“I think the price of Bitcoin, on a long-term basis, will quantuple, if that’s a word,” Shark Tank’s Robert Herjavec told Kitco News in a Feb. 25 interview
Sharks are known for being ocean predators waiting for their next target. And, in a show like Shark Tank, you’re the bait. Known for bringing innovation to a whole new level, the show is a chance for young entrepreneurs to present unique products and persuade investors whether or not it’s worth putting money into.
One of the show’s co-host, Robert Herjavec, recently made known his fondness regarding digital payments. He brought up one of America’s leading cryptocurrency, Bitcoin (BTC), stating that the value of the brand would only multiply during its term.
Herjavec swears upon digital currency as he looks forward to the future success of the digital payment platform. Bitcoin was deemed a convenient form of money transfer, that within the day and age we live in, would serve as a better option especially for consumers finding the easy route.
Despite being a multi-billionaire, he confuses the term ‘Bitcoin’ with the cryptocurrency market in its entirety. The term cryptocurrency may seem like a heavy term for someone who’s only starting in the business, however, it sums up to using cryptography to secure financial transactions. Granted, bitcoin became the face of cryptocurrency.
Mark Cuban, Herjavec’s co-host, agreed with his beliefs that the cryptocurrency market is an asset worth investing. Though, Cuban says otherwise, seeing the Bitcoin brand as a collectible.
The Bitcoin currency, still, received a seal of approval from Robert Herjavec as well as his utmost support by using digital payment and the fragmented industry.
Before Shark Tank, Lori Greiner was best known as the charming QVC network host, and the creator of the show Clever and Unique Creations. As a prolific inventor and businesswoman, Greiner has launched over 400 products, holds over 120 patents globally, and is a best-selling author. She takes her passion to Shark Tank and is fondly known as “The Warm Blooded Shark”. However, she is no less fierce when it comes to identifying and securing a good deal. Greiner is the most active Shark, investing in approximately 20% of all pitches heard, and has a 90% success rate on new items launched. Here are some of Lori Greiner’s greatest investments on ABC’s Shark Tank:
Full disclosure: all opinions presented on this page of our own and should not substitute medical advice. We may receive a small commission for purchases made through these links.
Mentioned already on this site, Scrub Daddy must again be discussed as it is, without a doubt, one of Lori Greiner’s best investments to come out of Shark Tank. In fact, Scrub Daddy is one of the greatest Shark Tank success stories in general.
A clever sponge for cleaning cooking utensils, Greiner made a deal with founder Aaron Krause during Season 4, investing $200,000 in exchange for a 20% stake of the business. To date, Scrub Daddy has brought in roughly $141 million retail sales. Greiner herself sold over 2 million sponges in one day on QVC, proving once again why she deserves the title “QVC Queen”.
The Sleep Styler
In mid-2017, during Season 8 of Shark Tank, entrepreneur and self-taught inventor Tara Brown presented her idea for The Sleep Styler. The Sleep Styler is a hair care product which allows the user to go to bed with wet hair and wake with perfectly styled curls in the morning.
Within a record 20 minutes of entering the Shark Tank, Brown and Greiner had struck a deal – $75,000 investment for a 25% stake in the business. Greiner saw a great marketable opportunity, saying “I felt this would be a perfect infomercial product and that I could shoot a test for a two-minute spot quickly and, if successful, I could take a lot of the work off Tara’s hands.” This is exactly what happened. After getting on board with Greiner, The Sleep Styler made $100 million in retail sales in 6 months.
Very simply, the patented Drop Stop prevents items such as coins or keys falling into the dreaded “carmuda triangle”, the area beside your seat where items are prone to fall and impossible to recover.
In Season 4, Greiner struck a deal with the company’s founders, Marc Newburger & Jeffrey Simon, for a $300,000 investment, in exchange for a 20% equity stake. Greiner’s magic touch struck again and, since appearing on the show, Drop Stop has gone on to make a whopping $25 million in sales.
CordaRoy’s Convertible Beanbags
CordaRoy’s Convertible Beanbags were presented to the Sharks in Season 4 by Byron Young. This really clever product had Lori Greiner’s name stamped all over it, and is one of those items that you can’t believe nobody thought of before. These comfortable beanbag chairs convert into a full-sized bed and are a perfect addition to the home.
