Magic 5 Goggles Business Insights

Rasmus and Bo from The Magic 5 present their custom-fitted swimming goggles to the sharks, seeking $500,000 for 25% equity. They highlight the product's unique scanning technology and market potential. The discussion covers financials, manufacturing, and technology. Multiple investment offers are made, with the final deal being $1 million for 6% equity. The entrepreneurs express excitement about partnering with their preferred investor.

What problem do the Magic 5 goggles aim to solve?

• They are designed to improve underwater vision.

• They are made from eco-friendly materials.

• They prevent leakage and discomfort by being custom-fitted.

• They are cheaper than regular goggles.

How long does it take to scan a face for the custom goggles?

• 20 seconds

• 13 seconds

• 10 seconds

• 5 seconds

What is the price point of the Magic 5 goggles?

• $35

• $55

• $75

• $99

What is the estimated market size for goggles in the US and Europe?

• $3 billion

• $1 billion

• $1.5 billion

• $2.2 billion

Where is the customization of the Magic 5 goggles done?

• Charlotte, North Carolina

• New York

• Chicago

• Los Angeles

What type of patent does the company hold?

• Provisional Patent

• Trademark

• Utility Patent

• Design Patent

What was the initial offer made by Mark Cuban?

• $500,000 for 5%

• $1 million for 10%

• $500,000 for 25%

• $500,000 for 75%

Which two sharks offered a venture debt deal?

• Robert and Kevin

• Mark and Lori

• Kevin and Lori

• Mark and Robert

What was the final offer accepted by the Magic 5 team?

• $1 million for 10%

• $500,000 for 3%

• $1 million for 6.2%

• $500,000 for 5%

Who was the favorite investor of the Magic 5 team?

• Kevin O'Leary

• Robert Herjavec

• Lori Greiner

• Mark Cuban