Nexersys Shark Tank Update 2023
Nexersys succeeded in catching every Shark’s attention with its innovative design. Unfortunately, even with its unique module, it failed to get an investment. But still, the company benefited a lot by appearing in Shark Tank.
However, what is the Nexersys Shark Tank update now? In 2014, Nexersys appeared on Shark Tank. The founder received many praises and positive comments from the Sharks. Later, this helped the company gain a huge sales increase, and it is still running smoothly.
So, do you want to hear the story of how Nexersys became so successful now? Yes, we will share the hard work and story behind its current limelight. So, let’s dive into this inspiring story together!
Nexersys Shark Tank Profile
We will share a short overview table about Nexersys before exploring deeper into its story. So, let’s take a look!
| Company Name | Nexersys |
| Founder | Terry Jones |
| Founded | 2010 |
| Products | Various interactive and intelligent fitness/exercise products. |
| Business Status | In Business |
| Shark Tank USA Appeared Episode | Season 5, Episode 16 |
| Asking Investment | $2 million for 10% equity |
| Final Deal | Not made |
| Shark Name | No one |
| Net Worth (in 2023) | Over 5 Million USD |
| Aired Date In Shark Tank | January 31, 2014 |
| Headquarters | Austin, Texas, United States |
| Website | Visit Website |
| Size Of Company | 11-50 employees |
| Amazon Buying Official Site | Visit Amazon |
| Where To Watch | Amazon Prime |
| Official Instagram | |
| Linked in | Official Site |
| CEO Profile | |
| Visit Facebook Page |
What Happened To Nexersys During Shark Tank?
Even after being an established company, why was Nexersys on Shark Tank? Like other companies and groups, it also appeared there to get some investment. However, the reason for that required investment was different from other companies.
The founder of Nexersys, Terry G. Jones, loves high-intensity interval training. To help others with training, Terry founded Nexersys in 2010. The company mainly makes training equipment that teaches you a full set of training techniques. This machine will also guide you to do those tricks properly, along with proper feedback.
When Terry appeared in the Shark Tank, he only demonstrated exercise equipment for cardio boxing. However, Nexersys today also offers cross-body training equipment and some accessories.
Nexersys was featured in the Shark Tank in season 5, Episode 16. The sole founder, Terry, appeared in that show with his arcade-like training module Nexersys. He also brought an Olympic boxer, Marlen Ezpaarza, to demonstrate the product.
At that time, the company was not profitable, even though it made $4.2 million in sales over 18 months. It had a $7 million debt before the Nexersys Shark Tank episode. So, the founder hoped that with the help of sharks, it could get out of the debt soon.
He successfully grabbed the attention of all four sharks with a $2 million investment for a 10% equity offer. But hearing that huge debt, they only offered him admiration. None of them invested in his company.
What Happened To Nexersys After Shark Tank?
Did Nexersys come to a dead end after the rejection of sharks? Fear not; you will be astonished knowing what happened to Nexersys after Shark Tank. Though Nexersys was in debt, Terry made a comeback.
Nexersys after Shark Tank, created hype among the people, and Terry used this opportunity to boost his business. The sales increased just after that episode. Using those additional profits, he converted the convertible subordinated notes into equity.
Finally, by 2019, Nexersys had cleared all its debt. With great persistence and belief, it worked out through all of the hardships and did not perish like most of the other companies under debt.
As of 2023, Nexersys is known worldwide for its fun yet effective exercise to train your body and keep you fit. You can buy the products from any country in the world through UBuy or Amazon.
Nexersys Net Worth
Before the Shark Tank, it was making great figures from sales, but it was still in debt. Nexersys even appeared in Forbes magazine in 2013. However, this could not make the spike needed to get out of debt.
After Shark Tank’s appearance, the marketing increased suddenly. Along with the founder’s hard work, it helped the company to gain worldwide recognition.
As a result, after going out of debt in 2019, in only 4 years, Nexersys secured a net worth of 5.2 million USD.
Nexersys Sales Data
Nexersys is a licensed private company. So, only authorized individuals should have access to its sales data.
However, in 2018, the company reported that it was doing great. The company shared that, just a few months after appearing in Shark Tank, sales increased by up to 450%. It also shared that 50% of its revenues came from software licenses and royalty revenue.
Nexersys has a $5.2 million net worth and excellent feedback on online platforms. So, it is clear the company has a good sales figure.
Is Nexersys Profitable Now?
Yes, the company is still profitable in 2023. In 2019, after getting out of debt, the company shared that it had $677,000 in equity.
While their sales data is private, based on tax and net worth, it is evident that Nexersys is still on the market.
Conclusion
Despite being turned down by the Sharks, from the Nexersys Shark Tank update, it is apparent that the entrepreneur did not sit back. Instead, using this fame and his intelligence, he made Nexersys successful.
With its exceptional products, Nexersys has gained the trust and admiration of people all over the world. Still, the founder is adding some offers and products for customer satisfaction.
