From sugar-based skincare to a smiley-faced sponge, Shark Tank, the hit American TV show has had its share of hugely popular pitched products since it first aired in 2009. Read on to discover the best products to date, the most successful deals ever and how a Shark Tank reject bounced back with a billion-dollar deal with Amazon...
Teen entrepreneur, Lani Lazzari, bravely faced the sharks back in 2013 with hopes of gaining funding for her sugar-based skincare line Simple Sugars. The 18-year-old wowed Mark Cuban with her pitch, offering Lazarri $100,000 for a third of her company, which she happily accepted. It was a smart decision, as within three days of airing sales boomed to $600,000. This success has continued and in 2018 Lazzari said that the business was on track to reach $2.5 million in sales that year.
Shaan Patel, creator of Prep Expert (formally know as 2400 Expert), pitched his idea for an education start-up to help students ace standardised tests to the sharks in January 2016. Patel’s request for $250,000 in exchange for 10% equity for his company was rejected by almost all the sharks, concerned that Patel could not fully commit due to college commitments. However, Mark Cuban believed Patel could continue as a student entrepreneur and offered the money for 20% equity. Since then, Prep Expert has helped thousands of students nationwide, and generated $6 million in revenue in 2018.
Self- named “ageing hippie athletes” Steven Sasha and Lena Phoenix created Xero barefoot running shoes back in 2009 and pitched to the sharks in 2013. Although the couple failed to get their desired $400,000 for an 8% share of Xero from the sharks, the business has flourished, and benefited from the publicity. The company saw sales grow by 84% between 2014 and 2018, and it sold $8.8 million worth of running shoes in 2018.
Oregon entrepreneur James Martin presented his wine-in-a-cup idea to the sharks not once but twice in seasons two (2011) and three (2012). After appearing on the show the first time sales leaped from $600,000 to $5 million a year and producers gave him another chance to pitch for a deal. But he walked away without a deal both times. Described as “the one that got away” by shark Kevin O'Leary, Martin has made a tremendous success of Copa Di Vino, and reportedly made $12 million in sales in 2016.
Appearing in the same episode as Copa Di Vino in season two in March 2011, Shawn Davis' gourmet seafood burger concept was rejected by the hard-to-please sharks, and he was left empty-handed. But Davis' appearance on the show got his brand attention and he soon found another investor, and sales of his shrimp pattie went from $30,000 to $5 million in just one year. Chef Big Shake has since stopped selling his burgers in grocery stores because of the fees, but they can still be found in restaurants and Davis has started franchising out his restaurant.
Brian and Julie Whiteman, the husband and wife team appeared on the show in January 2014, pitching Groovebook, a mobile app and subscription service that prints a selection of smartphone photos every month and sends them as a personalised photo book to the customer. Mark Cuban and Kevin O'Leary offered the couple $150,000 in exchange for 80% of the licensing rights. Subscribers increased from 30,000 to 500,000, and in 2014 Groovebook was bought by Shutterfly for a whopping $14.5 million.
Fitness enthusiasts Erik Hopperstad and Brian Brosh presented their home gym system PRx Performance to the sharks back in 2016 asking for an $80,000 investment for 10% equity. The creation takes big gym equipment and compacts it for smaller spaces. Hoppsterstad and Brosh bagged a deal with shark Kevin O’Leary, who offered them $80,000 for 20% and 20% of any distributions. Since the episode’s air, the business has reportedly earned $15 million in sales.
Military couple Eli and Jennifer Crane were seeking a $150,000 investment in exchange for 10% for their personalised 50 calibre bullet bottle openers. The pair appeared on the show in 2014 branding it the “the ultimate manly gift” but wanting to breach the market further. Sharks Mark Cuban and Kevin O’Leary saw the potential and offered a combined deal of $150,000 for 20% of the company, which the couple accepted. Since their appearance Bottle Breachers nearly reached $17 million in sales as of August 2018 according to their website.
Beach towel startup co-founders Brandon Leibel, Bruno Aschidmanini and Steven Ford took on the sharks in 2017, with the hopes of expanding their already successful business, having already made $2.4 million in sales in 2016. The surfers took their Shark Tank appearance very seriously and won a $200,000 investment in exchange for 15% of the business. The friends used the money to improve their website for growth. It's worked: between 2015 and 2018 revenue grew by 1,469%, and in 2018 alone they generated sales of $6.8 million.
