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 Sales | Not available |
| Shark Tank Investor | Mark Cuban |
| Founders | Rob Dickens and Brad Scudder |
| Employees | 2-10 |
Rugged Races Pitch on Shark Tank
| Company name | Rugged Races |
| Product | Obstacle course series |
| Episode | Season 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 |
| Shark | Mark Cuban |
| Location | Boston, 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
| Year | Accomplishment |
| 2014 | The company appeared Shark Tank and got a comprehensive deal from Mark Cuban. |
| 2023 | As 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.