Slyde is a water sports company that produces a body surfing toy that is both fun and functional. Their invention allows you to body surf without having to use a traditional board, making it a great alternative for anyone who is looking for an adrenaline rush but doesn’t want to fork out hundreds of dollars on a new surfboard. This product has been popular with the surfing crowd, especially those who like the idea of being able to get out on the water without a full on surfboard. It also allows you to get a better handle on the waves.
When the show Shark Tank premiered in April 2016, it featured the Slyde Handboard. In fact, Steve Watts and Angela Ferendo presented this device to the panel. The device works by attaching to the hands, giving users the ability to body surf with greater ease. As of the time of this writing, the Slyde has sold in more than 15 states and has a projected net worth of $295,000 by the end of the year.
Another toy that made a splash on the show is the Slyde Grom soft board. This gizmo is said to be worth $2-$2.5 million in sales by 2022. The board is currently being distributed through Dick’s Sporting Goods, which is where Mark Cuban’s name may come from. If you’re a Sharks fan, it seems you will have to make a trip to Dick’s to find one. However, they’ve got stores in over 80 locations around the country.
There’s no question that the Slyde Handboard is a fun toy, but it’s not all good. The device is a small step up from the simplest of hand-held surfboards, but it’s certainly not the most sophisticated of products. For example, Steve and Angela are asking for a $200,000 investment and a 15% share of the business, which is not a small ask, especially in a field where the average startup costs between $300,000 and $500,000. They are also borrowing money to fund the project, so the credit card bill is sure to pile up.
One of the more exciting things to learn about Slyde is that it is the only water-sporting activity to receive a mention on Shark Tank. That’s right, Sharks will get to see a few Slyde products in action before the show’s finale in October. Not only will they be able to get a glimpse of their favorite surfboards, but they’ll be able to give the company a hand. Since the show’s premiere, the Slyde has been a wildly successful venture.
While the Slyde was not one of the first companies to hit the Shark Tank, it definitely deserves a shout out. Even Ashton Kutcher has been known to take an interest in the company, and this is something to look out for as Slyde continues to expand and grow. Hopefully, their product will help keep them afloat as they take their next steps. Those who’ve purchased a Slyde have likely hoped for more than a simple mention on the show.