Tower Paddle Boards Shark Tank Update | What Happened to Tower Paddle Boards after Shark Tank?
What is Tower Paddle Boards?
Tower Paddle Boards is a firm that sells direct-to-consumer paddleboards, such as their 6′′ inflatable board, which is both groundbreaking in the sport and much loved by aficionados owing to its quality and low price.
The firm sells a variety of inflatable and traditional paddleboards, as well as a variety of auxiliary goods that may be used in conjunction with them.
Stephan Aarstol is the creator of Tower Paddle Boards. Stephan is a long-time internet marketing entrepreneur who established this business after seeing a trend in Internet searches.
Stephen has previously had success with search engine optimization and saw a link between searches for paddleboards and a lack of excellent locations to buy them online.
Who is the founder of Tower Paddle Boards?
Stephan Aarstol is the founder of Tower Paddle Boards in 2010. Stephen is a long-time internet marketing entrepreneur who founded this business after seeing a trend in Internet searches.
Starting game-changing new enterprises has always been a passion of his, and he holds an MBA in New Venture Management from the University of San Diego.
He created Tower Paddle Boards from the ground up and has evolved it into one of America’s fastest growing sports products firms. He made a good living selling premium poker chips online in the early 2000s.
He leveraged his understanding of search engine optimization to attract a large amount of traffic to his poker chip site and make sales.
Stephan saw a developing trend in stand up paddle board searches and replicated the online sales approach; therefore, Tower Paddle Boards was established.
Aarstol utilizes organic search traffic to bring users to his website, and the sport’s rising popularity is boosting his sales.
Tower Paddle Boards sell for 50% cheaper than identical stand up paddle boards since he sells directly to consumers and bypasses the retail chain.
What Happened to Tower Paddle Boards at Shark Tank pitch?
Stephan chose to pitch his firm to Sharks in episode 9 of Season 3 of Tower Paddle Boards on Shark Tank to aid him with marketing and distribution of products.
Stephan came to Shark Tank looking for $150,000 in exchange for a 10% stake in his company, which worth $1.5 million.
Aarstol stuttered in explaining his business, blaming it on a malfunctioning slide show clicker and a natural dislike to delivering planned presentations.
He stunned the Sharks with his stats after regaining his composure; he did over $100,000 in sales in only a few months.
The Sharks are interested by his client acquisition strategies; Aarstol discusses search engine marketing to the Sharks’ satisfaction. Mr. Wonderful is particularly fond of Aarstol search engine strategy’s “zero cost.”
Barbara gets irritated by all of the technical stuff and exits. Robert like stand up paddle boarding (he admits it), but he believes the company is overpriced; he’s out. Daymond followed, leaving Mark and Mr. Wonderful as the final Sharks to enter.
Kevin is offering $150,000 in exchange for 50% ownership of the company and a 10% royalty on the items he develops.
Stephan refuses that offer, and Mark offer $150,000 for 30% equity in the company and first refusal on Stephan’s next project.
Kevin counters with the identical offer of $150,000 for 25% equity, but Aarstol believes Mark would be a better partner; they shake hands with Mark and leave the pitch with a deal.
What Happened to Tower Paddle Boards after Shark Tank?
The deal with Mark Cuban was finalized after the program aired and Stephen departed the pitch with a deal, and Mark Cuban claims that Tower Paddle Boards is one of the finest investments he’s made in the Shark Tank.
“Tower is like the Dell of stand-up paddle boarding,” says Mark Cuban. In just a few months, Aarstol refunded one-third of the $150,000, and Mark should soon get his whole investment returned.
Tower Paddle Boards was featured in season four episode 403 for an update section. Tower Paddle Boards sales are expanding and the company is thriving. The company is mentioned in an update part in Beyond the Tank episode 111 for further information.
Tower Sunglasses were debuted in the summer of 2016. It is the company’s first new product. The ultimate goal is to expand the Tower brand into a full-fledged “beach lifestyle brand.” Sunglasses are only the beginning.
