Spikeball Shark Tank Update | Spikeball after the Shark Tank Pitch
What is Spikeball?
Spikeball is a beach game that incorporates volleyball elements as well as a few other creative additions to make it a marvel.
Two teams of two players compete in this game (2 versus 2). Because there are no sides in volleyball, you must move with the ball.
In addition, there is a trampoline instead of a net.
Spikeball was founded by Chris Ruder.
Chris, a trained photographer, worked for a number of organizations as a salesperson.
While Spikeball was still in its infancy, he worked for Microsoft. After Spikeball stabilized, he left Microsoft and became the company’s CEO, a position he still retains.
Spikeball was not, interestingly, Chris Ruder’s original concept. It was Jeff Knurek’s creation, and he either forgot or didn’t bother to get a patent for it.
Chris and his friends registered the firm after the trademark lapsed.
After a tour in Hawaii, Chris and his pals were inspired to start Spikeball.
Strangers stared and asked where they might acquire Spikeball and related questions about how to play the game.
The crew immediately recognized that resurrecting the game could be a fantastic business opportunity, and they were correct.
To start the company, the group raised $100,000.
Who Founded Spikeball?
Spikeball was founded by Chris Ruder in Chicago, Illinois.
What happen to Spikeball at the Shark Tank Pitch
Chris is most likely seeking for a Shark to assist him in developing the game as a sport through sponsorship and mass market exposure and distribution.
Chris and his team go to Shark Tank with the hopes of getting $500,000 for a 10% stake in their firm.
On stage, a lively game is played to promote the goods. They explain how the trademark on an old toy has expired. They reactivated it and began producing and selling them. They hold competitions to promote it.
They’ve sold 29,000 units in a year so far. This year, they expect sales of $3.2 million (2014).
Each unit has a landing cost of $14 and sells for $59.
He believes he can bring the price down to $10. He needs the Shark funds to make more units since Dick’s Sporting Goods has placed a 10,000-unit order with him.
Kevin has reservations about the price, but decides to wait and see what the other Sharks do.
Lori is the first Shark to leave, claiming that she is unable to accept the valuation.
Nick claims he’s just not interested, so he’s out.
Mark initially felt the concept was ridiculous, but as the pitch progressed, he started to like it. Despite this, he goes out, citing the price.
Kevin steps in and provides a $500,000 loan with a 9% interest rate in exchange for a 10% stake in the company.
Daymond is willing to pay $500,000 for the license rights in exchange for a 25% equity stake. Chris responds with 15%, and Daymond responds with 22%.
Daymond agrees when Chris answers with 20%.This brings the valuation of the company to be $2.5million.
Spikeball after the Shark Tank Pitch
The deal with Daymond never eventuated.
Spikeball has been a huge hit since its debut in the Tank, with competitions held all around the country. They received a patent for their game in August of 2020.
At least two knock-offs are anticipated to get letters from Chris’s attorney alleging intellectual property violation.
Customers may buy the product via the company’s website, e-commerce platforms like Amazon, retail locations in the United States, and distributors all over the world.
The firm, which is based in Chicago, Illinois, has expanded to over 40 full-time workers since 2008.
It also sponsors 150 events each year on average across the world, with over four million players participating.
Along with having an app that tournament organizers can use to plan these events, the company is also heavily involved in schools (at all levels), with Physical Education teachers able to sign up for a free certification course on how to couch a game between learners and condition players with exercise routines.
Chris Ruder, the company’s founder, is still the CEO.
They’ve sold well over 1 million units and have a $6 million yearly income as of August 2021.
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.