What Happened to Jump Forward After Shark Tank?
What is Jump Forward?
Jump Forward is a mobile and web technology firm that allows student-athletes to establish profiles that promote their educational goals, athletic achievements, interests, and abilities.
The online-sports company was founded and established by Brian Duggan and Adam McCombs. The two met because they both had strong Minnesota connections; Duggan, a Burnsville High School alumnus, and McCombs, an Apple Valley native, now oversee the company, which is used by over 150 university athletic departments.
The firm works with colleges and sports programs by giving goods used by athletes, trainers, and coaches to identify the best of the best.
Who are the Jump Forward founders?
Brian Duggan and Adam McCombs founded the online-sports company. The two met because they both had strong Minnesota connections; Duggan, a Burnsville High School alumnus, and McCombs, an Apple Valley native, now oversee the company, which is used by over 150 university athletic departments.
Adam McCombs was an avid soccer player as a child, but after going through the technical and difficult process of high school/college recruitment, he discovered how inefficient and unpleasant it was.
This prompted him to create a more efficient method, which evolved into Jump Forward. McCombs has an extensive technical experience, having obtained two CCIEs while working for Cisco for more than eight years.
This, together with his athletic expertise, gave him the concept for Jump Forward, but he needed someone who understood the financial side of things: Brian Duggan.
Duggan comes from a financial background and has worked as an investment banker and auditor before joining Jump Forward.
With a 99 percent yearly membership renewal rate, the company has proven to be one of the best for sports athletes in the United States.
What happened to the Jump Forward pitch on Shark Tank?
In Season 1 Episode 10, Brian Duggan and Adam McCombs provide the Sharks with a one-of-a-kind partnership opportunity via their website, Jump Forward.
Duggan and McCombs entered the Shark Tank seeking $150,000 investment in exchange for a 10% ownership in their firm, worth $1.5 million.
McCombs mentions some well-known sports winners and contends that they were all overlooked throughout the university recruiting process.
According to Duggan, the Jump Forward website allows coaches to research athlete profiles and contact them directly. He uses a well-known visage as an example profile: Robert Herjavec.
Kevin O’Leary was interested in learning how he may benefit from the site. The institutions, according to Duggan, pay a membership fee to the site in order for the student profiles to be hosted.
Sales have been quite strong, with $150,000 sold in three months. Duggan predicts revenues of $15-20 million, but emphasizes that with Shark’s backing, the company may reach $35 million.
Duggan adds value by stating that the company has a patent on the mobile app, which includes proprietary software that ensures teachers follow the stringent compliance rules.
According to Barbara Corcoran, technology enterprises are simply too risky. She went out.
Kevin Harrington, on the other hand, declined to sign on the dotted line for the same reasons.
Daymond John tells the pair that they are “too smart” for him. Three sharks have stepped down, leaving Duggan and McCombs with only Kevin O’Leary and Robert Herjavec as their last hope for a Shark Deal.
The partners’ backgrounds and employment impress Kevin O’Leary. He provides them $200,000 in return for 20% ownership of the company.
They will “consider it,” according to Duggan. Robert Herjavec declares his position. He will provide $300,000 in return for a 35% share in the company.
Kevin O’Leary asks the boys to leave the stage for a bit while he speaks with Herjavec.
He wishes to avert a bidding war before it begins. He proposes that they give the couple $400,000 in return for 50% ownership of the company. “That’s cool,” Herjavec says. They gather the couple once more and make the proposal.
The couple rejects the offer in favor of $200,000 for 16% equity. They want to keep some stock in order to provide future employees equity.
Robert Herjavec offers $500,000 in return for a 50% stake in the firm. The men are still wary. Robert Herjavec ups his offer to $600,000 for a 50% stake in the company.
McCombs counter-offers: they’ll pay $300,000 for a 25% stake or $750,000 for a 50% stake.
Kevin O’Leary and Robert Herjavec were unshakable. The $600,000 offer for 50% equity shares remains unchanged.
Kevin O’Leary and Robert Herjavec work hard to promote their marketing skills and experience.
Finally, the pair discreetly accepts the offer. They get away with $450,000 more money than they asked for.
What Happened to Jump Forward After Shark Tank?
After a lengthy negotiation during the pitch, this deal was never concluded, and the two men left the pitch with a deal.
Jump Forward has done exceptionally well since appearing on Shark Tank. Since then, they’ve developed an app to supplement their web-based company.
Currently, the company serves over 150 collegiate sports departments and has a subscription renewal rate of 99 percent.
Active Network paid an undisclosed price for the firm in May 2016.
As of July 2021, Brian is the founder and CEO of Livly, while Adam is the Chief Product Officer at Vantaca, LLC. Jump Forward’s yearly income is predicted to be 4.8 million dollars, with this figure expected to climb in 2021.
Jump Forward’s Competitors
Front Rush, Arms Software, Fieldlevel, Six0run, Brain-Train, Scout-force, Corgi bytes, Tudor Collegiate Strategies, Contact-coaches, and “Captain-U” are among Jump Forward’s well-known rivals.
Jump Forward’s Net Worth
During the pitch, the firm was valued at $1.5 million. The company has a net worth of $1.2 million.
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Jump Forward FAQs
What does Jump Forward do?
It provides a free service for recruiting coaches to contact college-bound athletes.
Where is Jump Forward located?
The company has offices in Plano, Texas, and Seattle, Washington.
What are some of the available materials through Jump Forward?
The firm provides its users with a variety of materials, including: Athlete profiles, high school transcripts and GPAs, coach evaluation forms, team material samples, athlete interest lists and recruiting budgets.
How does Jump Forward work?
According to the company, students and parents can request a free one-on-one meeting with a college recruiter. The recruiter reviews the student’s Rising Star profile, chat with the student and schedule an appointment at their school of choice.
After meeting with the athlete, the recruiters evaluate each athlete’s college options. According to Jump Forward, its recruiting service is: the most comprehensive method available to use on a daily basis.
Who are the target audience of Jump Forward?
It is specifically designed to be used by college coaches, college staff and administrators, and parents.
What is the cost of Jump Forward?
According to the company, it is free for all coaches, parents and athletes. There are no additional fees or charges. These increases the chances that jump forward can be recommended to other users.
What is the purpose of Jump Forward?
The service helps potential college athletes build a database of collegiate coaches that makes it easier to meet and maintain contact with coaches.
How do they offer free service to interested individuals?
The firm provides its services through an online database. This database is driven by profiling companies and colleges that use the site for recruiting purposes.
Who are some of the people behind Jump Forward?
The founders include Adam McCombs, who is CEO, and Brian Duggan, who is CTO.
How does Jump Forward make money?
The company earns revenue through its database of athletes, coaches, and schools.
What is the business model of Jump Forward?
The firm has a subscription-based model.
What is the most popular program of Jump Forward?
The Rising Star Program offers access to comprehensive nationwide recruiting data that profiles high school athletes. A coach can view their student’s data through an online application and contact the student directly.