The world of entrepreneurship is often unpredictable, with twists and turns that can leave even the most experienced business owners scratching their heads. One such story is that of Spikeball, a company that rose to fame with its unique and addictive outdoor game. But what’s even more fascinating is the story of how Spikeball caught the attention of one particular Shark from ABC’s hit TV show, Shark Tank.
The Rise of Spikeball: From Humble Beginnings to Viral Sensation
Spikeball, founded by Chris Ruder in 2008, was initially met with skepticism. The game, which combines elements of volleyball and four square, was seen as a niche product with limited appeal. However, Ruder’s persistence and innovative marketing strategies eventually paid off. By leveraging social media and influencer partnerships, Spikeball began to gain traction, eventually becoming a viral sensation among outdoor enthusiasts and college students.
As the company’s popularity grew, so did its revenue. In 2013, Spikeball brought in a modest $100,000 in sales. Fast forward to 2015, and that number had ballooned to a staggering $1.5 million. It was clear that Spikeball was onto something big, and it wasn’t long before the company caught the attention of the Sharks from ABC’s Shark Tank.
Tank Time: Which Shark Took the Bait?
On a fateful episode of Shark Tank in 2015, Chris Ruder pitched Spikeball to the Sharks, hoping to secure an investment that would take his company to the next level. After a tense negotiation, Ruder walked away with a deal from one Shark in particular: Sara Blakely, founder of Spanx.
Blakely, known for her shrewd business acumen and entrepreneurial spirit, saw something in Spikeball that the other Sharks didn’t. She recognized the game’s potential to become a cultural phenomenon, and was willing to take a risk on Ruder’s vision.
Why Sara Blakely Was the Perfect Shark for Spikeball
So, what made Sara Blakely the perfect Shark for Spikeball? For starters, her experience as a female entrepreneur in a male-dominated industry gave her a unique perspective on brand building and marketing to niche audiences. As the founder of Spanx, Blakely had already demonstrated her ability to create a brand that resonated with consumers and disrupted an entire industry.
Moreover, Blakely’s investment in Spikeball was more than just a financial transaction. She brought a wealth of knowledge and expertise to the table, providing Ruder with valuable guidance on how to scale the company while maintaining its core identity.
Blakely’s Investment Strategy: A Focus on Community Building
Blakely’s investment in Spikeball was contingent on one key condition: Ruder had to focus on building a strong community around the brand. This meant investing in social media, influencer partnerships, and grassroots marketing initiatives that would help Spikeball connect with its target audience.
By doing so, Blakely aimed to create a loyal following that would drive sales and fuel the company’s growth. This strategy paid off, as Spikeball’s community-driven approach helped to foster a sense of belonging among its customers.
The Impact of Blakely’s Investment: Spikeball’s Meteoric Rise
The impact of Sara Blakely’s investment in Spikeball was nothing short of remarkable. In the months following the Shark Tank episode, Spikeball’s sales skyrocketed, with the company reporting revenues of over $10 million by the end of 2015.
But Blakely’s investment did more than just boost Spikeball’s bottom line. It provided the company with the credibility and exposure it needed to attract new customers and partnerships. Suddenly, Spikeball was being played on college campuses, in backyards, and at outdoor gatherings across the country.
Spikeball’s Expansion into New Markets
With Blakely’s guidance, Spikeball began to explore new markets and revenue streams. The company partnered with major brands like Red Bull and GoPro, using these partnerships to fuel further growth and expansion.
Spikeball also made a foray into the world of competitive sports, hosting its own tournaments and championships. This move helped to establish the game as a legitimate sport, attracting top athletes and teams from around the world.
Spikeball’s Philanthropic Efforts: Giving Back to the Community
As Spikeball’s popularity grew, so did its commitment to giving back to the community. The company partnered with organizations like the Boys and Girls Clubs of America, using its platform to promote physical activity and outdoor recreation among underprivileged youth.
Spikeball also launched its own charitable initiative, “Spike for a Cause,” which encouraged customers to host their own charity tournaments and fundraising events. This program helped to raise hundreds of thousands of dollars for various charities and causes, solidifying Spikeball’s reputation as a socially responsible brand.
The Lasting Legacy of Sara Blakely’s Investment
Sara Blakely’s investment in Spikeball was more than just a savvy business move – it was a testament to the power of entrepreneurship and innovation. By taking a risk on Chris Ruder’s vision, Blakely helped to create a cultural phenomenon that continues to inspire and entertain people around the world.
Today, Spikeball is a household name, with a loyal following of millions. The company’s success has paved the way for other entrepreneurs and inventors, showing them that with hard work, determination, and the right investment, even the wildest ideas can become a reality.
