Former NBA hopeful Thomas Fields entered the tank to present his company, GRIND Inc., to the sharks. The companies first product, a basketball shooting machine, is an affordable rebounding machine that aims to make it easier for those who want to practice getting their shots up on their own. Fields entered Shark Tank Season 12 seeking $250,000 in funding in exchange for 5% equity. If you’re curious to find out if Thomas found success in the Shark Tank, then we’ve got a GRIND update for you.
Shark Tank GRIND Update
- Entrepreneur: Thomas Fields
- Business: Portable, collapsible, and affordable rebounding machine
- Ask: $250,000 for 5% equity
- Result: $250,000 for 25% equity
- Shark: Mark Cuban and Barbara Corcoran
Once a basketball player hoping to make it in the NBA, Thomas Fields shifted his attention to founding his own company, GRIND Inc. It’s a basketball-focused business that’s dedicated to “developing interactive sports products that solve the problems of athletes.”
The company’s first product is a portable, collapsible, and affordable rebounding machine. It’s easy to install and can be placed underneath any basketball goal. It makes it easier to collect missed and made shots by automatically getting the rebound and throwing the balls back at the shooter so that anyone can practice at any time, even without help.
Thomas explained to the sharks that his machine was not the only one out there, but that GRIND prides itself on making its product accessible. So far, the company’s product is the cheapest around and lets buyers make use of a payment plan to make purchasing more financially feasible.
So far, GRIND has sold $215,000 worth of their shooting machines in pre-sales in only five months. All that’s left is for Thomas to manufacture and fulfill the orders. However, before that, Thomas is hoping to find a willing partner to invest $250,000 in exchange for 5% equity in his company that can help him fulfill orders and grow the business
To no one’s surprise, both Alex Rodriguez and Mark Cuban were fans of the product and of Thomas. However, both expressed concern about the low margins. Both agreed that Thomas’ commitment to making the product affordable would make it difficult for an investor. Meanwhile, Barbara Corcoran felt that she could bring a lot in terms of business logistics and marketing if Mark would help promote the product.
Ultimately, Barbara and Mark agreed to invest $250,000 in GRIND for a 25% equity stake and Thomas accepted their offer.
Being that it is a product in such a competitive market, anyone would be left wanting a GRIND update. Since airing on Shark Tank, all of the initial pre-orders have been shipped to customers, with the second batch of orders set to ship in Summer 2021, followed by a third fulfillment in Fall 2021.
So far, reviews of the GRIND Machine have been positive. Some refer to it as the best investment that they have ever made, while others call it a game-changer. GRIND also now sells other merchandise through its shop such as shirts, hoodies, and shorts. Hopefully, we will have an even better GRIND update for you in the coming months!
Before you go, be sure to check out updates for the other companies featured on Season 12 Episode 23:
For more on Shark Tank Season 12, be sure to check out our Season 12 Products page!