Whatever Happened To Trophy Smack After Shark Tank?
Getting Mark Cuban on board to invest in their fantasy sports trophy company Trophy Smack was more than a win for Matt Walsh and Dax Holt. But this would only be the start of their success.
Cuban turned out to be a great collaborator, with Holt telling entertainment executive Edward Sylvan (via Medium), "We didn't have many expectations, but he's blown them all away. Very responsive, helpful, and is clearly driven to make Trophy Smack a success for all of us." Within a month of their "Shark Tank" episode airing, the duo's business brought in $1.2 million, more than half of what they made in the previous year. As their audience expanded, so did their product line and business. Trophy Smack would go from catering primarily to the fantasy sports crowd to offering trophies for any and all occasions. Additionally, they increased their number of employees and moved to an 800,000-foot facility complete with advanced engraving and design tools.
The company went on to add a custom design tool on their website that allows customers to add logos and designs of their choice to championship rings and belts. The team also had the unique opportunity to design trophies for the AGBO Superhero Fantasy Football League, which was started for charity by "Captain America: Civil War" and "Avengers: Endgame" directors Anthony and Joe Russo. The company's lifetime sales are estimated to be $10 million. As successful as their company has become, it might be a surprise to learn that their initial win on "Shark Tank" was largely a shot in the dark.
Mark Cuban was ready to drop his offer if he didn't get an answer
Trophy Smack got its start through a very special collaboration. Matt Walsh, a supply chain management expert, and Dax Holt, a former entertainment writer, producer, and reporter for TMZ, both had a love for fantasy football and entrepreneurship. So in 2018, they combined their talents to bring Trophy Smack to life. The company specializes in designing and sending out trophies to top winners of fantasy football, basketball, soccer, and baseball leagues.
On Season 12 of "Shark Tank," the duo appeared asking for an investment of $600,000 for 8% of their company. The sharks, while taken aback at first by the immense valuation, are impressed when hearing their numbers. The team has excellent margins of 80% all while managing to increase revenue annually while making a profit, even during the COVID-19 pandemic. Daymond John drops out, not seeing the value of investing in fantasy sports. Kevin O'Leary, while having some worries about competition, offers $600,000 for 25% of the business, feeling he can find a way to work it into the corporate market.
Mark Cuban throws his hat into the ring with an offer of $600,000 for 17% of the company. However, he isn't willing to wait for an answer, threatening to drop out if they take the time to listen to Lori Greiner's forthcoming proposition. In the heat of the moment, the duo decides to go with Cuban without getting to hear Greiner.