Chris Ruder founded Spikeball, a company that sells Spikeball kits. Spikeball was founded in 2007 and has now grown into one of the world’s largest companies.
|Pitch||A Lawn and Beach Game|
|Business Status||In Business|
|Spikeball Net Worth||$6 million (Last Updated 2022)|
Spikeball Net Worth
When Spikeball appeared on Shark Tank, it was valued at $5 million. As of 2022, Spikeball has a net worth of $6 million.
An Explanation Of Spikeball Game
As Kendall Baker of Axios explains, Spikeball is a game played between two teams each composed of two players. Serving teams smash the ball against the base of the net, so it goes flying.
As in volleyball, the ball can be touched three times by the receiving team. When they cannot return the ball, the point goes to the serving team.
By now, you likely have a pretty good idea of what Spikeball is. Kits for playing this game are sold by this company.
Spikeball Founder’s Story
Spikeball started in a basement, something that very few people know about. The business was started by Chris Ruder. After raising $1.0 million with the help of five friends, Ruder was able to start the company.
Spikeball gear became super popular around Chicago when students played the game. The equipment was produced by Ruder in collaboration with a Chinese manufacturer.
Over the past few years, Spikeball has continued to grow its revenue. In addition, the number of fans is growing quite rapidly for the company. There are plenty of people who love the game and it’s a great concept.
In Spikeball’s massive plants, tens of thousands of workers work to meet the company’s rapid growth needs.
Appearance in Shark Tank
In 2015, Chris Ruder pitched his business idea to investors on Shark Tank after he had earned his first million dollars from the company two years before.
Ruder didn’t need the money because Spikeball was a success and available at major retailers. Rather, he sought the Sharks’ intellect and expertise.
When the episode was aired, the company’s market value was $2.5 million. Thus, Chris was seeking to receive $500,000 in return for a 20% stake in the company.
Even though he had hoped Nick Woodman or Mark Cuban would offer him a deal, Daymond John offered him one.
Ruder did not give in to heated discussions. Thus, John invested $500,000 in exchange for 20% equity.
What Happened to Spikeball After Shark Tank Deal?
Despite its popularity, spikeball continues to thrive. Shark Tank raised Spikeball’s profile and sales dramatically, and the company has an extensive social media presence.
Spikeball is a growing sport, enjoyed by people across the country as well as in Canada and Mexico. Spikeball costs $59.99 on Amazon.com, with an impressive customer rating of 4.5.
Current Status Of The Company
In recent years, spikeball has become more popular as a recreational and competitive sport. Kieran Darcy, a sports writer, discusses how Spikeball has become an increasingly popular sport that airs on ESPN.