Magic Five is a popular YouTube channel that posts about entertainment, and it has 11.2 million subscribers. It started up in 2016 and is in Ukraine.
So, you might be wondering: How much money does Magic Five have? Or, you might be wondering, “How much does Magic Five make?” Few people have a good idea of how much Magic Five really makes, but a few have tried to guess.
What Is Magic 5?
Magic 5 is a company that makes and sells goggles that are made to fit each person. The Magic 5 Goggles company uses different algorithms to give each customer a unique product and the best match.
It means that out of all the brands in the world, Magic 5 is the best because they make their goggles fit different faces. With 3D printing technology and AI, users can get goggles that fit their faces perfectly.
Who Is The Owner Of The Magic 5?
The triathlons were a lot of fun for Bo and Rasmus. Bo forgot to bring his own goggles to one of his competitions. He bought a few pairs of goggles, but none of them were right for his face. This made him think that he should try to find a solution for everyone.
He asked his nephew and Nicholas Granet to help him run the business. They made an app that can scan the faces of customers using AI technology. They 3D-print a unique pair of glasses for your face based on the date.
After a Kickstarter campaign that raised more than $100,000, The Magic 5 came out in 2018. They made $3 million in sales and raised $1.5 million at a $9 million valuation in three years.
Shark Tank Appearance
Bo and Rasmus moved to the United States because the market there is bigger. By 2021, all of their hard work was paying off, but they still wanted to grow. They went on Season 13 of “Shark Tank” and asked for $500,000 for 2.5% of their business.
The Sharks liked the product, and the AI face-scanning technology got them excited. They realised quickly that they were much more than just a business that sold swimming goggles. Bo did a great job of explaining how the technology worked and confidently answering questions.
All of the sharks who wanted to invest quickly started a bidding war. Cuban made the first offer, but he asked for too much equity. Kevin and Nirav worked together, but they both wanted a royalty deal.
Lori wanted to work together, but neither Robert nor Mark needed her. There were so many offers that things got confusing. Robert Herjavec finally got tired of all the negative talk and agreed to invest $1 million at 6.5%. Robert beat Cuban to a deal, which doesn’t happen very often.
What Happened After Shark Tank?
Swimming World says that when the cameras stopped rolling, Cuban went up to Robert and asked him to split the deal. The two of them agreed to each invest $500,000 at 3.25%. the one time Robert made a deal with Cuba and then agreed to share it later.
After the episode aired, the number of new orders and news stories about the Magic 5 went up. On Amazon and TheMagic5.com, you can order a pair of goggles that fit you perfectly. They’ve raised their prices, and now some of their goggles sell for more than $100.
On their website, it says that over 2,500 reviews of their products gave them an average of 4.89 stars. The founders want to add new custom products, such as gas masks and diving masks. Last year, they had $2.6 million in sales.
The Magic 5 Net Worth
Most swimming goggles leak and are uncomfortable because they are made to fit everyone’s face the same way, even though everyone’s face is different. The Magic 5 has found a solution to this problem with their custom 3D-printed goggles.
The product’s founders, Bo Haaber and Rasmus Barfred, pitched it on “Shark Tank,” where Robert Herjavec agreed to buy it. The Magic 5 is worth $15 million as of 2023.
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