Weightlifters can save time by using SnapClips. It takes the place of conventional weight collars. Using a regular collar is slow. A better answer was what Martin Dimitrov desired. In order to facilitate training, he developed SnapClips. SnapClips employs a Velcro and snap mechanism. This speeds up weight switching. In Season 9, Martin made his Shark Tank debut.
He requested $150,000 for a 15% stake. He attracted the sharks with his merchandise. Will the entrepreneur get a deal on Shark Tank? Check out the SnapClips update to find out!
SnapClips Net Worth Shark Tank Update 2025
Martin Dimitrov asked for a $150k investment in exchange for 15% equity in his company. This meant he valued his company at $1 million. He made a deal with Mark Cuban, Lori Greiner, and Alex Rodriguez for $150k in exchange for 30% equity, which valued his company at $500,000. After the show aired, SnapClips 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 SnapClips is about $805,000.
The event led to the success of SnapClips. The sharks’ transaction was completed. SnapClips added more products to its lineup. It began to sell in more than 30 nations. The business opened a store of its own. In 2018, it teamed up with CrossFit. SnapClips’ rapid growth was aided by this deal. Its revenues reached over $6 million by 2024.
It currently brings in about $5 million a year. SnapClips produces goods for homes and gyms. It provides more than thirty options. The company SnapClips is still operating today. It frequently posts updates on Instagram.
Shark Tank gave SnapClips the deal. Martin requested $150,000 for a 15% stake. Alex Rodriguez and Lori Greiner made an offer of $150,000 for 50% equity. Martin was encouraged by Mark Cuban to reduce the equity. He brought Lori and Alex a fresh offer. $150,000 was offered in exchange for 30% equity. Martin agreed to this arrangement.
Mark Cuban pledged to assist with NBA franchises and gyms. Alex and Lori were likewise in favor of the agreement.
| Shark(s) name | #1 $150,000 for 50% equity(with Lori)#2 $150,000 for 30% equity (with Lori and Mark) | Counteroffer | Accepted? |
| Alex Rodriguez | #1 $150,000 for 50% equity #2 $150,000 for 30% equity (with Alex and Mark) | N/A | yes |
| Lori Greiner | #1 $150,000 for 50% equity #2 $150,000 for 30% equity (with Alex and Mark) | Yes | |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | $150,000 for 30% equity | N/A | Yes |
SnapClips Shark Tank pitch
SnapClips was founded by Martin Dimitrov during his high school years. He sought to address an issue that weightlifters frequently face. Conventional weight collars are difficult to operate and slow. Martin came up with a method to speed things up. He made use of Velcro straps and a snapping mechanism. This facilitated rapid weight changes. SnapClips are lightweight and robust as well.
SnapClips was founded by Martin on Kickstarter. He raised more than $23,000. He offered the goods for sale both locally and online. It was difficult in the beginning. Martin struggled to juggle his business and his studies. He gained experience in sales and manufacturing management. He put a lot of effort into making SnapClips a success. He was a college student when he joined Shark Tank. He joked that his school would always take him back if his business failed. But Martin believed in his product.
Martin confidently introduced SnapClips. He demonstrated the product’s operation. He outlined its advantages. Workouts are quicker and safer using SnapClips. It is simple to use because of the Velcro straps and snapping mechanism. Martin also discussed how long the product lasts. Strong rubber and Kevlar are used to make SnapClips. They’re good for both the gym and the home.
Martin requested $150,000 in exchange for 15% equity. “The money will help grow production,” he said. He also desired to increase sales. He shared his Kickstarter accomplishment with the sharks. In a single month, he raised $23,000 and generated $6,500 in sales. Each unit sells for $29.99 and costs $8.50 to produce. Martin outlined the reasons why SnapClips would succeed in the fitness industry.
The sharks asked Martin many questions. They wanted to know why SnapClips are better than regular-weight collars. Martin explained that his product is faster and easier to use. He also said it is safer. The sharks liked the idea. They saw it could help many weightlifters. Lori Greiner asked about other uses for SnapClips. She thought they could be used for hoses or wires.
Martin said the focus was on gyms. Mark Cuban asked about the price. He wanted to know if it was too high. Martin said the price was fair for the quality. The sharks were concerned about the low sales. They asked if people would buy the product. Martin said SnapClips had strong potential. He just needed money to grow. The sharks also asked about Martin’s plans for college. Martin said he would leave school if the business took off. He was ready to focus on SnapClips.
The sharks’ reactions were not all the same. The product did not appeal to Robert Herjavec. “It has no place in the industrial market,” he remarked. Barbara Corcoran also passed on the offer. She claimed that she was unable to identify with the product.
The concept appealed to Lori Greiner. She proposed $150,000 in exchange for 50% ownership. Alex Rodriguez joined her offer as a guest shark. Each of them desired a quarter of the business. Mark Cuban took over. He advised Martin not to take that offer. His offer was superior.
Alex Rodriguez, Lori Greiner, and Mark Cuban made an offer of $150,000 for 30% stock. Each of them would take ten percent. Mark offered to help SnapClips gain access to NBA gyms. This offer pleased Martin. He agreed to the terms.
What Went Wrong With SnapClips On Shark Tank?
Some sharks did not invest. Robert Herjavec did not see a big market for the product. He said it lacked industrial uses. Barbara Corcoran did not relate to the product. She passed on the deal. The low sales worried the sharks. They thought the valuation was too high. Lori and Alex asked for 50 percent equity at first. This was a big share of the company.
Mark Cuban stepped in to make a better deal. He helped lower the equity to 30 percent. This made the deal more fair for Martin.
Product Availability
SnapClips is now available in many places. It sells in over 30 countries. The company has its own online store. SnapClips also partnered with CrossFit. This made the product popular in gyms.SnapClips come in many varieties. They have over 30 options. Each SnapClip is lightweight and durable. They are made from Kevlar and rubber. They are easy to use.
They are designed for quick weight changes. The price for SnapClips is $29.99. They are available online. You can find them on the SnapClips website. They are also sold in some retail stores. The product is perfect for gyms and home workouts.
Conclusion
SnapClips started as a simple idea. It solved a common gym problem. Martin Dimitrov believed in his product. He worked hard to improve it. He got help from the sharks on Shark Tank. They invested in his company.SnapClips grew quickly after the show. It now sells worldwide. It partnered with CrossFit. The company makes millions each year. SnapClips continues to expand. Its future looks bright. More updates will come soon.
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.
