That was the narrative that the Sharks fell into.”īarfred and Haaber’s company, which began in 2017, is billed as the first and only system for custom-fitting swim goggles. Then down the line, we think we have an amazing technology that we could try to use in other products and industries, it could be other sports products. That is the target that we are running after. “We believe we can sell 5,000 goggles a day in Europe and in the U.S. “The next step is to sell more goggles,” Barfred said. The company has sold more than 55,000 goggles so far and has signed deals with notable swimmers and triathletes. We never dreamed of having them both, and are absolutely thrilled with the outcome.” Because at our core we are a technology company, we had hoped to work with either Mark or Robert. “Having Mark Cuban and Robert Herjavec invest in our company will help us grow and make the best strategic decisions for the future of THEMAGIC5.
“Shark Tank was an incredible experience, and we landed a deal beyond our expectations,” Haaber said. All of the Sharks bid on the product with some trying to combine with others to be part of the right deal. They quickly saw that the core is the technology and how we have developed it.”Īfter the on-air portion of the show ended, Mark Cuban joined Herjavec as a partner in the deal. “We had a range of speaking attacks where we were ready to jump in and respond. It was really something - making the pitch and seeing their reaction,” Rasmus Barfred told Swimming World. I don’t know what we expected, we were taken into this massive hangar and my feeling was like there were 50-100 people on set and it looked like a set from a Hollywood movie. Barfred and Haaber accepted the offer, one of the biggest in the history of the show. He said he couldn’t let the deal slip away and offered $1 million for a 6.5 percent equity share. His daughter is a competitive swimmer in Canada. Robert Herjavec had a personal connection to this product.
THEMAGIC5 founders Rasmus Barfred and Bo Haaber made the most of their appearance on Shark Tank, entering the studio for the TV show with big dreams and leaving with a big deal.īarfred and Haaber, who lead the company along with former Danish professional swimmer Niklas Hedegaard, asked the Sharks for a $500,000 investment for 2.5 percent equity to open the segment, but after the duo explained that their robotics technology that creates custom-fitted swimming goggles could be applied to other types of sportswear, the Sharks were sold and began bidding on the investment opportunity.