Rugged Maniac has a net worth of $22 million. Rugged Maniac secured a $1.75 million Shark Tank investment from Mark Cuban for 25% equity in the company.
Shark Tank Update
In 2018, New Media Investment Group acquired an 80% stake in Rugged Maniac for a whopping $10.4 million.
Mark Cuban who invested $1.75 million in the company has sold his entire share for $3.5 million, essentially doubling his initial investment. The founders, Rob Dickens and Brad Scudder, still hold the remaining 20% stake.
Rugged Maniac Net Worth
| Net Worth | $22 Million |
| Annual Revenues | $9.6 Million |
| Profits | $4.1 Million |
| Lifetime Revenues | $150 Million |
| Employees | 28 |
Sales Growth
Pre-Shark Tank, Rugged Maniac’s annual revenue was around $4 million. After the show, it skyrocketed to over $10 million within a few years.
Today, Rugged Maniac is a major player in the obstacle course racing scene. They host over 25 events annually, drawing tens of thousands of participants. They’ve even launched additional events like the Costume Dash 5K.
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The Pitch
Co-founders Brad Scudder and Rob Dickens burst onto the stage, literally covered in mud.
They immediately set the tone for their adventure racing series,Rugged Maniac, by demonstrating an obstacle course challenge right in the Tank.
Sharks in the Mud:
The Sharks, initially skeptical, were quickly drawn in by the founders’ energy and the unique appeal of the business.
Barbara Corcoran loved the brand and the potential, while Daymond John recognized the growing market and saw a licensing opportunity.
Mark Cuban, however, remained hesitant, concerned about the scalability and seasonality of the business.
Counterintuitive Counteroffers:
In a surprising turn, Scudder and Dickens countered Cuban’s initial offer of $500,000 for 30% with a bolder proposal: $1.5 million for 20%.
This confident move, while risky, showed the Sharks they believed in their product and were willing to negotiate on their own terms.
Muddy Waters to Clarity:
The negotiation went back and forth, with Cuban eventually settling on a $1.75 million investment for 25% equity. Both sides walked away happy.