For a 58% equity stake, Greiner made a deal to invest $200,000 in the company. On its first appearance on QVC, CordaRoy’s Convertible Beanbags sold out. They have continued to sell incredibly successfully, and have gone on to make over $4.2 million in sales in four years.
Stanford engineering graduates Alice Brooks and Bettina Chen had a mission to empower young girls and promote technical and engineering skills in a fun way. They developed Roominate, and took their line of toys to the Shark Tank during Season 6.
Lori Greiner, along with Mark Cuban, offered to invest in this wonderful product, as both felt it was so much more than just a range of toys. The purpose of helping young girls develop a love for math, science, engineering, and technology would encourage them to gain access to currently quite male-dominated fields. Both Sharks happily offered the requested $500,000 investment for a mere 5% equity. Roominate went on to make over $4.5 million in sales and continues its mission of bringing science and engineer toys to girls.
Stephen Hersh brought the idea for foldable luggage to the Sharks in Season 6 when he was looking for a $500,000 investment for 33% equity in his company. His business, Biaggi, was struggling under debts and Hersh was in the process of selling it when he appeared on the show in 2014.
Whilst the business was not in the best of health, the product, however, was sound. Both Lori Greiner and Daymond John made an offer. Upon consideration though, John backed out, admitting to the entrepreneur that Greiner would be a better fit for his company. He was right. Greiner held their first sale on QVC after the airing of the Shark Tank episode, selling 6,000 bags in eight minutes. Hersh has said that they continue to sell approximately $20,000 worth of bags per minute on each of their monthly QVC appearances.
In a modern world, where living space is limited, Jared Aller and Beau Oyler took their innovative idea to the Sharks in Season 4. Urbio were magnetic modular-style wall compartments, for urban gardening and small space organization. They were stylish and reasonably priced, and were exactly the type of clever and inventive product that Lori Greiner loved.
After a heated battle amongst the Sharks, the entrepreneurial couple decided to make a deal with Greiner, knowing that her QVC connection would be an ideal outlet for their product. They accepted a $300,000 investment for 15% equity in the company. Since then, Urbio is stocked in many large retail chains across the US, features regularly on QVC selling thousands of units each time, and have widely expanded their product range.
The range of cleaning products made by Better Life are eco-friendly, child and pet safe, and are just as effective as the more harsh cleaning chemicals available on the market. During Season 5, Kevin Tibbs and Tim Barklage brought their product line to Shark Tank and impressed all five Sharks.
In another example where Greiner was specifically chosen by the entrepreneurs, all five Sharks made an offer to the entrepreneurial duo. They accepted Greiner’s offer of a $400,000 investment for a 17% stake. This would drop to 7% once the investment was repaid.
With Greiner’s help, Better Life products have since made it onto the shelves of Target and Walgreens, are available in Whole Foods, Crate and Barrel, Bristol Markets, and have a wide selection of products for sale on Amazon. Better Life have also recently invested in sustainable energy sources for their manufacturing process, by installing solar panels on their plant in St. Louis.
Another cleaning innovation, this device uses a UV-C lamp to clean your phone whilst charging it simultaneously. It kills 99.99% of bacteria and will fully disinfect your phone within 5 minutes. Founders Dan Barnes and Wesley LaPorte successfully pitched their product in Season 6, which led to a deal with Lori Greiner for 10% of their company in return for a $300,000 investment.
PhoneSoap was immediately popular after its appearance on the show. Quickly, the company partnered with QVC, selling 100,000 units in the year after their Shark Tank episode aired, with annual sales continually growing. They have also since closed a deal to stock their product in Bed, Bath & Beyond. With Greiner’s help, this company’s successes are set to continue.
Self-made billionaire and Dallas Mavericks owner Mark Cuban is an incredibly active investor on ABC’s Shark Tank. His fierce, go-getter attitude means that once he has his sights set on something, he will fight to get it. Investing in approximately 19% of all companies pitched to him, Cuban has also been responsible for some of the largest deals in Shark Tank history. His shrewd business acumen has turned many of those investments into Shark Tank success stories. Here are just a few of them:
Ten Thirty One Productions
Ten Thirty One Productions made Shark Tank history when they appeared on Season 5 of the show. The company, founded by Melissa Carbone, produces live horror experiences, such as the Los Angeles Haunted Hayride. Cuban saw the potential in the business model, and its adaptability to other markets, and offered a record-breaking $2 million investment deal for a 20% stake in the business.
