Bombas founders, Randy Goldberg and David Heath, appeared on the reality show Shark Tank in 2014, attracting national attention for their sock start-up.
Since the Shark Tank appearance, Bombas has gradually grown into a global brand, largely thanks to its founders’ pledge to donate a pair of socks to charity for every item purchased.
Now, seven years after appearing on Shark Tank, Bombas is occupying national headlines once again.
According to new reports, the company has scored another big deal. Read more below.
NBA, NFL Stars Invest In Bombas
As reported by Yahoo! News, 45 athletes — including Dallas Cowboys Quarterback Dak Prescott and L.A. Lakers star Carmelo Anthony — recently invested in Bombas.
Prescott, Anthony and others invested through Patricof Co, a platform launched in 2018 by entrepreneur Mark Patricof. The platform will create an “advisory council” for NBA and NFL investors to facilitate quarterly meetings with company executives.
“The private equity funds see us as an attractive group to help win a deal or add value strategically post-close. It’s not like an influencer or marketing deal. These guys are treated as investors,” explained Patricof partner Matt Siegel.
It’s not just Lakers and Cowboys’ athletes that are investing in Bombas. Brooklyn Nets’ power forward Blake Griffin has also decided to invest in the company. Tennessee Titans quarterback Ryan Tannehill has done the same.
Tannehill — who began his NFL career in 2012 — made it clear in a statement hat Bombas’ philanthropic work was what pushed him over the edge to invest.
“Having the charitable aspect to it, combined with just being a well-run company that’s doing really well, made it a no-brainer for me to hop in,” he said.
The Shark Tank success story, which generated more than $100 million in revenue in 2019, hopes to attract more NFL and NBA stars.
“We are big believers in the power of brand advocates, and through this long-term partnership, we not only have an opportunity to outfit notable players within the sports world, but we are also connecting them directly with our mission to help those in need within the communities where they work and live,” Heath said.
“Through this endeavor, we see a ton of potential in reaching new audiences with our socks, T-shirts and underwear, while having the ability to amplify our commitment to the homeless community with the help of these athletes,” he added.
Other ‘Shark Tank’ Success Stories
Last year, the soft silicone baby spoon Baby Toon — which debuted on Shark Tank and attracted the attention of several prominent investors — entered into partnership with the baby product giant Munchkin, Inc.
According to Investopedia, a number of products that got their start on Shark Tank have become very successful.
Apart from Bombas and Baby Toon, the reusable super sponge Scrub Daddy, the Simply Fit Board, the Original Comfy blanket, the heat-free hair rollers Sleep Styler and several other products have generated millions in revenue since appearing on Shark Tank.