GRIND Basketball Shark Tank Update

GRIND Basketball Shark Tank Pitch

Thomas Fields appeared on Shark Tank Season 12, Episode 23, which aired on May 7, 2021, with portable basketball training machine.

GRIND Basketball is listed in the Fitness Outdoors category. In plain terms, the business is described as portable basketball training machine.

GRIND Basketball asked the Sharks for $250,000 for 5%, implying a valuation of about $5 million.

On the show, GRIND Basketball made a listed deal with Mark Cuban and Barbara Corcoran for $250,000 for 25%.

If treated as straight equity, the listed deal works out to about $1 million implied valuation, down from the original $5 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

GRIND Basketball After Shark Tank

GRIND Basketball accepted an on-air Shark Tank deal for $250,000 for 25%. Later reporting says the deal did not close after filming. (Grind

Even with some serious supply chain issues, Thomas had over $1 million in pre-orders in 2021. (Grind

As of February 2023, customers may order “on demand,” and there are no more back-order issues. (Grind

In December 2021 and June 2022, the company raised a total of $1.6 million in additional seed funding. (Grind

Sources

Sources used for this page: Shark Tank API pitches