Trophy Smacks is an online trophy design company that appeared in Shark Tank Season 12 Episode 9 and asked Shark for $600,000 in return for 8% equity. When TrophySmacks asked for funding in Shark Tank, the company was valued at $7.5 million.
The founders of Trophy Smacks, Matt Walsh and Dax Holt, are fantasy sports addicts who started this company to fulfill their passion.
This Trophy Smacks company comes from the fantasy sports industry and if we talk about fantasy sports, then this industry is worth $18.6 billion In 2019.
According to the Fantasy Sports Gaming Association (FSGA), 59.3 million people played fantasy sports in the United States and Canada in 2017.
This fantasy sport includes many games, it comes basketball and soccer, football but more than 70% of the people in the whole world play football game. According to a 2021 report, the global market size of a football is $3.02 billion.
Football is played as a popular sport in every country. This includes players like Cristiano Ronaldo and Lionel Messi in the list of top players of football.
If we Compare fantasy sports with NFL, then NFL has a market size of $0.26 billion and as of 2011 NFL had only 32 teams and 1,696 players. Football or other sports is much bigger than NFL in market size.
If we talk about the sports league championships of the NFL, then there are top 3 tournaments in it, it includes Super Bowl, NFC championship game, and AFC Championship Game.
Dax Holt and Matt Walsh are both fantasy sports players and understand the industry very well. He enjoys a lot by celebrating and watching his team win. But he saw that the trophy used by the league is very simple and old-fashioned.
Due to this reason, both of them together started a startup named TrophySmack in 2017. This TrophySmack company makes different types of trophies for fantasy sports whether local or national.
For a fantasy champion, the trophy is an important part, but the trophy is kept in the head year after year, and changes in it are very less.
What Is Trophy Smack?
TrophySmack Orange, California Base is an innovative awards manufacturer that manufactures unique and customizable trophies, championship rings, belts, and related products.
Trophy smack is used to design trophies for different types of sports, including Football Trophies, Baseball Trophies, Basketball Trophies, Soccer Trophies, Hockey Trophies, Golf Trophies, Youth Sports, Esports & Gaming.
If you organize a fantasy football tournament, if it doesn’t have a grand trophy, it won’t be comfortable for the winning team. Although it has been seen that in most games, a trophy is given to the winning or losing team.
If there is a good trophy for the winning team, they love it. Fantasy sports are played in college, school, or any event, etc. And the winning team is given their prize in the form of a trophy.
If you want to customize the trophy as per your choice then you can get it done.
Trophy Smack Shark Tank Update
|Company Name||Trophy Smack|
|Founder||Matt Walsh and Dax Holt|
|Product||customize your own fantasy sports trophies, rings, and belts|
|Asked For||$600,000 for 8% equity|
|Final Deal||$600,000 for 17% equity|
|Episode (Shark Tank USA)||Season 12 Episode 9|
|Air Date||January 8, 2021|
|Business Status||In Business|
|Net Worth||$10 Million *estimated|
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TrophySmack Contact Details
|Place||Orange, California, United States|
Who Is The Founder Of TrophySmack? – Matt Walsh and Dax Holt Shark Tank
Matt Walsh and Dax Holt, both of them are the co-founders of this startup, in 2017 they started this company named TrophySmack.
Dax Holt is a popular American reporter as well as an Emmy-nominated producer, entrepreneur, and podcaster. This has been his 14 years of experience in the entertainment industry. He earned his bachelor’s degree from California State University, Fullerton.
Matt Walsh is also an Entrepreneur, Supply Chain & Logistics He has very good knowledge about Logistics. Matt 13 Years in Venture Logistics, Inc. Been running the company.
He is currently on the Board of Directors of CSCMP Southern California Rowndable and for 10 years has been a Supply Chain Consultant for Echo Global Logistics.
Trophy Smack Before Shark Tank
Trophy Smack had a good start as an e-commerce business and provides Unique and Customizable Products such as trophies, rings, and championship belts.
