Slyde Handboards Update | Shark Tank Season 7
Handboarders have a lot of fun around the world, especially as this is an easier sport than surfing. Steve Watts and Angela Ferendo have insider knowledge of what drives handboarders and what they want to see in these products. What will the sharks do with their handboards on
Shark Tank Slyde Handboards Update
- Entrepreneurs: Steve Watts and Angela Ferendo
- Business: Handboards
- Ask: $200,000 for 15% equity
- Result: $200,000 for 22% equity
- Shark: Mark Cuban and Ashton Kutcher
Angela and Steve entered
With super advanced construction, this handboard has an ultra-buoyant foam core and an extra soft and sticky grip top skin with a buttery slick bottom that will have you Slyding down any wave like a pro, no matter your skill level.
The boards currently retail between $169 and $199, and Slyde Handboards had earned over $356,000 in sales at the time of the pitch.
The previous year numbers had dipped slightly, with $159,000 in sales. For the current year, the couple had projected sales of $295,000. Robert Herjavec discussed his prior experience with investments in handboards and claimed it was a slow model. He was interested in finding out how Steve and Angela would market their boards.
The couple stated that for big retailers, they would need to educate the consumer base about handboards. Despite the custom-made board, Lori Greiner was the first shark out, stating that she wasn’t the right fit for the company.
Kevin O’Leary offered to marry Steve and Angela in the tank, but then went out of the potential investment. Mark Cuban wondered who the target audience was, and Angela clarified they were looking at enthusiasts between 13-16 years old and those between 20 and 30. Mark considered this too narrow a scope.
Ashton Kutcher expressed interest, but also admitted he was not familiar with this kind of product. He offered to go in on a joint deal with Mark, who immediately agreed. The two sharks offered Angela and Steve $200,000 for 25% equity.
Angela and Steve were reluctant to accept such a high stake in their company and go above 20%, but Mark pointed out that the 5% difference would ultimately not make a huge difference.
Robert seemed hesitant in offering a deal, which piqued Kevin’s interest once more. He reiterated that he would marry them right there and offered $200,000 for 15%.
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Robert also offered $200,000 for 15%. Angela countered by asking Mark and Ashton, who’d be much more fitting for the brand, if they would go for 20% equity.
Mark suggested they would close the deal for 22%. After taking a moment to talk it through, Angela and Steve accepted the deal with Mark and Ashton. Keep reading our Slyde Handboards update to find out!
According to the Slyde Handboards update in Season 10, the company enjoyed great success after
Interested buyers can purchase a board on the Slyde Handboards website and on Amazon.
If you are interested in checking out the other products featured in Season 7 Episode 24, follow the links below to see how other companies did in this episode.
For even more on companies and products, be sure to stop by our Season 7 Products Page!
Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!