GRIND Basketball Shark Tank Update | GRIND Basketball Net Worth

GRIND Basketball, featured on Season 12 of Shark Tank, is a product that transcends the conventional limits of basketball practice. 

Founded by former NBA aspirant Thomas Fields, GRIND Basketball is a product of GRIND Inc., a company committed to the development of interactive sports products that address the needs of athletes. 

Their debut offering, a basketball shooting machine, is a breakthrough tool that remarkably improves basketball training.

The GRIND Basketball shooting machine is a portable, collapsible, and affordable rebounding machine. 

Designed to fit under any basketball goal, it aids the collection of both missed and made shots, automatically rebounding and returning the ball to the player. 

GRIND Basketball makes solo practice incredibly efficient, obviating the need for retrieving the ball after each shot. Its accessibility makes it unique.

Priced significantly lower than similar machines on the market, GRIND also offers a payment plan to make purchasing more financially feasible for aspiring athletes. 

Furthermore, the GRIND machine is characterized by a large, 12-foot net that collects and returns both missed and accurate shots. It’s equipped with a quick 3-4 second return time, meaning it can manage up to 500 shots every hour. 

The machine is not battery-operated but rather runs through a standard U.S. electrical outlet, making it a convenient option for indoor facilities. In addition to its portability, it is easy to assemble and can be set up in 90 seconds in any practice location. It weighs approximately 110 pounds.

GRIND Basketball’s shooting machine is a significant asset for players looking to improve their basketball skills, including their catch-and-shoot efficiency, footwork, balance, explosion, follow-through, creativity, and basketball IQ. 

This equipment offers invaluable, professional-level training to players at an affordable price point, making it a wise investment for anyone serious about enhancing their performance on the court.

Company NameGRIND Basketball
EntrepreneurThomas Fields
ProductMachine for training basketball on the go
Investment Asking For$250,000 for 5% equity in GRIND Basketball
Final Deal$250,000 for 25% equity in GRIND Basketball
SharkMark Cuban and Barbara Corcoran
GRIND Basketball Episode Season 12, Episode 23
GRIND Basketball Business StatusIn Business
GRIND Basketball WebsiteVisit Website
GRIND Basketball Net Worth$1.5 Million

What Is GRIND Basketball?

GRIND Basketball is a company that offers a portable shooting machine for basketball training. The machine is designed to be easily transported and set up, allowing athletes to train at home or in the gym. 

GRIND Basketball features a button sensor for capturing made and missed shots and has various features to improve shooting skills. GRIND Basketball also offers payment plans and financing options for their equipment.

GRIND Basketball Shark Tank Update | GRIND Basketball Net Worth

GRIND Basketball’s portable shooting machine is specifically designed for modern athletes who want to improve their shooting skills. Here are some more details about the machine:

  1. Portability: The shooting machine can be folded into a duffel bag, making it easy to transport. It is designed to fit in your car, allowing you to take it wherever you go for training.
  2. Safe for players ages 8+: The machine is designed with a button sensor, not motion collapse, ensuring safety for players of all ages.
  3. Smooth Takedown: The poles of the machine can slide down and lock in minutes, making it convenient to set up and take down.
  4. Captures made and missed shots: The shooting machine captures both made and missed shots, allowing players to focus on their shooting reps rather than chasing rebounds.
  5. Multiple shooting spots: There are 5 spots around the key, allowing players to improve their shooting from various positions on the floor.
  6. 12 Ft tall net: The machine comes with a 12 ft tall net, providing optimal shooting arc for practicing shooting techniques.
  7. Easy transport: With a weight of 110 lbs and a cushioned handle, the shooting machine is easy to transport.
  8. Store anywhere: The machine has a size of 4’x2′, which is equivalent to the size of a large suitcase, making it easy to store in any space.
  9. Game-like passing: The machine extends to the NBA 3-point line with rotation, providing a game-like passing experience during training.

In addition to these features, GRIND Basketball emphasizes that their shooting machine is completely portable, easy to use, efficient (allowing 1000 reps per hour), and the most affordable option available with payment plans and financing options.

Who Is The Founder Of GRIND Basketball?

The founder of GRIND Basketball is Thomas Fields, an elite high school basketball player with a passion for the sport and an entrepreneurial spirit. 

He hails from Houston, Texas, and his academic credentials include an accounting degree from the University of Houston, C.T. Bauer College of Business, and completion of the Success Initiative Program at MIT Sloan School of Management. 

