Bombas
Bombas is an American D2C apparel company headquartered in New York City, founded in 2013 by David Heath, Randy Goldberg, Andrew Heath, and Aaron Kershaw. Known for its buy-one-give-one model, Bombas donates a clothing item to homeless shelters for every item purchased. The company initially focused on premium socks and expanded to T-shirts, underwear, and slippers. Bombas gained prominence after appearing on Shark Tank in 2014, securing a deal with investor Daymond John. By 2024, Bombas had achieved over $1.3 billion in lifetime sales and donated over 150 million clothing items. The company is recognised for its social impact and innovative product design, including features like seamless toes and arch support.[1][2]
 | |
| Company type | Private |
|---|---|
| Industry | Apparel |
| Founded | October 2013 |
| Founder | David Heath, Randy Goldberg, Andrew Heath, Aaron Kershaw |
| Headquarters | New York City, New York, United States |
Key people | David Heath (CEO), Randy Goldberg (Chief Brand Officer) |
| Products | Socks, T-shirts, underwear, slippers |
| Revenue | US$325 million (2024) |
Number of employees | 245 (2024) |
| Website | bombas |
Founders & Leadership
- David Heath (CEO): Holds a degree from Babson College. Prior to Bombas, Heath worked at a lifestyle media company. He is the driving force behind the company’s mission to address homelessness through sock donations, inspired by a social media post highlighting socks as the most requested item in homeless shelters. Heath is also known for his commitment to the buy-one-give-one model.[3]
- Randy Goldberg (Chief Brand Officer): Graduated from the University of Michigan with a degree in English. Goldberg has a background in media and marketing, having served as a creative strategist at MTV and vice president of marketing at Bonobos. He oversees Bombas’ branding and marketing strategies.[4]
- Andrew Heath: A co-founder with a background in business operations, contributing to the company’s early development and operational strategies.
- Aaron Kershaw: A co-founder involved in the initial product development and business planning, with a focus on operational efficiency.
Origin & Founding Story
Bombas was founded in 2013 after David Heath and Randy Goldberg, former colleagues at a media startup, identified socks as the most requested clothing item in homeless shelters via a Facebook post. Inspired by TOMS’ buy-one-give-one model, they spent two years researching and developing high-quality socks with features like seamless toes and arch support. The company launched with a crowdfunding campaign on Indiegogo, raising $145,000, far exceeding its $15,000 goal. The name "Bombas," derived from the Latin word for bumblebee, reflects their mission to "bee better" by combining commerce with social impact. In 2014, Bombas appeared on Shark Tank, securing a deal with Daymond John, which propelled its growth.[5][6]
Timeline
| Year | Milestone |
|---|---|
| 2013 | Bombas founded by David Heath, Randy Goldberg, Andrew Heath, and Aaron Kershaw. Launched Indiegogo campaign, raising $145,000.[7] |
| 2014 | Appeared on Shark Tank, secured $200,000 for 17.5% equity from Daymond John. Website crashed due to surge in demand post-episode.[3] |
| 2015 | Recorded $4.6 million in annual revenue.[5] |
| 2017 | Revenue reached $46.6 million. Donated 7 million pairs of socks.[6] |
| 2018 | Surpassed $100 million in annual revenue. Expanded to wholesale partnerships with Nordstrom and Dick’s Sporting Goods.[8] |
| 2020 | Donated 35 million clothing items. Launched collection supporting LGBT youth charities.[7] |
| 2023 | Achieved $1.3 billion in lifetime sales. Donated over 100 million clothing items.[1] |
| 2024 | Reported $325 million in annual revenue. Donated over 150 million clothing items.[1] |
Funding
| Date | Round | Amount | Investors |
|---|---|---|---|
| August 2013 | Crowdfunding | $145,000 | Indiegogo backers[7] |
| 2014 | Seed | $1 million | Friends and family[7] |
| September 2014 | Shark Tank Investment | $200,000 for 17.5% equity | Daymond John[1] |
Business Model
Bombas operates a D2C model, selling apparel directly through its website and select retail partners like Nordstrom and Amazon. Its buy-one-give-one model donates a clothing item to homeless shelters for each purchase, targeting socially conscious consumers. Revenue is generated through sales of premium socks, T-shirts, underwear, and slippers, with a focus on quality and comfort. Customer segments include millennials, socially responsible buyers, and those seeking high-performance apparel. The company partners with over 3,500 shelters and organisations across the United States to distribute donations.[1][3]