Since the show, Ten Thirty One Productions, now employing over 500 people, have expanded their shows and host events in cities across the United States. By 2014 the company hit their goal of reaching $3 million in gross revenue. Mark Cuban has since gone on to say that his deal with Ten Thirty One Productions was the most profitable one he ever made on Shark Tank.
Rugged Maniac Obstacle Race
Season 5 proved to be a season of huge investment deals. This trend continued when Rob Dickens and Brad Scudder brought their idea for an extreme 5K obstacle course to the Sharks, named the Rugged Maniac Obstacle Race. After a successful pitch, Mark Cuban offered a staggering $1.75 million investment deal in exchange for 25% of the company, making it the second largest investment on the show.
Cuban’s investment has allowed the pair to take their Rugged Maniac Obstacle Race to 28 cities across the US, reaching sales of $10.5 million in one year. By mid-2017, the company had moved into its permanent HQ and said growth has been explosive since Shark Tank.
The Red Dress Boutique
Mark Cuban’s fifth most expensive investment on Shark Tank came in Season 6 when Diana and Josh Harbour presented The Red Dress Boutique. Their company not only sold clothing and accessories online, they offered complete outfits through a successful Instagram feed and social media presence. When they appeared on the show, their company was already a profitable venture, on track to make over $12 million in annual revenue.
This was an opportunity too good to miss for Cuban. Initially, he teamed up with fellow Shark Robert Herjavec to invest $1.2 million for a 20% stake in the business. Since the show, Cuban went on to finalize a deal alone for a $600,000 investment and a 15% equity stake in return. Within 5 days of the episode airing, The Red Dress Boutique made $1 million in sales. They have featured several times on Beyond the Tank to detail the companies continued successes as they invest a lot of profits back into marketing and development.
This quirky product featured on Shark Tank in 2014, when three entrepreneurs, Justin Fenchel, Brad Schultz and Aimy Steadman, presented their idea for a “party in a box”. BeatBox Beverages make unusual but tasty flavors of wine served up in neon packaging styled like an old-school “beat box”.
The trio requested an investment of $200,000 for a 10% stake in the business. However, the Sharks, all loving the brand, hotly began outbidding each other. The winner was Mark Cuban, who agreed upon a staggering $1 million investment deal for 33% of the company.
Sales have soared since their appearance on the show. They used the Shark investment and expertise to expand their distribution and launch a single-serving option, the BeatBox MixTape. Sales have increased to over $2 million and the company is looking into developing global brand recognition.
Tower Paddle Boards
In 2012, Stephan Aarstol nearly blew his big opportunity when he appeared on Season 3 of Shark Tank. When his presentation slides suffered some technical issues, Aarstol not only stammered and stumbled, he went on to remain silent for a full minute in a frozen panic. Barbara Corcoran said it was the worst presented pitch she had ever seen on the show.
Luckily for Aarstol, Mark Cuban saw an opportunity in Tower Paddle Boards, an SEO-driven eCommerce business selling stand-up paddle boards and accessories. Cuban struck a deal with the nervous entrepreneur for a $150,000 investment in return for a 30% stake. Within 120 days of receiving their investment, Tower Paddle Boards paid Cuban his first dividend check for $50,000. The company has gone on to make over $10 million in annual revenue.
When Slyde Handboards appeared on Season 7 of Shark Tank, co-founder Angela and Steve Watts had no idea they would become forerunners in pioneering new ways to bodysurf. After their pitch, several Sharks were put off by the low sales numbers the couple reported, after having invested their life savings in the project.
However, Mark Cuban recalled his successes with Tower Paddle Boards and teamed up with guest Shark Ashton Kutcher to make a deal to invest $200,000 for 22% equity. Since their episode aired in 2015, Slyde Handboards have developed a product line of handboards, and are growing in popularity and gaining market dominance. In 2016, Watts told Business Insider that the Sharks are a continued source of mentoring. “Ashton and his team are social media wizards…and Mark and his team have brought a level of business knowledge to our team that any Fortune 500 company would kill for.