In addition to founding GRIND, Thomas has had significant involvement in other innovative endeavors, serving on the board at Texas Base TXRX Labs and working for Red Labs Startup Accelerator for a year during his college days.

Thomas’s journey to creating GRIND Basketball was born out of adversity. As a high school basketball player, he aspired to play in Division 1 and potentially make it to the NBA. 

His plans, however, were derailed by a series of injuries – two torn ACLs in his sophomore and junior years and a torn meniscus in his senior year. Despite these setbacks, his passion for the game remained undiminished.

During his recovery, Thomas observed a significant barrier to effective training – the high cost and limited availability of basketball training machines. 

This inspired him to think about how he could solve this problem for athletes who, like him, wanted to continue honing their skills independently. Determined to make a difference, he conceived the idea of a portable, affordable, and easy-to-use basketball training machine.

In 2014, he began prototyping this innovative equipment, investing his energy into creating a device that was functional, affordable, and accessible to a wide range of athletes. 

By March 2020, Thomas had turned his vision into reality, launching GRIND Inc. and its debut product, the GRIND Basketball shooting machine. 

The company’s success story was further enriched when Thomas entered the Shark Tank in 2021, securing substantial investment and validation for his brainchild. 

Despite his initial aspirations of becoming a professional basketball player being thwarted, Thomas Fields turned his misfortune into a groundbreaking solution that has made basketball training accessible for many more players.

Before appearing on Shark Tank, GRIND Basketball was a budding company with an innovative product conceived out of necessity. 

The journey started when founder Thomas Fields, an avid basketball player, had his Division 1 playing aspirations cut short due to recurring injuries. 

Despite these setbacks, Thomas held onto his love for the game and identified a need in the market for affordable, portable basketball training machines.

Thomas embarked on the creation of his training machine prototype in 2014. Recognizing that existing training machines were prohibitively expensive for many aspiring players, he was determined to develop a cost-effective solution. 

After refining his prototype and building a real machine, he officially launched his company, GRIND Inc., in March 2020.

The company’s flagship product, the GRIND Basketball shooting machine, was a unique offering in the sports equipment market. 

This portable, collapsible, and affordable rebounding machine could be installed under any basketball hoop, allowing players to practice their shooting skills independently. 

This machine would automatically rebound both missed and made shots, enabling continuous training without the need for manual ball retrieval.

Before entering the Shark Tank, GRIND had impressive preliminary success. Despite starting the business with only $15,000, the company managed to pre-sell $215,000 worth of their shooting machines in just five months. 

Thomas used his e-commerce website to make these sales, creating a buzz around his product solely through word of mouth.

Despite this promising start, Thomas knew he needed additional funding to manufacture and fulfill the pre-orders and to grow the business further. 

This led him to take his innovative product to the Sharks, seeking their expertise and investment to scale GRIND Basketball to new heights. The strong foundations laid before appearing on Shark Tank undoubtedly contributed to his successful pitch.

How Was The Shark Tank Pitch Of GRIND Basketball?

The Shark Tank pitch for GRIND Basketball was led by Thomas Fields, the founder and CEO of the company. Entering the tank, Thomas sought an investment of $250,000 for a 5% equity stake in his company, valuing GRIND at $5 million. 

He began his presentation by sharing his personal story and the motivation behind the creation of the company, then proceeded to give a live demonstration of the GRIND Basketball shooting machine in action.

In order to fully demonstrate the potential of his product, Thomas invited Mark Cuban, one of the Sharks, to use the machine. 

While Mark initially struggled to get a shot in, the demonstration effectively showcased how the machine worked – collecting the balls and automatically rebounding them to the player.

Thomas then provided further details about the business, including its financials and operational costs. 

He mentioned that the retail price of the GRIND Basketball machine was $1,495, with a production cost of $977 per unit, offering a comparison to similar machines in the market, which cost over $6,000. 

He further revealed that he had started the business with just $15,000 and that GRIND had pre-sold $215,000 worth of their machines in just five months through their e-commerce website.

However, the Sharks voiced some concerns. Kevin O’Leary and Lori Greiner found the product cool but opted out. Alex Rodriguez voiced his concerns about the price and margin and decided not to invest. 

Both Mark Cuban and Alex Rodriguez also questioned the low margins and high company valuation, which could pose a challenge for investors.

Despite these reservations, Mark Cuban and Barbara Corcoran saw potential in the product and the company. 

