Bombas Update | Shark Tank Season 6
Bombas came onto
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.
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).
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
Bombas has done very well in the years since they appeared on
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