Bombas Shark Tank story: from pitch to billion-dollar brand
The story of Bombas Shark Tank began with a mission to meet a basic need. Co-founders David Heath and Randy Goldberg turned socks into a force for change. Its one-for-one donation promise resonated with both customers and investors. Having achieved over $2 billion in sales, their story showcases how impact and profit can thrive together.
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TABLE OF CONTENTS
- Key takeaways
- Bombas Shark Tank profile
- A look into Bombas Shark Tank founders
- What happened to Bombas from Shark Tank?
- Bombas Shark Tank’s developments
- What is Bombas Shark Tank's net worth?
- Bombas Shark Tank update
- Does Daymond John still own Bombas?
- How much did Damon make on Bombas?
- Did Bombas get a deal on Shark Tank?
Key takeaways
- Bombas was founded in 2013 by David Heath and Randy Goldberg.
- Daymond John invested $200,000 for 17.5% equity in Bombas on Shark Tank Season 6 in 2014.
- Bombas became profitable by 2016, with nearly $50 million in sales that year.
- The company has achieved over $2 billion in lifetime sales by 2025.
- More than $150 million worth of clothing items have been donated through Bombas’ one-for-one giving model.
Bombas Shark Tank profile
| Attribute | Details |
| Founders | David Heath and Randy Goldberg |
| Year founded | 2013 |
| Deal secured | $200,000 for 17.5% equity with Daymond John |
| Current products | Socks, underwear, T-shirts, slippers |
| Lifetime sales (as of 2025) | Over $2 billion |
| Items donated (as of 2025) | Over 150 million clothing items |
| Employees | Around 200 (as of 2025) |
| Funding raised | About $150 million |
| Major investors | Daymond John, Great Hill Partners (majority stake since 2018) |
A look into Bombas Shark Tank founders
Bombas was co-founded in 2013 by David Heath (CEO) and Randy Goldberg (Chief Brand Officer) after they discovered socks were the most requested (clothing) item at homeless shelters. They spent two years engineering a premium sock with features like extra cushioning and a non-slip toe seam.
David and Randy Goldberg pledged a one‐for‐one giving model where for every pair sold, Bombas donates a pair to someone in need. Heath later described seeing that homeless-shelter statistic as a lightbulb moment” that sparked Bombas’ mission. David Heath said,
Maybe there’s a way to solve this problem in the homeless community by starting a brand that donates a pair of socks for every pair of socks sold.
Goldberg and Heath had been friends since 2007 and initially toyed with starting a venture. But that Facebook fact about homeless socks drove them to carry extra pairs in their bags and give them away – and eventually build a business around generosity.
What happened to Bombas from Shark Tank?
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Bombas appeared on Shark Tank in 2014 seeking $200K for 5% of the company. They struck a deal on-air with the American businessman and TV personality Shark Daymond John, who invested $200,000 for 17.5% of Bombas. The founders had pitched at a $4M valuation, but John negotiated the higher equity.
The Bombas founders had chosen Daymond deliberately, as Goldberg said they needed somebody like him to challenge them. As reported by The Entrepreneur, Randy Goldberg expressed his take on the deal with Daymond, saying;
[We needed] somebody like that in our corner, validating and challenging us. That's why we wanted Daymond as a shark. And it's been a fruitful and amazing relationship.
Bombas went on to become the Shark Tank franchise’s most successful [deal] of all time, eventually surpassing $1 billion in lifetime revenue. By 2023, Bombas had logged about $1–1.3B in sales, and by 2025, it had surpassed $2 billion in lifetime sales.
Bombas Shark Tank’s developments
Bombas grew rapidly after appearing on the TV show Shark Tank. By 2016, it was profitable, and by 2018, it had about 80 employees and approximately $100 million in annual revenue. AP News reported Bombas’ first profit in 2016, with nearly $50 M in sales that year.
In the past decade, Bombas raised roughly $150 million in venture funding. In 2023, Bombas was on pace for roughly $300–325 million in sales.
Bombas’ success also made it a certified B Corporation (2017) and a national brand. Its products are carried at retailers like Nordstrom. The company reports that approximately 7% of its revenue comes from wholesale deals with retailers.
What is Bombas Shark Tank's net worth?
Because Bombas is private, no official valuation is public. However, observers note the valuation must be in the multiple of billions given its revenue run-rate. According to The Shark Tank Blog, the company’s net worth is pegged at around $3.42 billion.
Bombas Shark Tank update
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Bombas has expanded well beyond socks. In 2019, the founders noted that underwear and t-shirts were the second and third-most-requested items by shelters, so they began making those as well.
As of 2025, Bombas sells premium socks and apparel basics, including underwear, T-shirts and slippers. The product line launched the sandal and slipper collection in the 2020s. These products are sold DTC online and through big retailers.
Does Daymond John still own Bombas?
Daymond John still holds his original Shark Tank equity stake in Bombas, which was 17.5% at the time of his investment. However, his percentage has since been diluted by outside investors.
In 2018, Great Hill Partners acquired a majority stake in Bombas through a deal advised by The Sage Group, which reduced John’s ownership share. Despite the dilution, he remains an investor in Bombas.
How much did Damon make on Bombas?
The TV personality's precise payout figures are not public. What is clear is that Daymond’s $200,000 investment has returned far more than that initial amount.
Analysts have estimated Daymond’s 17.5% stake is now worth on the order of tens or hundreds of millions of dollars as Bombas grew into the multi-billion-dollar company it is today.
Did Bombas get a deal on Shark Tank?
Bombas did secure a deal on Shark Tank. In 2014, co-founders David Heath and Randy Goldberg appeared on Season 6 of the Bombas Shark Tank Episode, asking for US$200,000 for 5% equity in their company. They ended up making a deal with Shark Daymond John, who invested $200,000 in exchange for 17.5% equity.
The Bombas Shark Tank journey shows how a simple idea backed by purpose can transform into a billion-dollar brand. What began as a sock company with a giving mission has grown into a household name with underwear, T-shirts, and slippers. Today, Bombas stands as one of the most profitable and socially driven businesses ever featured on Shark Tank.
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Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
