TheMagic5 Net Worth Shark Tank Update 2025 

Swimming is a fun activity that also helps people stay healthy, but many swimmers struggle with a common issue: their goggles don’t fit well. Poorly fitting goggles can leak, fog up, and cause discomfort, which is a big problem for serious swimmers who need reliable gear for their performance. 

To solve this, two enthusiastic triathletes, Bo Haaber and Rasmus Barfred, launched a company called The Magic 5. They developed a unique idea to make swimming goggles that are custom-fitted to each person’s face using advanced technology. This personalized approach really stood out, and it caught the eye of sharks on Shark Tank during its 13th season. 

During their appearance on the show, Bo and Rasmus sought $500,000 in exchange for 2.5% of their company. The episode followed their journey of pitching and negotiating their business, ultimately resulting in a significant investment that helped them grow their brand and reach more customers.

TheMagic5 Net Worth Shark Tank Update 2025 

Bo and Rasmus were looking for an investment of $500k in exchange for 2.5% equity in the company. At the time of the episode, they valued their company at $20 million. Bo and Rasmus successfully secured a deal with Robert Herjavec for an investment of $1 million for 6.5% equity in the company. The investment adjusted the company’s net worth to around $15.38 million. After the show was aired, The Magic 5 saw a big increase in website traffic, sales, and social media exposure. As per my rough estimate, the current net worth of The Magic 5 is around $25 million.

Shark(s) name	$500,000 for 5% equity million for 6% equity	Counteroffer	Accepted?
Nirav Tolia and kevin	$500,000 for 5% equity plus $3/unit royalty until $1.5 million repaid$500,000 for 4% equity plus $3/unit royalty until $1.5 million repaid$500,000 for 3% equity plus $3/unit royalty until $1.5 million repaid	N/A	No
Lori Greiner and Robert	$500,000 for 6% equity	N/A	No
Kevin O’Leary	Out	N/A	N/A
Robert Herjavec	$500,000 for 5% equity$1 million for 6% equity	N/A	Yes
Mark Cuban	$500,000 for 7.5% equity	N/A	No

Bo Haaber and Rasmus Barfred Backstory + Their Initial Pitch 

Bo Haaber and Rasmus Barfred are two triathletes who faced a common problem: their swim goggles never fit properly, which led to leaks and discomfort while training. Tired of struggling with ill-fitting goggles, they decided to take matters into their own hands. Drawing on their experience in technology and sports, they created a mobile app that can scan a person’s face and create a 3D model of it.

This model is then used to make custom-fit swim goggles using advanced robotics, ensuring that each pair fits the individual perfectly.

Their innovation addresses the typical issues swimmers face, like goggles leaking and being uncomfortable, ultimately improving the overall swimming experience. When they presented their idea on Shark Tank, they explained how their unique technology works, the problem it aims to solve, and their plans for future growth. They also showed impressive sales data, indicating that many people were excited about and satisfied with their new custom swim goggles.

Queries + Shark’s Responses, and Final Deal

Mark Cuban: He was curious about how the company could ramp up production if the demand for the goggles increased. The founders explained that their manufacturing is mostly automated, which means they can produce more goggles quickly and efficiently. Impressed by this, Mark offered $500,000 for a 7.5% share in the company, showing he sees potential in their technology beyond just swim goggles.

Kevin O’Leary and Nirav Tolia: These two investors focused on the numbers, questioning the company’s valuation of $20 million and the cost of acquiring each customer, which was $24. The founders defended their valuation by pointing out their innovative technology and growing customer base. Kevin and Nirav offered the same amount of $500,000, but for a 5% share, plus a $3 royalty for each unit sold until they recouped $1.5 million.

Lori Greiner: She was interested in how the product would be sold in stores. The founders mentioned that they mainly sell directly to customers through their website to keep control over quality. Lori responded by offering $500,000 for a 6% share, expressing confidence in their direct selling model.

Robert Herjavec: As someone who has experience in athletics, Robert understood the need for well-fitting goggles. He asked about customer feedback and was pleased to hear about the positive responses from over 40,000 customers. Initially, he offered $500,000 for 5% of the company, but later increased it to $1 million for a 6.5% share to ensure he got the deal. The founders accepted his offer, valuing his experience and support for their product. 

Product Availability

The Magic 5 is a company that makes swimming goggles specifically designed to fit your face perfectly. Instead of a one-size-fits-all approach, these goggles are tailored to match your unique facial features. You can buy them directly from their website. 

To order a pair, you can use their mobile app to scan your face, which helps create a custom fit just for you. The goggles come in different styles and colors, and they cost between $80 and $90. The company promises that if the goggles don’t fit right, they’ll make it right, thanks to their 100% fit guarantee. 

If you prefer shopping through Amazon, you can also find The Magic 5 goggles there, making it easy for more people to get them.

What Happened To The TheMagic5 After Shark Tank?

The Magic 5 is a company that sells custom-fit swim goggles, which gained a lot of attention after appearing on Shark Tank. Because of this exposure, their website saw a huge spike in visitors, resulting in $45,000 in sales just one day after the episode aired. Since then, they have sold over 85,000 goggles and made more than $4.1 million in total revenue. 

The company has grown by offering various styles of goggles for different users, like competitive swimmers, casual swimmers, and triathletes. The appearance on “Shark Tank” significantly boosted their brand recognition and helped them gain trust from new customers.

After the show, they partnered with Robert Herjavec who began mentoring the founders to help the business expand. With his guidance, they improved their shipping processes, made their app better at scanning users’ faces for custom fit, and developed new marketing strategies to reach customers all over the world.

The Magic 5 also sought partnerships with sports clubs, swimming schools, and professional athletes to increase their visibility in the market. They received coverage in various sports and tech magazines, highlighting their innovative approach to swim gear. In 2023, The Magic 5 took their business global by allowing international shipping for custom-fit goggles.

They also introduced additional swim accessories, like anti-fog sprays and protective cases, which complement their goggles. 

Conclusion 

The Magic 5 is a company that makes custom swim goggles. The founders, Bo Haaber and Rasmus Barfred, started the company because they were frustrated with the way regular swim goggles fit. They wanted something better, so they used technology to create a solution that fits each individual swimmer perfectly.

They scanned people’s faces to design goggles that match their unique shapes, which makes them more comfortable and effective. This innovative approach turned their personal problem into a successful business.

When they appeared on Shark Tank, they not only got a significant investment from investor Robert Herjavec but also gained a lot of attention for their brand. This helped them grow their company and reach swimmers globally, changing the way swim goggles are made and sold.