After getting a perfect score on his SATs, Shaan Patel couldn’t believe the opportunities which were suddenly open to him, from top university admissions to hundreds of thousands of dollars worth of scholarships. He even met the President of the United States. This led him to begin PrepExpert, where he gave classes on SAT preparation, and his students all benefitted from a jump of about 300-400 points in their SAT scores.
In Season 7, Prep Expert was presented to the Sharks and Mark Cuban offered an investment of $250,000 for 20% equity in the business. Since then, PrepExpert offers online courses, in-person classes in over 10 cities across the US, and generated nearly $10 million in revenue in less than two years.
Nuts ‘N More
Peter Ferreira, Dennis Iannoti and Neil Cameron developed their super healthy range of protein-enriched peanut and almond butter spreads, and presented Nuts ‘N More to the Sharks during Season 4. The Sharks fell in love with the brand image. According to Robert Herjavec, “From the packaging design to their company name, they did everything right.”
Herjavec partnered with Mark Cuban and Nuts ‘N More received a $250,000 investment for 35% of the company. The company went on to make over $1 million in revenue the year their Shark Tank episode aired, which climbed to over $5 million the following year.
Barbara Corcoran actively preaches the importance of having the courage to go after your goals, and of not being fearful of failure. Believe it or not, Corcoran was initially rejected by ABC producers when they were deciding upon the coveted investor spots for Shark Tank. However, rather than simply move on to something else, Corcoran says she “sat down and wrote the best email of [her] life”. This immediately changed the minds of the show’s producers and, subsequently, Corcoran has gone on to have incredible successes as an investor on the show, investing in about 16% of the pitches she’s heard. Here are some of her best investments on Shark Tank:
Full disclosure: all opinions presented on this page of our own and should not substitute medical advice. We may receive a small commission for purchases made through these links.
Grace and Lace
In 2013, during Season 5 of Shark Tank, husband and wife team Melissa and Rick Hinnant presented Grace and Lace, and their gorgeous frilly leg warmers. Barbara Corcoran loved the fashion company and offered a $175,000 investment for 10% of the business.
Grace and Lace made $1 million in sales within five days of appearing on the show. And after a feature in Cosmopolitan magazine, Grace and Lace made approx $6.5 million in 2015. This grew to over $15 million by the end of 2016.
The couples have gone on to use their profits to open two Indian orphanages, which house 100 children. Rick has fondly said about Corcoran “We don’t feel like she’s an investor. We feel like she’s part of the family.”
Pork Barrel BBQ
Senate Hill staffers Brett Thompson and Heath Hall began their business, Pork Barrel BBQ, when they ordered bland take away food while working late and found themselves craving barbeque ribs like “back home” in Missouri. They subsequently developed their range of BBQ sauces, dips, and rubbing herbs and spices, of which Barbara Corcoran took a 50% stake for a $50,000 investment, back in Season 1.
Since appearing on Shark Tank in 2009, Pork Barrel BBQ has grown successfully. They went on to make $4.1 million in revenue in the year after airing, and by mid-2015 had generated over $10 million in sales.
Cousins Maine Lobster
Cousins Sabin Lomac and Jim Tselikis appeared before the Sharks during Season 4 of the show. Their business was a high-end food truck, which served fresh lobster in a variety of styles. Like the cousins, Corcoran saw the gap in the market and made a deal them, investing $55,000 in exchange for 15% of their company.
Since their appearance on Shark Tank, the company has grown quickly, bringing in over $8 million in revenue in 2014. Today they have around 20 food trucks, a restaurant in West Hollywood, California, and an online distribution which serves the entire United States.
Daisy Cakes is an online bakery set up by Kim Nelson in 2009. In 2011, she took the idea to the Shark Tank. A skilled baker, Nelson’s cakes were a hit and received a $50,000 investment from Barbara Corcoran for 25% equity in the business.
Daisy Cakes exploded in popularity after appearing on Season 2 of the show. However, as each cake is made by hand, with love, by Nelson there is only so much one person can do. So she is now also considering franchise options for her business. Incredibly though, by the end of 2015, the company had brought in over $1.1 million in revenue, which had grown to $5 million by mid-2017.
