THEMAGIC5 Featured on Shark Tank
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If you haven't seen it - in October 2021 we made a $1,000,000 deal with Mark Cuban and Robert Herjavec on Season 13 Episode 4 of ABC's Shark Tank.
Watch the segment below:
THEMAGIC5 On Shark Tank from THEMAGIC5 on Vimeo.
Inside Scoop
Read the inside scoop from co-founders Rasmus Barfred and Bo Haaber:
We flew into Los Angeles and were picked up and taken to SONY Production. I don’t know what we expected but it was way bigger than I thought it would be.
Shark Tank has a tradition of starting each pitch with a 90-second stare down with the sharks before the pitch, which felt like an eternity. The bell rang indicating that we should begin and we delivered our pitch and initial ask.
Robert Herjavec burst out in a big laugh after hearing the valuation and that’s how we started our counter. I built out a cascade of value propositions like the product, customer, and market size, and that’s how we got started with our negotiation.
After 5-10 minutes, Mark Cuban made the first offer, then all the sharks made their first offer. They were confident that we are good business people that know our business inside and out.
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Swimming or Tech?
The conversation changed from talking about THEMAGIC5 as a swimming goggle company to talking about THEMAGIC5 as a technology company. We felt that the experience among the group of sharks would be valuable as we develop as a company, as they have a deep understanding of how to take the technology into other markets outside of swimming.
They placed their second offers, and then they gave us an opportunity to discuss our counteroffer. Before we left to discuss it, Robert Herjavec stood up and offered 1 million dollars for 6.5 percent. We felt that it was a great deal and accepted.
55 minutes flew by.
Afterward, Mark Cuban reached out to Robert Herjavec and suggested that they share the deal 50/50. Now, we have two new investors in Robert and Marc, each with 3.25%.
There are very few deals with the valuation that THEMAGIC5 received. We had a great time sharing our love for THEMAGIC5 with the Sharks. We were also very excited to tell our families in Denmark that we will be on American Television.
Thanks for following along with our exciting news! We're excited for the future of THEMAGIC5 and grateful to our community for getting us to where we are today. Visit Shark Tank Recap for a full, in-depth account of how our appearance went! SharkTank Recap has in-depth recaps on countless episodes throughout the years.
Learn more on our story, and how we've grown over the years since we were founded.
Kind regards,
Rasmus Barfred and Bo Haaber
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Helpful?
I have 3 grandchildren ages 6, 9 and 12. They have regular school swimming and private individual lessons.
I have seen google marks on their faces after half hour training sessions.
my question is: do you have specially fitted swim googles for children or is it one size fits all regardless of facial makeup.
Thank you
Arun
I swim in the pool and open fresh and sea water too.
What are your recommendations?
I swim in the ocean and pools. are these for both
Peut-on avoir en français ?
CES lunettes sont elles mixtes? Cordialement
Somewhat retired but formerly extremely competitive Ironman athlete with 5 Kona finishes and several Age group titles, looking forward to getting these!
I bought 3 pairs and have not looked back. I have a high bridge and find it hard to find a good fit plus as you get older the marks left around the eyes can last hours after a swim. After six months I enjoy the fit every time, have no issues with comfort, leaks or fogging up and no more marks around the eyes. Worth the investment.
Just purchased these goggles and I am looking forward to trying them out. I have been out of swimming after “retiring” from competitive swimming 35 years ago! It is amazing how things have not changed, except these goggles, since my departure. I look forward to using the goggles when they arrive as you all are producing the product as I type!
12:34 A.M. Thanks to my Coach, Marty Hendrick’s SFTL (Swim Fort Lauderdale) email, just finished reading about THEMAGIC goggles. Was impressed after watching the deal made with The Shark Tank’s Mark Cuban and Robert Herjavec. Definitely will order two goggles after completing this comment.
Love the concept and would like to try. However, I noticed that the people featured using the goggles all appear to be of European ancestry. How well do the measurements work for Asian faces?
Would like to order a pair of these goggles. I swim in the ocean and a pool. Will they work in both?
That was cool. As a customer, I love my goggles and use them whenever I’m at the pool. These goggles are something that has been needed for some time. Thank you guys for bringing them to the masses.
This is super cool!