In episode 111 of Shark Tank, Brian Duggan and Adam McCombs provide the Sharks with a once-in-a-lifetime opportunity through their website, Jump Forward.
The two identified the need for a simplified means of connecting high school athletes with colleges while complying with compliance requirements due to the complicated rules and regulations that govern the recruitment of high school athletes by colleges, and they aimed to design one.
They allow student-athletes to establish profiles on their website that highlight their achievements.
Will the Sharks be enthralled by chance, or will they pass by this start-up website with a shrug?
What Is Jump Forward?
Jump Forward is a mobile and digital technology provider that enables student-athletes to create profiles that detail their educational aspirations, athletic achievements, interests, experiences, skills, and academic achievements.
Jump Forward is a mobile and web application development company based in the United States, founded in 2008 by Adam McCombs, a former Cisco System’s Product Manager, which aims to provide student-athletes with the ability to create profiles outlining their skills, interests, and achievements.
The company provides tools to colleges and athletic programs that help identify the best athletes and coaches within thousands of possible candidates.
|Company Name||Jump Forward|
|Entrepreneur||Brian Duggan And Adam McCombs|
|Product / Business||An Online Service To Help Athletes, Parents, Coaches, And College Administrators Navigate The College Recruitment Process|
|Investment Asking For||$150,000 for 10% equity in Jump Forward|
|Final Deal||$600,000 for 50% equity in Jump Forward|
|Shark||Robert Herjavec and Kevin O’Leary|
|Episode||Season 1 Episode 10|
|Business Status||In Business|
Who Is The Founder Of Jump Forward?
Brian Duggan and Adam McCombs are the founders of Jump Forward and were the driving forces behind the online sports company’s inception and establishment.
They became friends through their strong Minnesota ties; Duggan, a Burnsville High School graduate, and McCombs, a native of Apple Valley, currently oversee the service used by over 150 collegiate athletic departments around the country.
Adam McCombs was an ardent soccer player as a child. However, after going through the technical and rigorous high school/college recruitment process, he realized how inefficient and frustrating the process was.
This spurred him to develop a more efficient system, which eventually became known as Jump Forward.
McCombs has a strong experience in technology, having earned two Cisco Certified Internetwork Expert (CCIE) certifications while working for Cisco for more than eight years.
Thanks to his athletic background, he could create Jump Forward; however, he needed help on the financial side of things: Brian Duggan.
A former investment banker and auditor, Duggan joined Jump Forward with a background in financial management.
Jump Forward maintains a membership renewal rate of 99 percent, making it one of the best in the United States for sports players of all levels.
Jump Forward Before Shark Tank
Adam McCombs has a long career in technology, having worked for Cisco Technology for more than eight years and earning two Cisco Certified Internetwork Expert (CCIE) certifications.
As a result, he is quite knowledgeable in technology, so he desired to establish an internet business.
He decided to build service so that high school players could make profiles of themselves and coaches could see profiles of high school athletes in response to his observations about how many professional athletes were neglected during their high school years.
Brian Duggan has a wealth of experience as an investment banker and auditor, which makes him an excellent choice for a position in the subject of economics.
Adam McCombs decided to collaborate with Brian Duggan, elevating him to the position of Strategic Adviser for the organization.
Adam McCombs and Brian Duggan claim that their company is cutting-edge and poised to transform the landscape of college sports recruiting.
How Was The Shark Tank Pitch Of Jump Forward?
Duggan and McCombs appeared on Shark Tank seeking an investment of $150,000 in exchange for a 10% share in Jump Forward.
McCombs claims that college recruiters ignored several well-known sports champions while recruiting.
According to Duggan, the Jump Forward website allows coaches to review athlete profiles and communicate with them directly through the website.
He uses this character from a well-known movie as an example: Herjavec’s can serve as an example.
Kevin O’Leary is interested in finding out how he might generate money on the platform in the future.
Duggan explains that the institutions pay a subscription fee to the site to host student profile information.
Sales have been quite high, with $150,000 in sales in just three months! According to Duggan, it is expected that sales will reach $15-20 million, who also points out that Shark could help the company reach $35 million.
The company holds a patent on the mobile application that features proprietary software that ensures coaches adhere to the complicated compliance regulations, which adds value to Duggan’s plan.
Corcoran believes that investing in technology companies is simply too risky, if possible. She’s no longer in the picture! On the other hand, Kevin Harrington is unwilling to make a deal for the same reason.
