The story of Human Bobber, a magnificent innovative product that first garnered worldwide exposure from Shark Tank, and exploded into a company with over $900,000 in yearly income is truly extraordinary. A passion for all things water, paired with tireless determination to innovate, their journey is a tale of entrepreneurial success.
| Category | Details |
|---|---|
| Human Bobber | |
| Justin Rietema and Doug Schultz | |
| 2011 | |
| Fort Lauderdale, Florida | |
| $4 million | |
| Approximately $950,000 | |
| Season 9, Episode 5 (October 2017) | |
| $120,000 for 33.3% equity (Kevin O’Leary), later included Mark Cuban | |
| Personal flotation devices (PFDs) for water safety and recreation | |
| Official website and Amazon store | |
| Twitter: 87, Facebook: 12K, Instagram: 2,477 | |
| Active business with ongoing product development |
We’ll be evaluating their current net worth and sharing key takeaways for budding entrepreneurs along the way.
The Birth of Human Bobber
Like every great business there is a story behind Human Bobber. Let’s dive into how this innovative company was born.
Founders’ Background
A former landscape architect, Justin Rietema, and Doug Schultz formed Human Bobber, which is still a relatively new concept. The idea for their business was germinated from their common passions for water sports and the outdoors. Passionate about lakes, rivers, and oceans, they frequently discussed how to improve the water experience.
Justin and Doug had no background in product design, but wanted to build something of significance. Their background as architects has allowed them to work in a very different space — one that merges creativity with practical, solution-oriented skills.
The Idea Behind Human Bobber
Human Bobber came into being by a common yet invaluable observation: we still require a flotation device that serves multiple purposes while also fun to play on. The industry had prioritized safety with traditional life jackets, but these weren’t multipurpose or comfortable.
Justin and Doug pictured a product that was a bridge between fun and safety. After six years of development, infinite prototypes and overcoming many obstacles, they launched Human Bobber. Their flagship products — the Scuttlebutt and Bottoms Up — were made to serve as life jackets, floating chairs and even kayak seats.
Their journey wasn’t easy. The duo confronted challenges from technical glitches in product design to obtaining materials that met Coast Guard safety regulations. Despite these challenges they pushed ahead as they believed in the potential of their idea.
The Shark Tank Experience
So even though the founders had worked hard and really persevered up to this point, it was their presence in the Shark Tank that really launched Human Bobber into the stratosphere.”
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The Pitch
Justin and Doug made a pitch on Shark Tank in 2017, asking for $120,000 for 15% equity in their company. Their presentation was both enjoyable and interesting. They demonstrated the versatility of their products, showing how their flotation devices could be used as a life jacket, a floating chair, and even a cozy kayak seat.
This caught the attention of the sharks. The founders’ ability to explain how their products worked and why they might appeal to the market left a positive impression. It was more than a pitch for a product—one that would prove to be a perfect fit for Waterful, it had the potential to help Human Bobber meet a need that is still not filled in the water sports industry.
The Deal
Through a bit of aggressive negotiating, Human Bobber even managed to partner up with Kevin O’Leary, who offered $120,000 for 33.3% equity. The deal included the Drop-Out and Mark Cuban providing marketing services for 10% equity. This increased the total equity forfeited to 43.3%.
Although this might appear like a large chunk, the deal also boosted their business valuation to something around $800,000 — a huge milestone for the company. Not only did Human Bobber gain funding from two sharks, but they also got some much-needed mentorship and visibility.
Why Human Bobber Different Than Others?
Innovation is a key differentiator in a competitive space like water sports, and Human Bobber is hitting the market with a practical product that appeals to a broad audience.
Product Innovation
The secret of Human Bobber’s success lies in its multifunctional product design. The Scuttlebutt and Bottoms Up are their flagship products, built with safety and comfort in mind.
- Scuttlebutt: Flotation device and floating chair.
- Bottoms Up: Used as a life jacket or a kayak seat.
These products are both Coast Guard-approved, which gives customers extra trust and credibility. This approval guarantees that their products hold up to demanding safety standards, making them a dependable option for those who love being on the water.
