Mark Cuban's investment in Tower Paddleboards

[Dwight (DW)]

Mark is on Howard Stern this morning. He just said his investment in Tower was one his best from the TV show Shark Tank.

Tower went from 18,000/month to 2.1 million a year and expect to hit 3 million next year.

WOW.

[spookini]

Blech.  I'd say that reflects the rapid rise of SUP in the general public's conciousness, rather than the quality of Tower's product or the strength of their brand.  My guess is their primary customer is the Costco/SUPAtx tire-kicker.  They're cashing in on the first-time buyer, but I'd be curious to hear if they have any repeat business.

Just a caveat, if you google for news stories on Tower, everything out there is a thinly-disguised press release.  So for Cuban to say "we're going to $3M" is a projection, nothing else.  Nevertheless, congrats to those two guys for making a buck.  I have to say, I've seen that episode twice, and that guy's business pitch was hands-down the worst ever.  He's obviously a lot smarter than he appeared on the show!

[Fishman]

Tower has been hitting craiglist hard and heavy over the past 3 or 4 months. You can see a add for there new inflatable and hard boards about every 2 weeks.  They seem to be hitting almost all of the local craiglists city in the South.  I guess that's working for them also?

[SlatchJim]

Introducing the masses to SUP no matter what board is involved in the initial purchase is likely to result in the new SUPper searching out for specific qualities in their next board.  Sounds like Tower's success today will result in a boon for tomorrow's high end producer.

[Puamana4me]

Forget SUP, too many players.

Bigger opportunities in  wholesale Marijuana growing for state  governments of Washington and Colorado.

Billions ,  not millions.

Gotta go, Barack is calling me.

 He's in too !
 

[ENCINITAS_SUP]

Billions ,  not millions.

http://youtu.be/C_0D8F_X7us?t=1m4s

[NoSaltSuper]

Tower is like the gateway drug of SUP. Once in you're hooked and you'll keep looking for a better high, which requires a better board.

I do have a Tower iSUP and it's fine for what it does, travel. It's very sturdy, takes a beating and is reasonably quick on the water.

My gateway board was even worse, Costco Wavestorm! My addiction continues and I now have 5 boards! The Costco is no longer part of that quiver however.