In the world of boating and water sports having extra life vests is essential. However many boat owners find themselves with too many life vests which create clutter. Justin Rietema and Doug Schultz came up with the solution called Human Bobber. Their product is a Coast Guard-approved life vest that turns into a comfortable floating chair or seat.
This clever design made boating easier and more convenient for people. Justin and Doug appeared on Shark Tank during season 9 seeking a $120,000 investment for a 15% stake in the company. They were hoping to reach more customers and expand their market. Will the entrepreneur get a deal on Shark Tank? Check out the Human Bobber update to find out!
Human Bobber Net Worth Shark Tank Update 2025
Justin Rietema and Doug Schultz asked for a $120k investment in exchange for 15% equity in their company. This meant they valued their company at $800,000. They made a deal with Kevin O’Leary and Mark Cuban for $120k in exchange for 43% equity, which valued their company at approximately $279,000. After the show aired, Human Bobber saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Human Bobber is about $950,000.
After their appearance on Shark Tank Human Bobber saw some growth. The company expanded its product line. They added more items like floating tote bags, floating cup holders, and leak-proof tumblers. Despite the deal falling through their revenue continued to grow. By the time the show aired Human Bobber had achieved annual sales of about $900,000.
They became available in stores like West Marine and Camping World. However, the products are no longer available in those stores. Despite not landing the deal with the sharks Justin and Doug continued to work on the business. They both had full-time jobs while running Human Bobber as a side business. The company is still in business and is seeing steady growth. As of 2024 the company is still active and has a loyal customer base.
Yes Human Bobber did get a deal on Shark Tank. Justin and Doug asked for $120,000 for 15% equity in their business. The deal they received was from Kevin O’Leary and Mark Cuban. Kevin offered $120,000 for 33.3% equity. Mark offered an additional 10% equity but did not provide any additional financial investment. This deal was complicated because Mark wanted a portion of the company without contributing money.
Despite the strange terms Justin and Doug agreed to the deal. Unfortunately, after the show aired the deal fell through. However, the company did manage to keep growing without the sharks’ help.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Robert Herjavec | out | N/A | N/A |
| Kevin O’Leary | #1 $120,000 in exchange for 33.3% equity #2 $120,000 in exchange for 33.3% equity + 10% equity for mark | N/A | yes to 2nd offer |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | take 10% equity within Kevin’s 33.3% but would not contribute any money | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
Human Bobber Shark Tank pitch
Human Bobber was co-founded by Doug Schultz and Justin Rietema. The product’s concept was conceived in 2011. They both had a strong interest in boats and wanted to develop a product that would enhance the boating experience. The necessity for a life jacket that could do more than merely keep people safe served as the impetus for Human Bobber.
Doug and Justin aimed to design a product that was both adaptable and comfy. They wanted something that would be entertaining and useful in addition to providing water protection.
Product development wasn’t easy in the beginning. Obtaining Coast Guard certification for the product was one of their toughest obstacles. It took longer than anticipated. Due to this deal, they were unable to market their product immediately. They were unable to start promoting the product until they obtained the required certification. They persisted in moving forward in spite of the obstacles. After some time the product received certification and was prepared for retail. This was a significant turning point for the business and gave them the opportunity to grow their clientele.
Justin and Doug entered the Shark Tank pitch with confidence. They were wearing their own product, the Human Bobber, to show how it works. They were asking for $120,000 in exchange for 15% equity in their company. They explained the problem with regular life vests: they are bulky and uncomfortable for guests. Their product the Human Bobber could be worn as a life vest or converted into a comfortable seat for lounging or water activities.
They explained that their product costs between $22.80 and $27.80 to produce. The retail price of the life vest was $65. The Bottoms Up model was priced at $90. Justin and Doug were excited about the potential of their product, but their sales were low. They had only made $63,000 in total sales so far. This was mainly because they had just received their Coast Guard certification.
They also explained that their product was already available in stores like West Marine, Amazon, and Camping World. The sharks were curious about the numbers and how the product worked. Justin gave a live demonstration to show how the life vest could easily turn into a seat. They passed out samples to the sharks to try out. They were hopeful the sharks would see the potential in their product.
Although they had questions, the sharks were intrigued by the product. The first person to enquire about the sales and manufacturing costs was Kevin O’Leary. He found out that the product sold for $65 or $90 depending on the model and cost between $22.80 and $27.80 to create. The overall sales were low, even with the strong profit margins.
Justin clarified that the poor sales were due to the certification delay when Kevin questioned why the sales figures were not higher. The year the episode was filmed was the only time the certification was obtained.
The sharks needed to know if there was enough demand for the product to expand. They asked whether there was a market for the goods and if it would be well received. Doug and Justin clarified that they were only getting started and had ambitious future ambitions. Not all of the sharks were convinced.
First to leave was Lori Greiner. She believed she couldn’t get involved with the company since it was too small. Robert Herjavec also left claiming he had no interest in the product. Daymond John also followed suit and left. He thought the product had potential but he couldn’t make good use of his distribution network because the company was too small.
The initial offer was made by Kevin O’Leary. In exchange for 33.3% equity, he offered $120,000. Although he sought a sizable part in the business but he thought the product had potential.
Mark Cuban recognized the opportunity to link the product to his paddleboard business. He didn’t want to invest money, though. He requested that Kevin’s 33.3% contract include an extra 10% equity. According to Mark, he might add value through collaborations and marketing.
The combined offer from Kevin and Mark required giving up 43 percent of the business. Compared to the 15% Justin and Doug had initially intended to give away, this was a significant increase. The founders agreed to the agreement after significant deliberation.
What Went Wrong With Human Bobber on Shark Tank?
The magnitude of the business worried the sharks. It was too little for Lori Greiner’s experience. Robert Herjavec just didn’t think the product was worth it. Daymond John thought the business was not yet ready for widespread distribution but he still liked the idea.
The agreement reached by Mark Cuban and Kevin O’Leary necessitated the surrender of a significant portion of the business. Doug and Justin made a significant sacrifice by agreeing to give up 43% of the company. The arrangement fell through after the show. Doug and Justin were left to carry on growing their company alone.
Product Availability
A special product with several applications is the Human Bobber. It can be made into a floating chair or used as a life jacket for protection. It can also be worn as shorts because of its versatility. It is therefore perfect for water sports like kayaking and boating.
You may purchase the Human Bobber online. It is available for purchase on the company’s website and on Amazon. The Bottoms Up vest costs $90 while the Scuttlebutt model costs $65 both prices are competitive. Additional items include tote bags that may be used as chairs and floating drink holders. Water lovers will find these objects both entertaining and useful. The product is no longer available at West Marine and other locations where it was originally sold.
Conclusion
Human Bobber had a memorable appearance on Shark Tank. The product impressed the sharks with its creativity and versatility. Although the deal with Mark Cuban and Kevin O’Leary fell through the company has continued to grow. Justin and Doug have expanded their product line and now earn around $950,000 per year. Human Bobber is a steady success story. Fans of the product can look forward to more innovations in the future. Stay tuned for updates on this exciting company!
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
