{"id":802,"date":"2023-02-17T19:29:45","date_gmt":"2023-02-17T19:29:45","guid":{"rendered":"https:\/\/jhweb.tech\/?p=802"},"modified":"2023-07-28T13:11:39","modified_gmt":"2023-07-28T13:11:39","slug":"bombas-net-worth-and-history","status":"publish","type":"post","link":"https:\/\/jhweb.tech\/bombas-net-worth-and-history\/","title":{"rendered":"How Bombas Changed the Sock Game: Net Worth and History"},"content":{"rendered":"\n

Known for its fashionable socks, Bombas is a New York-based clothing line that helps homeless people through product donations. <\/p>\n\n\n\n

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The company appeared on Shark Tank\u2014a reality television show for entrepreneurs.\u00a0<\/em><\/strong><\/p>\n<\/blockquote>\n\n\n\n

If you want to learn more about the company, you\u2019re in the right place. This article discusses Bombas net worth and history. <\/p>\n\n\n\n

Besides that, it talks about how the company is doing after the Shark Tank<\/em> episode aired.\u00a0<\/p>\n\n\n\n

Bombas\u2019 2023 Net Worth <\/h2>\n\n\n\n

As of the first quarter of 2023, Bombas has an estimated net worth of $100 million. The company earned it from product sales and crowdfunding. <\/p>\n\n\n\n

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Less than a year after its inception, 9 months, to be specific, the company made $400,000 in revenue. Reports say that Bombas now earns $8.3 million per annum.\u00a0<\/em><\/strong><\/p>\n<\/blockquote>\n\n\n\n

About Bombas: A Brief History <\/h2>\n\n\n\n

Founded by business partners David Heath and Randy Goldberg in 2013, Bombas began when Heath came across a Facebook post that said, \u201cSocks were the most requested item for the homeless.\u201d <\/p>\n\n\n\n

The post inspired the two to launch a sock-manufacturing company. Their vision was to donate a pair of socks to the homeless for every pair sold, as TOMS<\/a> does with its products. <\/p>\n\n\n\n

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That same year, Bombas received funding amounting to $145,000 from Indiegogo\u2014a crowdfunding website. Likewise, the owner\u2019s family and friends seeded the company for $1 million.\u00a0<\/em><\/strong><\/p>\n<\/blockquote>\n\n\n\n

Four years after its founding, Bombas managed to sell and donate around four million pairs of socks. The company made its products available in shops like Dick\u2019s Sporting Goods and Nordstrom. <\/p>\n\n\n\n

About Bombas\u2019 Socks <\/h2>\n\n\n\n

It took the founders of this company 2 years to develop their products. That said, Bombas socks have features and benefits that other branded undergarments don\u2019t have. <\/p>\n\n\n\n

The arch support, seamless toes, blister tabs, and anti-microbial abilities make Bombas socks stand out. In fact, the brand\u2019s Women\u2019s Original Ankle Socks<\/a> received numerous positive reviews from online shoppers. <\/p>\n\n\n\n

Apart from socks, Bombas\u2019 product line includes underwear, slippers, and T-Shirts. <\/p>\n\n\n\n

Bombas Appears on Shark Tank <\/h2>\n\n\n\n

In September 2014, founders David and Randy appeared in Shark Tank’s<\/em> 6th season. The duo asked the investors for $200,000 in exchange for 5% equity.\u00a0<\/strong><\/p>\n\n\n\n

David told the investors about the company\u2019s one-for-one sock charity drive and how Bombas designs and manufactures its products. <\/p>\n\n\n\n

In the end, Daymond John offered Bombas founders the requested amount in exchange for a 17.5% stake in the company.\u00a0<\/strong><\/p>\n\n\n\n

Bombas After Shark Tank <\/h2>\n\n\n\n

The company prospered after David and Randy appeared on TV. <\/p>\n\n\n\n

In fact, Bombas earned more than $100 million worth of revenue in 2018. It was a breakthrough for the company. <\/p>\n\n\n\n

Yet, the duo\u2019s success didn\u2019t stop there. The company continues to thrive as it hits the $200 million revenue mark. <\/p>\n\n\n\n

Quick Facts About Bombas <\/h2>\n\n\n\n

Here are some quick facts about Bombas:  <\/p>\n\n\n\n