In this business, Matt handles the logistics and supply chain and Dax oversees its design and product sales.
Matt won the Ek The FSGA elevator pitch in 2018, a pitch contest for fantasy sports league-related products.
The trophies that they have, they customize according to the user’s choice. They have thousands of unique fantasy trophy combinations and metal colors in sizes 26″-56.
When Trophy Smacks was officially launched in 2017, they were making customized trophies more than just football.
But as he saw the scope of his product increasing, he started venturing into more sports categories. Now he has also gone to Baseball, Basketball & Soccer Trophies, Esports & Gaming, etc.
Did Trophy Smack Get a Deal on Shark Tank?
Matt & Dax, the founder of Trophy Smack, pitched his product to Shark quite well, and the Shark also liked it. He asked Shark for $600,000 for his company in exchange for 6% equity of his company.
Starting out with Trophy Smack, he had invested a total of $250,000, which is a lot of money for a business.
When it was launched it was going very slowly till it made only $60,000. All their products were sold during week 3 of the fantasy football draft season, with the average price of this product ranging from $150 to $200.
The average profit margin in this business is 80% which is very good for this business. The sharks were completely surprised after hearing this.
In the first year of January 2018, he made $850,000 in revenue. During 2019, their revenue increased to $1.9 million. He has a gross profit of $775K in this revenue and his net worth is $500K.
Daymond John said that he respects athletes and he also respects sports fans. When he got married, he had promised that he would never watch a sports game. So he cannot invest in it now.
Kevin O’Leary had to say about this business that he works in the corporate market, and he has very good knowledge of this market. So his offer was $600k for 20% equity on this business.
Mark Cuban also felt that 8% is not enough in this business so he wants to offer $600k for 17% equity, in this the company’s valuation is $3.5 million.
Lori Greiner had an interest to deal with this company: But Mark said that if the founder listens to Lori’s offer, then he is out.
Due to Mark’s statement, Matt & Dax signed a deal with Mark for $600k for 17% equity.
What Happened To Trophy Smack After Shark Tank?
Trophy Smacks Received Deal From Shark Tank Episodes At $3.5 Million Valuation By Mark. This mark is also associated with this business in July 2022.
Prior to Shark Tank, the Trophy Smacks only worked on football, but after Shark Tank, they moved into different fantasy sports categories.
Ever since this company is associated with Mark, every year of its growth there is some difference. Its annual revenue was $1 million in July 2021.
The month after the episode was released, the company make record-breaking sales of $1.2 million in total.
This company has also received Fantasy Sports Awards and Creating Awards. Mark is also very impressed by investing in this business.
Mark said about this company that he invested in because this is a guy who is selling machines and he liked this product.
In July 2022, this company hired +50 employees for the manufacturing and sales department. So far its lifetime total sales are $10 million.
Where Can Buy Trophy Smack?
If you want to celebrate the victory or defeat of your favorite team, then it is good to have a trophy. Trophy Smacks brings you the trophy for both the winner and the loser with the design of their choice. You can buy this trophy from Amazon or their official website Trofimak, its price can range from $60 to $200.
What Is Trophy Smack Net Worth?
When Trophy Smack got a deal from Shark Tank, its trophy had sold $1 million in just one month. Most of its sales are during the sports season like football, basketball, soccer, etc. in the game season. A few years back, this company achieved $10 million in lifetime sales. So we can guess that Trophy Smack’s Net Worth will be more than $10 million.
Is Trophy Smack Still In Business?
Yes, Trophy Smack is still running very well and is looking to boost its sales gradually over the years.
Matt & Dax is a good partner for this business, they have grown its sales very well, and now Mark is also guiding them.
In this business, the owner is getting a profit margin of 80% but this increases the price of the product. We believe that if its margin is increased to 50% or 60%, then it can grow even faster.
Though still TrophySmack is running in profit, it has a lot of competitors in the fantasy sports industry but even then it is growing.
Mark is very happy to invest in this company and he finds it a good deal.
Content Photo Credit: Amazon.com & trophysmack.com