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Shark Tank Spotlight
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Bombas is a brand that has become synonymous with comfort, quality, and social impact. Known for their innovative socks and commitment to giving back, Bombas Shark Tank has captured the hearts of consumers and investors alike.
Bombas was founded in 2013 by David Heath and Randy Goldberg. The inspiration for the company came from a simple statistic: socks are the most requested clothing item in homeless shelters. This insight led the founders to create a company that not only provided high-quality socks but also addressed a significant social issue. For every pair of socks sold, Bombas donates a pair to someone in need.
The founders spent two years researching and developing their product to ensure it was the best on the market. Bombas socks feature several innovative design elements, including a honeycomb arch support system, a seamless toe, and extra cushioning. These features set Bombas apart from other sock brands and contributed to their initial success.
Bombas appeared on Season 6 of Shark Tank in 2014. David and Randy entered the tank seeking $200,000 in exchange for a 5% equity stake in their company. They impressed the sharks with their mission-driven business model and the quality of their product.
Daymond John, known for his expertise in the fashion industry, saw the potential in Bombas and offered $200,000 for a 17.5% stake. After some negotiation, they settled on $200,000 for a 17.5% stake with a commitment to reduce his equity to 7.5% once the initial investment was recouped. This deal provided Bombas with the capital and mentorship needed to scale their business.
Season and Episode |
Season 6, Episode 1 |
Air Date |
September 26, 2014 |
Entrepreneurs |
David Heath and Randy Goldberg |
Product |
Athletic-leisure socks with a focus on comfort, performance, and design. They also have a social mission to donate socks to those in need. |
Investment Sought |
$200,000 |
Equity Offered |
5% |
Initial Sales |
$450,000 |
Retail Plans |
Expand its product line and increase its market presence, leveraging its social mission as a key differentiator. |
Shark Reactions |
Impressed by the company’s sales figures and social mission. Appreciated the quality of the product and the business model. |
Bidding War |
Interest from multiple sharks, but Daymond John, known for his expertise in the fashion industry, showed particular interest. |
Final Deal |
Daymond John offered $200,000 for 17.5% equity. |
*After the filming of a Shark Tank episode, investments are subject to thorough audits and evaluations. During this time period, the terms of the investment can be altered or canceled by either party. As a result, the deals presented on the show may not always come to fruition for various reasons. This site does not guarantee the accuracy of any final investment figures.
After their appearance on Shark Tank, Bombas experienced exponential growth. The exposure from the show, combined with their unique value proposition, helped them reach a wider audience. Bombas expanded their product line to include a variety of sock styles and colors, and eventually ventured into other apparel items like T-shirts.
Bombas has remained committed to their mission of helping those in need. As of 2023, Bombas has donated over 50 million items to homeless shelters across the United States. Their one-for-one donation model has inspired other companies to adopt similar practices, amplifying their impact on the community.
Bombas has built a loyal customer base by consistently delivering high-quality products and maintaining transparency about their social impact. Their customers appreciate the comfort and durability of Bombas socks, as well as the company’s commitment to giving back.
Ring’s success has also spurred competition in the smart home security market. Companies like Nest, Arlo, and SimpliSafe have developed similar products, driving innovation and offering consumers a wider range of options. This competition has led to advancements in technology and more affordable pricing, benefiting consumers. Additionally, Ring’s influence has extended beyond doorbells, inspiring the development of other smart security devices such as cameras, alarms, and lighting systems.
Bombas is a prime example of how a mission-driven business can achieve commercial success while making a positive impact on society. From their humble beginnings to their Shark Tank triumph and beyond, Bombas has proven that a commitment to quality and social good can resonate with consumers and drive growth. As they continue to expand and innovate, Bombas is poised to remain a leader in the apparel industry and a force for positive change.
