Spikeball Inc., headquartered in Chicago, Illinois, is a leading American sports equipment manufacturer specializing in roundnet, a dynamic net sport. Established in 2007 by Chris Ruder, the company has grown to become the foremost supplier of roundnet equipment worldwide.
It also actively promotes the sport through sponsoring tournaments across various countries, including the United States, Belgium, Canada, and Colombia. Additionally, the Spikeball Roundnet Association, which is associated with the company, has brought the sport into the mainstream by broadcasting tournaments on ESPN2 starting in May 2018.
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Spikeball Net Worth
Spikeball has a net worth of approximately $45.2 million. In terms of annual revenue, Spikeball generates an average of $7.5 million each year.
By 2017, the company reported annual sales of around $15 million and celebrated selling its one-millionth net. This growth trajectory suggests a substantial increase in the company’s valuation since its appearance on Shark Tank in 2014.
History
Founded in 2007 by Chris Ruder, Spikeball Inc. revitalized the game of roundnet, which was invented in the 1980s by Jeff Knurek. Although it faded into obscurity, Ruder, captivated by the game’s potential during its brief market presence in the 1980s, acquired the rights and started manufacturing the equipment. The company gained momentum through grassroots marketing and strong community engagement, which remains a cornerstone of its strategy.
Tournaments and Spikeball Roundnet Association
The growth of Spikeball has been closely tied to its competitive scene. The company founded the Spikeball Roundnet Association, which started broadcasting tournaments on ESPN2 in 2018. These tournaments have not only increased the sport’s visibility but also helped establish a structured competitive framework, including a ranking system introduced in 2016.
How many units of Spikeball have been sold?
According to DNA Info, Spikeball currently employs eight full-time staff members and has sold more than 100,000 units. The game is available at 850 Dick’s Sporting Goods stores nationwide. Additionally, through USA Spikeball, a network initiated by Chris Ruder, the company facilitated over 100 tournaments, engaging 250,000 players across the country last year.
Who from Shark Tank invested in Spikeball?
During Spikeball’s 2014 appearance on Shark Tank, Daymond John agreed to invest $500,000 for a 20% stake in the company. However, this deal ultimately fell through due to differences in vision for the company’s direction.
Conclusion
Spikeball Inc. stands as a testament to the potential of niche sports to grow into significant business ventures. With a dedicated community, widespread appeal, and strategic leadership, Spikeball continues to thrive and expand, contributing significantly to the global sports and entertainment landscape.
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FAQs about spikeball’s Net Worth
- What is the estimated net worth of Spikeball Inc.? While the exact net worth is not publicly disclosed, the company has shown significant growth, with revenues reported at $15 million annually as of 2017.
- How did Shark Tank impact Spikeball’s business? Despite the deal with Daymond John not materializing, Spikeball gained considerable exposure from Shark Tank, which helped accelerate its growth and popularity.
- What is the significance of the Spikeball Roundnet Association? The association organizes tournaments and standardizes competitive play, which has been crucial for building a structured community and increasing the sport’s legitimacy.
- How has the community contributed to Spikeball’s success? The community’s enthusiasm and organic promotion of the sport have been vital to its growth, reducing marketing costs and building a loyal customer base.
- What are some key milestones in Spikeball’s history? Key milestones include the airing of tournaments on ESPN2, the sale of the one-millionth net, and the establishment of a formal ranking system within the competitive scene.
