The Magic 5 is Shark Tank appeared company that makes custom-fit swim goggles. As of 2023, The Magic 5 is worth $15 million, and the company is still in business and is continuing to grow. The Magic 5 appeared in the shark tank in Season 13, Episode 4.
The Founders, Bo Habber, Niklas, and Rasmus Barfred, appeared in Shark Tank to seek $500,000 for a 2.5% equity and were able to make a secure deal of $1 Million for a 6.5% Equity with Robert Herjavec and Mark Cuban.
Let’s find out how they made a simple goggles business into a multi-million worth.
- 1. Magic 5 goggles net worth in 2023?
- 2. What is Magic 5?
- 3. How does the Magic 5 goggles work?
- 4. Who is the founder of the Magic 5
- 5. What happened at the Shark Tank?
- 6. The Magic 5 shark tank update
- 7. What happened to the Magic 5 after the Shark Tank? – Magic 5 Shark Tank Update
- 8. How much do Magic 5 goggles cost?
- 9. Competitors of Magic 5
- 10. The Magic 5 Goggles Review
- 11. Social Media
- 12. FAQ
Magic 5 goggles net worth in 2023?
As of 2023, Magic Five Net worth was estimated at 15 Million USD. But Magic Five’s net worth might be far higher than that. In 2022, the company earned 2.6 Million USD in sales and they continue to expand the business by introducing many other products.
Read what happened to THEMAGIC5’s worth and net worth update here.
What is Magic 5?
Magic 5 is a company that manufactures and distributes Goggles on a custom-fit basis. The Magic 5 Goggles Company uses various algorithms to provide a unique product to each customer, along with the perfect matching.
It means that among hundreds of world brands, Magic 5 is the best as they design goggles uniquely for different faces. With 3D printing technology and artificial intelligence, users enjoy a goggle that fits 100% to their faces.
How does the Magic 5 goggles work?
Who is the founder of the Magic 5
Bo Haaber from Brooklyn, New York, and Rasmus Barfred from Charlotte, North Carolina, are the first two founders of the Magic 5 company. Both founders were swimmers who had just got satisfied with swimming in a typical manner. When it comes to their third founder, Nicholas Granet, was a national swimmer on the Danish team as well.
What happened at the Shark Tank?
The founders of the magic five, Bo and Rasmus, want to have an investment from Shark Tank. Bo and Rasmus took part in the Shark tank looking for 500,000 USD for 2.5%.
Bo and Rasmus explained that they had reached more than 40,00 customers, including pro swimmers, celebrities, and athletes worldwide.
After the statements and clarifications by Magic 5 founders were over, sharks started a bidding war which showed Robert, a shark, to be more interested than other Sharks.
The Magic 5 shark tank update
The bidding war gave Robert the authority to invest and lend money for Magic 5. Also, the accepted offer was $1 million for 6.5%. According to various resources, Mark and Nirav will make offers as well. It means, shortly, Sharks will start to swim with the Magic Five goggles on.
What happened to the Magic 5 after the Shark Tank? – Magic 5 Shark Tank Update
Magic 5 goggles are doing well after shark tank. Soon after the epsiode aired, Mark Cuban got in with another deal and continued to provide strategic guidance besides Robert. Afterwards, Magic 5 appeared in Men’s Health, Triathlete Magazine, The New York Times, Today, and Women’s Health. Magic 5 business will keep increasing steadily, especially as summer rolls around.
The company now offers five types of swimming goggles. You can check out all of their products on their website. Magic 5 has also introduced Anti-fog sprays, caps, Goggle mesh bags, Unisex T-shirts, and a set of card games. Their products were made available for purchase on the website and on Amazon.
After appearing on Shark Tank, media coverage of the product was improved and sales were boosted. In 2022, the company reached 2.6 Million USD in sales and continued getting positive reviews from customers. Further, the Magic 5 products have a high average rating of 4.89 stars from over 2,500 reviews.
How much do Magic 5 goggles cost?
The price of this product is found on its official website from $65 – $99 (You can also buy a bundle of three for $100-120 on sale.). This product is also being sold on Amazon. You can get the MAGIC 5 SWIMMING GOGGLES DISCOUNT CODE here.
Competitors of Magic 5
Among the competitors of Magic 5 company, the Cressi, Speedo, and Swimmers supply companies are crucial. Although these companies rush with innovative technology, the Magic 5 company has the innovation and funding far beyond anyone.
The Magic 5 Goggles Review
The Magic 5 is an innovative face-matching goggle manufacturing company that is also the first of its kind.
Magic 5 Google sis owned by Ba Haaber, Rasmus barfred, nichloasBranet, and Robert Herjavec.
There are two prices for the magic five goggles. The customized goggles will be priced at $55 while uncustomized goggles will be priced at $14.
The approximate worth of the company is about $5.96 million.
Cressi, Speedo, and Swimmers supply companies are some crucial competitors.
Robert Herjavec invested with an offer of $1 million for 6.5%. Afterward, Mark Cuban also made an investment in Magic 5.