As of 2023, Birddogs is worth over $25 million, and the valuation will keep growing provided they keep growing at this rate.

Birddog’s net worth has significantly increased after their Shark Tank appearance in Season 9. Let’s see how Birddogs has expanded its underwear business over the years.

Shark Tank is full of silly products being pitched for investments, but we do know that some silly products aren’t that stupid after all! Some of them end up being viral and make fortunes for the founders and investments.

One such product is Birddogs which was pitched during the Season 9 of Shark Tank, the episode was aired on January 7th, 2018, and since then, Birddogs has become an internet sensation and a successful underwear company.

Such exposure and market success raise questions about the company’s and its founders’ net worth. Also, many become interested in knowing how the company went from nothing to a successful business after Shark Tank, because the journey matters the most.

In this article, we will take a closer look into the business success of Birddogs, as well as how the business is doing after Shark Tank. Lastly, we will be taking a look into their sales and revealing Birddog’s net worth in 2023.

Birddogs on Shark Tank: Won but at What Cost?

The gym shorts with built-in liners, named Birddogs, were pitched on the 9th season and 14th episode of Shark Tank. The young entrepreneurs from New York City had already launched the product three years before their Shark Tank appearance.

In their pitch, the entrepreneurs Chris Mason and Peter Baldwin said that they sold over $200,000 worth of products in their first year. Here’s the full breakdown of Birddogs sales.

Birddogs Sales Throughout the Years

As you can see, the founding pair sold over $200,000 of Birddogs underwear within the first year of their business commencing. The second year of business ten times their original sales numbers, as the business registered over a couple million in revenue.

As much as the business was going well, the sharks didn’t like it.

Sharks Say Birddogs Has a Questionable Future

After impressing the sharks by revealing their promising sales numbers, the sharks started asking some real questions about the company’s future and how they plan to keep up with the uprising demand.

Birddogs had no solid plans in place to meet the growing demand for their product, and it was revealed when the sharks, especially Mark Cuban asked Chris Mason (co-founder of Birddogs) how he planned to keep the inventory full to meet the demand.

On top of that, the sharks discovered that Birddogs was spending a significant amount on product and marketing costs. This revelation left the Sharks questioning the company’s future viability and sustainability.

Did Birddogs Get a Shark Tank Deal?

The sharks were furious about their false claims of being the best in the market. When Chris started telling them baseless numbers, and finally revealed how much he was spending on marketing (that was 20% value of the sales price), the sharks started losing it.

Lori was the first to get out as she said, “you’re bird-dogging the answers,” and she was right. The co-founders we’re answering any of the sharks’ questions, instead, they were beating around the bush and telling again and again how awesome they are, something the sharks couldn’t stand.

One by one, all of the sharks were out and Birddogs, despite generating millions of dollars in sales, walked out of Shark Tank without a deal.

Birddogs After Shark Tank: Did the Company Succeed?

Understanding what the company is generating and can be labeled as a success is a little tough. The reason why is that Birddogs was generating good numbers in 2020, but the rise of their sales couldn’t continue after that.

The projected growth after the first four years stopped, but that only means that the company started stabilizing when it came to sales and revenue. 

According to Kona Equity, the company’s annual revenue is well over $15 million, which is even higher than the projected sales revenue by the co-founders.

Here’s the revenue growth rate visualized by a graph chart:

Image Source: Kona Equity

The chart clearly shows that the Birddogs’ growth rate was the highest from Q4 of 2020 to the first quarter of 2021. Unfortunately, from 2021 to 2022, the company didn’t see any significant growth but the recent data suggests that Birddogs is projected to bag over $15 million in sales this year.

This is a big number and it turns out that the sharks have missed a big one. All these ups and downs and the undying success of Birddogs bring us to the question we’ve all been waiting for; The net worth!

Birddogs Net Worth in 2023

Despite facing tough conditions after the pandemic and the brutal rejection on Shark Tank, Birddogs is still running fine, and generating promising sales numbers. As of 2023, Birddogs is worth over $25 million, and the valuation will keep growing provided they keep growing at this rate.

This valuation is based on the sales data shared by the co-founder Chris Mason, and the sales and seed capital data shared by Kona Equity and Crunchbase. 

Given the 1.5% ask for only a $250,000 investment, it turns out the sharks would’ve made some good money if they had negotiated and taken them down to 3% equity, they would’ve more than doubled their investment.

Conclusion

Birddogs, gym shorts that come with built-in liners, became super popular after appearing on Shark Tank in 2018. Even though the sharks had some tough questions about whether the product could keep growing and stay successful, Birddogs proved them wrong. 

In 2022, they made over $15 million in sales and now in 2023, the company is worth over $25 million. People love Birddogs, and their sales keep going up. This shows that even a product that seems kind of silly can become a huge success and make a lot of money for the people who came up with it.

Frequently Asked Questions – FAQs

Is Birddogs a successful company?

Birddogs is successful and is generating millions of dollars of revenue each year. Despite facing humiliation from Shark Tank, the company has been doing good in terms of business. Birddogs is worth well over $25 million in 2023.

What is Birddogs’ total revenue?

Birddogs’ total revenue is unknown as the company keeps this information private. However, some estimates derived from Kona Equity and company profiles suggest that they have sold over $50 million worth of products since the business started.

Who is the owner of Birddogs?

Birddogs is co-owned by Peter Baldwin and Chris Mason. The pair pitched the business on Shark Tank and didn’t get a deal. Despite that, the company is doing well and has become a multi-million dollar business.

What are Birddogs’ sales?

Birddogs’ sales grew significantly, going from $200,000 in their first year to $2.1 million in the second year, and continued to increase year over year, reaching $8 million in 2020. In 2023, the company is anticipating sales of $15 million.

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