THEMAGIC5 Net Worth 2023 Update (Before & After Shark Tank)

THEMAGIC5 is a company making customized swimming goggles. This was started by Bo Haaber and Rasmus Barfred in 2017. As of December 2023, THEMAGIC5’s net worth is $15 million. They’re pulling in a whopping $3 million in annual revenue. 

In 2021, they appeared on season 13 of Shark Tank USA and made a deal with Robert Herjavec and Mark Cuban for $1 Million for a 6.5% equity. The final valuation was $15.38, down from the founder’s initial estimate of $20 million.

THEMAGIC5 had substantial growth in sales after its pitch on the Shark Tank. Bo and Rasmus managed to secure a deal for THEMAGIC5, and the company kept growing using sophisticated technology to make custom goggles. As of December 2023, THEMAGIC5 is active in business. Their products are available on the company website and Amazon. 

THEMAGIC5 Net Worth

Net worth$15 million (2023)
Annual Sales Revenue$3 million (2023)
Profits
Lifetime sales$4.1 million (2022)
InvestorsRobert Herjavec and Mark Cuban
FoundersBo Haaber and Rasmus Barfred
Employees3-20

THEMAGIC5 Net Worth Timeline

Net Worth 2023$15 million
Net Worth 2022$15 million
Net worth valuation in 2021 after appearing on Shark Tank  $15.38 million
Net worth valuation in 2021 before appearing on Shark Tank  $20 million

THEMAGIC5 Pitch on Shark Tank

Company nameTHEMAGIC5
ProductCustomized swimming goggles
EpisodeSeason 13 Episode 04
Founders Bo Haaber and Rasmus Barfred
Asked for$500,000 for 2.5% of equity
Final deal$1 Million for 6.5% of equity
SharksRobert Herjavec and Mark Cuban
LocationCharlotte, North Carolina

Don’t miss these products from Season 13

THEMAGIC5 Founders

THEMAGIC5 was founded by Bo Haaber and Rasmus Barfred in 2017. As swimming experts and professionals in the Business sector, Bo and Rasmus aimed to start their own business by combining both. Bo holds an MBA from Henley Business School. Before starting his entrepreneurial journey, Bo worked at Silkeborg Data and Immediad A/S. Rasmus has a Master of Science from Copenhagen Business School. He has previous experience working as a Media Strategy Consultant. THEMAGIC5’s founders, Bo Haaber and Rasmus Barfred, have a net worth of $17 million as of 2023.

Key accomplishments

YearAccomplishment
2021THEMAGIC5 was featured on Shark Tank and secured a deal.

Conclusion

From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for THEMAGIC5 and its continued success.