Bombas
 | |
| Industry | Clothing |
|---|---|
| Founded | 2013 |
| Founders | Randy Goldberg, David Heath |
| Headquarters | |
| Website | bombas |
Bombas is an apparel brand. The company originally sold socks and began selling T-shirts in 2019. For every item purchased, a clothing item is donated to a homeless shelter or homelessness-related charity.
History[edit]
Bombas launched in 2013, after founders Randy Goldberg and David Heath[1] learned that socks are the most requested clothing item in homeless shelters.[2] They established the brand’s mission to donate one pair of socks for every pair purchased.[2]
The company first received funding in 2013, raising nearly $145,000 through the crowdfunding website Indiegogo. A year later, the company raised $1 million in seed funding from friends and family.[3] The founders appeared on a September 2014 episode of ABC’s Shark Tank and secured a deal with Daymond John, with John providing $200,000 for 17.5% of the company.[4] In 2018, the company exceeded $100 million in revenue.[5]
By April 2020, Bombas had donated 35 million pairs of socks.[6]
In June 2020, Bombas released a collection of socks for which the company would donate an apparel item to a charity supporting LGBT youth for each item purchased.[7] As of October 2023, they’ve done $1.3 billion in retail sales.[8]
See also[edit]
References[edit]
- ^ Segran, Elizabeth (July 29, 2017). "Getting Startups Fired Up About Social Justice, One Sock At A Time". Fast Company. Retrieved October 25, 2017.
- ^ a b D'Innocenzio, Anne (August 19, 2018). "Online socks seller Bombas mixes commerce and charity". AP News. Retrieved November 8, 2019.
- ^ Gelles, David (March 19, 2016). "Selling High-End Socks by Giving Them Away". The New York Times. Retrieved October 25, 2017.
- ^ Montag, Ali (August 22, 2017). "How Daymond John faced failure and ended up winning big". CNBC. Retrieved April 30, 2023.
- ^ Weisul, Kimberly (May 16, 2019). "Bombas: Charitable at the Start, Profitable by Year 3, and Only 3 Employees Have Ever Quit". Inc.com. Retrieved November 8, 2019.
- ^ Leighton, Mara (April 17, 2020). "Bombas socks review: the best socks we've ever worn". Business Insider. Axel Springer SE. Retrieved April 21, 2020.
- ^ Miller, Charlie; Miller, Carballo (May 12, 2020). "Celebrate LGBTQ Pride Month With Gear From Brands That Give Back". Footwear News. Archived from the original on May 24, 2020. Retrieved May 29, 2020.
- ^ "Bombas Socks – $100 Million Shark Tank Success Story". TechieGamers.com. Retrieved October 31, 2023.