The Magic 5 Net Worth: Before And After Shark Tank

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Dive into the deep end with The Magic 5, where goggles meet groundbreaking tech for swimmers. Thanks to Shark Tank, they've made a splash, showcasing their innovation to the world. Flipping between persuasion and data, they've mastered the art of selling with style.

For such a young businesses as The Magic 5, Shark Tank is the ultimate crash course in swimming with the sharks of commerce. With visibility and exposurel, it's a game-changer for those still finding their stroke in the business waters.

So, strap on your goggles and take the plunge—here's The Magic 5 net worth before and after Shark Tank!

Key takeaways

  • The Magic 5, a custom-fit swim goggle company that debuted on ABC's Shark Tank, had a perceptive valuation of $9 million before the TV appearance.
  • Impressed by The Magic 5's innovative technological design, the Sharks were eager to assist and grow the business.
  • The Magic 5 eloquently pitched their solution-driven product to the investable panelists. Robert Herjavec was moved to commit $1 million for a 6.5% stake, with Mark Cuban subsequently joining the deal post-show.
  • Shark Tank served as a monumental catalyst for The Magic 5, exponentially increasing revenue fivefold following their segment.
  • Subsequent to their television appearance, The Magic 5's net worth amplified to $15 million. Other startups introduced on the program mirroring The Magic 5's affirmative reception encompass Scrub Daddy and Bombas.
  • Overall, The Magic 5 shows the importance of thorough preparation and familiarization with meaningful metrics.
  • The Magic 5's future appears bright given Shark Tank's proven track record of elevating innovators, a legacy that continues developing.

The Magic 5 net worth before Shark Tank

Made by triathletes, The Magic 5 goggles flipped the script for those who can't find comfort in their swim goggles. Determined to transform swimming through innovative design, the founders pursued personalized swim eyewear that are comfortable to swim with.

The magic 5 pitch

Fresh from the Shark Tank depths, The Magic 5 rode in with pockets as empty as a drained pool. It was sheer determination and personal piggy banks that they were able to take off. And thanks to the Internet, they were able to sell and raise a little.

With competitors floundering, they set out to redefine the swimming scene, armed with innovation and a splash of daring.


The Sharks' initial reactions to The Magic 5

When The Magic 5 appeared on Shark Tank hoping to secure an investment, their uniquely designed swim goggles caught the attention of the investors. Indeed, the Sharks saw potential to revolutionize customer satisfaction.

Yet, doubts lingered like stubborn pool algae. Would this fledgling company sink or swim in the competitive waters? The Sharks circled, questioning if The Magic 5 had what it takes to make a big splash with a business model as streamlined as their goggles.

The Magic 5's pitch on Shark Tank

With customization fit for Aquaman himself, they promised comfort and efficiency for swimmers of all stripes, from leisurely lappers to Olympic hopefuls. But wait, there's more!

They showed the Sharks how their product would make swimming more comfortable and efficient, hence helping both the swimmers hanging out and those doing it competitively . 

The Sharks also saw how easy it is to personalize the product — using an app to take a 3D image of their face and have a custom made pair sent to them.

Negotiations and deals made on Shark Tank

After the pitch, The Magic 5 engaged in intense negotiations with the Sharks to secure an investment deal. The Sharks were obviously impressed with the company’s product, and they clearly knew it had a massive potential for disrupting the swimwear industry. 

investors

Finally, the Magic 5 founders struck a deal with four Sharks, namely:

  • Mark Cuban: $500,000 for a 7.5% equity
  • Kevin O’Leary and Nirav: $500,000 for 5% equity
  • Robert Herjavec: $1,000,000 for 6.5% equity

The founders ultimately took Robert’s deal. More than the money, his vast expertise in product development and marketing is valuable at that specific moment. Meanwhile, behind the scenes, Mark Cuban closed in the deal .

The impact of Shark Tank on The Magic 5's sales

After their appearance on Shark Tank , there was an increase in sales within the company. For instance, in the short term, the company's web traffic surged immediately after the episode. This contributed to an increase in the number of online orders placed.

And of course, for long-term success, Shark Tank helped increase their sales through the visibility and exposure. The company gained access to thousands of prospects through Shark Tank, most of whom would not have come across the company if not for the show . 

