591: From $0 to $3.4 BILLION Selling Socks | Bombas (Best of Foundr)

Sep 26, 2025

David Heath and Randy Goldberg, co-founders of Bombas, transformed a $140K Indiegogo campaign into a $3.4B brand known for its one-for-one donation model. They discuss how a simple insight about homelessness sparked their mission. The duo shares their strategies for bootstrapping, navigating Shark Tank, and scaling profitably. They reveal the importance of authenticity in branding and the lessons they've learned about balancing purpose with profit. Their journey offers invaluable insights for aspiring entrepreneurs.

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ANECDOTE

Idea Sparked By A Facebook Post

David Heath found a Facebook post that socks were the most requested item in homeless shelters and that sparked the idea for Bombas.
He and Randy began carrying socks and handing them out, which confirmed the problem and inspired the one-for-one model.

ADVICE

Validate With Crowdfunding And Email

Use a crowdfunding campaign to validate demand and capture email leads before scaling.
Launch a site from that list and use email as your first acquisition channel to save money.

INSIGHT

Bootstrapping Trains Better Business Muscles

Bootstrapping forces disciplined problem-solving and sustainable unit-economics thinking.
Bombas raised only about $4M total and built proof step-by-step rather than relying on large VC checks.

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David Heath and Randy Goldberg turned Bombas from a scrappy Indiegogo campaign into the most successful Shark Tank investment of all time—now valued at $3.4 billion. In this interview, the Bombas co-founders share how a simple insight about homelessness sparked a mission-driven sock company, how they bootstrapped their way to product-market fit, and the strategies that allowed them to scale profitably in one of the most competitive eras of eCommerce. From bootstrapping and fundraising to Shark Tank, celebrity endorsements, and building a brand people love, this episode is a masterclass in combining profit with purpose. What you’ll learn from this interview: • How Bombas grew from a $140K Indiegogo campaign to a $3.4B business • The one-for-one donation model and why it worked when others doubted it • Bootstrapping tactics that fueled growth before raising outside capital • The Shark Tank experience and why it was a turning point for the brand • How Bombas navigated rising customer acquisition costs and scaled profitably • The mindset shifts needed to build a mission-driven business at scale • Why focus, authenticity, and constraints can be the biggest drivers of innovation By the end of this interview, you’ll walk away with a playbook for building a business that blends purpose with profit—so you can grow faster, stay focused, and create a brand that stands the test of time. SAVE 50% ON OMNISEND FOR 3 MONTHS Get 50% off your first 3 months of email and SMS marketing with Omnisend with the code FOUNDR50. Just head to https://your.omnisend.com/foundr to get started. HOW WE CAN HELP YOU SCALE YOUR BUSINESS FASTER Learn directly from 7, 8 & 9-figure founders inside Foundr+ Start your $1 trial → https://www.foundr.com/startdollartrial PREFER A CUSTOM ROADMAP AND 1-ON-1 COACHING? → Starting from scratch? Apply here → https://foundr.com/pages/coaching-start-application → Already have a store? Apply here → https://foundr.com/pages/coaching-growth-application CONNECT WITH NATHAN CHAN Instagram → https://www.instagram.com/nathanchan LinkedIn → https://www.linkedin.com/in/nathanhchan/ CONNECT WITH BOMBAS Website → https://bombas.com/ Instagram → https://www.instagram.com/bombas/ LinkedIn → https://www.linkedin.com/company/bombas/ David's LinkedIn → https://www.linkedin.com/in/davidtheath/ Randy's LinkedIn → https://www.linkedin.com/in/randysgoldberg/ FOLLOW FOUNDR FOR MORE BUSINESS GROWTH STRATEGIES YouTube → https://bit.ly/2uyvzdt Website → https://www.foundr.com Instagram → https://www.instagram.com/foundr/ Facebook → https://www.facebook.com/foundr Twitter → https://www.twitter.com/foundr LinkedIn → https://www.linkedin.com/company/foundr/ Podcast → https://www.foundr.com/podcast