Tandem Boogie Shark Tank Update | Tandem Boogie after Shark Tank
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What is Tandem Boogie?
The Tandem Boogie is a body board designed for two people to jump and surf on at the same time.
The product provides a unique way for surf schools, families, and sea enthusiasts to enjoy riding waves without difficulty.
The board is innovative and creates waves for both experienced and inexperienced riders.
Tandem Boogie was created by inventors John and Manya Clark to help others have fun and make memories with their friends and family while riding the water waves.
The product is designed so that anyone, regardless of experience level, can enjoy water sports with a partner by their side.
The couple has spent the majority of their lives surfing and paddle-boarding with their three daughters.
They decided to take the experience to another level by making a buddy board out of it, which finally became their business.
Who is the Founder of Tandem Boogie?
Tandem Boogie was established by inventors John and Manya Clark to assist others have fun and build memories with their friends and family while surfing the ocean waves.
The device is created so that everyone, regardless of skill level, may enjoy water activities with a companion by their side.
The couple has spent the most of their lives surfing and paddle-boarding with their three kids.
They decided to take the experience to the next level by making a buddy board out of it, which eventually became their company.
Manya is in charge of production and operations. Their girls, despite the fact that they are still in school, play an important part in the firm.
Juliette and Alleanna is CEO and community manager of the University of California, Berkeley, respectively.
However, the youngest, Lyla, who plans to study business and law in college, is in charge of clothes and goods.
They launched the company with a successful Kickstarter campaign that generated $31,230 in the thick of the Covid-19 epidemic in July of 2020.
They have received a lot of attention and exposure in their local press, and they have received excellent reviews.
What Happened to Tandem Boogie at Shark Tank Pitch?
After the successful Kickstarter campaign was launched in 2020 and generates $31,230, they also take their ideas to the Shark Tank Pitch to look for the investors.
They proceed to the pitch seeking for $100,000 for 10% equity of the company. This means that the company valuation was $1 million during the pitch.
They deliver their elevator pitch and describe their narrative. That they had been in business for two months and at the time they recorded, the revenues of $43,000 to $31,000 from the abovementioned Kickstarter.
They added that the costs of producing product is $150 and sells for $459. They want the money to increase their internet presence and into physical outlets.
During the pitch Mark Cuban and Lori Greiner pull out of the deal while Robert Herjavec making his offer of $100,000 for 25% stake of the company, immediately joined by Daniel Lubetzky.
Without wasting much time Robert Herjavec revised his offer to $100,000 for 35% equity shares of the business because they had matched together with Daniel Lubetzky.
Clark Family counter offer $100,000 for 30% stake of their company. But after a while they agree and the Clark family, Robert Herjavec and Daniel Lubetzky close the deal.
What Happened to Tandem Boogie after Shark Tank?
After the pitch, the transactions are completed by Robert, Daniel, and the Clark family.
Since then, the company’s product portfolio has grown to include a surfboard and flippers. They have been collaborating to boost their internet presence and get certain retail partners.
Tandem Boogie is on the brink of opening their own website and moving toward a brick and mortar presence. Additionally, they will be pursuing licensing opportunities with surf shops worldwide.
The company plans to expand their product portfolio to include a surfboard and flippers. They have been collaborating to boost their online presence and get certain retail partners.
Tandem Boogie is on the brink of opening their website and moving toward a brick-and-mortar presence.
Competitors of Tandem Boogie
The company competes with several other businesses. Some of their competitors are;Kalani Kahalioumi and Tava Kahalioumi (FBI),Jay Reale & Vicki Reale (eBodyboarding.com), Cole Smith and James Ferrel (Big Wedge Groms), Kylie Anderson and Dani Bryner (Branderson), Kaliko Kahoonei and Clayton Fisher (Wahoo International).
Net Worth of Tandem Boogie
During the pitch Clark was seeking for $100,000 for 10% equity of the company. This means that the company valuation was estimated to be over $1 million.
Tandem Boogie FAQs
What is Tandem Boogie?
Tandem Boogie is a body board that can be used by two people. It is designed for surf schools, families, and sea enthusiasts to have fun while surfing at the same time.
The product provides a unique way for surf schools, families, and sea enthusiasts to enjoy riding waves without difficulty.
Who is the Founder?
Tandem Boogie was established by inventors John and Manya Clark to assist others have fun and build memories with their friends and family while surfing the ocean waves.
The device is created so that everyone, regardless of skill level, may enjoy water activities with a companion by their side.
What is their offer on Shark Tank?
Tandem Boogie was seeking an investment of $100,000 for 10% equity of the company.
Did they get the deal?
Yes, on 2016, they close a deal with Shark Tank Investors Robert Herjavec and Daniel Lubetzky.
What is the deal?
The two investors purchase $100,000 for 35% equity shares of Tandem Boogie.
What is their worth?
The company valuation was estimated to be over $1 million.
Are the Clark family still the owner of Tandem Boogie?
Yes, they are working together with Robert Herjavec and Daniel Lubetzky to expand their business opportunities.
Is still in business?
Yes, they are still in business. The company began to expand its product portfolio with surfboards and flippers in the early 2020.
What is the First Business Venture?
John and Manya Clark were regular buyers of online merchandise when they discovered something charming.
What are their main competitors?
Tandem Boogie competes with Kalani Kahalioumi and Tava Kahalioumi (FBI), Jay Reale & Vicki Reale (eBodyboarding).
How did Tandem Boogie get its name?
Tandem Boogie was designed for two people or friends to ride together at the same time.
How do I buy their product?
Tandem Boogie is available at Amazon.com.
Is it still available?
The product is still available for sale on Amazon.com. The price range starts at $149.
How many employees does Tandem Boogie have?
There are more 23 employees currently.
How much revenue did they generate in first two months?
Tandem Boogie raised $43,000 during their first two months online sales after they launch their Kickstarter campaign in July of 2020.
What are their revenue sources?
Tandem Boogie generates revenue by selling its product directly to consumers online and through retail partners.
Is safe to buy online?
Yes, it is safe to buy it online.
