Stephan Aarstol founded Tower Paddle Boards with a vision to make stand-up paddle boarding accessible and affordable through a direct-to-consumer business model. He appeared on Shark Tank Season 3, Episode 9, seeking $150,000 for 10% equity to grow his company, which sold high-quality paddle boards and accessories at about half the price of competitors.
| Company Name | Tower Paddle Boards | |
| Founder/Co-Founder | Stephan Aarstol | |
| Founded | 2010 | |
| Product | Stand-up paddle boards and accessories | |
| Asked For | $150,000 for 10% equity | |
| Final Deal | $150,000 for 30% equity | |
| Shark | Mark Cuban | |
| Episode | S3 E9 | |
| Air Date | March 9, 2012 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | San Diego, California, United States | |
| Annual (Revenue) | Over $25 million (as of 2015) | |
| Worth / Valuation | $1.5 million | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Stephan Aarstol entered the Tank with a somewhat rocky start, struggling with a malfunctioning slideshow and a moment of silence during his pitch. Despite this, he impressed the sharks by explaining that stand-up paddle boarding was the fastest growing water sport worldwide and that his company had generated $100,000 in sales in just four months.
He highlighted that Tower Paddle Boards sold their boards at around $600, roughly 50% less than competitors, using a direct-to-consumer online sales strategy driven by search engine marketing, which intrigued the sharks. Barbara Corcoran exited early, overwhelmed by the technical details. Robert Herjavec liked the sport but felt the valuation was too high. Daymond John also left, leaving Mark Cuban and Kevin O’Leary as the final contenders.
Kevin O’Leary offered $150,000 for 50% equity plus a 10% royalty, but Stephan declined. Mark Cuban then offered $150,000 for 30% equity with a first right of refusal on Stephan’s future ventures. Kevin countered with $150,000 for 25% equity and the same clause, but Stephan preferred Mark’s approach and accepted his offer.
Tower Paddle Boards Shark Tank Update
Mark Cuban has called Tower Paddle Boards one of his best Shark Tank investments. Stephan repaid one-third of Mark’s investment within a few months, and the company quickly grew, surpassing $10 million in lifetime sales by 2015. Tower was ranked 239th on Inc. Magazine’s list of fastest-growing private companies in America.
Since then, Tower expanded into a full beach lifestyle brand, adding products like sunglasses, apparel, beach chairs, and electric bikes. The company operates out of San Diego and continues to generate around $7 million in annual revenue, with plans to grow further.
Sharks Offers List
| Sharks | Offers |
|---|---|
| Kevin O’Leary | $100,000 for 20% equity |
| Barbara Corcoran | No Offer |
| Mark Cuban | $150,000 for 25% equity |
| Daymond John | No Offer |
| Robert Herjavec | No Offer |
| Founder’s Counter | Accepted Mark Cuban’s offer |
| Final Deals | $150,000 for 25% equity |
Tower Paddle Boards Shark Tank Update
Mark Cuban has called Tower Paddle Boards one of his best Shark Tank investments. Stephan repaid one-third of Mark’s investment within a few months, and the company quickly grew, surpassing $10 million in lifetime sales by 2015. Tower was ranked 239th on Inc. Magazine’s list of fastest-growing private companies in America.
Since then, Tower expanded into a full beach lifestyle brand, adding products like sunglasses, apparel, beach chairs, and electric bikes. The company operates out of San Diego and continues to generate around $7 million in annual revenue, with plans to grow further.
What Is Tower Paddle Boards Net Worth?
At the time of the Shark Tank pitch, Tower Paddle Boards was valued at approximately $1.5 million, based on Stephan’s ask of $150,000 for 10% equity. The deal with Mark Cuban at $150,000 for 30% equity implied a valuation of about $500,000, reflecting the negotiation and investment terms.
Today, Tower Paddle Boards is a thriving company with a net worth far exceeding its initial valuation, driven by strong sales growth, brand expansion, and effective direct-to-consumer marketing.
