Bombas Socks Net Worth, Founders, Shark Tank Appearance, Latest Updates and Everything
Bombas Socks is an apparel brand that initially focused on selling socks and later expanded its production to include underwear and T-shirts. Bombas Socks donates a pair to those in need with every pair purchased.
Explore Bombas Sock’s net worth, shark tank appearance, and the latest updates.
Bombas Product Details |
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| Founders | Randy Goldberg, David Heath |
| Founded | 2013 |
| Company Name | Bombas |
| Location | New York City |
| Products | socks, t-shirts, underwear |
| Appearance in Shark Tank | September 2014 |
| Asked for Investment | $200,000 for 5% equity |
| Finalized the Deal | Yes, I accepted the deal for $200,000 for 17.5% equity |
| Sharks | Daymond John |
| Business Status | Active |
| Official Website | https://shop.bombas.com/ |
| Net Worth (2024) | Estimated $100 million |
Bombas Net Worth 2024
Bomba’s net worth is estimated at $100 million as of now. After appearing on Shark Tank, the company witnessed massive growth in its sales and surpassed $1 billion in sales. It became the first company to hit this milestone after appearing in Shark Tank.
Who are the founders of Bombas?
Randy Goldberg and David Heath are the founders of Bombas. David’s family is related to the field of business, which influenced him to pursue his education in entrepreneurship at Babson College. At the same time, Randy earned his graduation from Georgetown University’s business school.
The two of them were introduced to each other during a startup. When David was scrolling through Facebook in 2011, one post caught his eye, which stated that socks are the most demanded clothing item in homeless shelters. But his realization didn’t immediately turn into a business plan. After learning that companies like TOMS and Warby Parker donate their products to charity, David and Randy followed that business model.
They launched their business and donated a pair of socks for every pair they sold.
The Success Story of Bombas
Randy and David launched Bombas in 2013. The brand’s name is derived from the Latin word “bumble bee.” They raised funds for their startup through a crowdfunding campaign on Indiegogo. They initially asked for $15,000, but the campaign helped them earn over $140,000. A year later, the company raised $1 million through seed funding.
What is Bombas?
Bombass is an apparel brand mainly producing socks, t-shirts, and underwear.
Bombas Shark Tank Appearance
Randy and David appeared on Shark Tank in September 2014 to raise more capital for Bombas. They seek $200,000 for a 5% stake. The sharks were impressed with their business strategy, but because of the competitiveness in the sock industry, they were afraid to invest.
Daymond John liked the product and offered $200,000 for a 20% equity stake. Randy and David countered at $200,000 for 15% equity. Daymond finally provided $200,000 for a 17.5% stake and finance to their inventory.
Bombas After Shark Tank Appearance
After appearing on Shark Tank, Bombas earned $450,000 in revenue within nine months. It turned out to be Daymond’s best investment in the show, and he collaborated with David and Randy to strengthen its market strategy. It became one of the successful businesses that appeared on Shark Tank. They also donate 100 million items to those who need them.
Competitors of Bombas
Bombas became a successful business in the apparel brand. However, it faces competition from other brands that offer similar products. Some competitors include Blacksocks, Alanic, Corgi Socks, Bonds, and Gold Toe Brands.
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