GRIND Basketball is a sports training equipment company that gained widespread recognition after its appearance on the popular television show Shark Tank in 2015.
The company’s founder, Thomas Fields, pitched his product as a unique and innovative way for basketball players to improve the game by increasing their dribbling skills and ball control. The Sharks were impressed with the product and its potential, and Mark Cuban along with Barbara Corcoran ultimately invested $250,000 in exchange for a 25% stake in the company.
Since its appearance on Shark Tank, GRIND Basketball has experienced both successes and challenges. The company has continued to expand its product line and has been featured in numerous publications and media outlets. However, the road to success has not been without its bumps, and the founders have had to navigate various obstacles in order to keep the company growing.
In this article, we will take a closer look at what happened to GRIND Basketball after Shark Tank. We will examine the challenges the company has faced, including issues with manufacturing, distribution, and marketing. We will also explore the ways in which the founders have adapted and pivoted in order to keep the company afloat and continue growing. Additionally, we will analyze the impact of Mark Cuban’s investment and involvement in the company, and how it has influenced GRIND Basketball’s trajectory.
This article will provide a comprehensive overview of the ups and downs of GRIND Basketball’s journey since its appearance on Shark Tank. It will offer insights into the challenges that many entrepreneurs face when starting and growing a business, and the strategies that can be employed to overcome these obstacles.
What Is GRIND Basketball?
Grind basketball refers to a style of play characterized by intense physical exertion and relentless determination. The term originated from the colloquialism “grinding”, which refers to working hard and pushing through difficult challenges. In basketball, grind basketball is accomplished through the tenacious defense, rebounding, and aggressive play on the court. This style of play is not just limited to the professional level but can be observed at every level of the game, including college and high school basketball [1].
Grind basketball got its name from the attitude and determination necessary to play through adversity. Players who embrace this style of play are often known for their physical toughness, mental fortitude, and willingness to go above and beyond for the team’s success. Grind basketball players are not afraid to take on tough assignments on defense, diving for loose balls, or taking charges. They also excel in rebounding, both offensively and defensively, as well as setting screens, cutting to the basket, and fighting for position in the post.
Grind basketball teams are characterized by their high level of intensity and work ethic. The team philosophy revolves around hard work and grit. The players are taught to never give up and to always play hard, regardless of the score or situation.
GRIND Basketball is a portable basketball training machine that appeared on Season 12 of the hit TV show Shark Tank. The founder of GRIND Basketball is Thomas Fields, a former high school basketball star who recognized the need for a more affordable and accessible way for players to improve their skills. The machine is designed to help players practice shooting, passing, and ball handling, and can be used for both individual and team training.
The GRIND Basketball machine is unique in that it is portable and can be easily transported from one location to another. This makes it ideal for players who do not have access to a dedicated training facility or who need to practice on the go. The machine is also adjustable, allowing players to customize the height, angle, and speed of the shots in order to replicate game situations.
The cost of the GRIND Basketball machine is $3,299, which is significantly less than other basketball training equipment on the market. This makes it an affordable option for basketball programs at all levels, from high schools to professional teams. The company offers financing options to help make the machine more accessible to players and teams, and the machine also comes with a one-year warranty.
While the GRIND Basketball machine itself is innovative, the true value of the product lies in the training programs and resources offered by the company. GRIND Basketball provides a variety of training videos and drills, as well as virtual coaching and analytics to help players track their progress and identify areas for improvement. The company also offers team training packages and has partnerships with a number of high school and college programs.
About The Founders Of GRIND Basketball
GRIND Basketball, the portable basketball training machine was founded by Thomas Fields. Thomas Fields, a native of Houston, Texas, played basketball for Heights High School until he suffered multiple ACL injuries, resulting in four surgeries.
Forced to pursue a different path, he enrolled at the University of Houston’s CT Bauer College of Business, where he became a speaker for the startup accelerator REDLabs and participated in MIT Sloan School of Management’s Success Initiative Program.
By 2017, he had joined the board of directors of TXRX Labs, a non-profit hackerspace that fosters collaboration among creatives. The following year, he became a member of MIT Media Lab [2].
With the help of co-founder Kameron Williams, Fields launched GRIND Basketball in 2018. The duo worked tirelessly to design and develop the machine, which they tested extensively on the court. They wanted to ensure that the machine was effective, durable, and easy to use, while also being affordable for players and teams.
Fields and Williams also recognized the potential of the technology behind the machine. They understood that the data collected by the GRIND Basketball machine could help players track their progress and identify areas for improvement. To this end, they created a variety of training videos and drills, as well as virtual coaching and analytics tools.
In addition to their work with GRIND Basketball, Fields and Williams are active members of their local community. They have partnered with a variety of organizations to promote basketball and provide opportunities for young people. They also give back through charitable donations and volunteer work.
