Charlotte company returns to ‘Shark Tank’ with swim goggles and a new identity

As a Charlotte swim goggle company makes a return appearance Friday on ABC’s “Shark Tank,” it’s also diving into other waters — namely technology.

A year ago, THEMAGIC5 founders pitched their leak-free, custom-fit swim goggles on the hit reality television show. All five of the “Shark Tank” “ investors bid to invest in the product, before the company’s owners chose to work with Robert Herjavec and Mark Cuban.

Since then, the company’s profits have soared 70%.

They jumped from $2.5 million to $4.1 million as THEMAGIC% sold 85,000 goggles in one year compared to 55,000 since launching five years ago, co-founder Bo Haaber told The Charlotte Observer on Wednesday. Haaber owns the company with Danish friends Rasmus Barfred and professional swimmer Niklas Hedegaard.

“This has really been a crazy year for us,” Haaber said. “It really gave us some exposure that we really didn’t dream that we would have had.”

So much so that Haaber said he’s been stopped multiple times on the streets of Charlotte by people who saw the TV episode or bought THEMAGIC5 goggles.

Their TV debut has had a positive effect on the company expanding brand recognition and reaching more people, Haaber said. “It really gave us a stronger Charlotte foundation.”

Working with the show’s investors also helped THEMAGIC5 expand its custom-fit technology. On Wednesday, THEMAGIC5 started another Kickstarter campaign for its virtual reality custom-fit Oculus interface headset.

“I think we have identified who we are more,” Haaber said,” figuring out that we’re not only a swim goggle company but also a technology company.”

The trio also will announce another partnership Friday night, Haaber said, using their technology in yet another way.

About THEMAGIC5 goggles

THEMAGIC5’s swimming goggles, manufactured on South Boulevard, are custom fit to the contours of the buyer’s face using advanced robot technologies and 3D printing.

After purchasing a pair of goggles on the company website, customers use a smartphone app to scan their face, which takes about 13 seconds.

The made-to-measure goggles are leak-free and made with no suction around the eye, according to THEMAGIC5.

The price is comparable to other high-end goggles, the company said, and starts at $60.

The goggles have been backed by top athletes such as U.S. swimmers Matthews Grever and Zane Grothe, and U.S. triathletes Rudy Von Berg, Ben Kanute and Matt Hanson.

Personal experience behind vision

Both THEMAGIC5 swim goggles and new virtual reality headsets were created because of personal experiences.

Haaber, a recreational tri-athlete and Iron Man competitor, and fellow swimmers Barfred, his nephew, and Hedegaard, found that the one-size-fits-all goggles on the market didn’t actually fit well at all.

So they combined their backgrounds in software development, professional swimming and startups to create the made-to-measure swim goggles.

It’s the same for THEMAGIC5’s virtual reality headsets. Haaber, who lives in Charlotte, Barfred in New York City and Hedegaard in Denmark have been holding meetings in virtual reality.

“The problem was that after 20 minutes, we need to stop the meetings because the headsets became so uncomfortable,” Haaber said.

So they put their technology to use creating custom-fit headsets.

“The work with the sharks has pushed us in that direction in identifying ourselves more as a technology company,” he said.

Last time on ‘Shark Tank’

On Oct. 29, Haaber and Barfred went before sharks Mark Cuban, Robert Herjavec, Lori Greiner, Kevin O’Leary and Nirav Tolia.

Herjavec won the bid with a $1 million offer for a 6.5% equity share, and Cuban later partnered with him.

Over the last year, Haaber said Cuban’s team has worked with THEMAGIC5 in areas such as search optimization and marketing, as well as Cuban sharing ideas.

Herjavec and his team have helped with and inspired development of the technology, Haaber said.

“It wasn’t just a passive investment,” he said. “It has more than fulfilled what we were trying to achieve.”

The follow-up segment will air at 8 p.m. Friday, Oct. 21 on ABC.

This story was originally published October 20, 2022 at 5:47 AM.