Tandem Boogie Shark Tank Update | Tandem Boogie after Shark Tank
What is Tandem Boogie?
The Tandem Boogie is a board designed for two people to ride together, making it perfect for surf schools, families, and sea enthusiasts.
It is an innovative product that allows for an enjoyable wave riding experience for both experienced and inexperienced riders.
The idea for Tandem Boogie was created by John and Manya Clark, who have spent their lives surfing and paddle-boarding with their daughters.
They wanted to make a board that allows anyone, regardless of experience level, to enjoy water sports with a partner by their side. This idea turned into their business.
Who is the Founder of Tandem Boogie?
John and Manya Clark founded Tandem Boogie to help others have fun and create memories while surfing the ocean waves.
The device is designed to be enjoyed by people of all skill levels, allowing them to participate in water activities with a companion.
The couple, who have spent most of their lives surfing and paddle-boarding with their three kids, decided to take their experience to the next level by creating a buddy board, which eventually became the basis for their company.
Manya handles production and operations, while their daughters, Juliette and Alleanna, hold positions as CEO and community manager at the University of California, Berkeley, respectively.
The youngest, Lyla, who plans to study business and law in college, is in charge of clothes and goods.
The company launched with a successful Kickstarter campaign in July 2020, generating $31,230 during the Covid-19 pandemic.
They have received a lot of attention and positive reviews in local press.
What Happened to Tandem Boogie at Shark Tank Pitch?
After launching a successful Kickstarter campaign in 2020 and raising $31,230, the company took their ideas to Shark Tank to seek investors.
They pitched for $100,000 in exchange for 10% equity in the company, valuing the company at $1 million.
They explained that they had been in business for two months, had revenues of $43,000 to $31,000 from Kickstarter, and that the costs of producing their product were $150 and it was sold for $459.
They wanted the investment to increase their internet presence and expand into physical outlets. Mark Cuban and Lori Greiner did not invest, but Robert Herjavec and Daniel Lubetzky made an offer of $100,000 for 25% equity in the company.
Robert Herjavec later revised his offer to $100,000 for 35% equity and the company counter offered with 30% equity. The deal was closed with Robert Herjavec, Daniel Lubetzky, and the company agreeing on the 30% equity offer.
What Happened to Tandem Boogie after Shark Tank?
Tandem Boogie is preparing to launch their own website and establish a physical storefront. Additionally, they are exploring licensing agreements with surf shops globally.
The company aims to expand their product line to include surfboards and flippers and are working to increase their online visibility and secure partnerships with retailers.
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 offered a deal where he would give up 10% of the company’s ownership in exchange for $100,000. This implies that the company is valued at 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.