The Magic 5 Custom Goggles Update | Shark Tank Season 13

Bo Haaber and his nephew, Rasmus Barfred, were triathletes who had struggled for years with goggles that leaked and caused discomfort. To solve the problem, they created The Magic 5, a custom scanning app that used technology to design swimming goggles that perfectly fit each face. Will the sharks swim right into a deal with The Magic 5? Keep reading our Shark Tank Magic 5 update and pitch recap to find out.

If you’re short on time, here’s a quick overview of what happened to The Magic 5 after Shark Tank.

Bo and Rasmus entered Shark Tank Season 13, seeking $500,000 for 2.5% equity in their custom swim goggles. After their pitch, they walked away with a deal from Robert Herjavec for $1 million for 6.5% equity.

In terms of The Magic 5 update, the company expanded operations to Copenhagen in 2023, reducing fulfillment times for European customers from around 20 days to 5–7 days. Further, by July 2024, The Magic 5 reportedly secured a U.S. patent for its proprietary fitting technology and partnered with Oceanman to expand its global reach.

Shark:	Result:
Robert Herjavec	Accepted deal for $1 million for 6.5% equity
Kevin O’Leary and Nirav Tolia	$500,000 for 5% equity, plus a $3/unit royalty until $1.5 million is repaid
Lori Greiner	$500,000 for 6% equity
Mark Cuban	$500,000 for 7.5% equity

Shark Tank Magic 5 Pitch

• Entrepreneurs: Bo Haaber and Rasmus Barfred
• Business: Custom swim goggles
• Ask: $500,000 for 2.5% equity
• Result: $1 million for 6.5% equity
• Shark: Robert Herjavec

Bo and Rasmus opened their pitch by explaining the constant frustrations swimmers face with conventional goggles.

Most goggles leak, press uncomfortably on the face, and never seem to fit right. Their solution was simple but powerful: custom goggles designed to match the exact shape of each swimmer’s face.

The idea made sense. If millions of people wore prescription glasses tailored to them, why shouldn’t swimmers have access to custom-fit goggles as well?

With this thought, the pair introduced The Magic 5, a sportswear company built on technology and precision design.

The business operated on a direct-to-consumer model. Customers downloaded an app, scanned their face with a selfie-like process, and submitted the data.

Using that scan, The Magic 5 produced individually fitted goggles at its Charlotte, North Carolina, facility. Orders are shipped directly to buyers, often within days.

Meanwhile, the company had already proven its demand. Back in 2017, they launched a Kickstarter campaign that raised over $100,000.

The sharks admired the product but were shocked by the numbers. A $20 million valuation with so little equity on the table was almost unheard of.

Still, Bo and Rasmus backed up their pitch with impressive growth. Since opening in 2018, they have served 40,000 customers, including elite athletes.

Lifetime revenue had climbed to $3 million, with $1.5 million earned in just the first half of 2021.

When asked about costs, they explained that the goggles sold for $55 at retail, cost $14 to manufacture, and required $24 to acquire a customer.

With the business model laid out, the stage was set for a bidding war. Mark Cuban jumped in first, offering the requested $500,000 but asking for 7.5% equity. 

Before Bo and Rasmus could respond, Kevin O’Leary and guest shark Nirav Tolia teamed up with an offer of $500,000 for 5% equity plus a $3 royalty on every unit until they recouped $1.5 million.

They emphasized their combined technology and marketing expertise.

Robert Herjavec followed with a cleaner deal of $500,000 for 5% equity with no royalty. He added that he knew the swimming market well because his daughter had been a swimmer for years.

Lori Greiner saw the product as nearly market-ready. She believed it only needed a push to “blitz the market” and wanted to partner with either Robert or Mark. Mark refused to join, but Robert was open.

As they debated how to split equity, Kevin revised his offer with Nirav, reducing it to 4% equity while keeping the royalty.

Sensing the pressure, Lori and Robert raised their joint offer to $500,000 for 6% equity. 

At this point, the entrepreneurs were overwhelmed. Each deal had its strengths, and it wasn’t clear which shark would be the best partner.

In the end, Robert raised the stakes with a bold move. He offered a solo deal of $1 million for 6.5% equity.

Bo and Rasmus accepted without hesitation, sealing one of the most dramatic bidding wars of the season.

It was a defining moment for The Magic 5. The only question that remained was whether Robert would ever regret making such a massive investment. Keep reading our Magic 5 update to find out.

Shark Tank The Magic 5 Update

We were able to catch up with Rasmus for an exclusive The Magic 5 update. He told us, “We’re proud that our product is represented through Olympic swimmers and triathletes. In July 2023, the goggles were worn at the World Championship of Swimming.”

Further, he shared that they’ve been able to open up production and operations in Copenhagen, Denmark. This allows them to “service our customers quicker, taking lead times from ~20 days fulfillment for European customers down to 5-7 days.

A little over a year since speaking with Rasmus, and we decided to check up on them for The Magic 5 update.

Here’s what we were able to gather;

First, we could not find any solid proof that suggests Robert invested money in the company post-show.

However, we did find out that after the episode aired,  Mark Cuban offered to join Robert in the deal.

But what we do not have on good authority is whether that whole arrangement with the sharks eventually materialized or went south after due diligence.

Second, we have some good news, though, on the night their episode was shown, their website traffic jumped by 1000%.

In the first 24 hours alone, sales brought in $45,000 in revenue. Throughout that year alone, The Magic 5 had already sold over 85,000 pairs of custom goggles, with total sales reaching $4.1 million.

Sales in 2023 surpassed $5 million, and they were projecting another 20–25% increase in 2024.

Third, by April 2024, The Magic 5 partnered with Oceanman, a global open-water swimming community, to sell goggles through Oceanman’s online store.

Then, in July 2024, the company secured a patent for its proprietary fitting technology, protecting the unique process that sets its goggles apart.

The brand also invested heavily in digital marketing after Shark Tank. A case study showed that their paid search campaigns generated over 10 million impressions, $278,000 in revenue, and a 7× return on ad spend.

When we visited their official website, the company highlighted how customers use their AI-based Optimal Fitting Technology.

The company offers a Fit Guarantee that promises either a perfect fit or a refund. Their products now sell for around $64 to $72, depending on the style.

Follow their latest news and updates on Instagram.

The future looks very bright for Bo and Rasmus! If we get more news on The Magic 5 update, we will let you know! 

Before you go, be sure to check out more on Shark Tank Season 13 Episode 4:

• Tabby Dating App Update
• SoaPen Update
• 54 Thrones Beauty Butter Update

For more on Shark Tank Season 13, be sure to check out our Season 13 products page.