Did Magic 5 get a deal on Shark Tank Season 13? Yes, Magic 5, an AI-based custom-fitted swimming goggles company, secured a deal on Shark Tank Season 13. They initially sought $500,000 for 2.5% equity but ultimately received $1,000,000 for 6.5% from Robert Herjavec.
Summary
- Magic 5 successfully pitched their AI-powered custom swimming goggles on Shark Tank Season 13.
- The company secured a $1 million investment from Robert Herjavec for 6.5% equity.
- Magic 5’s goggles are designed to address the common issue of ill-fitting goggles among swimmers.
- The technology scans swimmers’ faces to create perfectly fitted goggles, enhancing performance and comfort.
- The Shark Tank appearance is expected to boost Magic 5’s visibility and sales significantly.
Magic 5 Shark Tank Update | Shark Tank Season 13
What is Magic 5?
Magic 5 is a revolutionary company specializing in AI-powered custom-fit swimming goggles.
Their innovative technology utilizes facial scanning to create goggles that perfectly match the unique contours of each swimmer’s face.
This personalized fit ensures maximum comfort, eliminates leaks, and enhances performance in the water.
The Problem Magic 5 Solves
Traditional swimming goggles often come in standard sizes and shapes, leading to a common issue: ill-fitting goggles.
This can result in discomfort, water leakage, and distractions during swimming, ultimately hindering performance.
Magic 5 addresses this problem by offering a tailored solution that caters to the individual needs of each swimmer.
Shark Tank Season 13 Pitch
1. Magic 5’s Original Ask
| Entrepreneurs | Gary Hall Sr., Rasmus Barfred, Niklas Hedegaard |
|---|---|
| Business | Magic 5 |
| Ask | $500,000 for 2.5% |
| Deal | $1,000,000 for 6.5% |
| Sharks | Robert Herjavec |
| Season | Season 13 |
| Original Air Date | May 19, 2023 |
| Website | Magic 5 |
| Key Points of Pitch |
|
| Why Sharks Accepted |
|
2. The Sharks’ Reactions
During their Shark Tank pitch, Magic 5 garnered a mix of reactions from the Sharks.
Some were initially skeptical about the product’s practicality and potential market, while others were intrigued by the innovative technology and the founders’ passion for solving a common problem among swimmers.
3. Robert Herjavec’s Investment
Robert Herjavec, known for his investments in tech-driven businesses, saw the potential in Magic 5.
He recognized the value of a product that could revolutionize the swimming experience for athletes and recreational swimmers alike.
Herjavec’s $1 million investment not only provided Magic 5 with financial backing but also brought his expertise and network to the table, further propelling the company’s growth.
Magic 5’s Technology
1. How the AI Scanning Works
Magic 5’s groundbreaking technology centers around an AI-powered facial scanning process. This innovative system involves customers using the Magic 5 app on their smartphones to scan their faces.
The app guides users through a series of simple steps, ensuring proper positioning and lighting. The captured images are then uploaded to Magic 5’s servers, where the AI algorithms analyze the unique facial contours and measurements of each individual.
This data is used to create a 3D model of the swimmer’s face, which is then used to design a pair of goggles that perfectly conforms to their specific features.
2. The Benefits of Custom-Fitted Goggles
The advantages of Magic 5’s custom-fit goggles are numerous and extend to both professional athletes and casual swimmers.
- Comfort: Goggles that are tailored to an individual’s face eliminate pressure points and discomfort, allowing for longer, more enjoyable swims.
- Leak Prevention: The precise fit ensures a watertight seal, preventing leaks and the need for constant adjustments.
- Enhanced Performance: By reducing distractions and discomfort, custom-fit goggles help swimmers focus on their technique and achieve their best performance.
- Reduced Goggle Marks: The even distribution of pressure eliminates the dreaded “raccoon eyes” that often accompany traditional goggles.
- Personalized Experience: Each pair of Magic 5 goggles is unique, reflecting the individual’s facial structure and offering a truly personalized swimming experience.
The Future of Magic 5
1. Growth Plans After Shark Tank
The Shark Tank appearance served as a catalyst for Magic 5’s growth. With Robert Herjavec’s investment and guidance, the company has been able to expand its operations, increase production, and reach a wider audience.
They are actively developing new marketing strategies, exploring partnerships with swimming organizations and retailers, and working on expanding their product line to cater to different types of swimmers and water sports enthusiasts.
2. Impact on the Swimming Industry
Magic 5’s innovative approach to goggle design has the potential to disrupt the swimming industry significantly.
Their custom-fit technology challenges the traditional “one-size-fits-all” approach and offers a solution that prioritizes individual comfort and performance.
As more swimmers experience the benefits of Magic 5 goggles, the demand for personalized gear is likely to increase, prompting other companies to explore similar technologies.
The ripple effect of Magic 5’s success could lead to a shift in the way swimming equipment is designed and manufactured, ultimately benefiting swimmers of all levels.
FAQs
How much do Magic 5 goggles cost?
The price of Magic 5 goggles varies depending on the model and customization options. However, they generally range from $200 to $300.
How long does it take to receive custom-fit goggles?
The production time for Magic 5 goggles typically takes a few weeks after the facial scan has been processed.
Can I use Magic 5 goggles for other water activities besides swimming?
While Magic 5 goggles are primarily designed for swimming, they can also be used for other water sports like snorkeling and water polo, thanks to their comfortable and leak-proof design.
Are Magic 5 goggles suitable for children?
Yes, Magic 5 offers goggles specifically designed for children. The scanning process is simple and can be done with adult supervision.
Where can I purchase Magic 5 goggles?
Magic 5 goggles can be purchased directly through their website. They are also available at select retailers and swimming specialty stores.
The Bottom Line
Magic 5’s journey from a Shark Tank pitch to a thriving business showcases the power of innovation and the potential of technology to transform everyday products. Their AI-driven custom-fit swimming goggles have redefined the standards of comfort and performance in the water, benefiting swimmers of all levels. By addressing a common problem and offering a personalized solution, Magic 5 has made a splash in the swimming industry and is poised for continued growth and success. The company’s dedication to enhancing the swimming experience for all is evident in their ongoing commitment to research, development, and customer satisfaction.