They acknowledged Thomas’s commitment to making the product affordable and recognized that they could bring value in terms of business logistics and marketing. They ultimately offered $250,000 for a 30% equity stake in GRIND.

In response, Thomas counter-offered, asking for $300,000 for a 25% stake, emphasizing his belief in the company’s potential to easily reach a valuation of $10 million in a few years.

After some back-and-forth negotiations, Mark and Barbara agreed to invest $250,000 for a 25% equity stake in GRIND Basketball, marking a successful end to the company’s Shark Tank pitch.

Did GRIND Basketball Get a Deal on Shark Tank?

Yes, GRIND Basketball did get a deal on Shark Tank Season 12. Thomas Fields, the entrepreneur behind GRIND, appeared on the show seeking $250,000 for 5% equity in his portable, collapsible, and affordable rebounding machine business. 

Mark Cuban and Barbara Corcoran made an offer of $250,000 for 25% equity, which Thomas ultimately accepted. However, research for the GRIND update revealed that the deal with Barbara and Mark never closed.

Despite this, GRIND was able to sell and ship over 1 million pre-ordered units and has seen significant growth since appearing on Shark Tank. 

The company now sells other merchandise in addition to its rebounder, and reviews of the GRIND Machine have been positive.

What Happened To GRIND Basketball After Shark Tank?

After Thomas Fields appeared on “Shark Tank” with his GRIND basketball shooting machine, he received an investment offer from Mark Cuban and Barbara Corcoran. 

They offered to invest $250,000 in exchange for a 25 percent equity stake in the concept. Although the percentage was higher than what Fields initially asked for, it provided the necessary funding to move forward with his idea.

Since then, GRIND has experienced significant success. By late December 2021, the company had received over a million dollars in pre-orders for the product. 

They have also been able to fulfill 80 percent of those orders by the end of 2022. This demonstrates the high demand for the GRIND basketball shooting machine.

Furthermore, GRIND was selected to participate in the Techstars Sports Accelerator program based in Indianapolis. 

This opportunity allowed Fields to connect with various sports technology investors, expanding his network and potential for further growth.

GRIND has been able to raise a total of 1.6 million dollars in funding since appearing on “Shark Tank.” The investment and subsequent exposure on the show have played a significant role in the success and development of GRIND Basketball.

GRIND Basketball Shark Tank Update

GRIND Basketball appeared on Shark Tank Season 12 and received a deal from Mark Cuban and Barbara Corcoran. The deal was for $250,000 in exchange for 25% equity in the company. After the show, GRIND experienced significant growth and success.

The company has sold and shipped over 1 million pre-ordered units since appearing on Shark Tank. The GRIND Machine has received positive reviews, with some customers calling it their best investment.

GRIND Basketball Shark Tank Update | GRIND Basketball Net Worth

In addition to the rebounding machine, GRIND now sells other merchandise, such as shirts, hoodies, and shorts. The company has expanded its brand and offerings.

Although the deal with Barbara and Mark did not close, GRIND was able to fulfill its pre-orders and continue to operate successfully. 

The rebounder is available for purchase on the GRIND website and Amazon, although the price has increased since its appearance on Shark Tank.

GRIND Basketball has thrived after appearing on Shark Tank, growing its brand and fulfilling customer orders.

Is GRIND Basketball Still In Business?

Our research shows that Grind Basketball is still in business. The company, founded by Thomas Fields, has been working on developing and manufacturing the Grind machine, a portable and affordable basketball practicing machine. 

They have been filling pre-orders in batches and are currently in the process of delivering machines from their third batch, with an expected delivery date in November 2021.

To make the machine more accessible, Grind offers monthly payment plans starting from as low as $319/month on their website. They have also been working on perfecting software for the machine, which will allow players to track their practice sessions and use their stats to challenge players from around the world. 

Additionally, the app will be used to share the practice stats of young players with college coaches and recruiting experts, aiming to reduce the chances of talented players being overlooked.

Thomas Fields, the founder of Grind, also has plans to inspire inner-city kids to get into sports and promote their interest in engineering and technology through his company. 

He intends to broaden the range of machines offered by Grind to include other sports and also plans to offer apparel through the company.

Grind Basketball is actively operating and continuing to develop its products and services.

What Is the Net Worth Of GRIND Basketball?

According to our research, the net worth of GRIND Basketball is estimated to be $1.5 million. The valuation of GRIND Basketball was $1 million after securing an investment from Mark Cuban and Barbara Corcoran on Shark Tank.

Also, read about other businesses that appeared on Season 12 of Shark Tank: