Martin Dimitrov, a 19-year-old kid, entered the stage of “Shark Tank Season 9 Episode 20,” to pitch his teenage passion turned into a fitness product.
What began as a simple problem in the gym transformed into a head-to-head negotiation battle with three Sharks. Let’s have a closer look at the story behind SnapClips and the way he handled the deal negotiations.
The Origin: Why SnapClips Exist?
The story behind the brand SnapClips began with a pain point: traditional barbell lifting collars are chunky, hard to adjust, and slow.
As a fitness enthusiast, Martin developed a better solution, which was inspired by slap bracelets.
Rather than going ahead with a time-consuming locking process, SnapClips designed a combination of a silicon grip, Kevlar material, and a Velcro strap. Thus, this made barbell collars easy to move, hold securely, and snap on.
Additionally, he began testing his invention on Kickstarter and raised approximately $23,040. Also, he completed deliveries of 600 orders. He had a word with CrossFit athletes, gym-goers, and powerlifters to further refine the product and make it more practical and lightweight.
SnapClips Shark Tank Pitch
Martin entered the Tank seeking $150,000 for a 15% equity, which would further value the brand at $1 million. His vision was to make weightlifting safer, more accessible, and faster.
While giving his demo, he showed how quickly they snap onto a barbell and how solid the Velcro lock is. This silent demonstration spoke volumes. However, Martin oversaw the economics; each SnapClip’s landing cost was $8.50, and it retails for $29.99 for a pair. This indicated higher margins.
As a college student, he made a point while pitching the product that if he got flyers and the brand took off, he would put school on hold.
The Sharks’ Offers
After Martin shared the financials and gave the live demo, Sharks began sizing up the opportunity:
- Robert Herjavec was interested in the product, though he decided to opt out of the negotiations.
- Barbara Corcoran was not able to relate to the fitness equipment and its market. Hence, she too bowed out of the deal.
- Lori Greiner saw the potential in the product, especially beyond gyms, such as storage and hoses. So, she offered a deal of $150,000 for 50%.
- Alex Rodriguez, the guest Shark, entered the negotiations, offering the same deal as Lori.
- Mark Cuban stole the limelight by offering $150,000 for a 30% equity. The equity will be split equally among the three Sharks, including Lori, Alex, and himself.
However, the ‘Wow’ moment during Martin’s pitch was when Alex, the guest Shark, insisted that Martin must stay in school and scale the business alongside.
The Big Moment: Martin’s Decision
The founder of SnapClips, Martin Dimitrov, decided to turn down the offer of Lori Greiner and Alex. He asked for a 50% equity, in view of the fact that giving away half of his company felt too steep, especially because it was the first round.
In the end, the deal was struck at $150,000 for a 30% equity, split equally among the three Sharks: Mark Cuban, Lori Greiner, and Alex Rodriguez.
Furthermore, Martin accepted the condition to remain in school, a smart move to balance his education and entrepreneurial drive. Mark made his point by stating that he will help Martin scale by introducing SnapClips to gyms and professional sports teams.
Alex, with his sports background, offered connections to his network, and Lori brought her keen sales and marketing expertise.
Why Was This Deal Special?
There were various reasons that made this deal special. Let’s look at some of those.
- Three Sharks United: It’s rare for three Sharks to make a single offer together. The combined expertise and network power they brought was tremendous.
- Valuation Trade-Off: Instead of pushing for more money, Martin preserved more of his company by lowering his dilution from Lori’s 50% ask.
- Strategic Value Over Cash: The Sharks weren’t just betting on a prototype, but they saw SnapClips as a long-term, scalable gym and fitness tool.
- Education Compromise: The clause to stay in college showed maturity. Rather than burning bridges or closing doors, Martin balanced both worlds, learning and building.
After the Show: What Happened to SnapClips?
Following his time on Shark Tank, Martin didn’t just walk away with a check; he walked away with validation.
- He signed a private label deal with CrossFit in 2018, expanding SnapClips’ reach into a passionate, performance-focused community.
- By the end of 2018, SnapClips was selling in over 30 countries.
- As of April 2024, the business had over $6 million in lifetime sales.
- The net worth of SnapClips was estimated at around $5 million as of 2025.
What Makes SnapClips a Smart Business?
Let’s look at some reasons why SnapClips is considered a smart business model.
Innovation and Patented Design
SnapClips wasn’t just a “me-too” product. The founders filed patents, and the design, including Kevlar, silicone, and Velcro, was unique, robust, and gym-grade.
Clear Value Proposition
Users save time. Swapping weights is faster. The locking mechanism is strong but requires little effort. This is exactly the kind of pain point that serious gym-goers and professional lifters feel.
Scalable Market
Gyms, CrossFit boxes, strength-training facilities, and home lifters, the target market is huge and diverse.
Credible Backing
Having three Sharks on board, especially with Mark Cuban’s business sense and Alex Rodriguez’s fitness network, gave the company not just money, but muscle.
Takeaway: Why SnapClips Still Resonates in 2025?
The SnapClips pitch on the Tank’s season 9, episode 20 is a significant example of courage, invention, and smart negotiation skills required to win at Shark Tank.
Martin did not just step out with a check; instead, he found America’s three greatest investors who believed in his product and were willing to bet on the potential of the brand.
Alex’s condition that Martin must stay in school and expand the business side by side showed that the Sharks believed in his entrepreneurial drive.
Entrepreneurs today can learn multiple aspects from the pitch. One of the most important aspects was protecting your patent by thoughtful engineering.
On the other hand, it teaches to start small, like using crowdfunding tools to validate the business model, and if the invention solves a real pain point, like in the case of Snapclips, people will be willing to pay.