As for Sara Blakely, her investment in Spikeball serves as a reminder of her own entrepreneurial spirit and commitment to empowering others. Her legacy continues to inspire and motivate, showing us that with the right attitude and a willingness to take risks, anything is possible.
| Spikeball’s Revenue Growth | 2013 | 2015 |
|---|---|---|
| Revenue | $100,000 | $1.5 million |
| Year-over-Year Growth | – | 1400% |
As the story of Spikeball and Sara Blakely’s investment serves as a powerful reminder, entrepreneurship is all about taking risks and believing in the impossible. Whether you’re a seasoned business owner or just starting out, there’s always room to learn and grow. So, the next time you’re considering taking the plunge on a new venture, remember the Shark who invested in Spikeball – and the incredible success that followed.
Who is the Shark who invested in Spikeball?
Chris Sacca, a well-known investor and entrepreneur, invested in Spikeball in 2013. He is a venture investor, entrepreneur, and company advisor who has invested in many successful startups, including Twitter, Uber, and Instagram. Sacca has been featured on Shark Tank, a popular reality TV show, where entrepreneurs pitch their business ideas to a panel of potential investors.
Sacca saw the potential in Spikeball, a fast-growing and innovative company, and decided to invest in it. His investment helped Spikeball expand its operations and reach a wider market. Sacca’s involvement with Spikeball has been instrumental in the company’s success, and he continues to be an advisor and supporter of the brand.
What is Spikeball, and how did it start?
Spikeball is a popular outdoor game that combines elements of volleyball and four square. It is played with a small, bouncy ball and a circular net that stands at ankle height. The game was invented by Chris Ruder, who created the first prototype in 2008. Ruder was inspired by his own experiences playing a similar game as a child and wanted to create a game that was easy to learn and play, but also challenging and fun.
Ruder launched Spikeball in 2013, and the game quickly gained popularity. It started as a grassroots movement, with enthusiasts sharing the game with friends and family. The game’s popularity grew rapidly, and today Spikeball is played by millions of people around the world. The company has become a leader in the outdoor gaming industry, and its products are sold online and in stores across the globe.
What was Chris Sacca’s role in the growth of Spikeball?
Chris Sacca played a significant role in the growth of Spikeball. He invested in the company in 2013, providing crucial funding and guidance to help the company expand its operations. Sacca’s investment allowed Spikeball to increase its production, hire more staff, and invest in marketing and advertising. His involvement also helped Spikeball gain exposure and credibility, as his reputation as a successful investor and entrepreneur lent credibility to the brand.
Sacca’s role went beyond just providing funding. He also offered valuable advice and guidance to the Spikeball team, helping them navigate the challenges of rapid growth. His experience and expertise in the startup world were invaluable to the company, and he continues to be an important advisor and supporter of the brand.
How did Spikeball become so popular?
Spikeball’s popularity can be attributed to a combination of factors. One reason is the game’s unique design and playability. The game is easy to learn, but challenging to master, making it appealing to people of all ages and skill levels. The game is also highly social, encouraging players to interact and have fun together.
Another factor in Spikeball’s popularity is its grassroots origins. The game started as a word-of-mouth phenomenon, with enthusiasts sharing the game with friends and family. As more people played the game, it gained momentum, and its popularity grew rapidly. Spikeball’s social media presence and marketing efforts also helped to fuel the game’s growth, as did partnerships with schools, community groups, and other organizations.
What makes Spikeball different from other outdoor games?
Spikeball stands out from other outdoor games due to its unique design and gameplay. The game’s circular net and bouncy ball create a fast-paced and dynamic playing experience that is unlike other games. Spikeball is also highly portable and easy to set up, making it ideal for backyard gatherings, beach trips, and other outdoor activities.
Another factor that sets Spikeball apart is its focus on social interaction. The game is designed to be played with friends and family, encouraging players to interact and have fun together. Spikeball’s social nature helped to fuel its popularity, as players shared the game with others and created a sense of community around the brand.
How has Spikeball impacted the outdoor gaming industry?
Spikeball has had a significant impact on the outdoor gaming industry. The game’s popularity has helped to drive growth in the industry, as more people become interested in outdoor games and activities. Spikeball’s success has also paved the way for other outdoor games and startups, inspiring entrepreneurs to create new and innovative products.
Spikeball’s impact goes beyond just the gaming industry. The game has also helped to promote physical activity and outdoor play, encouraging people to get outside and be active. Spikeball’s focus on social interaction has also helped to build communities and foster connections between people.
What is the future of Spikeball?
The future of Spikeball looks bright, with the company continuing to innovate and expand its operations. Spikeball plans to release new products and games, while also investing in marketing and advertising efforts to reach new customers. The company is also exploring partnerships with schools, community groups, and other organizations to promote the game and encourage physical activity.
As Spikeball continues to grow, it is likely to remain a leader in the outdoor gaming industry. The company’s commitment to innovation, quality, and customer service has earned it a loyal following, and its products are likely to remain popular for years to come. With Chris Sacca’s continued support and guidance, Spikeball is poised for long-term success.