Rugged Races, known for its exhilarating obstacle course events, has experienced significant developments since its appearance on season 5 of Shark Tank USA. After securing a $1.75 million investment from Mark Cuban in 2014, the company saw rapid growth, expanding its events nationwide.

In 2018, New Media Investment Group acquired an 80% stake, with Cuban selling his share for double the investment. Besides, Rugged Maniac, the company also organizes several other races with more than 1.5 million annual participants.

Company achived to reach an estimated net worth of $22 million; yet, due to operational challenges, Rugged Races has taken the difficult decision of shutting down its operations in 2024.

Rugged Races Net Worth

Estimated Net worth$22 million
Annual Sales Revenue$4 million
Lifetime SalesNot available
Shark Tank InvestorMark Cuban
FoundersRob Dickens and Brad Scudder
Employees2-10

Rugged Races Pitch on Shark Tank

Company nameRugged Races
ProductObstacle course series
EpisodeSeason 05 Episode 26
Founders Rob Dickens and Brad Scudder
Asked for$1,000,000 for 10% equity
Final deal$1,750,000 for 25% equity
SharkMark Cuban
LocationBoston, Massachusetts 

Rugged Races Founders

Rugged Races was founded by Rob Dickens and Brad Scudder in 2010. Rugged Maniac was created in June 2010 by Brad Scudder, who used to be a lawyer. He’s the founder and CEO. The co-founder and COO, Rob Dickens, used to work as a lawyer on Wall Street at a place called Milbank, Tweed, Hadley & McCloy. Rugged Races’s founders, Rob Dickens and Brad Scudder, have a net worth of 5.2 million USD as of 2024.

Key accomplishments

YearAccomplishment
2014 The company appeared Shark Tank and got a comprehensive deal from Mark Cuban.
2023As of 2023, 200,000 racers participated in their Rugged Race and the company earned $4 million revenue.

Conclusion

Some companies that appear on the show have not achieved great success, and the Rugged Races was one of them. Sometimes businesses don’t succeed because of many reasons. Sometimes, the deal falls through after the founders say yes on camera. Or, as you’ll see, sometimes things happen to the founders themselves, and they choose to abandon the business. Anything is possible. However, Rugged Races went out of business in 2024. And the product is no longer available in the market.

ABOUT KESARA BANDARAGODA
Kesara Bandaragoda is a Sri Lankan-born media entrepreneur currently based in Dubai, with a lifelong passion for storytelling, innovation, and all things screen-worthy. Whether it's a mind-bending sci-fi epic or the latest startup pitch on Shark Tank, Kesara is all in. In fact, he was one of the earliest content creators to cover Shark Tank Australia online and has been tracking its businesses, products, and founders since 2019 — long before it was cool.

Kesara is the visionary CEO behind BrandFactory, a digital media company powering multiple content platforms that reach millions. When he’s not leading a team of creatives, he’s often geeking out over Marvel and DC universes, decoding Spielberg's directorial magic, or revisiting classics like The Shawshank Redemption, Interstellar, and Pirates of the Caribbean (yes, he's a Johnny Depp loyalist).

INDUSTRY FOCUS
Kesara’s writing and content leadership often focus on the intersection of entrepreneurship, entertainment, and emerging digital cultures. He’s particularly passionate about telling stories that celebrate founders, dissect business blueprints from media narratives, and spark curiosity in audiences across the globe.

FAVORITE MEDIA
A sci-fi enthusiast with a taste for high-stakes storytelling, Kesara’s favorite titles range from cerebral time-space odysseys to charismatic pirate adventures. He thrives in content that mixes real-world business insight with the spectacle of entertainment — think Shark Tank meets Black Mirror, with a touch of Marvel heroics.

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