The Pitch Of GRIND Basketball At Shark Tank
GRIND Basketball, the innovative training machine designed to help players improve their skills on the court, made its debut on Season 12 of Shark Tank. The founders, Thomas Fields, and Kameron Williams presented the machine to the Sharks and made a compelling pitch for their product.
Fields and Williams began their pitch by highlighting the problem they were trying to solve: the high cost and limited accessibility of basketball training equipment. They emphasized that their machine was portable and affordable, making it an ideal option for players and teams at all levels. They also highlighted the versatility of the machine, which can be used for shooting, passing, and ball-handling drills.
Next, the founders demonstrated how the machine worked, showing how it can be adjusted to accommodate players of all heights and replicate game situations. They also emphasized the training programs and resources offered by their company, which include virtual coaching and analytics tools to help players track their progress.
The Sharks were impressed by the GRIND Basketball machine and its potential for disrupting the basketball training industry. Cuban and guest Shark Charles Barkley was particularly interested in the technology behind the machine and the data it collects. However, some of the Sharks expressed concern about the high cost of the machine, which was priced at $3,299.
In the end, Fields and Williams struck a deal with Sharks Mark Cuban and Barbara Corcoran for $250,000 in exchange for a 20% stake in the company. The deal included a promise from the Sharks to help the company scale and expand its reach [3].
The pitch of GRIND Basketball at Shark Tank was a success, showcasing the founders’ passion and commitment to helping players improve their skills on the court. The Sharks recognized the potential of the product and the value of the technology and training programs offered by the company. The deal they struck will likely help the company grow and succeed in the competitive basketball training market.
GRIND Basketball After The Shark Tank
After appearing on Shark Tank, GRIND Basketball saw a surge of interest and support from players, coaches, and entrepreneurs. The exposure from the show and the deal they struck with Mark Cuban and Barbara Corcoran helped the company grow and expand its reach.
Following the initial setback, Grind successfully shipped the first pre-order batch and delivered the second batch in early 2021, with only 20% of orders remaining. As a result, Grind generated $1 million in revenue for the year. Currently, Grind is focusing on fulfilling new orders on its website, GrindBasketball.com, while simultaneously enhancing its product.
Grind participated in the Techstars Sports Accelerator program after their appearance on Shark Tank, which enabled them to raise $1.6 million. However, no sales figures for 2022 have been disclosed by Thomas and his team. The company remains stable and is currently valued at an estimated $2 million.
Since the show, GRIND Basketball has continued to innovate and improve its product line. They have added new training programs, drills, and resources to help players improve their skills and track their progress. They have also expanded their online presence, with a robust social media presence and a dedicated YouTube channel that offers instructional videos and behind-the-scenes glimpses of the company.
The Net Worth Of GRIND Basketball
According to various sources, the net worth of GRIND Basketball is estimated to be around $1 million to $2 million. This valuation takes into account the company’s revenue, profit margins, and overall growth potential. After appearing on Shark Tank and securing a deal with Mark Cuban and Barbara Corcoran, the company was able to scale and expand its reach, further driving its value.
GRIND Basketball’s success has been fueled by its innovative approach to basketball training and its commitment to accessibility and affordability. By offering a portable and versatile training machine at a relatively low price point, the company has been able to attract a wide audience of players and teams seeking to improve their skills on the court. Additionally, the company’s focus on community and collaboration has helped it build a loyal fan base and a strong reputation in the basketball world.
Alternatives To GRIND Basketball:
- Shoot-A-Way. Similar to GRIND, Shoot-A-Way is a basketball training machine that helps players improve their shooting skills. The machine is designed to simulate game-like conditions, with adjustable settings for arc, speed, and rotation. Shoot-A-Way also offers a variety of training programs and resources to help players track their progress and refine their shooting technique;
- The Gun 8000. Another basketball training machine, The Gun 8000 is designed to help players improve their shooting accuracy and speed. The machine can hold up to 8000 basketballs and can be adjusted to shoot from various spots on the court. The Gun 8000 also offers a range of training programs and drills, as well as a mobile app to track progress and performance;
- Pure Sweat Basketball. Unlike the other options on this list, Pure Sweat Basketball is a personalized training program that focuses on all aspects of basketball skill development. Led by former NBA trainer Drew Hanlen, Pure Sweat offers one-on-one coaching sessions, skill development camps, and online resources for players of all ages and experience levels;
- HomeCourt. This app-based training program uses artificial intelligence and machine learning to track key metrics like shot accuracy, speed, and trajectory. HomeCourt offers a variety of interactive training drills and games to help players improve their skills and compete with others around the world. The app also offers virtual coaching and personalized feedback to help players reach their full potential [5];
FAQ:
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How did Grind Basketball get on Shark Tank?