They intend to add an extended clothes line, beach chairs, snorkels, and any other beach-related things all at Tower’s lowered costs.
The goal of founder Stephan Aarstol is to make Tower a one-stop shop for beach goods and to reach $100 million in revenue.
They expanded the range to include skateboards, clothes, beach tents, swimwear, and other items in July 2021. As of January 2022 the company has annual revenue of $7 million.
Competitors of Tower Paddle Boards
The primary competitors of Tower Paddle Boards are; C4 Waterman, ISLE Surf & SUP, SOL Paddle Boards, SUP ATX, Surf School, Tower and YOLO BOARD among others.
Net Worth of Tower Paddle Boards
The company valuation was $1.5 million during the pitch, after the investment done by Mark Cuban the company valued $500,000.
Since then the company have been performing well in sales with annual revenue of $7 million as of January 2022. This shows that the company net worth had elevated.
Tower Paddle Boards FAQs
What is Tower Paddle Boards?
Tower Paddle Boards is a company that provides direct-to-consumer paddleboards, such as their 6′′ inflatable board, which is both innovative in the sport and well-liked by enthusiasts due to its high quality and affordable pricing.
Who is the inventor?
Tower Paddle Boards were invented by Stephan Aarstol who is the founder and current CEO of the company.
What are Tower’s headquarters?
Tower’s headquarters are located in Newport Beach, California.
How much was asking on Shark Tank?
Stephen was asking for $150,000 in exchange for 10% equity of his Tower Paddle Boards.
Did he have the deal?
Yes, he did have the deal, with Mark Cuban.
How much was the deal?
Mark offered $150,000 for 25% equity of Tower Paddle Boards.
Is Tower Paddle Boards still in business?
Yes, Tower Paddle Boards is still in business and has grown since the deal.
How much revenue does Tower get?
Tower’s revenue is $7 million as of January 2022.
How much was Stephan worth before the pitch?
Stephen was worth $1.5 million before the pitch with Tower Paddle Boards.
Who is the CEO of Tower Paddle Boards?
Stephan Aarstol is the CEO and founder of Tower.
How much do they sell their boards for?
Their boards sell for $400 on their website.
What is Tower Paddle Boards website?
Tower Paddle Boards website is http://www.towerpaddleboards.com/
Where does Tower Paddle Boards sell?
Tower Paddle Boards only sells through their website, so customers must order online.
Is Tower Paddle Boards shipping?
Yes, Tower Paddle Boards sells their boards through their website, so customers must order online.
Where does Tower Paddle Boards ship from?
Tower Paddle Boards ships from their headquarters in Newport Beach, California.
What is the shipping cost of Tower Paddle Boards?
The shipping for an individual 6′′ board is $50.
What are the contact details of Tower Paddle Boards?
The contact details of Tower Paddle Boards are a physical address, phone number, fax number and email.
Which social networks does Tower Paddle Boards use?
The primary social network that Tower Paddle Boards uses is Facebook.
Can I return my board if I don’t like it?
There is a 30-day money back guarantee. There is also free shipping and free returns in the US.
What payment method accepts by Tower Paddle Boards?
Tower Paddle Boards accept credit card payments.
Are Tower Paddle Boards any good?
The most popular model in Tower’s inflatable SUP collection is the Tower Adventurer 9’10” Paddle Board.
This is a great all-around iSUP that is stable and a lot of fun to paddle. The board has a respectable thickness of 6′′ and high stiffness, and the whole construction is quite robust.
What material are Tower Paddle Boards made of?
All of our Tower inflatable stand up Paddle Boards are constructed with two layers of PVC on the outside, making them highly durable and easy to clean.
Each iSUP is constructed using inner drop-stitching technology, which allows the board to remain flat when inflated.
What is the net worth of Stephan Aarstol?
Stephan Aarstol has an estimated net worth of $5 million.