The company Pipcorn, offering gourmet mini-popcorn packs, was the brainchild of siblings Jennifer and Jeff Martin from Brooklyn, New York. Featuring flavors such as truffle or organic butter ghee, Pipcorn delighted the Sharks in Season 6, especially Barbara Corcoran. The Shark made a deal with the duo, handing over a $200,000 investment for 10% of the business. In the year since their 2014 Shark Tank appearance, they had generated $2.4 million in revenue, which totaled over $3 million by the end of 2015.
Already discussed on this site, Buggybeds was a product which received investment from all five Sharks present. The product is an early detection and prevention system for bed bugs. For a five way split of a $250,000 investment for 25% equity, the company went on to have sales of over $1.2 million in the year after the Shark Tank pitch.
Ava the Elephant
Ava the Elephant appeared on the very first episode of Shark Tank back in 2009. The idea was beautifully innovative. Invented by Tiffany Krumins, Ava the Elephant is a cute, talking medicine dispenser for babies and small children. For $50,000, Corcoran invested in the company, in return receiving a 50% stake.
In the year since the Season 1 episode aired, the brand made $1 million in revenue and has developed a range of innovative tools that administer medication to little ones, and are now even available in hospitals across the US.
Kevin O’Leary may only invest in approximately 8% of the pitches he’s heard, the lowest of all the Sharks, but he often holds out for just the right opportunity to come his way. When he does invest, the self-made multi-millionaire and entrepreneur brings success to the table. Here are some of the most successful investments made by Kevin O’Leary on Shark Tank:
Full disclosure: all opinions presented on this page of our own and should not substitute medical advice. We may receive a small commission for purchases made through these links.
In what was the largest Shark Tank investment to date, Zipz successfully pitched their idea for single serving wines in recyclable, glass-like stemware to Kevin O’Leary. Zipz glass is a patented design, engineered in a certain way to allow for a longer shelf life. O’Leary saw great potential, not only in the direct market, but also within the hospitality industry. In an incredible move, he agreed to give the $2.5 million investment that founder Andrew McMurray was requesting. This acquired O’Leary a mere 10% stake in the business.
Since the show, Zipz has grown exponentially. Their product development has continued, having recently patented CleanWrapTM technology, and they have interests in setting up bottling in Europe and Latin America. Within 16 months of the Season 6 episode, Zipz landed a major licensing deal with Fetzer Vineyards who stock six Major League Baseball stadiums.
Wicked Good Cupcakes
Tracey Noonan and Dani Vilagie were the mother-daughter team that took Wicked Good Cupcakes to the Shark Tank in Season 4. The pair were requesting a $75,000 investment for a 20% equity stake in the company. What started as a way to spend quality time together, their cake decorating skill was turned into a business when they started Wicked Good Cupcakes, single decorated cupcakes in a glass jar.
Kevin O’Leary liked what he saw and offered the investment money. However, he did not ask for a share of the business in return. Instead, O’Leary negotiated a $1 royalty on every item sold until he made his investment back, which he did within 74 days of the show, and a $0.45 royalty thereafter.
Wicked Good Cupcakes have sold over $14 million worth of tasty treats since their appearance on Shark Tank. By the end of 2017, they were in negotiations with Universal Parks & Resorts and The Walt Disney Co. to sell the cupcakes in their resorts, cruise ships, and theme parks. Noonan has her sights set on her first personal milestone, Wicked Good Cupcakes making $25 million in sales in a year.
In Season 5, husband-and-wife team Julie and Brian Whiteman pitched their idea for GrooveBook to the Sharks. GrooveBook, founded in 2012, is a smart mobile app which allows subscribers to upload hundreds of their smartphone photos and receive a physical “photobook” in the mail each month. The couple confidently pitched GrooveBook, which amazingly only cost $2.99 per month.
The idea was very positively received by the Sharks. Several Sharks made offers. However, it was powerful duo Kevin O’Leary and Mark Cuban that the couple chose to make a deal with. O’Leary and Cuban gave a $150,000 investment in return for a whopping 80% of the licensing rights. In 2014, GrooveBook was bought by Shutterfly for $14.5 million.