Target Market and Appeal
Products from Human Bobber appeal to a wide demographic, suburbia to urban dwellers, such as:
- Boaters
- Fishermen
- Kayakers
- Water sports enthusiasts
They are distinguished by their power to combine safety with recreation. Unlike life Jackets that are strictly functional human bobber gives a whole new look into your water experience. Focusing on both products and services in parallel allowed them to grow into a market segment of their own.
Post-Shark Tank Growth
It was the start of a new chapter for Human Bobber, the Shark Tank deal. The company grew rapidly on the back of more funding and exposure.
Revenue Milestones
Sales were modest — about $63,000 over three years — before Animal Bobber appeared on Shark Tank. But the sharks provided exposure and mentorship that helped them explode. The company so far rakes in an eye-watering $900,000 in yearly income, an impressive gain in market share.
Market Expansion
Human Bobber didn’t just limit this down to the US market. They went global, partnering with water sports instructors, rental agencies, and distributors around the globe. This broad reach has been a major contributor to their revenue expansion and brand recognition.
Product Line Diversification
Human Bobber has been innovating since Shark Tank. They’ve launched new products and updates to address the changing needs of their customers. By paying attention to user feedback, they’ve kept their products relevant and competitive.
Current Net Worth Analysis
To understand how Human Bobber’s growth is affecting their bottom line, it’s important to take a closer look at their valuation and what they are currently worth.
Valuation At The Time Of Shark Tank Deal
Justin and Doug pitched their company on Shark Tank with an $800,000 valuation for the business (determined by the equity they offered). This was a promising start, but its subsequent growth has made it far more valuable.
Estimated Net Worth Today
Considering its significant market presence and annual revenue of $900,000, Human Bobber’s net worth must have crossed an annual milestone, with estimates of its total worth running around the $1 million mark and above. Its valuation relates to the value of its brands, international presence and product innovation.
Factors Driving Their Success
Human Bobber has a few major factors that have contributed to its growth:
- Strategic Ventures: Partnerships with Mark Cuban and Kevin O’Leary secured capital and marketing support
- Product Differentiation : Their innovative, multi-use designs differentiate them from competitors.
- Good Marketing: By using Shark Tank exposure and utilizing social media they have reached a larger market.
- Lessons for Entrepreneurs
This success story of Human Bobber will definitely motivate every aspirant entrepreneur. Here are some key takeaways:
Importance of Innovation
At the very heart of Human Bobber’s journey lies innovation. They identified a niche problem, and offered a unique solution. A better way to register your uniqueness in crowded markets as an entrepreneur is to solve real problems.
Exploitational Opportunities Like Shark Tank
The visibility and funding Human Bobber needed to scale came when they appeared on Shark Tank. These platforms can be a game changer for startups, as they provide not only money, but also mentorship and exposure.
Making strategic moves after getting the investment
Human Bobber’s expansion to overseas markets, as well as their product diversification, serves as a stellar case study of how to scale strategically. Insist upon the slow burn, not the high flash, for sustainable growth.
FAQ: Frequently Asked Questions (FAQs)
FAQ 1: What is Human Bobber’s core offering?
The company’s flagship products are the Scuttlebutt and Bottoms Up, multifunctional flotation devices that can be used as life jackets, floating chairs or kayak seats.
FAQ 2: What percentage of equity did they give away on Shark Tank?
Justin and Doug relinquished a total of 43.3% equity between Kevin O’Leary and Mark Cuban.
FAQ 3: Is Human Bobber doing well nowadays?
Current estimates show Human Bobber has around $900,000 in revenue for the last year.
Conclusion
The tale of Human Bobber is one of innovation, tenacity, and smart plant. They started from nothing, closed a game-changing deal on Shark Tank, and built a substantial business with a significant market presence — Justin Rietema and Doug Schultz.
The path they took is a source of inspiration for entrepreneurs around the globe, showing that with the right combination of creativity and resolve, a dream can become a reality. So to all the aspiring business owners and water sports enthusiasts alike, the success story of Human Bobber goes to show, dive on in and keep on floating towards your goal!
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