Mark Cuban gives bold ultimatum after ‘Shark Tank’ founders make Sharks try their wild workout device on-air
On 'Shark Tank' Season 4, contestants Mike Hartwick and Sarah Ponn came forth with a one-of-a-kind product line. They pitched the world’s first total body training equipment designed to mimic the instability of a surfboard on water. The product, called the RipSurfer X, is a surfboard-shaped piece of workout equipment from their company, Surfset Fitness. With their appearance on the show, Mike and Sarah showcased a bold new take on fitness that stood out in the crowded wellness market.
In the episode, Mike Hartwick and Sarah Ponn even invited Robert Herjavec to try the RipSurfer X himself. Once the Sharks had tested the product and the initial excitement had settled, it was time to talk numbers. According to Shark Tank Recap, the duo revealed they had made $150,000 in sales over the past four months. They also shared that the product had been featured on 'Good Morning America' and Access Hollywood, which helped drive exposure and boost revenue. As the pitch progressed, Daymond John raised questions about their $1.5 million valuation. Hartwick explained that it was based on over 200 franchise inquiries, signaling strong public interest and significant growth potential.
Impressed by their traction, Mark Cuban was the first to make an offer: $300,000 in exchange for 33% equity. He also recognized the value of the company and believed that live demonstrations, along with endorsements from professional surfers, would play a key role in promoting the product. Herjavec, however, disagreed on the need to involve pro athletes and countered with an offer of $150,000 for 20% equity. John quickly followed with his own offer of $150,000 for 25% equity, adding that he would also cover all manufacturing costs for the RipSurfer X.
Barbara Corcoran then asked if Cuban would allow her to join him in the deal. However, the Shark said no, and Corcoran went out. Kevin O’Leary asked John if he was willing to go in with him. The Shark, however, obliged. The contestant now had three offers to choose from. But what came next was even more interesting. Cuban upped the ante by imposing his personal “24-second shot clock” on the deal. The contestant then countered Cuban, asking if he was ready to come down in equity at all. To which he agreed and offered to do $300,000 for 30%, but only if the entrepreneur would say yes immediately.
John suggested that the contestants not take Cuban’s deal; however, the entrepreneurs went ahead with the former shark on the show. In the future, Hartwick left the company. Surfset Fitness, however, continued to thrive as of 2023. The company even had Surfset-certified trainers and classes in more than 30 cities nationwide. According to Shark Tank Blog, as of April 2024, the annual revenue of the company was $8 million.