K3 Shooting Band Net Worth Shark Tank Update

Basketball is a fun and exciting game, but it can also be quite challenging. It takes years of dedicated practice to develop the skills needed to consistently shoot the ball into the hoop. Even for players who have trained for many years, there is always a chance of missing the target. Hitting perfect shots regularly requires focus, precision, and patience, making basketball both rewarding and demanding for those who play it.

Nicky Young, the owner of K3 Shooting Band, has introduced a system to overcome this issue. Her product is a simple band that helps to throw the ball at the perfect angle. It is the only resistance band in the market that fixes a player’s fingers for the right aim. It is worn on the pointer and middle finger which then gets attached to the wrist giving a proper rotation angle. 

The owner came on Shark Tank to request $100K in exchange for 20% of his company. She also adjusted the band on Cuban’s hand to help him try the miracle of the product himself. Let’s explore her journey on the show.

K3 Shooting Band Net Worth Shark Tank Update

Nicky was looking for an investment of $100K in exchange for 20% equity in the company. At the time of the episode, she valued her company at $500K. Nicky successfully secured a deal with Lori and Rubin for an investment of $100K for 40% equity in the company. The investment adjusted the company’s net worth to around $250K. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of K3 Shooting Band in 2024 is around $1.2 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Kevin O’Leary	Out	N\A	N\A
Mark Cuban	Out	N\A	N\A
Lori Greiner + Micheal Rubin	$100K for 20% equity	$100K for 40% equity	Yes
Barbara Corcoran	Out	N\A	N\A

The Owner’s Backstory

Nicky shared that she was raised by her mother, who was a single parent. Her mother struggled with agoraphobia, a severe fear of open spaces, which meant she rarely left the house. Because of this, Nicky took on the responsibility of providing food and other essentials for the family from a young age.

In school, Nicky faced challenges with math due to dyslexia, which made it difficult for her to study beyond community college. However, she discovered a passion for basketball and worked incredibly hard to improve her skills. Her dedication paid off when she helped register her school’s team for their first NCAA tournament, marking a major achievement in her high school sports career.

After high school, Nicky played professional basketball in the Dominican Republic and even attempted to join the Women’s National Basketball Association (WNBA) in 2016. In 2009, she launched the K3 Shooting Band, a product to help improve shooting skills in basketball. Determined to make it successful, she applied to be on the popular business show Shark Tank 15 times, showing her commitment to getting her idea noticed.

Initial Pitch

The owner came on the show to seek $100K for a 20% equity stake. Her product is a shooting band that helps basketball players to aim the ball in the hoop. It is the only resistance band in the market that is worn on the pointer and middle finger for that perfect angle.

Queries about the Product

Lori asked the first question about the patent on the product. Nicky highlighted that the band has a utility patent for the rubber to the Velcro strap.

The guest shark, Rubin, asked about the cost of the product and its selling price. She replied that it costs her $0.91 including the packaging and it retails for $19.99.

She also added that her product is available in Dick’s Sporting Goods, 80 stores, and 29 states. The product is also sold in Walmart.

Corcoran asked if the stores reordered from her as well. She replied in the negatives.

Lori was curious to know the amount the stores ordered from her in the first place. Nicky pointed out that they ordered half of her inventory for their first purchase order which amounts to 2500.

Her sales last year were $43K and for this current date it is about $10K

Rubin asked about her strategy for marketing the product. She related that she sent the bands to NBA trainers in the first place including the one who trains Klay Thompson. This resulted in her shipment to 31 countries in just three days.

Corcoran inquired her plannings if she didn’t get an investment on Shark Tank. Nicky replied that she has three jobs which will help her to scale her business too.

Shark’s Response and Final Decision

Cuban was the first shark to drop the deal, as he thought there were similar things in the market. But he advised Nicky to consult shooting coaches on Instagram to offer them a commission and in turn make her product viral.

Kevin passed the deal as well as he thinks the product will work better on the direct-to-consumer side.

Corcoran also backed out as she doesn’t consider herself to be fit for the company.

Rubin then offered her $100K for 50% equity in her company.

Lori then partnered up with Rubin for $100K for a 50% equity stake.

Nicky then counter-offered them $100K for 40% equity in her company. Finally, the two sharks accepted the counteroffer and Nicky left the tank with a deal on her hands.

Product’s Availability

Though it is still early to see the full impact, appearing on Shark Tank has already given an increase to sales. For anyone looking to improve their jump shot, they can check out the K3 Shooting Band website to purchase a band. However, there is no indication that the deal with Lori and Rubin went through, as the company is not listed on Lori’s website.

Conclusion

Nicky’s appearance on Shark Tank has increased interest in her unique K3 Shooting Band, a product designed to help basketball players improve their shooting accuracy. While she successfully secured a deal with Lori and Rubin at $100K for 40% equity, it is still uncertain if the deal closed, as the product is not yet featured on Lori’s website. Nonetheless, the exposure on Shark Tank has already increased sales, and basketball lovers can explore the K3 Shooting Band to improve their game.