What Happened to Slyde Handboards After the Shark Tank Pitch?
What is Slyde Handboards?
Slyde Handboards is a bodysurfing firm that specializes in handboard manufacturing. Slyde Handboards are impeccably crafted to deliver superior buoyancy, faster speeds, less spray back, more control and balance, and longer rides than any other bodyboarding equipment.
They open up the sport of bodysurfing to individuals of all ages and abilities.
Although their use will become natural with repetition, the gentlemen at Slyde warn that you will almost likely be barrelled on your first outing.
The Slyde Handboards are made of high-density foam reinforced with triaxial fiberglass, hardened resin side rails, and a PPX flak jacket on the exterior.
Additionally, they incorporate easy GoPro camera mounts. They are available in two basic shapes: the wedge and the bula.
In general, larger boards offer more lift, stability, and carving ability. Smaller boards necessitate larger and faster waves.
The Wedge is a fantastic board for riders of all skill levels.
It handles well and has more buoyancy capacity, allowing for longer rides and increased lift. It has a low drag coefficient, a high top speed, and plenty of turn and roll control.
Bula’s compact size and concave shape make it great for steep, fast waves, bottom twisting, and speed pumping.
Who is the Founder of Slyde Handboards?
Slyde Handboards is a bodysurfing and water sports company. It was created in 2010 by Steve Watts and Russell Ellers, who were later joined by Angela Watts.
The entrepreneurs have spent years studying and perfecting hand boarding equipment.
The designer and developer, Steve Watts, grew up bodysurfing on the South African coast. As a youngster, he and his friends deemed full-size surfboards to be too heavy and unwieldy to manoeuvre.
As a result, they began experimenting with non-traditional materials, ranging from scraps of wood to flip flops, to collect waves.
They realized that fast food trays provided the best ride, as they were easily capable of capturing and controlling a wave.
This was the genesis of the most technologically advanced bodysurfing hardboards ever produced.
What Happened to Slyde Handboards at the Shark Tank?
Steve and Angela made an appearance on Shark Tank season 7 episode 24 in exchange for a $200,000 investment and a 15% ownership in their firm. This equates to a $1,333,333.33 valuation.
With approaching debt and their entire financial resources invested in the firm, they’re counting on the Sharks to bail them out. They show how to use the Slyde boards and distribute product samples.
Angela said that the carbon fibre model is $199, while the standard model is $169, and the couple had sold $366,000 in items since the company’s inception in 2011.
They sold $159,000 worth of merchandise last year. They anticipate earning $295,000 at the fiscal year’s end.
They invested $10,000 in the business.
Robert Herjavec already runs a company called Hand Boards, which distributes its products mostly through independent surf shops.
He observes that profit growth with that model has been modest and inquires about the couple’s marketing approach.
Angela says that they must educate people in order to boost sales through big box stores.
Lori Greiner is wondering if she is the perfect business partner. She has evaded capture.
Kevin O’Leary, despite his belief that the firm is too small to invest in, offers to marry the couple “right here in the Shark Tank.” He rejects despite his offer.
Mark Cuban is focused in establishing the consumer’s identity. Angela cites surf fans between the ages of 13 and 16 and 20 and 30. Mark argues that the market is maybe too small. His business, Tower Paddleboards, is in need of further things.
While Ashton Kutcher has a big online distribution network, he is unfamiliar with this sort of goods. “I’m a farm guy from Iowa,” he quips.
He is eager to make an offer, though, if Mark Cuban joins in. Mark immediately accepts, and the pair makes a $200,000 offer in exchange for a 25% interest.
Angela and Steve are hesitant to give up more than 20%, but Mark explains that if they reject the arrangement, the additional 5% will be insignificant.
Kevin inquires as to whether Robert is now employed. Robert takes a stop.
Kevin becomes enraged and rushes in with a $200,000 offer for a 15% stake in the firm in exchange for which he would marry them.
Robert, not to be outdone, offers $200,000 for 15%.
Angela responds, inquiring whether Mark and Ashton are willing to do $200,000 for 20%. “Raise it to 22% and you’ve got a deal,” Mark suggests. Before accepting, the two had a brief discussion. They leave the stage clutching a twin Shark deal.
Ashton Kutcher is overjoyed with his new investment, dancing on the little table and saying, “I adore winning.” I take pleasure in victory.” Slyde appears to have recruited an enthusiastic investor who will help them ride the waves to success.
What Happened to Slyde Handboards After the Shark Tank Pitch?
Ashton has been actively involved in social media advertising and branding since she appeared on Shark Tank.
Mark has the acute commercial acumen that the couple need.
The pair and the entrepreneurs have grown the company’s annual sales to more than $1 million.
Currently, the boards are offered in over 40 locations around the United States. A distributor is located in the United Kingdom, while another is located in Spain.
Angela admitted in a Forbes interview that it was difficult to turn down Robert and Kevin’s proposals, but that Ashton and Mark are the “Slyde dream team” investors.
This is one method of surfing that entails riding the wave all the way to the bank.
Slyde receives an update section in season ten, episode 1003. They keep Mark and Ashton informed on the progress of new things being developed for the upgrade.
They crowdfunded The Slyde Grom, a soft board, in 2017 via a Kickstarter campaign.
They were introduced in 2018 at Dick’s Sporting Goods.
As of December 2021, the business is still operational and is expected to earn yearly revenue of between $2 and $2.5 million.
What is the Net worth of Slyde Handboards
Steve and Angela make an appearance on Shark Tank season 7 episode 24 in exchange for a $200,000 investment and a 15% ownership in their firm. This equates to a $1,333,333.33 valuation.
They accepted a $200,000 offer from Mark and Ashton for a 22% share, valuing the firm at $909,090.90.
Who are the Competitors of Slyde Handboards?
Slyde Handboards’ competitors include Decathlon, Foundry Outdoors, G.I. SPORTZ, and XXL ASA.
What Happened to Power Pot After the Shark Tank Pitch?
What Happened to Three Day Rule After the Shark Tank Pitch?
Slyde Handboards FAQS
How can they contact Slyde Handboards?
Slyde Handboards’ can be contacted through their website at www.slydehandboards.com
What is Slyde Handboards?
Slyde Handboards are surfboard hardboards that were the brain child of brothers Steve Watts and Russell Ellers,
Where is the headquarters of Slyde Handboards?
The headquarters of Slyde Handboards are located at Ocean Front Walk Ste Venice, California, United States.
4. How much does Slyde Handboards costs to buy?
Carbon fibre model is $199, while the standard model is $169,
Where can they buy Slyde Handboards?
Currently, the boards are offered in over 40 locations around the United States. A distributor is located in the United Kingdom, while another is located in Spain.
How much was Steve Watts and Russell Ellers seeking in the Shark Tank?
Steve Watts and Russell Ellers sought $200,000 for a 20% share in the company.
Did Slyde Handboards get a deal from the Shark Tank?
Yes, Mark Cuban and Ashton Kutcher offered them $200,000 for 22% stake in the Slyde Handboard.
What happened to Slyde Handboards after the Shark Tank?
Ashton is extremely proactive in social media marketing and branding.
The company’s revenue grew to $1 million within a year after the Shark Tank pitch aired.
Is Slyde Handboards still in business?
Yes, as of December 2021, the business is still operational and is expected to earn yearly revenue of between $2 and $2.5 million.
How Long Will their Slyde Board Last?
Their boards are quite durable. If they look after them, a very long period. They are constructed with the highest quality materials and are built to last. Take care of them and they will endure for years.