Since the beginning of Shark Tank, technology tycoon Robert Herjavec has been a wealth of both funding and expertise for budding entrepreneurs appearing each week. Having built his own multi-million dollar IT empire from the ground up, and now running fast-growing security software company The Herjavec Group, Robert Herjavec has a lot to offer. His rate of ‘investment per pitch heard’ is on the lower end of the scale when compared to some of the other Sharks, averaging at about 11%. However, when he did invest in them, Herjavec led many entrepreneurs to business success.
Here are some of Robert Herjavec’s biggest and most successful investments:
Designer Anton Willis took his origami inspired kayaks to the Shark Tank in Season 5 and immediately caught the attention of Robert Herjavec. Made from space-age materials, Oru Kayaks are lightweight, foldable kayaks weighing less than 26 pounds. The idea was formed when outdoor enthusiast Willis moved to San Francisco and found that his new apartment was too small for his kayak. The idea was solid, the design was inspired, and the market potential was clear to Herjavec. The technology mogul managed to acquire 25% of the business, up from the originally offered 12%, for a $500,000 investment.
Oru Kayaks now sell globally and have expanded their collection to include several different styles of folding kayaks. The company has since established a permanent manufacturing facility and is growing at a rapid rate. They have even since been featured on The Price is Right. Oru Kayaks happily say that now their main challenge, since appearing on the show, has been keeping up with demand.
Happy Feet has been around since 1996, a family run business owned by Pat Yates. The company makes super-plush, comfortable slippers in a variety of fun styles including licensed collegiate NCAA, NBA and NFL styles, as well as quirky animal prints.
In 2010, Nicole “Snooki” Polizzi wore pink and white Happy Feet slippers on MTV’s Jersey Shore and popularized the brand. So in 2014, when Yates appeared on Shark Tank during Season 5, Happy Feet was a perfect example of a small, but already successful, business which simply needed a cash infusion to enable growth.
Robert Herjavec initially said “I’m out!” to the idea, but as the pitch continued he did something unusual and changed his mind. Herjavec offered that much needed cash infusion in the form of a $375,000 investment. For this, he negotiated a 25% share of the company.
Since then, the Happy Feet brand has continued to grow and expand and is fast becoming recognizable worldwide. Since Shark Tank, the slippers have had numerous television appearances, including Late Night with Jimmy Fallon, The Late Show with David Letterman , The Tonight Show, Good Morning America and The Today Show. In 2015, they secured a licensing deal with DreamWorks Animation and currently produce a wide range of slippers featuring famous characters from movies like Shrek, Madagascar and Kung Fu Panda.
Hamboards grew out of a small family-run business which started in a garage in southern California. Surf-loving Pete Hamborg, his wife Kathy, and their five lifeguard sons, came up with a “street-ready skateboard that captures the essence of surfing”. Hamboards are surf-styled skateboards with a handcrafted surfboard look and feel.
Herjavec was immediately interested. He listened enthusiastically to the family’s presentation and leapt at the opportunity to give the Hamboard a try. Wowed by the variety of styles and designs already on offer by Hamboards, Herjavec offered three times more than the requested $100,000 investment. However, he also came away with 30% equity, double what the family offered in their pitch.
Hamboards were already selling quite well in advance of appearing on Shark Tank. It was the expertise of a Shark, to help run their business more successfully, that the Hamborg family truly needed. With Herjavec’s investment, Hamboards have now expanded globally and are making over $1 million a year in revenue.
Revolights, wheel mounted battery powered LED lights for a bicycle, were pitched to the Sharks by Kent Frankovic in Season 5. The clever idea sees the rear wheel act as a rear light whilst the front wheel of the bike, acting as the headlight, provides illumination with 360-degree visibility.
All of the Sharks were initially interested in the invention and Frankovic comprehensively survived in-depth questioning on the sales numbers and projections. But it was the discussion of the technology itself, and the two patents held on it, that swayed Herjavec, who offered a $300,000 investment for 10% of the business. Whilst, Mark Cuban and Daymond John also made offers, Frankovic made the deal with Herjavec saying it was specifically the Sharks’ expertise and marketing he needed, and this is Herjavec’s realm. Revolights now sell internationally and the company continues to grow successfully each year.
Designed as an environmentally-friendly peat moss alternative, PittMoss was pitched to the Sharks by Mont Handley during Season 6. Handley spent 20 years researching, testing and developing his soil substitute, made from 100% renewable sources such as recycled paper. This wonderful creation is ideal grow matter that eliminates the need to use chemical fertilizers, as well as controls the growth of insects, molds and weed seeds.