Products / Services
- Socks: Premium athletic and casual socks with features like seamless toes, arch support, blister tabs, and moisture-wicking fabrics. Designed for comfort and durability.[4]
- T-shirts: Introduced in 2019, made with soft, breathable materials for casual wear.[7]
- Underwear: Launched post-2018, designed for comfort with features like reinforced seams.[1]
- Slippers: Added to the product line, focusing on cozy, durable designs.[3]
- Donation Program: For every item purchased, Bombas donates a specially designed item to homeless shelters, tailored to the needs of recipients with antimicrobial treatments and reinforced seams.[1]
Growth & Metrics
As of 2024, Bombas has achieved significant growth:
- Revenue: $325 million annually (2024).[1]
- Lifetime Sales: Over $1.3 billion.[1]
- Donations: Over 150 million clothing items donated to homeless shelters and community organisations.[1]
- Team Size: Approximately 245 employees.[1]
- Reach: Operates in all 50 U.S. states with partnerships with over 3,500 giving partners.[3]
The company’s growth was accelerated by its Shark Tank appearance, which led to a surge in sales and brand visibility.[5]
Legal Entity Information
| Field | Details |
|---|---|
| Legal Name | Bombas LLC |
| Foundation Date | October 2013 |
| Registrar of Companies (ROC) | New York State Department of State |
| Registered Address | 115 5th Ave, New York, NY 10003, USA |
| Email ID | hello@bombas.com |
| Company Status | Active |
| Directors | David Heath, Randy Goldberg |
Media & Public Recognition
- Shark Tank Success: Recognised as the most successful product in Shark Tank history with over $1.3 billion in lifetime sales.[1][9]
- Media Coverage: Featured in Forbes, CNBC, Entrepreneur, and Inc. for its business model and social impact.[3][5][2][6]
- Social Impact Awards: Acknowledged for donating over 150 million clothing items, highlighted by LinkedIn posts from Daymond John.[10]
- Certified B Corp: Recognised for meeting high standards of social and environmental performance.[11]
FAQs
- What is Bombas’ business model?
- Bombas operates a buy-one-give-one model, donating a clothing item for every purchase, alongside selling premium apparel directly to consumers.[1]
- How did Bombas start?
- Founded in 2013 after David Heath and Randy Goldberg learned socks were the most requested item in homeless shelters, Bombas launched via an Indiegogo campaign.[7]
- What was Bombas’ Shark Tank deal?
- In 2014, Bombas secured $200,000 for 17.5% equity from Daymond John on Shark Tank.[1]
- How many items has Bombas donated?
- As of 2024, Bombas has donated over 150 million clothing items to homeless shelters and community organisations.[1]
External Links
Related Startups
- TOMS – Footwear and apparel company with a similar buy-one-give-one model.
- Warby Parker – Eyewear brand with a D2C model and social impact focus.
- Allbirds – Sustainable footwear and apparel brand competing in the comfort-focused market.
References
- ↑ 1.00 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.10 1.11 1.12 1.13 1.14 "7 Bombas Statistics (2025): Revenue, Sales, Ownership, Shark Tank". taptwicedigital.com. 11 April 2025. Retrieved 1 June 2025.
- ↑ 2.0 2.1 "Shark Tank's Most Successful Brand of All Time Wasn't Even Supposed to Be a Business at First". entrepreneur.com. 30 October 2023. Retrieved 1 June 2025.
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 "How The Billion-Dollar Sock Guys From 'Shark Tank' Learned To Say No". forbes.com. 15 May 2024. Retrieved 1 June 2025.
- ↑ 4.0 4.1 "Bombas Shark Tank Update". seoaves.com. 1 March 2024. Retrieved 1 June 2025.
- ↑ 5.0 5.1 5.2 5.3 "Daymond John-backed start-up Bombas is reinventing the sock". cnbc.com. 16 April 2019. Retrieved 1 June 2025.
- ↑ 6.0 6.1 6.2 "This $47 Million Startup Just Reached Its Goal". inc.com. 13 February 2018. Retrieved 1 June 2025.
- ↑ 7.0 7.1 7.2 7.3 7.4 7.5 "Bombas". wikipedia.org. 26 October 2017. Retrieved 1 June 2025.
- ↑ "How Bombas Built A $100 Million Brand By Giving Away Socks". privy.com. 18 March 2020. Retrieved 1 June 2025.
- ↑ "What Is the Most Successful Product on Shark Tank?". ceotodaymagazine.com. 2 September 2024. Retrieved 1 June 2025.
- ↑ "Daymond John on LinkedIn: Bombas Is the Most Successful 'Shark Tank' Brand". linkedin.com. 7 November 2023. Retrieved 1 June 2025.
- ↑ "How Bombas' founders built a billion-dollar business". fortune.com. 20 December 2024. Retrieved 1 June 2025.