Magic 5 Custom Goggles - Shark Tank Update

Custom swim goggles

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Season 13, Episode 4 Founded by Bo Haaber and Rasmus Barfred In Business

Magic 5 Custom Goggles Details

Shark Tank Episode Details

Founders Bo Haaber and Rasmus Barfred
Air Date 2021-10-29
Season & Episode Season 13, Episode 4
Initial Ask $500K for 2.5% equity
Deal Details Got deal: $1.0M for 6.5% equity from Robert Herjavec
Estimated Yearly Revenue $1 million
Estimated Net Worth (4x estimated revenue) $4 million

The Shark Tank Pitch

Danish-American entrepreneurs Bo Haaber and Rasmus Barfred brought a genuine technological innovation to Season 13 when they pitched Magic 5, a custom-fit swimming goggle company that used smartphone facial scanning technology to manufacture goggles with silicone seals precisely sculpted to each individual customer's unique facial geometry. The concept addressed a frustration that every swimmer knows intimately: the endless and often futile search for goggles that seal perfectly, don't leak during flip turns, don't leave red ring marks around the eyes after a long practice, and fog at the worst possible moments during competition.

The traditional goggle market had essentially operated on the same principle for decades - manufacture a limited number of standard sizes and hope that the distribution of human facial geometry was narrow enough that most swimmers would find an acceptable fit somewhere in the product range. Magic 5 rejected that compromise entirely.

Customers who ordered a pair of Magic 5 goggles would use the company's app to scan their face using their smartphone camera, creating a precise 3D model of their facial structure that informed the manufacturing of a custom-molded silicone gasket designed to match their exact contours. The goggles were then manufactured and shipped directly to the customer, with the fit guarantee backed by the precision of the scanning technology.

Beyond the customization technology, the goggles themselves featured premium optical clarity lenses with UV protection and anti-fog coating, ensuring that the fit advantage translated into an overall superior swimming experience rather than simply solving one problem while accepting others. The product was priced in the premium segment of the goggle market, reflecting both the customization cost and the genuine performance advantages the product delivered.

Bo and Rasmus had built the company to impressive scale before arriving on Shark Tank, with revenue and customer traction supporting a bold $500,000 ask for just 2.5% equity - implying a $20 million valuation that signaled their confidence in what they had already built and where they were heading, particularly in the elite competitive swimming and triathlon markets where peak performance equipment attracted committed, premium-paying athletes.

Where Are They Now?

Robert Herjavec's $1 million investment for 6.5% equity was a significant and strategically appropriate deal - Robert is himself an avid competitive triathlete who understood exactly what superior swimming equipment meant to performance-focused athletes, making him both a genuinely engaged investor and a credible brand ambassador for a product that earned its premium positioning. The deal valued Magic 5 at approximately $15.4 million, reflecting the company's demonstrated traction and the significant potential of expanding custom performance equipment into adjacent categories.

Following the Season 13 airing, Magic 5 experienced a major surge in new customer registrations as swimmers and triathletes who had been struggling with ill-fitting standard goggles rushed to try the product. The app-based scanning and customization process created a frictionless customer experience that supported strong conversion rates from curious viewers to paying customers.

The company has continued investing in the scanning technology's precision, introducing improved algorithms that capture facial measurements more accurately with each product generation, and expanding the goggle styles and lens options available in the custom portfolio so that competitive swimmers, open-water triathletes, and recreational pool users could all find purpose-built options within the Magic 5 system. Robert's triathlon community connections opened doors to sponsored athlete programs, team partnerships with swim clubs and university athletic programs, and presence at major triathlon events where Magic 5 demo booths allowed potential customers to experience the scan process in person.

Annual revenue has grown into the seven-figure range, with the brand establishing itself as a recognizable name in the competitive swimming and triathlon equipment space alongside legacy brands that had dominated the category for decades. The company has also explored international expansion, particularly in European markets where competitive swimming and triathlon culture has strong institutional and recreational participation bases that represent substantial addressable markets for premium customized performance equipment.

Revenue

$1 million

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