Hardware Podcasts

Bombas: David Heath and Randy Goldberg

How I Built This · 19 Sept 2022 · 1h 21m

What this episode covers

David Heath and Randy Goldberg, co-founders of Bombas, explain how they identified a gap in the sock market after learning socks are the most requested item at homeless shelters. They leveraged Heath's father's connection to industry veteran Steve Loenthal to develop a high-quality cotton sock with features like a seamless toe and honeycomb arch support through extensive prototyping. The founders bootstrapped the initial launch via an Indiegogo campaign, which raised $140,000, and later secured a deal on Shark Tank with Damon John that provided inventory financing rather than equity. They deliberately avoided venture capital to maintain control, focusing on sustainable growth and profitability, which allowed them to expand into apparel while maintaining their one-for-one donation model.

Most relevant to

early-stage companies

Topics

Mentioned

Companies
Bombas, Cutco, Urban Daddy, Goldtoe
Also
Steve Loenthal, Indiegogo, Shark Tank, Damon John

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