What Happened to Spikeball After the Shark Tank Pitch?
What is Spikeball?
Spikeball is a beach game that combines features of volleyball with a few more inventive innovations to create a marvel.
In this game, two teams of two players compete (2 versus 2). Volleyball does not have sides, thus you must move with the ball. In addition, instead of a net, there is a trampoline.
Who Founded Spikeball?
Chris Ruder founded Spikeball in Chicago, Illinois.
Chris, a qualified photographer, worked as a salesperson for a number of companies.
He worked for Microsoft when Spikeball was still in its infancy. He left Microsoft after Spikeball stabilized and became the company’s CEO, a position he still holds.
Surprisingly, Chris Ruder did not come up with the idea for Spikeball. Jeff Knurek invented it, but he either forgot or didn’t bother to file a patent for it.
After the trademark expired, Chris and his friends registered the company.
Chris and his pals were inspired to establish Spikeball after a tour in Hawaii.
Strangers stared and inquired about where they might get Spikeball as well as how to play the game.
The team saw right once that recreating the game could be a great commercial opportunity, and they were right.
The group raised $100,000 to establish the business.
What Happened to Spikeball at the Shark Tank Pitch?
Chris is most likely looking for a Shark to help him establish the game as a sport through sponsorship and broad market exposure.
Chris and his crew appeared on Shark Tank in the hopes of receiving $500,000 in exchange for a 10% ownership in their company.
An exciting game is played on stage to promote the items. They explain how an old toy’s trademark has expired. They reactivated it and started making and selling them again. To market it, they run competitions.
So far, they’ve sold 29,000 units in a year. They anticipate $3.2 million in sales this year (2014).
Each unit costs $14 to land and sells for $59.
He thinks he can lower the price to $10. Since Dick’s Sporting Goods has placed a 10,000-unit order with him, he needs the Shark funding to produce more units.
Kevin is hesitant about the price, but chooses to wait and see how the other Sharks react.
Lori is the first Shark to depart, citing that she cannot accept the offer.
Nick argues that he is simply uninterested, thus he is out.
Mark thought the concept was absurd at first, but as the pitch went, he grew to like it. Regardless, he goes out, noting the cost.
Kevin steps in and offers a $500,000 loan with a 9% interest rate in exchange for a 10% ownership in the business.
In exchange for a 25% equity position, Daymond is willing to pay $500,000 for the license rights. Chris gets 15% of the vote, while Daymond gets 22% of the vote. When Chris responds with a 20%, Daymond agrees. This raises the company’s valuation to $2.5 million.
What Happened to Spikeball After the Shark Tank Pitch?
The deal with Daymond never went through.
Since its debut in the Tank, spikeball has been a great hit, with competitions taking place all around the country. In August of 2020, they got a patent for their game.
At least two knock-offs are expected to get letters from Chris’s attorney accusing them of infringing on his intellectual property.
Customers can purchase the product through the company’s website, e-commerce platforms such as Amazon, retail locations in the United States, and distributors worldwide.
Since 2008, the Chicago, Illinois-based organization has grown to over 40 full-time employees.
It also sponsors, on average, 150 events every year throughout the world, with over four million players taking part.
The brand is also highly involved in schools (at all levels), with Physical Education teachers able to join up for a free certification training on how to conduct a game amongst learners and condition players with workout routines.
The company’s founder, Chris Ruder, is still the CEO.
As of August 2021, they’ve sold over 1 million units and have a $6 million annual profit.
What is Spikeball’s Net Worth?
In 2021, its net worth is expected to be about $5 million.
Who are the Spikeball Competitors?
Spikeball competes with a variety of companies, including Hyperloop, which sells a similar product with a connected slide for moving the ball around.
RampShot is a game that may be played by up to four people at the same time.
RampShot has its own set of rules and equipment, but the principle is the same: it’s a fun and exciting outdoor game that involves hand-eye coordination, motor skills, and teamwork.
Kan Jam; takes the same concepts and applies them to frisbee and bucket-themed activities, but this time with two players. It can also be found in schools.
Spikeball FAQS
Who owns Spikeball?
Spikeball Inc. was founded by Chris Ruder, who is also the CEO.
Did Shark Tank invest in Spikeball?
Spikeball, a beach game originating in Chicago that combines aspects of volleyball and foursquare, was featured on Shark Tank and received a $500,000 investment for a 20% interest from Daymond John.
How popular is Spikeball?
One of the most fundamental sports, and one that is rapidly gaining popularity around the globe.
Despite the fact that it is simply just a ball and a net, spikeball attracts about four million participants and more than 150 events each year.
At school, students spend endless hours playing with their peers and attempting to develop their abilities.
What’s the deal with Spikeball being so expensive?
The term “pro quality” refers to some of the more expensive Spikeball sets.
This means they’re made of tougher materials, resulting in a more stable playing surface. The Spikeball Company’s branded sets are usually more expensive.
Are Spikeball players compensated?
Individual players are not compensated, while sponsorship opportunities exist.
Is it possible to play Spikeball with two players?
Spikeball is a two-team sport in which two players battle against one other.
Opposing teams line up across from each other, with the spikeball net in the middle.
A serve is a hit by the server into the net from behind the service boundary, putting the ball in play for an opposing player.
Will Spikeball be a part of the Olympic Games?
The game’s official apparel partner is Savage Ultimate, while the beer sponsor is Landshark Lager.
Top-ranked players joke that roundnet may be a contender for Olympic inclusion – yes, there are national Spikeball rankings, and sure, the Olympics exist.
Is Spikeball a competitive sport?
Spikeball’s main competitors are Rampshot, Franklin Sports, and Kanjam.
Where is Spikeball headquarters?
Spikeball’s headquarters are in Chicago.
What are the names of the three Spikeball touches?
When a player serves the ball down onto the Spikeball net and it bounces back towards his opponents, a point is started.
With up to three hits, the returning team can return the ball to the net (imagine bump, set, and spike).
On Spikeball, how can they become a premier?
Teams earn a spot in Premier by finishing first or second in the Advanced level of a sanctioned event.
In Spikeball, can the ball strike the net twice?
After the serve, the receiving team has a maximum of three hits to bounce the ball off the net. The two players must hit each other in turn.
Which episode of the Shark Tank was Spikeball aired?
Shark Tank’s season 6 episode 29 featured Spikeball.
Where can they buy Spikeball?
Spikeball is available at Bed Bath & Beyond, Dick’s Sporting Goods, Target, Walmart, and Ace Hardware, among other places. The item is also available on Amazon.