Daymond John tells them that they’re “too smart.” Duggan and McComb’s only hope of securing a Shark Deal rests with Kevin O’Leary and Robert Herjavec, as the other three sharks have backed out.
It is the partners’ backgrounds and their work that impress O’Leary. A 20 percent stake in the company will fetch them $200,000 from him.
It will be “taken into consideration,” according to Duggan. In his own words, Robert Herjavec’ll make a $300,000 offer in exchange for 35% of the business.
Herjavec suggests that the guys leave the stage during the negotiation O’Leary is having with him. He wishes to end the bidding war before a bidding war begins.
He suggests that they make an offer to the couple of $400,000 for a 50 percent stake in the business. Herjavec concurs, noting, “That’s cool. Their offer is made after they call them back in.
However, they instead ask for $200,000 in exchange for 16 percent of the business. The company wants to hold onto some equity to be able to give stock options to future employees.
He offers $500,000 in exchange for 50% of the company. Men are still hesitating about speaking up for themselves. Herjavec raises his offer to $600,000 from the previous $500,000 figure.
McCombs counters with a $300,000 offer or a $750,000 offer for a 50 percent stake in the company.
Neither Herjavec nor O’Leary is going down without a fight. It is still possible to purchase 50% of the property for $600,000. Herjavec and O’Leary are in the business of selling their marketing expertise and experience to prospective clients.
As a result, the couple accepts the offer with dignity. This time, they walk away with a whopping $450,000 more than they asked for when they came in.
Final Deal: Kevin O’Leary And Robert Herjavec agreed to invest $600,000 for 50% equity in Jump Forward.
What Happened To Jump Forward After Shark Tank?
The Sharks provided funding to Adam McCombs and Brian Duggan so that they might use their expertise in the field of technology, even though Jump Forward was already profitable.
Jump Forward is a program designed to help high school players gain the attention of college sports recruiters.
You can quickly alert coaches to your existence by building your athlete profile.
Three of the Sharks declined Jump Forward’s investment due to their aversion to tech startups.
Robert Herjavec and Kevin O’Leary agreed to collaborate and provided $600,000 in exchange for a 50% share in Jump Forward.
Although Jump Forward could use Kevin O’Leary and Robert Herjavec’s experience, Brian Duggan accepted the offer despite his reluctance. On Shark Tank, there is no discussion of Jump Forward being the greatest or worse.
Jump Forward’s web address is http://www.jumpforward.com. It is immediately apparent that the website has been kept current.
As a responsive website, it works well on desktop computers and mobile devices.
Adam McCombs and Brian Duggan appear to have been able to expand Jump Forward following their investment from the Sharks.
Jump Forward has today over one hundred fifty different College Athletic Departments and over one hundred fifty thousand users.
Jump Forward’s products and services appear to have been updated.
The software has been upgraded and is now available to all Jump Forward users for free.
The application supports all Android, iOS, and Blackberry devices. There is a lot of praise for the application, but others note that it does not explicitly mention that it is not free to use.
I believe that Kevin O’Leary and Robert Herjavec’s investment has aided Jump Forward’s great growth as a firm.
Jump Forward Shark Tank Update
The deal between Jump Forward and Sharks was never completed. Jump Forward has done extremely well since making its appearance on the Shark Tank in 2012.
Jump Forward has since developed an app complement to its web-based platform.
The company now provides services to over 150 collegiate athletic departments and has a subscription renewal rate of 99 percent annually.
It was announced in May 2016 that Active Network had acquired the company for an unknown sum.
As of March 2022, Brian will have served as the founder and CEO of Livly, while Adam will have served as the Chief Product Officer of Vantaca, LLC.
Is Jump Forward Still In Business?
Jump Forward, a mobile provider and online technology company, has created a LinkedIn/Facebook page for athletes to showcase their abilities to recruiters.
Jump Forward is still in business and provides semi-professional college athletes with a platform to showcase their sporting performances.
Not only can collegiate athletes participate, but so can coaches and representatives from other sports organizations.
Brian Duggan and Adam McCombs, the company’s co-founders, have subsequently left the company, which Active Network acquired in 2016.
Jump Forward’s revenues come from subscription fees charged to institutions and advertising on its website, which is entirely funded by donations. The annual turnover of Jump Forward as of 2022 is $5 million.