Bombas Update | Shark Tank Season 6

Bombas came onto Shark Tank in Season 6 during their ninth month of operation.  They had generated more than $400,000 in revenue during the opening nine months of business and were projecting more than a million by the end of the year. Their comfortable athletic socks are supposed to be more convenient for athletes than any other type of sock on the market. David Heath and Randy Goldberg came onto Shark Tank during Season 6 to pitch their company’s idea, let’s see how they did in the Shark Tank before we get our Bombas update.

Shark Tank Bombas Update

• Entrepreneurs: David Heath and Randy Goldberg
• Business: Athletic Socks
• Ask: $200,000 for 5% equity
• Result: $200,000 for 17.5% equity
• Sharks: Daymond John

Bombas has a mission of donating a pair of socks to homeless shelters and groups of people that are in need, for every pair of socks that is sold.  The current target price point is just $9. The socks can effectively be sold at this price point, while also having all of the comfortable design features that help this brand stand out from other generic athletic sport sock brands. 

Bombas Women's Ankle Socks (Violet/Fuchsia, Medium)

Extra Long Staple Cotton keeps your feet warm in the winter and cool in the summer, and their moisture-wicking properties ensure they're dry and comfortable year-round. Bombas socks are known as the "Most Comfortable Socks in the History of Feet." Bombas Women's Originals Ankle Socks have a Seamless Toe, Blister Tab, Honeycomb Arch Support System and Extra Long Staple Cotton. Medium Size (US Shoe Size 8-10.5).

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Kevin O’Leary had major issues with the $4 million valuation that was imputed, so he dropped out of negotiations. Robert Herjavec had a different concern, primarily that the sock couldn’t survive as a standalone product.

Lori Greiner and Mark Cuban dropped out for similar reasons, leaving only Daymond John remaining after the first four sharks dropped out. David and Randy ultimately accepted a counteroffer from Daymond of $200,000 for 17.5% equity. 

Now that we know what happened on Shark Tank during this company’s pitch, let’s get a Bombas update to see what happened in the years since the company appeared on Season 6.

Bombas has done very well in the years since they appeared on Shark Tank, with exceptional revenue growth and an expanded catalog of products that include shirts, slippers, underwear, socks, and more.  With the expansion of their business since appearing on Shark Tank, the outlook is a good one for the next Bombas update. 

For more updates on companies from Shark Tank Season 6 Episode 1, be sure to check the links below:

• Sleeping Baby Update
• Hammer & Nails Update
• Amber Update

Additionally, don’t forget to check out our Season 6 products page too!