In gridiron football, many kids suffer from dehydration, causing them to faint. To solve this problem, Chris Spencer invented the Hydromax System, which attaches to the back of any shoulder pad and provides hydration access during the game.
Chris’s goal is to expand his product nationwide, which is why he appeared on Shark Tank Season 2 Episode 6. Did the Sharks invest in his business? Let’s find out what ultimately happened to his business.
| Company Name | Hydromax | |
| Founder/Co-Founder | Chris Spencer | |
| Founded | 2005 | |
| Product | hydration system | |
| Asked For | $50k for 25% equity | |
| Final Deal | $50k for 50% equity | |
| Shark | Jeff Foxworthy | |
| Episode | S2 E6 | |
| Air Date | April 22th, 2011 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Houston, Texas, United States | |
| Lifetime Worth (Sales) | $2.5M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Chris asked the Sharks for $50k in exchange for 25% equity, valuing his company at $200,000. He demonstrated his patent-pending hydration system product to the Sharks and explained its features.
Each product costs $8.50 to make and is sold for $49.99. Since 2007, his total sales have only reached $100,000. He is currently working part-time on this business, while his wife is a teacher.
Kevin O’Leary said it is a challenging product, so he is out.
Daymond John said the company’s valuation is too high, so he is out.
Barbara Corcoran said she doesn’t have expertise in this industry and currently doesn’t have the time, so she is out.
Robert Herjavec said that the product’s sales are not high enough to justify an investment, so he is out.
Jeff Foxworthy asked Chris about his expansion plan, and Chris explained that he intended to bring the Hydromax to the Hulu Bowl and provide it to college athletes as well. Jeff pointed out that Chris might not have enough time to manage all this while already working a full-time job. Jeff offered $50k for 50% equity, and Chris accepted the offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Jeff Foxworthy | $50k for 50% equity |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Barbara Corcoran | No Offer |
| Daymond John | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | $50k for 50% equity |
Hydromax Shark Tank Update
Jeff used his contacts to provide the product to the Dallas Cowboys and San Diego Chargers, as well as Pop Warner, high school, and college teams.
To expand the business, Chris decided to raise funds. However, due to unexpected reasons, he had to shut down the Hydromax business in 2011. Chris then focused on his full-time job as part of his daily routine.
Chris is currently working full-time as a Senior Business Account Executive at T-Mobile, a major telecommunications company. The last estimated worth of Hydromax was around $5 million.
Check out Shark Tank Season 2 Business Update.
Here is a list of more businesses from Season 2 with their progress reports:
