"I couldn’t let the other Sharks grab this one" — Shark Tank mentor Robert Herjavec on offering $1 million to The Magic Company

On January 21, 2025, Shark Tank mentor Robert Herjavec shared a moment from his time on the show through a post on X. Recalling a significant investment, he wrote,

"I couldn’t let the other Sharks grab this one."

The post featured a video clip from season 13, episode 3, where entrepreneurs from The Magic 5 pitched their custom-made swim goggles. Initially seeking $500,000 for 2.5% equity, they faced competitive offers from multiple Sharks. Robert ultimately secured the deal by offering $1 million for 6.5% equity, stating, "Guys, I gotta get this deal."

The founders, Bo Habber and Rasmus Barfred, avid swimmers and technologists, pitched their product designed to solve common issues with traditional swim goggles. A third partner, Nicholas Granet, a professional swimmer from the Danish National Team, was not present during the pitch. Their app-based technology allows customers to scan their faces and receive custom-fitted goggles.

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The Magic 5's product of swim goggles in Shark Tank

The Magic 5 was founded by Bo Habber, Rasmus Barfred, and Nicholas Granet to address common issues with traditional swim goggles. The idea came from Bo’s frustration with leaky and uncomfortable goggles during his swims. Using their technology backgrounds, the founders developed a custom-fit solution.

During their pitch in Shark Tank, Rasmus said,

"The world's first custom fitted swimming goggles. It only takes 13 seconds to scan your face."

Customers can scan their faces using an app that creates goggles tailored to the user's facial structure. This process ensures a precise fit and enhanced performance. During their pitch, the founders highlighted the features of their goggles, including anti-fog coating, mirrored options for outdoor swimming, and stabilizing temples.

Depending on the style, each pair costs around $55 to $65 and comes with a money-back guarantee. The manufacturing process involves parts sourced from China, while customization and assembly take place at their Charlotte, North Carolina facility. Their patented fitting algorithm forms the core of their product.

Since launching through a campaign in 2017, which raised over $100,000, The Magic 5 has sold 40,000 goggles and generated $3 million in sales by the time of their Shark Tank pitch. With growing demand, the founders sought funding to expand production and meet the needs of more swimmers globally.

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Growth and expansion after Shark Tank

The Magic 5 saw significant growth following their appearance on Shark Tank. With Robert Herjavec’s $1 million investment for 6.5% equity, the company expanded its production capabilities and explored new opportunities. Mark Cuban also joined the deal off-screen, investing $500,000 alongside Robert. This partnership provided both financial support and strategic guidance.

The exposure from Shark Tank brought increased visibility and a boost in sales. The company reported $4.1 million in revenue shortly after the episode aired and surpassed $5 million in sales by 2024. Their patented fitting technology allowed them to differentiate themselves in the swimwear market. Additionally, The Magic 5 launched new products such as diving masks and custom-fit cycling glasses, further broadening their product range.

The company also formed partnerships to strengthen its presence in the swimming community. A notable collaboration with Oceanman made their goggles available on a platform dedicated to open-water swimmers. The founders talked about their commitment to providing tailored solutions for athletes and casual swimmers, using their technology to improve comfort and performance.

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Shark Tank season 16 episodes air every Friday at 8 pm ET on ABC.