Grind Basketball’s founder, Thomas Fields applied to be on Shark Tank and was ultimately selected to appear on the show. During his pitch, he explained the benefits and features of the machine and secured a deal with Mark Cuban and Barbara Corcoran.
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What is the cost of a Grind Basketball machine?
The cost of a Grind Basketball machine is around $1,500. However, the company offers monthly payment plans through Affirm for orders over $50 to make the product more accessible to players and teams.
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How does Grind Basketball compare to other basketball training programs?
Grind Basketball offers a unique machine-based approach that allows players to get more reps and improve their technique through targeted and repetitive training. Other programs, like Pure Sweat Basketball and HomeCourt, offer more personalized coaching and holistic skill development, but may not provide the same level of repetition and access to shooting drills and programs.
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What types of players can benefit from Grind Basketball?
Grind Basketball is designed for players of all ages and skill levels, from amateur to professional. The machine is especially helpful for players looking to improve their shooting accuracy, speed, and endurance, and can be used for solo training or group practices.
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How can I purchase a Grind Basketball machine?
Grind Basketball machines can be purchased directly from the company’s website or through authorized distributors. The company also occasionally offers discounts and promotions to make the product more accessible to players and teams.
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Which U.S. company is best in basketball?
It is subjective to determine which U.S. company is best in basketball, as there are several companies involved in the production and distribution of basketball equipment and apparel. However, some of the most popular brands include Nike, Adidas, Under Armour, and Jordan. These companies have partnerships with several NBA players and teams, and they offer a wide range of basketball shoes, clothing, and accessories.
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Did the Sharks lose money on Breathometer?
Breathometer, a company that developed a smartphone breathalyzer device, appeared on Shark Tank in 2013 and secured a $250,000 investment from Shark Kevin O’Leary. However, in 2017, the Federal Trade Commission charged Breathometer with making false and deceptive claims about the accuracy of its products. As a result, the company was forced to offer refunds to customers who purchased its products. It is unclear if the Sharks lost money on their investment, but the company’s reputation was certainly damaged [6].
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Is David Abrahamovitch the founder of Grind?
David Abrahamovitch is not the founder of Grind, a London-based chain of coffee shops and restaurants. Grind was founded by David Abrahamovitch and Kaz James in 2011. The company has since expanded to several locations in London and has diversified its offerings to include coffee, cocktails, and food.
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What companies failed on Shark Tank?
Several companies have failed on Shark Tank, as not every investment or product is successful. Some notable examples include [7]:
- ToyGaroo, a company that offered a subscription service for children’s toys, failed to secure a deal on Season 2;
- Copa di Vino, a single-serve wine company, appeared in Season 2 but was later sued by investor Barbara Corcoran for breach of contract;
- UroClub, a golf club with a hidden compartment for urination, failed to secure a deal on Season 4;
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What is the #1 product in Shark Tank history?
The #1 product in Shark Tank history in terms of total sales is Scrub Daddy, a smiley-faced sponge that changes texture based on water temperature. Scrub Daddy has generated over $209 million in sales since appearing on Shark Tank in 2012.
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How much is Lori from Shark Tank worth?
Lori Greiner, also known as the “Queen of QVC”, is one of the Sharks on Shark Tank. As of 2023, Lori’s estimated net worth is around $200 million. She has invested in several successful products on the show, including Scrub Daddy and the Simply Fit Board.
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Has Shark Tank made anyone rich?
Shark Tank has certainly made several people rich, both the entrepreneurs who secured deals with the Sharks and the Sharks themselves.
Some notable success stories from the show include:
- Scrub Daddy, which has generated over $209 million in sales since appearing on the show;
- Squatty Potty, which has sold over 4 million units and generated over $164 million in sales;
- Ring, a smart doorbell company that was acquired by Amazon for over $1 billion in 2018;
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Is there a billionaire in Shark Tank?
As of 2023, there is no current Shark Tank cast member who is a billionaire. However, several Sharks have a net worth of over $1 billion, including Mark Cuban and Kevin O’Leary [8].
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How many Shark Tank deals failed?
It is difficult to determine the exact number of Shark Tank deals that have failed, as some deals may fail to materialize after the show airs or may not be made public. However, some estimates suggest that up to 70% of Shark Tank deals do not go through after the show. This may be due.
Useful Video: Grind Basketball Agonizes Over Equity – Shark Tank
References:
- https://www.looper.com/738932/what-happened-to-grind-basketball-after-shark-tank
- https://sharktanktalks.com/grind-basketball-shark-tank-update/
- https://techiegamers.com/grind-net-worth/
- https://www.sharktankblog.com/business/grind/
- https://biznewske.com/grind-basketball-shooting-machine-net-worth/
- https://sharktankrecap.com/shark-tank-grind-basketball-shooting-machine-update-season-12/
- https://seriosity.com/grind-basketball-shark-tank/
- https://thecinemaholic.com/update-on-grind-from-shark-tank/