Shark Tank Update
Shark Tank Pitch
Rugged maniac Shark Tank Update
Published:
3m
Boston, MA
| Name | Rugged maniac |
|---|---|
| Main Presenters | Bradford Scudder and Rob Dickens |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 2/11/2023 |
| Main Location | Boston, MA Loading Map |
| Order Shown in Episode | 2 |
| Final Deal | Deal was made on the show with sharks Mark Cuban for $1.75 million for 25% of company. |
Rugged maniac Shark Tank Pitch
Bradford Scudder and Rob Dickens created Rugged Mania, a 5-kilometer obstacle course race. The obstacles include crawling through mud, going down huge water slides, and jumping over fire. The course encourages people of all fitness levels to participate. Rugged Mania takes about an hour to complete, and they sell alcohol to have a party following the race.
Some competitors run similar courses but target a more hardcore audience. Rugged maniac operates in 20 cities across the country. Sales last year were $4.2 million with a $1 million profit. Next year they project $6.5 million in revenue with $2.2 million in profit.
Rob and Bradford put their $1 million profit into creating a running with the bulls event in the US, where they were pleased only to have a few concussions and broken bones come out of the event. The first bull event did $280k in sales. Rob and Bradford offer $3 million for 10% to include the bull business.
The sharks feel uneasy about getting into business with Rob and Bradford after revealing late in the pitch that they had the bull business. Robert makes an offer and ultimately joins Kevin while Mark watches on the sidelines. Rob and Bradford have their eye on Mark, eventually negotiating a deal for both companies. Mark shook his head at the initial ask and called the bull business stupid but eventually came around.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $1 million for 10% of company | |
| Company | Offered | $3 million for 10% of company and bull company | |
| Sharks | Offered | Robert Herjavec | $1.5 million for 25% of both companies |
| Sharks | Out | Daymond John | Out |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Offered | Kevin O'Leary, Robert Herjavec | $1500k for 33% of both companies |
| Sharks | Offered | Mark Cuban | $1.5 million for 25% of both companies |
| Company | Deal | Mark Cuban | $1.75 million for 25% of company |
Mark Cuban
Made Deal
Daymond John
Out
Kevin O'Leary
Offered
Barbara Corcoran
Out
Robert Herjavec
Offered
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Rugged maniac After Shark Tank
According to a 2017 article by cnbc.com https://www.cnbc.com/2017/10/16/the-crucial-business-lesson-mark-cuban-taught-this-ceo.html, Bradford Scudder and Rob Dickens met in law school, and both were attornies for a few years. Bradford and Rob missed the outdoorsy lifestyle they experienced growing up. Brad did a Tough Mudder event, which led him to build a more condensed obstacle course when he wasn't working. Four months later, Rob quit his job to go full-time on Rugged Maniac, which scored 1,500 people at its first event in 2010. Rob Dickens joined the business early on.Link Preview
cnbc.com
According to businesswire.com https://www.businesswire.com/news/home/20180815005689/en/New-Media-Announces-Acquisition-of-a-Majority-Interest-in-Events-Production-Company-Rugged-Events-Holding-LLC-for-10.4-Million, Shark Tank boosted business for Rugged Maniac, and they expanded their event footprint by acquiring other event companies over the years. In 2018 a large event company, New Media Investment Group, paid $10.4 million to acquire a majority stake in Rugged Maniac, which would live under their existing subsidiary called GateHouse Live. Mark Cuban was bought out and likely more than doubled his investment, while Bradford Scudder and Rob Dickens continued to hold a minority stake in the business.Link Preview
businesswire.com
Rob Dickens spoke to MUD Run Guide about the acquisition on YouTube https://youtu.be/IQS6znV0Qdo https://www.runninginsight.com/no-obstacles and planned to continue purchasing smaller event companies and grow. According to a 2020 article by runninginsight.com Link Preview
YouTube , GateHouse Media with Gannett in 2019, which planned to expand even operations through 2020.
Link Preview
runninginsight.com
According to Bradford Scudder's LinkedIn https://www.linkedin.com/in/bradford-scudder123, he left Rugged Races in 2020 and, as of 2023, works for a different event company. I can't find confirmation, but I suspect Rob Dickens remained with Rugged Maniac at least as of 2020, perhaps under one of the parent companies of Rugged Maniac.Link Preview
LinkedIn
Rugged Maniac's website is ruggedmaniac.com https://ruggedmaniac.com https://www.facebook.com/ruggedmaniac https://www.instagram.com/ruggedmaniac https://x.com/RuggedManiac https://venturesendurance.com. As of 2023 they are active on their Facebook Link Preview
ruggedmaniac.com , Instagram, @ruggedmaniac Link Preview
Facebook , and Twitter, @RuggedManiac Link Preview
@ruggedmaniac . As of 2023, Ventures Endurance may be the central company for several events including Rugged Maniac. Their website is venturesendurance.com Link Preview
@RuggedManiac .Link Preview
venturesendurance.com
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