and by 2013, the company had annual revenue of $1 million. As of 2022, Spikeball has sold well over a million sets and earned $6 million in annual income.
The game is also extremely portable; you only need the ball, the net, and the stands to play it anywhere.
What is Spikeball? Who Founded Spikeball?
Spikeball is an innovative beach game that combines elements of volleyball with a few unique features, resulting in an impressive game.
The game involves two teams of two players competing against each other, with players required to move with the ball as there are no sides like in traditional volleyball. A trampoline is used instead of a net, adding to the game’s excitement.
Spikeball was originally created by Jeff Knurek, but it was not patented. Chris Ruder, a trained photographer, worked for various organizations as a salesperson before founding Spikeball. He became the company’s CEO after leaving his job at Microsoft.
Chris and his friends were inspired to start Spikeball after a trip to Hawaii, where they drew attention from strangers who were curious about the game.
Realizing the potential of the game as a business opportunity, they registered the company after the trademark had lapsed, and raised $100,000 to start the venture.
Spikeball Shark Tank Pitch
Chris is likely searching for a Shark investor to assist him in promoting and distributing his game as a sport through sponsorship and mass market exposure.
He and his team are hoping to secure a $500,000 investment for a 10% stake in their company by appearing on Shark Tank.
During their appearance, Chris and his team play an exciting game to promote their product, which involves a trademark on an old toy that they have reactivated and begun producing and selling.
They have already sold 29,000 units in a year and expect to make $3.2 million in sales for the current year.
Each unit has a landing cost of $14 and sells for $59, but Chris believes he can reduce the cost to $10 per unit with the help of Shark funds. He has already received an order from Dick’s Sporting Goods for 10,000 units.
Although Kevin expresses concerns about the price, he decides to make an offer of a $500,000 loan with a 9% interest rate in exchange for a 10% stake in the company.
Lori and Nick decline to invest, but Mark is initially skeptical before becoming interested. Despite this, he ultimately decides not to invest due to the price.
Daymond offers to pay $500,000 for the license rights in exchange for a 25% equity stake, and Chris counters with 15%.
They negotiate until reaching an agreement for Daymond to take a 20% stake in the company for $500,000, bringing the valuation to $2.5 million. However, the deal ultimately falls through.
Since appearing on Shark Tank, the game, called Spikeball, has become very popular, with competitions being held across the country.
The company has received a patent for the game and has taken legal action against knock-off products that violate their intellectual property.
Customers can purchase the game on the company website, e-commerce platforms, and in retail locations throughout the United States and worldwide.
Based in Chicago, Illinois, the company has grown to over 40 full-time employees since its founding in 2008. It sponsors an average of 150 events each year worldwide, with over four million players participating.
The company also offers an app for tournament organizers and provides a free certification course for Physical Education teachers on how to coach the game for learners and experienced players.
Chris Ruder remains the CEO, and as of August 2021, the company has sold over one million units and has a yearly income of $6 million.
Spikeball Net Worth
As of 2021 net worth is estimated at around $5 million.
Spikeball has a number of competitors, this includes;
Hyperloop; markets a similar product that includes an attached slide for moving the ball about.
RampShot; is a game that may be played by up to four persons.
The rules and equipment for RampShot are different, but the premise is the same: it’s a fun and entertaining outdoor game that requires hand-eye coordination, motor skills, and collaboration.
Kan Jam; applies the same ideas to frisbee and bucket-themed games, but this time with two participants. It is also present in schools.
Who owns Spikeball?
Chris Ruder is the, the founder and CEO of Spikeball Inc.
Did Shark Tank invest in Spikeball?
Spikeball, a Chicago-based beach game that involves elements of volleyball and foursquare, was on Shark Tank and secure a $500,000 investment for 20% stake from Daymond John.
How popular is Spikeball?
One of the most basic sports, and a sport that is fast gaining popularity across the world.
Spikeball boasts almost four million participants and more than 150 competitions each year, despite the fact that it is essentially just a ball and a net.
Students at our school spend countless hours playing with their classmates and attempting to improve their skills.
What’s the deal with Spikeball being so expensive?
“Pro quality” refers to some pricey Spikeball sets.
This implies they’re built of more durable materials, resulting in a more stable playing field. Spikeball branded sets from the Spikeball firm are usually more expensive.
Are Spikeball players compensated?
Individual players are not paid, although sponsorships are available.
Is it possible to play Spikeball with two players?
Spikeball is a team sport in which two teams of two players compete against one other.
The Spikeball net is in the middle, and opposing teams line up across from each other.
A serve is a hit by the server from behind the service boundary into the net to an opposing player that puts the ball in play.
Will Spikeball be a part of the Olympic Games?
Savage Ultimate is the game’s official gear partner, while Landshark Lager is the game’s beer sponsor.
And top-ranked players joke about roundnet being a contender for Olympic inclusion – yes, there are national Spikeball rankings, and yes, the Olympics.
Is Spikeball a competitive sport?
Rampshot, Franklin Sports, and Kanjam are Spikeball’s main rivals.
Where is Spikeball headquarters?
Spikeball HQ is located in Chicago.
What are the names of the three Spikeball touches?
A point is started when a player serves the ball down onto the Spikeball net, causing it to bounce back at his opponents.
The returning team can return the ball to the net with up to three hits (imagine bump, set, and spike).
On Spikeball, how can they become a premier?
Teams qualify for Premier by placing in the top three of the Advanced level of a sanctioned event.
In Spikeball, can the ball strike the net twice?
The receiving team has a maximum of three hits between them to bounce the ball off the net after the serve. The two players must take turns hitting each other.
Which episode of the Shark Tank was Spikeball aired?
Spikeball was aired on season 6 episode 29 of the Shark Tank.
Where can they buy Spikeball?
Spikeball can be purchased at various retailers, including Bed Bath & Beyond, Dick’s Sporting Goods, Target, Walmart and Ace Hardware.
The product is also on Amazon.