Additionally, the fact that the link was endorsed by the Sharks increased the credibility and trust of the company.

The Magic 5: Net worth before and after Shark Tank

The Magic 5’s net worth significantly increased after the group appeared on Shark Tank. In fact, as of 2024, the company's net worth is estimated to be $15 million.

Investments from Robert Herjavec and Mark Cuban particularly enabled the company to diversify its offerings and scope of operation which translated to revenue and valuation.

Swim glass

The high levels of performance and valuation have attracted more investors and partners resulting in The Magic5’s augmented net worth.

The success stories of other Shark Tank startups

The Magic 5 story is just one of several amazing stories that came from Shark Tank. There are several companies over the years that the world was introduced to through the show, and those companies achieved worldwide success:

  • Scrub Daddy. Produces a smiley-faced sponge that has become a household name and has a pivotal position in generating hundreds of millions in revenue. It first appeared on Shark Tank in 2012 and bagged an investment contract with Lori Greiner.
  • Ring. The smart doorbell manufacturer who was on the show in 2013 and signed a profitable deal with Richard Branson. It was later bought by Amazon for more than 1 billion dollars in 2018. 
  • Bombas. Gives a pair of socks to the needy for every one bought and announced a pact with Fubu founder Daymond John. Then their market exploded; they have since transferred many million pairs of socks to the homeless.

Lessons learned from The Magic 5's Shark Tank experience

The Magic 5's experience on Shark Tank offers several key takeaways for entrepreneurs looking to pitch their ideas to investors:

the magic 5
  • Unique and innovative product. Magic 5 was the most distinct item available during the Shark Tank display. That uniqueness is what quickly draw the interest of investors and establish a proper identity for the organization.
  • Stay well-prepared. The Sharks are known for asking difficult questions and pushing entrepreneurs to the edge. The investors push with probing queries testing knowledge's depths. Readiness with insightful, multi-faceted replies shows forethought for uncertainties sure to come.
  • Choosing the best investor. The consideration of all possible variants helped the Magic 5 choose between the Sharks’ and maintain their choice to attract Robert Herjavec and Mark Cuban. It helps in shaping the further cooperation with an investor who sees your business in the same way and is willing to help you with your business plan to meet the key goals.

Clearly, The Magic 5 net worth before and after Shark Tank is a testament of how novel businesses should be done.

The future of The Magic 5 and Shark Tank's legacy

Since the appearance of The Magic 5 on Shark Tank, the company has grown and expanded through the following:

  • Launched new products
  • Expanded their distribution channels
  • Developed a loyal customer base
  • Committed to more innovations in the swimwear industry and to ensuring that swimmers receive personalized and comfortable goggles. 
the magic 5 shark tank

With that, Shark Tank isn't just a TV show—it's a launchpad for dreams. From idea to IPO, it's the ultimate rags-to-riches saga, showcasing startups as they navigate the choppy waters of entrepreneurship.

The Magic 5 net worth before and after Shark Tank proved its bite was as potent as its bark. Shark Tank has enabled them to support their goals and vision, get funding, and acquire the crucial machine that accelerated their success. 

FAQs

What is The Magic 5?

The Magic 5 is a company that offers a new 3D scanning technology experience to every swimming goggle consumer that seeks a customized size.

What is the net worth of The Magic 5?

The net worth of The Magic 5 stands at approximately $15 million.

What is Shark Tank?

Shark tank is the American show TV show where entrepreneurs come for “investor sharks,” the contestants share their business ideas, and if any of the sharks like them, they can invest and guide the contestants.

Did The Magic 5 appear on Shark Tank?

Yes, The Magic 5 was on Shark Tank on 2021.

What was the outcome of The Magic 5's appearance on Shark Tank?

The Magic 5 signed a $1,000,000 contract the shark Robert Herjavec for 6.5% of the company in total.

How did appearing on Shark Tank affect The Magic 5's net worth?

After the presentation at Shark Tank, net worth of The Magic 5 increased from under a million offer to $15,000,000 after Robert Herjavec called Mark Cuban to come and invest together.

About the author 

Peter Keszegh

Most people write this part in the third person but I won't. You're at the right place if you want to start or grow your online business. When I'm not busy scaling up my own or other people' businesses, you'll find me trying out new things and discovering new places. Connect with me on Facebook, just let me know how I can help.

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