Spikeball Shark Tank Update

Spikeball: An Innovative Outdoor Sports Game

Spikeball gained widespread attention when it was featured in Season 6 of the popular American reality TV series, “Shark Tank.”

This fast-paced and high-energy game is often likened to a blend of volleyball and four square, providing players with a unique and exhilarating exercise opportunity.

The Spikeball kit comprises a round net on a circular frame, four balls, and a convenient carrying bag, enabling players to easily transport it to various outdoor locations like the beach, park, or backyard gatherings.

Played by two teams of two players each, the objective of the game is to hit the ball onto the net in a way that the opposing team cannot return it, scoring points when the other team misses or makes an error.

Spikeball is popular among players of all skill levels because of its portability and quick setup. The net and frame can be swiftly disassembled and packed into the carrying bag, making it ideal for trips and outdoor events. This adaptability allows both beginners and advanced players to enjoy the game equally.

Spikeball: An Innovative Outdoor Sports Game

Spikeball caters to individuals looking for a fun, competitive outdoor activity that offers an excellent workout, enhances hand-eye coordination, and fosters teamwork.

From casual games at the beach to organized tournaments, Spikeball offers a captivating and entertaining way to stay active while socializing.

Founded by Chris Ruder, an entrepreneurial visionary with a Bachelor’s Degree in Marketing from Marquette University, Spikeball originated from a childhood game called “roundnet” that Ruder played in the 1980s.

Unable to find a suitable kit as an adult, Ruder took matters into his own hands and created what is now known as Spikeball.

Established in 2008 with a clear vision to revolutionize the game and introduce it to a wider audience, Spikeball steadily gained popularity before its breakthrough on “Shark Tank.”

Ruder’s strategic community-building efforts, including providing sets to PE teachers and promoting grassroots tournaments, played a crucial role in creating a market for the product and fostering a passionate player community.

While facing challenges in marketing and scaling up, Spikeball found a turning point with its appearance on “Shark Tank,” which significantly boosted its publicity and sales.

The televised pitch, combined with the inherent appeal of the product itself, resonated with audiences and propelled the brand to new heights.

Spikeball Shark Tank Pitch

When Spikeball made its debut on the popular television show “Shark Tank” in 2015, it marked a significant turning point for the company.

Founder Chris Ruder took center stage, aiming to secure $500,000 for a 10% share in Spikeball, valuing the company at $5 million.

During his pitch, Ruder showcased the game’s unique features through a live demonstration, highlighting its portability, user-friendliness, and blend of competitiveness and fun.

He also emphasized the growing Spikeball community, with leagues and tournaments sprouting up across the nation.

The Sharks were captivated by the presentation, recognizing the potential of the product and admiring the company’s expansion and Ruder’s marketing approach.

While some expressed reservations about the company’s valuation and the game’s long-term appeal, Daymond John, a branding and marketing expert, eventually offered $500,000 for a 20% stake in Spikeball, double what Ruder initially sought.

Despite attempting to negotiate a 15% stake, Ruder ultimately accepted John’s 20% offer, acknowledging the value of having such a seasoned Shark on board.

The deal proved beneficial for Spikeball, providing them with not just funding but also valuable guidance and heightened exposure.

This appearance on “Shark Tank” significantly boosted Spikeball’s popularity and solidified its position in the outdoor games market.

Spikeball After Shark Tank

After its feature on “Shark Tank,” Spikeball underwent a remarkable transformation, leading to significant success.

The exposure garnered from the show resulted in a surge in sales and a spike in popularity, propelling the game from a household pastime to a nationwide sensation.

Founder Chris Ruder successfully secured a $500,000 investment from Daymond John in exchange for a 25% stake in the company, valuing it at $2 million.

This investment not only provided Spikeball with the necessary capital but also invaluable mentorship to effectively manage its growth trajectory.

Described as a competitive fusion of volleyball and foursquare, Spikeball quickly gained traction, amassing over 250,000 players and 1,000 top-ranked teams in the US.

The company expanded its leagues throughout North America, cultivating a dedicated and engaged player community.

Spikeball After Shark Tank

Post-“Shark Tank,” Spikeball’s business flourished. The company reported selling over a million sets annually, generating $6 million in revenue and maintaining a steadfast fan base.

Continuing on its path of success, by January 2023, Spikeball had amassed $19 million in annual revenue with aspirations to elevate its status to an Olympic sport. The unexpected and widespread triumph of the game far exceeded the founder’s initial projections.

Throughout its journey, Spikeball exhibited resilience and adaptability. Despite the deal with Daymond John on “Shark Tank” falling through, the show’s exposure enabled the company to secure a patent, expand product distribution, and fortify its market position.

The game’s triumph also translated into the company’s financial prosperity, employing 40 individuals and making a global impact.

Spikeball is still in business, with an estimated net worth of $50 million. The valuation of Spikeball was $2.5 million after securing an investment from Daymond John on Shark Tank.

In summary, Spikeball’s appearance on “Shark Tank” catalyzed its rapid expansion, transforming it into a thriving business with a substantial following and global reach. The game’s popularity, coupled with a robust online presence and active social media following, solidified the company as a prominent player in outdoor sports and entertainment.