Another avid surfer and paddleboarder, Stephen Aarstol, presented his pitch on Shark Tank for a stand-up surfboard in 2012. All of the sharks declined to invest except Mark Cuban, a guest shark at the time, who decided to invest $150,000 for 30% of Tower Paddle Board. With Cuban’s help, the company amassed an impressive $33 million in sales as of last year, expanding beyond the online market by opening a physical store in Sand Diego in 2017.
Another flourishing fashion firm and Barbara Corcoran's most successful Shark Tank investment, Grace & Lace has been a major moneymaker since company husband-and-wife founders Rick and Melissa Hinnant appeared on the show in November 2013. Corcoran offered $175,000 in the company in exchange for 10% equity. And it was a savvy investment as the affordable boho style clothing company made $36 million in sales as of 2018.
The world's most unusual TV business pitches
In 2012, cousins Sabin Lomac and Jim Tselikis set up a gourmet food truck in Los Angeles specialising in Maine imported lobster and didn't waste any time successfully selling the rolls to seafood-loving Los Angelenos. Eager to start a chain, the cousins pitched their business to the sharks in November 2013 and made a deal with New York real estate queen Barbara Corcoran, who invested $55,000 for 15% equity. An ambitious expansion programme followed, and the cousins now have a fleet of trucks across the USA, with revenues reaching a reported $50 million as of last year.
Maximising on the ugly Christmas jumper trend, Evan Mendelsohn and Nick Morton founded novelty clothing company Tipsy Elves in 2011. Mendelsohn and Morton turned to the sharks for some much-needed funding, in December 2013. Robert Herjavec recognised the company’s potential, offering $100,000 for 10%. Thanks to his help, Tipsy Elves has reportedly earned an incredible $100 million in sales as of 2018. It still holds the title of Herjavec's most successful investment to date.
Creator of Sleep Styler Tara Brown made quite the entrance on the show in May 2017, donning her prototype curlers that style your hair while you sleep. Tara’s appearance was over in a brief 20 minutes, with Lori Greiner agreeing to invest $75,000 for 25% equity of the business. According to Greiner’s website, Sleep Styler sold $50 million in the two years after it featured on Shark Tank. Pretty impressive.
Another Shark Tank reject that ended up making big bucks are entrepreneurs Cameron Smith and Joel Clark of Kodiak Cakes, a flapjack and waffle mix made with 100% whole grains and no added fats or sugars. Although they received an offer from Kevin and Barbara, wanting 50% equity in exchange for $500,000 split between them, the two declined the offer. Despite no deal, Kodiak Cakes has since skyrocketed in popularity, taking the crown of best-selling pancake mix at Target, and achieving $100 million in sales in 2018.
Now discover Shark Tank rejects who got rich anyway
Sometimes simple is better, which Lori Greiner has an eye for. Another moneymaker to add to her huge list of successful deals is the Simply Fit Board, a fitness balance board for core exercises, pitched by Gloria Hoffman and her mother Linda Clark back in 2015. Greiner immediately loved the simplicity of the product offering to invest $125,000 for a 20% stake in the company. Since then, the company has reportedly made $152 million in retail sales of its products as of 2018.
Scrub Daddy, the multi-tasking sponge company created by Aaron Krause is one of the most successful Shark Tank products of all time. Car dealer Krause pitched his product back in December 2012 and was picked up by Lori Greiner, who bagged a 20% stake in the company for $200,000. Greiner’s investment and expertise were just what Scrub Daddy needed to quickly become America’s number one sponge, generating $170 million in revenue.
Now discover The secrets of America's top business sharks' success
Appearing on the show back in September 2013, Jamie Siminoff wanted a $700,000 investment in his company Doorbot, which makes camera doorbells that connect to your phone, so you can see who’s at the door before opening it. The sharks quickly dropped out and Siminoff was left with an unsatisfactory offer from Kevin O'Leary, which he turned down. All was well in the end, as sales exploded after the episode aired. In 2015 Simonoff, who has since rebranded Doorbot as Ring, sold his company to Amazon for over $1 billion in early 2018.