Kymera was a bust on Shark Tank
Jason Woods began his pitch to the Sharks by expressing how jet skis and other large watercraft are a hassle to deal with. Woods said that Kymera, on the other hand, was lightweight and a breeze to use. He played a video to demonstrate the board in action on the water, prompting immediate questions from the Sharks. Lori Greiner asked if beachgoers would be safe, while Kevin O’Leary asked about the product’s specifications.
Woods explained that Kymera could reach speeds up to 15 miles per hour, but only last 30 minutes to an hour on one charge. This information miffed O’Leary. When Woods said he had been in business for 10 years, Mark Cuban appeared astounded.
The tension in the tank intensified when Woods explained that he did not have a finished product to sell and that his Kickstarter fund had failed. Woods said this was because Kickstarter only allowed him to sell one Kymera per person, and customers wanted to buy multiples. The Sharks, however, found this laughable and were troubled that Woods had failed to file a patent on Kymera.
Mark Cuban slammed Woods and passed on Kymera, notably telling Woods, “You’re not an entrepreneur, you’re a want-to-preneur.” Due to safety concerns, Greiner said she was out. Daymond John told Woods his pitch was the worst he had encountered, and O’Leary said he did not believe in Kymera’s $1 million evaluation. Guest Shark John Paul Dejoria politely turned down Woods as well.
Kymera bounced back
lawrence_faulkner/ Instagram
Jason Woods (pictured above on the left) walked out of the tank with nothing and expressed anger at the Sharks for failing to see Kymera as a budding business opportunity. Despite this, Woods did not stay down for long. In a 2018 interview with Inc. Magazine, Woods said his unsuccessful 2013 “Shark Tank” episode was not a complete loss. He told the publication, “If you have a good idea and the whole thing goes sideways, and they tell you, ‘You’re terrible,’ that’s the best thing to happen.”
Per Inc. Magazine, eight investors who saw the episode provided Woods with the $250,000 he had asked the Sharks for; ultimately leading to Kymera earning $2.2 million in sales. Woods also brought on Adam Majewski to the company. Majewski’s LinkedIn states that he became Kymera’s Chief Operating Officer in 2014.
In April 2019, Woods, with Majewski in tow, returned to “Shark Tank” on Season 10, Episode 21. Although water gear (like Kymera and ZUP watersports boards) don’t have an excellent track record on the show, things were about to change.
Woods walked into the tank again and proclaimed Kymera “the world’s first all-electric, jet-propelled bodyboard.” He asked the Sharks for $250,000 in exchange for 5% of Kymera, but would his request be fulfilled this time?
Kymera was vindicated on Shark Tank
Sony Pictures Entertainment/ Instagram
On his second “Shark Tank” appearance, Jason Woods addressed the Sharks as he replayed clips from his ill-fated 2013 episode and noted that while their comments were harsh, they influenced him to dedicate his life and career to Kymera. Woods then introduced Adam Majewski, who explained that they had designed a new and improved bodyboard. In addition, Woods revealed that they were working on an electric kayak, jet surfboard, and watercraft. In other words, business was booming, with Majewski stating they had raised $625,000 via investors.
Woods told the Sharks that the bodyboard was selling for $3,500. Although this price is much cheaper than a jet ski, Kevin O’Leary was unhappy that it cost $1,800 to make one product. Majewski chimed in, saying they had direct-to-consumer sales and had recently signed a deal with a luxury boat manufacturer to guarantee future sales.
The Sharks were apprehensive, but Majewski carried on, saying that they had sold $900,000 worth of bodyboards in 12 months. When questioned about the $250,000 he needed, Woods told the Sharks it would be used on inventory.
O’Leary made an offer but said he was doubtful he would make any return investment on Kymera and wanted $500 for each board they sold until they made $750,000. Daymond John said he would provide the $250,000 for 10%. However, Mark Cuban and Lori Greiner said they were out.
Robert Herjavec said he loved a redemption story and would give $500,000 for 10% of Kymera. Without thinking twice, Woods and Majewski excitedly accepted his deal.
Kymera is still in business as of 2023
@kymerajetboards
You can’t have more fun on the water than with a Kymera. #kymerauk #kymerabodyboard #bodyboard #bodyboarding #jetboard #watersport #jetski #yachttoy
♬ Head & Heart (feat. MNEK) – Joel Corry
It’s unclear how the deal made with Robert Herjavec affected Kymera. However, the company is on Twitter, Facebook, and Instagram, where they proudly state they were on “Shark Tank” twice. While they don’t post frequently, they do post every few months. In April 2022, Kymera announced on Instagram that they were crowdfunding on Wefunder. As of October 2023, their Wefunder is still live and states that Kymera has made $4.5 million in revenue. In August 2023, Kymera revealed on Instagram that they were sold out and looking to restock their boards by April 2024.
The bodyboard is the only available item for purchase at the time of publication. Kymera, it seems, abandoned creating the other products Woods demonstrated on the 2019 episode of “Shark Tank.” Kymera Body Board currently retails for $4,999 and comes in five colors: yellow, lime green, orange, white, and pink. Each bodyboard includes a battery, battery case, charger, and a bag for the board. It can run for an hour on a two-hour charge at a top speed of 20 miles per hour.
In other words, the board has vastly improved since 2013. Although it was designed to have fun on the water, a YouTube video posted on Kymera’s page denotes that lifeguards have used it to rescue people in danger. Jason Woods and Adam Majewski are still involved in Kymera. Woods does not appear to be active on social media, but he did do an interview with the eCommerce Uncensored podcast in 2021.
