Splash Place Swim Goggles Net Worth Shark Tank Update

Swimming and spending time at the beach is a fantastic way to relax and have fun. Every swimmer brought essentials like a bikini, a surfboard, and goggles to make the most of their day by the water. However, wearing goggles can be a bit tricky; they are sometimes uncomfortable and can get tangled in hair, which can be annoying.

Ashley Carson and Karen Walker, the owners of Splash Place Swim Goggles, have introduced goggles that resolve the problem. The goggles are made with super soft stretchy fabric straps that not only are soft to wear but also, do not break easily.

The owners came on Shark Tank to request $200K in exchange for 5% of their company. They also presented the sharks with their products to highlight their functionality. Let’s explore their journey on the show.

Splash Place Swim Goggles Net Worth Shark Tank Update

Ashley and Karen were looking for an investment of $200K in exchange for 5% equity in Splash Place Swim Goggles. At the time of the episode, they valued their company at $4 million. Ashley and Karen successfully secured a deal with Lori for an investment of $200K for 10% equity in the company. The investment adjusted the company’s net worth to around $2 million. After the show was aired, Splash Place Swim Goggles saw a big increase in website traffic, sales, and social media exposure. As per my rough estimate, the current net worth of Splash Place Swim Goggles in 2024 is around $7.5 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	$200K for 5% equity	$200K for 10% equity	Yes
Robert Herjavec	Out	N\A	N\A
Emma Grede	Out	N\A	N\A

The Owners’ Backstory

Ashley shared that a few months after her infant son passed away, her husband suffered a serious brain injury. Faced with these challenges, she decided to start a sewing business to help support her family while also taking care of her husband. One day, her son came to her with his broken swim goggles, hoping she could fix them.

Using her sewing skills, she replaced the straps herself, which sparked the idea for a new product. This led to the creation of Splash Place Swim Goggles, a brand focused on making durable, comfortable goggles for swimmers.

Initial Pitch

The mother-daughter duo came on the show to seek $200K for a 5% equity stake. Their product is basically swimming goggles that have soft and elastic fabric as a band, which makes them more strong and less tight.

Queries about the Product

Kevin wanted to know why there wouldn’t be anyone else who would make the same goggles. Ashley replied that their product is patent pending at the moment.

Lori asked if there is any product like that in the market already. Karen highlighted that there are but not with a swimsuit-style fabric. Moreover, they have over 25 designs which are easily attracted by kids.

Mr. Wonderful asked his favorite question about sales. Ashley replied confidently that so far, her collective sales have been $6.1M since starting in May of 2017.

Herjavec inquired about their sales last year’s sales. It was about $1.75M and for this year it is about $1.8M.

Cuban asked about their profits. Ashley highlighted that so far for this year, their profits are about $378K.

Kevin was curious to know about the medium through which they were selling the goggles. Karen replied that their product sells on Amazon and their own website. Their product is also available in multiple wholesales, swim schools, boutiques, and resorts. Basically, their product is now international.

 Lori inquired regarding their team. The mother highlighted that mostly they did the major work but they also have about 14 stay-at-home mothers who make goggles for them on a contract basis.

Herjavec wanted to know the selling price of the goggles and the cost of making them. Ashley related that the regular goggles retail for $21 and they cost them a little less than $3 to make per unit.

Kevin was curious to know their method of creating awareness regarding the goggles. The daughter replied that initially she launched her website and shared her product with mothers on Facebook. Their lifetime sales on advertisement are less than $150K.

Mr. Wonderful also asked about their plans regarding the $200K that they are asking for on the tank. Ashley mentioned that they want to make more molds for making goggles and also want to bring the product to larger sporting goods stores.

The shark wanted to know about the owner of the business. The business is basically owned half by the daughter and the other half by the mother.

Lori was interested to know their investment in the business. Karen pointed out that they each had invested $2400 in the business and then Karen had also loaned $4K for the initial orders.

Shark’s Response and Final Decision

Kevin was the first shark to drop the deal as he thinks they don’t need any investors and they are good on their own.

Herjavec was next in backing out of the deal because of the same reasons.

Lori offered them $200K for 10% equity in their company.

They then counter-offered Lori $200K for a 7.5% equity stake. Lori didn’t like the counteroffer.

Finally, the mother-daughter duo accepted Lori’s offer of $200K for a 10% equity stake and left the tank with a shark by their side.

Product’s Availability

Appearing on Shark Tank, the brand was introduced to millions of new customers right before summer. The deal with Lori has still not been finalized. The goggles can be found on Amazon, the brand’s Splash Place Swim Goggles website, and in hundreds of boutiques.

Conclusion

Ashley and Karen’s appearance on Shark Tank helped introduce Splash Place Swim Goggles to a wider audience, introducing their unique goggles with soft, stretchable straps that don’t tangle hair. With Lori as a partner after accepting her $200K investment for 10% equity, the mother-daughter duo is positioned for growth. Their goggles are now available on Amazon, their website, and in numerous boutiques, with plans to grow further into larger sporting goods stores.