Spikeball, a hybrid of volleyball and Four Square gives you an adrenaline rush like no other! A game known for its fast pace and high agility is one of the most adjustable sports to date.
It can be set literally anywhere, from your pool parties to your beach sports competitions, Spikeball has got you covered!!
Spikeball at a Glance:-
| Idea | A new category of ball game |
| Founders | Chris Ruder |
| Asked For | $500,000 for 10% |
| Accepted Deal | $500,000 for 20% |
| Sharks | Daymond John |
| Business status | In Business |
| Episode No. | Season 6, Episode 29 |
| Buy on Amazon | Buy Now! |
Index:
What is Spikeball?
Spikeball is an outdoor game that resembles volleyball up to a certain extent but also includes elements from the game Four Square.
It is played between two teams with two players on both sides and is a very fast-paced game. Its setup includes one ball and a trampoline-like net set in between the teams.
The ball is aimed towards the net so that the opposite team cannot return it. Each team has a maximum of three chances to hit the ball into the net.
The first team that fails to return the ball to the net gets a point for the opposing team. The game has gained huge popularity in America and is now being played at a national level in various big tournaments as well.
Founder Story:
Chris Ruder, a bachelor’s in marketing is the founder of Spikeball. He came up with the idea of Spikeball when he could not find a playing kit for one of the games he played back in the 1980s, called Round Net.
He then saw the huge market extent of outdoor games and brought together his entrepreneurial instinct and his passion for outdoor games in his company, Spikeball.
Chris claims Spikeball to be a manifestation of his childhood dreams of sharing this hidden sport with the world. The startup was hence launched in the year 2008.
Even before entering Shark Tank, Chris had started building a loyal community around Spikeball by encouraging grassroots tournaments, providing sponsored kits to school children, and providing financial aid to interested students.
Did Spikeball get a deal on Shark Tank?
The founder entered the tank with his Spikeball team and a demand of $500,000 in exchange for 10% equity. Chris started by presenting the game and how he got hooked on it.
He demonstrated the advantages of playing the game and how it has been on a constant rise since its inception. He highlighted how he had already started building a loyal community for the game.
This was a one-of-a-kind pitch for all the Sharks and the show itself, where an entrepreneur pitched stakes in a game rather than the product.
As intriguing as it was, the Sharks were primarily concerned about the longevity of the game and their potential ROI in it. They were also concerned about the valuation proposed.
After some rounds of back-and-forth questioning, Daymond John was the only Shark who seemed peculiarly interested in being a part of the company.
He hence offered $500,000 for 20% equity. Even though Chris tried hard to bring Daymond to an equity exchange of 15%, he did not budge and the founder had to ultimately accept Daymond’s deal of $500,000 for 20% equity.
What happened to Spikeball after Shark Tank?
As per the aftermath of Shark Tank, Spikeball became a sensational sport, especially among the highly energetic youth. It started gaining fame as a national-level game and was now being played in more and more schools and educational institutes.
Although the show provided Chris with a massive customer base, the one thing that was promised in the show,i.e., the deal, did not close after the show.
The company is now expanding its roots in various areas of America. Spikeball is reported to have sold about a million gaming sets to date and earns up to $6 million annually as of 2019.
With the advent of successive years, Spikeball has achieved huge success and it is said to have generated $19 million in revenue annually.
Spikeball has patented the game Round Net officially. The tournaments of Spikeball are now going viral, with one of their tournaments being aired on ESPN2 in 2018.
The company is also involved in the Spikeball Roundnet Association since 2016, which ranks the players of Spikeball throughout the US.
Product Details:
- It is a very fast-paced game, providing the much-needed thrill and adrenaline.
- The sport can be played in any type of setting like beaches, backyards, and even gyms.
- It is an outdoor game, that helps to increase physical exercise and also improves hand-eye coordination.
- The setup consists of a round net, four balls, and a carrying bag.
- The carrying bag helps carry the setup to any setting and the net and frame can also be easily disassembled.
What’s the net worth of Spikeball?
Chris entered the tank with a demand of $500,000 for 10% equity, evaluating Spikeball to $5 million. However, the founder accepted Daymond’s deal that reduced the valuation of the company to half,i.e., $2.5 million.
Currently, the company is said to have an annual revenue of $19 million with an estimated Net Worth of around $50 million.
Who are the competitors of Spikeball?
The major competitors of Spikeball are the gaming giants, such as:
- TriStar Ltd
- Paul-son Gaming Corp
- Gilman Gear
- EvoSheild
Is Spikeball still in business?
Yes, Spikeball Inc. is still in business. With the initial publicity through Shark Tank, the company has managed to open various doors of success for itself.
Going from being an unknown, hidden sport to becoming an overnight sporting sensation, Spikeball has come a long way.
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FAQs:
What is Spikeball?
Spikeball is an outdoor game that resembles volleyball up to a certain extent but also includes elements from the game Four Square.
What's the net worth of Spikeball?
Currently, the company is said to have an annual revenue of $19 million with an estimated Net Worth of around $50 million.