Bombas

14 statements across 1 episodes · 2 bullish · 0 bearish · 2 people on the record · first statement Oct 10, 2024 by Randy Goldberg · across every show →

Everything said about Bombas, oldest first

Oct 10, 2024
Assertion Supported
Goldberg: Bombas has donated over 140 million items after initial 1 million goal
“And we set a goal to donate a million pairs of socks in 10 years, and we're over a hundred and forty million items donated.”
Randy Goldberg Oct 10, 2024 ▶ 17:26 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024
Disclosure
Heath: Founders Validated Prototypes by Handing Them Out at Gyms
“Randy and I, we would, like, go to our local gym, and, you know, we'd be that weird, like, sock guy at the gym. Interrupt people's workouts. It'd be like, hey, take your headphones out. I saw you wearing these Nike socks. Can I give you a pair of these? Tell m…”
David Heath Oct 10, 2024 ▶ 11:37 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024
Disclosure
Heath: Core values account for 75% of Bombas's hiring interview process
“From day one, Our core values have been a large, it's 75% of our interview process. Every person who's interviewed is given a core value to test the person against, and so it becomes this filter of people.”
David Heath Oct 10, 2024 ▶ 22:29 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024 neutral
Assertion Not checkable as stated
Heath: Bombas hit $275M in sock sales before launching underwear
“By that point we were two hundred and seventy five million of top line in socks and we were like, okay, we now feel comfortable to start planting the seeds and intentionally keeping those businesses small to begin with and not trying to make them 20% of the bu…”
David Heath Oct 10, 2024 ▶ 26:11 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024 positive
Assertion Not checkable as stated
Heath: Daymond John was Bombas' number one Shark Tank target
“We had a hierarchy of sharks that we thought were better fits for us than others. You know, ending up with Damon, you know, built a billion dollar apparel brand New York based obviously was our number one choice. It's who we ended up with. But we had a strateg…”
David Heath Oct 10, 2024 ▶ 14:20 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024 neutral
Assertion Not publicly verifiable
Heath: Early Sock Market Was 85% Commodity and 15% Performance
“When we looked at the marketplace, we realized very quickly, 85% of all sock sales were dominated by the low cost, low quality commodity type brands. Think of 12 pairs of white socks in a plastic bag. You're going to get a Costco, Target, Walmart, TJ Maxx, wha…”
David Heath Oct 10, 2024 ▶ 5:12 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024
Assertion Not checkable as stated
Heath: Shark Tank drove $2M in Bombas sales within two months
“We've done about 900,000 in sales. All organically bootstrapped, you know, some press here and there. And then night of, weekend of, 300,000 in sales. Two months after, collectively two million in sales.”
David Heath Oct 10, 2024 ▶ 15:40 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024 neutral
Assertion Not checkable as stated
Heath: Socks make up 80% and footwear 15% of Bombas revenue
“Today Sox is still like 80% of the business Funny enough, our footwear business is our second largest category, despite launching a little bit after our underwear. It's like 15% of the business”
David Heath Oct 10, 2024 ▶ 26:57 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024
Assertion Not checkable as stated
Goldberg: Bombas Spent Two Years and Tested 137 Tension Levels Before Launch
“It took two years. Because we were obsessed, and test, for example, a 137 different tension levels on a calf sock, so it would stay up and not fall down, but wouldn't leave a mark on your leg.”
Randy Goldberg Oct 10, 2024 ▶ 9:12 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024 positive
Insight
Goldberg: Shark Tank prep forces startups to confront avoided business questions
“And it's actually a pretty good process for a young business to go through because they don't tell you what they're gonna ask you. They can ask you any question about your business on national television, and you have to have a good answer prepared. So we knew…”
Randy Goldberg Oct 10, 2024 ▶ 13:32 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024
Disclosure
Goldberg: Bombas engineers donation socks specifically for durability and homeless recipients' needs
“So on our core socks for us, for our paying customers, we tend to use a seamless toe which is really light, but less durable over time. Then reinforcing the seam. So things like that, the same base yarns, we're just, we're trying to make really smart products …”
Randy Goldberg Oct 10, 2024 ▶ 19:05 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024
Assertion Partly supported
Heath: Bombas raised $150,000 in initial 30-day Indiegogo crowdfunding campaign
“We launched this Indiegogo campaign. I think we had a goal of 15,000 dollars in 30 days, 30 days. We did over 20,000 dollars in our first day. A 150,000 dollars in our first 30 days.”
David Heath Oct 10, 2024 ▶ 10:50 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024 neutral
Assertion Not checkable as stated
Heath: Shark Tank reached out to Bombas to audition
“We got an email from Shark Tank that said, hey, do you wanna try out for Shark Tank?”
David Heath Oct 10, 2024 ▶ 12:41 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
Oct 10, 2024 neutral
Insight
Goldberg: Early E-Commerce Tech Was Expensive While Marketing Was Free
“If you could afford e-commerce at that moment, and you could afford to build a site, the marketing was basically free. Now that's totally flipped, right?”
Randy Goldberg Oct 10, 2024 ▶ 4:18 Bombas: From Shark Tank to over a BILLION in sales (with founders David Heath & Randy Goldberg)
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