Whatever Happened To Hydromax After Shark Tank?
Entrepreneur Chris Spencer is looking to make a potentially life-saving alteration to how football is played forever with his product, Hydromax. His company has designed a special system that allows football players to receive the necessary hydration while playing a game. The player simply attaches a hydration tube to the back of their shoulder pads with velcro, with the end of the tube sitting on their chest. It connects to a 16-ounce bladder full of water on the player's back that can easily be refilled. Users can access the tube while on the field and hydrate themselves rather than needing to go on the sidelines.
A lifelong athlete, Spencer conceptualized the product during his high school years, having had his own experiences with dehydration and overheating. He later took notice of the increasing number of football players suffering from this same issue, particularly children. From there, he developed the product alongside Hydromax Vice President Carl Henderson and NFL cornerback Sammy Davis. He'd later take on a corporate job to support his wife and children but still desired to make something out of Hydromax. Did "Shark Tank" give Spencer the shot he was looking for?
What happened to Hydromax on Shark Tank?
On "Shark Tank" Season 2, Chris Spencer hopes to receive $50,000 for a 25% equity stake in Hydromax. Alongside him is a child named Ethan, who demonstrates how easy it is to access water using the product. Currently, Hydromax can attach to any pair of shoulder pads, but Spencer hopes that a deal will allow his company to eventually make its own shoulder pads with a built-in Hydromax system.
A single unit costs $8.50 to manufacture and prices at $49.99. He has currently only made $100,000 in sales from 2007. After meeting his wife, he had to leave Hydromax behind for a while and change career paths. The Sharks wonder how Spencer will have the time to run the business if he also works full-time elsewhere. He anticipates that a distribution deal will give him the space needed to do Hydromax full-time.
Kevin O'Leary doesn't like that he will have to do a majority of the work and bows out. Similarly, Daymond John, Barbara Corcoran, and Robert Herjavec all go out. "Are You Smarter than a 5th Grader?" host and investor Jeff Foxworthy shows interest but is aware of the work involved. He offers the $50,000 for 50%, which Spencer accepts.
Hydromax after Shark Tank
Hydromax's "Shark Tank" segment was broadcast on April 29, 2011. According to founder Chris Spencer's LinkedIn, the deal with Jeff Foxworthy was tentative. That indicates the partnership was never finalized, which isn't uncommon in the aftermath of an on-screen "Shark Tank" deal. Nevertheless, he was able to successfully expand given the newfound boost in exposure that "Shark Tank" granted his business. In less than six months following his time on the show, Spencer successfully moved his company into an office space and hired new employees.
On top of this, he secured additional venture funding. In June 2012, Hydromax uploaded a segment from "Innovation TV" to YouTube that dived deep into the product, its capabilities, and its positive reception from users. Given that Spencer and company were still looking for funding, it's likely that the clip was shared to drum up additional interest.
Hydromax's clientele featured high school and professional teams, including Sam Houston State, the San Diego Chargers, Humble High School, Snoop Dogg Football Youth League, and the Dallas Cowboys. Unfortunately, the company did not sustain this growth.
Why did Hydromax go out of business?
Sadly, Hydromax is no longer running. Chris Spencer's LinkedIn account states that he was Hydromax's Executive Director between 2005 and 2011, the same year his "Shark Tank" episode aired.
The only remaining remnants of Hydromax are its YouTube channel, containing only one video from 2012, and an out-of-date website. There's no way of buying Hydromax products even though they remain listed on its website. Also on the site is a defunct page of media interviews, additional information about the company, an endorsement from football player Sam Davis, and more.
Outside of this, Hydromax shows no signs of life anywhere. It's unclear what triggered Spencer's decision to shut down the company, but given that he was providing for his family through his corporate job when he appeared on "Shark Tank," it's likely the entrepreneur never found the time to commit to making Hydromax his full-time endeavor.
What's next for Hydromax's founder?
Hydromax showed promise, both as a product and as a company. Not only was the item versatile and potentially life-saving, but Chris Spencer was starting to see some success in the field, having expanded his team and capital funding efforts after appearing on "Shark Tank." However, between Jeff Foxworthy's deal never closing and Spencer's familial obligations, the venture was sadly unable to continue. What makes it especially upsetting is that going along with Hydromax is the company's wholesome mission of keeping kids safe while allowing them to have fun.
Thankfully, Spencer has continued doing well for himself in recent years. Since dropping Hydromax, he has primarily held major managerial and executive positions for some of the biggest telecommunication and mobile providers out there, including Verizon, AT&T, and Sprint. He has been working for T-Mobile as a senior business account executive since August 2020. Given that his children have matured significantly since his time on "Shark Tank" in 2011, Spencer hopefully will have the time he needs to bring back Hydromax and make it better than ever.