Rounder Bum, an underwear brand for men, came onto Season 9 of
Shark Tank Rounder Bum Update
- Entrepreneurs: Jonathan Diersing
- Business: Underwear for Men
- Ask: $150,000 for 10% equity
- Result: $150,000 for 5% equity plus $2 dollar royalty until 2X is returned
- Sharks: Kevin O’Leary
Jonathan Diersing told the sharks that his business had only been running for a short while and had already reached $1 million in gross revenue from when the website launched. Almost all of the company’s sales come from the website or through Amazon, according to Jonathan.
Daymond John decided to drop out after hearing all of the valuable information from Jonathan. He felt like another company he invested in could be a conflict of interest in addition to the fact that he wasn’t very interested in making a deal in the first place. Kevin O’Leary was interested in making an offer of $150,000 in exchange for 5% equity plus a $2 royalty on every unit sold until he doubled his money.
Mark Cuban and Lori Greiner were not interested in making an offer so they dropped out as well. Robert Herjavec made an offer of $150,000 in exchange for 20% equity. Jonathan told Robert that the equity was too much and had to accept Kevin’s offer instead.
Now that we know how the negotiations ended between Jonathan and the sharks, let’s get a Rounder Bum update to see what happened after the show aired. The company’s sales skyrocketed to more than $2.5 million in annual revenue and have earned a placement in the top 5 on Amazon’s underwear section for men. The deal with Kevin O’Leary was finalized and continues to have positive benefits for Jonathan’s company to this day.
You can find the other company updates from Season 9 Episode 18 here:
Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from