Human Bobber Floatation Device Update | Shark Tank Season 9

Boat owners often need extra life vests for guests, leading to clutter and inconvenience. Justin Rieterna and Doug Schultz’s Human Bobber solves this by being a Coast Guard-approved life vest that converts into a comfortable seat or even a floating chair-like device. They are seeking a shark investment to expand their market reach. Do the sharks feel they need a new life preserver during Season 9? Let’s find out in our Human Bobber update.

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

Justin Rieterna and Doug Schultz sought $120,000 for a 15% stake in Human Bobber. They received an offer from Kevin O’Leary and Mark Cuban for $120,000, with 33.3% going to Kevin and an additional 10% to Mark, who wouldn’t contribute financially.

In terms of a Human Bobber update, despite the deal falling through, the company is doing well. They’ve expanded their product line and boast annual revenue of over $900,000.

Shark	Result
Kevin O’Leary and Mark Cuban	Accepted offer of $120,000 for 33.3% equity to Kevin plus an additional 10% to Mark with no financial investment
Lori Greiner	No offer
Robert Herjavec	No offer
Daymond John	No offer

Shark Tank Human Bobber Pitch

• Entrepreneurs: Justin Rietema and Doug Schultz
• Business: Life jacket that doubles as a device for floating in the water
• Ask: $120,000 for 15% equity
• Result: $120,000 for 33.3% equity to Kevin plus an additional 10% to Mark with no financial investment
• Sharks: Kevin O’Leary and Mark Cuban

Dressed in their own product, Justin and Doug confidently enter Shark Tank, seeking a $120,000 investment in exchange for a 15% stake in Human Bobber. 

During the Human Bobber pitch, Justin provided some background, explaining that they started their company in 2011 in Fort Lauderdale, Florida. He then went on to highlight the unique aspect of their product: life preservers with a twist. 

Human Bobber offers unique versatility. It can be worn as a life vest for water sports activities or converted into a pair of shorts for a comfortable “sitting” experience in the water. 

This adaptability makes it ideal for various situations, from working on a boat to simply lounging or enjoying kayaking.

Essentially, it functions as a life jacket and water seat in one. Human Bobber offers a convenient and comfortable solution for water enthusiasts. 

Additionally, it eliminates the need for extra life vests for guests, as it can easily convert into a comfortable chair-like float or even be worn as a pair of shorts for a unique “Human Bobber” experience. 

This versatility simplifies boat management and enhances the overall boating experience.

Human Bobber is priced competitively at $65, comparable to other high-quality life vests. 

Additionally, they offer a “Beverage Bobber” for $18, a life vest with a built-in floating drink holder, providing a convenient solution for keeping your beverage afloat while enjoying the water. 

The products are readily available for purchase in various stores and on Amazon. 

At the end of the pitch, Justin provided a live demonstration, transforming his life vest into a comfortable seat to showcase its unique functionality visually. 

After handing out samples, Kevin O’Leary wants to know the numbers. The Scuttlebutt model costs $22.80 to produce and retails for $65, while the Bottoms Up vest costs $27.80 to make and sells for $90. 

Despite the healthy profit margins, their total sales have only reached $63,000 so far. 

Justin and Doug say this is due to the delay in obtaining Coast Guard certification, which they finally received in the year the episode was filmed (2016).

Kevin O’Leary is the first shark to make an offer of $120,000 for a 33.3% equity. 

Mark Cuban, on the other hand, saw the potential for collaboration between the Human Bobber and his paddle board company, Tower Paddle Boards.

However, he acknowledged that such a partnership would require significant effort.

At this point, the remaining sharks expressed their reservations about investing in Human Bobber. 

Lori Greiner felt the company was too small for her to get involved with. So she’s out.

Robert Herjavec simply wasn’t interested in the product. He’s also out. 

Daymond John, while acknowledging the product’s potential, believed the company was too small for him to leverage his extensive distribution network effectively. He dropped out as well.

Mark Cuban expressed interest in making a deal with the guys but not for the originally proposed 33%. He wants a 10% equity within Kevin O’Leary’s 33% share without contributing any of the $120,000 investment.

He offered to connect them with his paddle board company and feature their products on his exclusive Amazon page.

Kevin, however, insisted that “everyone pays,” meaning Mark would also need to contribute financially. 

He informed Justin and Doug that accepting Mark’s offer would require giving up an additional 10% of their company, bringing the total equity given away to 43%. 

Surprisingly, despite the significant dilution of their ownership, the entrepreneurs agreed to the deal.

Doug and Justin knew this was a crazy deal but went for it anyway. Was it a good choice? Find out in our Human Bobber update.

Shark Tank Human Bobber Update 

Despite agreeing to a deal with Mark and Kevin on Shark Tank, the deal ultimately fell through. 

Based on our Human Bobber update research, shortly after airing, the product became available in retailers like West Marine and Camping World. However, as of this writing, it is no longer available in those stores. 

Further, our Human Bobber update found that they have expanded their product line to include new products like a floating tote bag that doubles as a floating chair, floating cup holders, leak-proof tumblers, and more.

For Justin and Doug, Human Bobber continues to be a side hustle. They both maintain full-time jobs, Justin in engineering and Doug in landscape architecture. 

Despite not securing a Shark Tank deal, the company has achieved steady growth, with annual revenues reaching approximately $950,000.

While not an outstanding progress, we can say this Human Bobber update is a fair success.

You can find the other company updates from Season 9, Episode 5 here:

• Kwik-Hang Update
• Mirmir Update
• Ash and Anvil Update

For more updates, be sure to check out our Shark Tank Season 9 page.