PaddleSmash Net Worth 2024 Update & Their Shark Tank Pitch!

Shark Tank PaddleSmash, an outdoor paddle game founded by Scott Brown and Tim Swindle, telecasted Shark Tank USA in 2024 on Season 15. The founders were seeking $250,000 for 10% equity for their business. However, they secured a deal with Robert Herjavec and Mark Cuban, $250,000 for 20% equity. In this article, we will explore PaddleSmash’s net worth in 2024, its Shark Tank pitch summary, and more.

PaddleSmash Net Worth

As of July 2024, PaddleSmash’s net worth is $3 million, and its annual revenue was $2 million at the end of 2023. 

PaddleSmash Net Worth Timeline

Shark Tank PaddleSmash Update from Season 15 

Scott Brown and Tim Swindle went on Shark Tank in Season 15 with their company, Paddlesmash. They asked $250,000 in exchange for 10% of their business, which values it at $2.5 million. 

Paddlesmash is a combination of Spikeball and Pickleball. It can be played on the beach or in the garden. The game is portable and simple to set up and take down, making it great for exercise and fun outdoor entertainment. 

Players use paddles to hit the ball within three touches. They bump, set, and smash the ball onto the court, which you place on a flat surface. A team scores points only if the other team can’t return the ball over the net or if it lands on the other side. It’s best played with four people but can be played with two or three. 

Barbara Corcoran asked about the average age of PaddleSmash players to understand the market and target audience. The designers said the game is excellent for kids, teens, and families, which is promising for sales. 

Lori Greiner asked the guys to share their story. Scott explained that Joe Bingham, a structural engineer and father of seven, invented the game. Scott owns a chain of toy stores, and Tim invents board games. They became friends when Scott started selling one of Tim’s games in his store. Later, they met Joe and decided to get license the rights to his game. 

Then, Barbara Corcoran asked about the costs of manufacturing and retail. The entrepreneurs said Paddlesmash sells for $200 and costs $55. Also, the initial founder, Joe, gets a 5% royalty on net sales..

At the time of filming, the company was nine months old and had sold $700,000 worth of products. They sell directly to consumers on their website and through Dick’s Sporting Goods and other retailers. Despite this success, they need a shark to help with inventory and growth through social media marketing. Kevin O’Leary was the first shark to speak, offering $250,000 for 20% equity.

Next, Robert Herjavec mentioned that he and Mark Cuban own a pickleball team. They teamed up to offer $250,000 for 20% equity, the same as Kevin’s offer but with two sharks. Tim countered with $500,000 for 20% equity, but Robert and Mark declined it. At the moment, Kevin was involved in the deal again and reduced his equity to 15%.

Lori reminded the entrepreneurs that Kevin offered 15% equity. Barbara then said Kevin wasn’t the right shark for them. Scott asked Robert and Mark to lower their equity to 15%, but they refused. Finally, the duo accepted Robert and Mark’s initial offer, valuing the company at $1.25 million.

Summary of the Sharks’ Deal List!

What Happened to PaddleSmash after Shark Tank?

As of July 2024, PaddleSmash is still in business. Moreover, the Shark Tank deal helped raise PaddleSmash’s profile. Consequently, sales soared after the show. Additionally, the financing helped expand production and distribution.

They used social media, internet ads, brochures, and SMS marketing. With the Sharks’ help, PaddleSmash may expand or improve its product line based on feedback and demand. They might introduce new nets, balls, and paddles for different playing styles and venues. 

You can buy PaddleSmash on their website with a 15% Shark Tank Special discount. It is also available on Amazon and in stores like Dick’s Sporting Goods, Scheels, and Academy Sports + Outdoors. Furthermore, PaddleSmash has been featured in Today, Forbes, WSJ, The Dink, and Good Morning America. Even though they have a small follower count on Instagram and Twitter, the demand for the game has been rising, especially since their Shark Tank pitch.

PaddleSmash Founders

Joe Bingham, a structural engineer and father of seven from Pleasant View, Utah, faced a challenge entertaining his large family. After several years of tinkering in his backyard, he created a game combining Spikeball and Pickleball to keep his kids active and entertained.  Scott Brown and Tim Swindle took Joe’s promising concept and turned it into a commercial product in 2022.

When Tim and Scott discovered PaddleSmash, they were immediately impressed. They saw its vast potential and teamed up with Joe to refine the game for the public. They refined Joe’s prototype and used their industry connections to promote PaddleSmash in the gaming and toy industries. Their dedication and knowledge played a vital role in shaping PaddleSmash into a successful product. They focused on enhancing the game’s durability, making it more portable, and using effective marketing strategies. 

Scott graduated from Brigham Young University and co-founded Marbles: The Brain Store. Later, he held leadership roles at Spin Master. Tim, who graduated from Saint Ignatius College Prep and the University of Illinois Urbana-Champaign, worked at various companies before co-founding Glacier Games with Scott. 

Tim Swindle focuses on board games, while Scott Brown specializes in retail. Their expertise helped them market PaddleSmash effectively, tapping into the demand for family-friendly games. Also, Scott and Tim have over 25 years of experience in the toy and game industry.

PaddleSmash Achievements and Awards

Conclusion

Shark Tank is a TV show that showcases different business ideas and helps them succeed. PaddleSmash was one of the ventures featured on the show. They made a deal with Robert Herjavec and Mark Cuban, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.