The Pitch of a Lifetime

Alumnus Matt Walsh and his business partner land a deal on ‘Shark Tank’ for their unique company

by Courtney Meinhold 

Matt Walsh and his business partner, Dax Holt, made an appearance on ABC’s “Shark Tank,” Season 12 Episode 9.  Walsh, an alumnus from the Craig School of Business at Fresno State, had the experience of a lifetime when his company, TrophySmack, a customizable fantasy sports trophy company, made a deal with well-known entrepreneur and investor Mark Cuban.

Cuban agreed to $600,000 for 17% equity in TrophySmack, which is based in Southern California.

Fresno State Magazine caught up with Walsh to ask about his experience.

FS Mag: Tell me about yourself.

Walsh: I was born and raised in Lancaster. I have always had a passion for entrepreneurship. I remember going door to door in second grade selling origami and little crafts to neighbors and friends. Any hobby I had growing up would turn into a little business. As a teenager, I had a lot of success with an online business and was doing really well for a kid in high school. Comfortable in my job and in my town, I wanted to stay there and not pursue higher education. My parents laughed me out of the house, and that’s when I ended up at Fresno State.

What was the reason you decided to launch TrophySmack?

In 2018, my now business partner, Dax Holt, asked me to join his fantasy football team. The entrepreneur in me saw this as a business opportunity, and I wanted to win. I would do research, listen to podcasts, watch every game, and put all of my energy into it. Needless to say, I made it into the finals and, as someone who has never played before, I wanted to do something over the top for the winner. The bigger the better. Searching for a standing 6-foot trophy, credit card in hand, I couldn’t find what I was looking for. All of the items on the market were the same thing, a very traditional, standard-size trophy. My entrepreneur spirit came out, and as I started researching the fantasy sports industry, I saw this as a game-changing opportunity. I didn’t end up winning the league or trophy (Dax did), but I think we both ended up winning. The rest is history.

How did your education at Fresno State prepare you for this?

I was in the business administration program with an entrepreneurship option. When you think of entrepreneurship, oftentimes you think someone is born with the trait or is this something that can be taught? I learned you have to be able to function and take risks in an uncertain environment. When I think back to my time at Fresno State, it proves there is a teaching/learning aspect. I truly hold my experience there in such a high regard. The professors, the programs and curriculum overall are things that have impacted me and that I use in my everyday life.

What was it like preparing to go on the show from the time you found out until the filming?

The opportunity to be on “Shark Tank” was a bucket-list item for me and was an experience all in its own. I’ve watched the show since Season 1 and was nervous to be on camera. I know my company and the ins and outs of how to run a business. I know how to act and pitch in a boardroom full of executives and investors. But pitching in front of the sharks was something special, something I had never done previously. My business partner had more experience on camera. We were quarantined for eight days straight in our hotel rooms and we would practice, practice, practice. We thought of every question they would potentially ask.

When was the filming?

Coincidentally, Dax and I share the same birthday and filming happened to take place that week. We were quarantined together for a week and did a virtual celebration with our families. Filming took place Aug. 8 and aired on Shark Tank Season 12, Episode 9, in 2021.

Talk about the feelings you had walking down that hall when the doors opened and you saw the sharks waiting.

Everything happened so fast. When it was time to film, it was the first time outside of our hotel room in eight days. The producers brought us down to the lobby to meet the producers. They gave us and the other pitching entrepreneurs a tour of the set and explained to us what was going to happen. When the tour ended, the producers said, “TrophySmack, you’re up!” They sent a runner to get our personal belongings and it was our time. We were rocked a bit because it was happening so fast. Dax and I asked to “use the bathroom” and practiced our pitch one last time and we were ready. They opened the doors, no music playing like on the show, and it was surreal. Once we did our pitch and the questions started to flow in, I was in my element. All of the practice and repetition paid off. We spent 90 minutes with the sharks discussing our venture and ended up making a deal with Mark Cuban.

When it aired, did you have a watch party or how did you celebrate?

Unfortunately, due to COVID and the circumstances, we were unable to host a big watch party. We did, however, celebrate with our closest friends and family. The day the episode aired was an intense and busy day for us. We wanted to make sure all of our product was on the website, ready to be viewed. We were at the office 30 minutes before the episode aired on the east coast. We met up with our family, arrived at a house filled with “Shark Tank” inspired decor, and got to be with the ones we loved and those who helped make this journey possible. When the episode aired it was surreal to see all of the analytics and traffic to our website.

Have you heard from a lot of people since the show aired?

I was overwhelmed with all of the best wishes and messages. It was so great to hear from people I haven’t heard from in a while. Old colleagues, classmates, professors, old clients, you never realize how many people you’ve encountered in life. We are so thankful.

Talk about what it’s like working with Mark Cuban.

The partnership with Mark Cuban has exceeded all of my expectations. He is so active and engaged in our business. He takes time to introduce me to potential partners, he replies to all emails timely, and he is a true businessman.

What advice do you have for current students or young entrepreneurs who want to start businesses?

You have to love the process. The setbacks and challenges come with being an entrepreneur. You have to truly enjoy getting to the next step and understand that there’s no finish line or guarantee. Hard work pays off and if you have a passion or talent pursue it.

What are your best memories from your time at Fresno State?

I met my wife at Fresno State. I have so many great memories as a student.  I am thankful for my student-life experiences and the education Fresno State provided.