Human Bobber Net Worth 2023 | Human Bobber Shark Tank Update
What is Human Bobber?
Human Bobber is a firm that makes multi-purpose personal flotation devices. It’s both safe and enjoyable to use. The innovative device has been certified by the United States Coast Guard as well as water enthusiasts.
It’s a hands-free alternative to clinging to a floppy pool noodle or attempting to balance on a raft.
And, while you have your hands free, you may as well have an icy beverage, which can float beside you in its own Beverage Bobber.
The vests may be worn as a pair of pants or as a chair-like float, allowing you to become a true Human Bobber.
Who is the Founder of Human Bobber?
Human Bobber is a company based in Fort Lauderdale, Florida, founded in 2011 by Justin Rietema and Doug Schultz.
They started the company because they were tired of having to bring bulky life vests on boats and wanted to find a solution that would allow them to bring more friends on their trips.
They noticed that traditional life vests were often not worn and, while they are required to be on board, they do not need to be worn all the time.
Using this as inspiration, they came up with the idea for “The Human Bobber”, which is a compact life vest that can be worn as a belt and costs $65, which is similar to a high-quality traditional life vest.
They also sell a beverage bobber, which is a life vest designed to keep your drink afloat, for an additional $18. The products are available at various retailers and on Amazon.
Human Bobber At Shark Tank Pitch?
On Shark Tank Season 9 Episode 5, Justin and Doug, the founders of Human Bobber, pitched their company to the Sharks seeking $120,000 in exchange for a 15% stake in the company, valuing it at $800,000.
They demonstrated the versatility of their product by wearing it and then flipping it into a seat. Kevin O’Leary was the first shark to ask a question after receiving samples of the product, he was aware that such products are often reasonably priced.
He asked about the cost of production and retail price of the products. Doug revealed that the Scuttlebutt vest cost $22.80 to make and retailed for $65, while the Bottoms Up vest cost $27.80 to create and retailed for $90, including all additional expenditures.
Lori Greiner asked about sales thus far, Doug disclosed that total sales in the prior three years had been $63,000, but they claim this is because they were awaiting coast guard accreditation, which they received that year
. Kevin was the first Shark to make an offer of $120,000 for 33.3 percent of the company, the entrepreneurs seemed to be considering the offer.
Mark believed there may be a synergy with Tower Paddle Boards but felt it would take a lot of work. Lori Greiner felt it was an all-or-nothing investment opportunity, but the company was too small for her and she decided to pull out.
Robert Herjavec felt that it would be challenging to market a feature of an established product and suggested that the founders of Human Bobber, Doug and Justin, consider a licensing arrangement as their best option, but he was not interested in investing in the company and decided to opt out of the deal.
Daymond also felt that the company was too small for him to use his distribution network and also decided not to invest.
Mark expressed interest in taking a 10% stake in Kevin’s 33% stake, but refused to pay a portion of the $120,000, he proposed to partner with Tower Paddle Boards and showcase the items on his Amazon exclusives website.
Kevin stated that “everyone pays” and informed Justin and Doug that they must contribute an additional 10% if Mark was to be included, surprisingly, despite giving up 43% of their business, they agreed to the deal.
Human Bobber After the Shark Tank Pitch
After the Shark Tank pitch, the deal with Mark and Kevin did not come to fruition. Human Bobber products were available in West Marine and Camping World stores for a time, but are no longer available as of June 2021.
However, the products can still be found on Amazon. The company now focuses on manufacturing drink bobbers. They announced that they were available at West Marine and Camping World stores after the Shark Tank episode aired.
They have three patented versions of Human Bobber: Bottoms Up ($90) which is a life jacket and floating saddle in one, Scuttlebutt Kayak ($80) which is a kayak seat, floating saddle, and aquatic chair, and Scuttlebutt ($65) which is a floating saddle, aquatic chair, and cushion.
Justin and Doug continue to run Human Bobbers as a side project, Doug works for a landscape architectural business and Justin works for an engineering firm. Even though it’s not their main business, it still generates annual sales of around $950,000.
Human Bobber Shark Tank Net Worth
Justin and Doug appeared on Shark Tank Season 9 Episode 5 seeking $120,000 for a 15% stake in their company, valuing the company at $800,000. They ultimately accepted an offer from Mark and Kevin for a 43% stake in the company, making the company Net Worth $277,136.
However, it should be noted that the current valuation of the company is likely higher now, as the company has likely grown since then. According to our preliminary, research, Human Bobber’s net worth was estimated to be just over $1.5 million in 2020.
Who are the Competitors of Human Bobber?
There are no competitors identified for Human Bobber.
Human Bobber FAQS
What is Human Bobber?
Human Bobber is a firm that makes multi-purpose personal flotation device. It’s both safe and enjoyable to use.
The innovative device has been certified by the United States Coast Guard as well as water enthusiasts.
Who are the founders of Human Bobber?
Doug Schultz and Justin Rietema are the founders of Human Bobber.
How much were they seeking in the Shark Tank?
They were seeking $120,000 for a 15% stake which was equates to $800,000 valuation.
Did they get the deal?
They received a deal from Mark and Kevin in return for $277,136 for a 43% stake in the firm.
Did the closed their deal?
They never closed their deal with Mark and Kevin.
Is Human Bobber still in business?
For a period, the men had products in West Marine and Camping World, however they are no longer available as of June 2021.
They are, nevertheless, available on Amazon. The firm currently now manufactures drink bobbers.
Human Bobbers remains a side project for Justin and Doug. Doug works for a landscape architectural business, whereas Justin works for an engineering firm. With a yearly revenue of around $950,000.
When was Human Bobber featured on Shark Tank?
Human Bobber was featured on Shark Tank Season 9 Episode 5 on October 22nd, 2017.
What is their return policy?
If they are dissatisfied with their purchase for any reason, please email them at contact@h3osports.com with a description of their problem with the goods, and one of their sales consultants will answer to their query with advice on returning the merchandise and receiving a refund.
What is their shipping and delivery policy?
Within the United States, shipping costs are as follows:
Standard Express: Normally, in-stock products will arrive 7-10 business days after the purchase is placed. Orders are sent using either FedEx or USPS.
Guaranteed Express: They will expedite their in-stock order and deliver it within 3-5 business days after receiving it.
Orders received by 9:00 p.m. Eastern Time (Monday through Friday) will be sent the next business day.
What is their policy on shipping outside of the United States?
All tariffs, taxes, and Customs fees are the responsibility of the receiver. For an estimate of these costs, please contact their local Customs office.
Where is Justin Rietema and Doug Schultz from?
Doug Schultz is from Coconut Creek and Justin Rietema is from Oakland Park.
What is the Company’s website?
Human Bobber website is located at www.h3osports.com.
How can they contact Human Bobber?
Please email them at contact@h3osports.com.
What is the net worth of Justin Rietema?
Justin Rietema’s net worth is unavailable.
What is the net worth of Doug Schultz?
Doug Schultz’s net worth is unavailable.