During the pitch, it emerged that PittMoss had yet to make any revenue from sales. Handley assured the Sharks that he just needed the investment capital to fulfill advanced orders in his newly completed manufacturing facility. This was off-putting to many of the Sharks, but Robert Herjavec saw the potential and wanted in on this excellent product.
Herjavec encouraged fellow Sharks Mark Cuban and Kevin O’Leary to join him in the deal. Together they offered a sizeable $600,000 investment in return for a 35% equity stake in the business, up from the 25% Handley originally offered.
With the Shark’s investment, PittMoss went from producing 1 ton per day to 1 ton per hour. They have also successfully shifted their business model from selling to growers and nurseries to selling online directly to consumers.
Special Mention: SynDaver Labs
A special mention must go to SynDaver Labs. The product appeared on Shark Tank in Season 6 and became one of the largest investment deals Herjavec made on the show.
A product designed for use in medical training, creator Christopher Sakezles pitched SynDaver Labs to the Sharks in Season 6. Asking for a $3 million investment for a 10% equity stake, Sakezles, who has a doctorate in polymer science, wowed the Sharks with his realistic looking synthetic body parts which would replace using cadavers in medical training. Herjavec made a deal with Sakezles, investing the full $3 million for a 25% stake in the company.
However, after the episode aired, the deal fell through when Sakezles learned that the investment would require him to step down as CEO of SynDaver Labs. Even without the Shark investment, they continue to operate successfully today and SynDaver products are even available for sale on Amazon.
Daymond John earned his pin-stripes, and the right to be called one of the most successful self-made multi-millionaires ever, by starting FUBU in his mother’s basement in Queens and going on to create one of the most recognizable clothing brands in the world, worth about $6 billion. Over the years on Shark Tank, John has impressed viewers with his business expertise and made some incredibly profitable investments. Investing in approximately 15% of the pitches he’s heard, here are a few Daymond John’s best Shark Tank investments:
Bombas, founded in 2013, was exactly the type of company Daymond John would invest in. One may presume it was because Bombas was a sock manufacturer and would appeal to John’s fashion industry loving side. However, John has been widely known to speak of the importance of a positive social impact when running a company. Therefore, it was the Bombas moral conscience as a company that enticed Shark Daymond John when it was featured in Season 6 of Shark Tank. For every pair of Bombas socks purchased, the company would donate a pair of socks to a homeless shelter in the United States. Because of this, John was sold on the idea.
For a $200,000 investment in the business, John attained a 17.5% stake. From that moment, the brand of Bombas exploded. In a wonderful balancing of our combined moral conscience, Bombas had made approximately $12 million in sales in the first nine months since appearing on the show. Bombas is now estimated to be worth more than $50 million.
Sun-Staches were a quirky and novel idea. David Levich, Eric Liberman, and Dan Gershon took their seemingly silly concept for novelty sunglasses with attached decorations, such as a dangling moustache, to the Sharks in Season 6. Shark Daymond John saw past the oddity of the idea and offered $300,000 for 20% equity in Sun-Staches.
They launched with a bang. Within four months, the company had made more than $4.1 million worth of sales. Towards end of 2017, they were estimated to have made over $20 million in sales. According to a recent Shark Tank update, Sun-Staches has landed a licensing deal with Marvel to make character-themed sunglasses.
When Brian Lim appeared on Shark Tank in Season 6 to pitch EmazingLights, the Sharks grilled him on why he deserved a $650,000 investment for only 5% of the business. The Sharks saw great potential in Lim’s EmazingLights, a set of light-up LED gloves, for use at festivals and raves.
Four Sharks began negotiations with Lim for a stake in EmazingLights. Lori Greiner, Robert Herjavec, Mark Cuban and Daymond John had all made impressive offers. However, Lim said it was not about the money but the value of the Shark’s know-how. With that in mind, Lim chose to do the deal with Daymond John. In 2016, EmazingLights made an incredible $17 million in sales.
With grudging consent, former NFL star Al “Bubba” Baker allowed his daughter to fill out his Shark Tank application. In Season 5, Bubba’s Q Boneless Baby Back Ribs were pitched to the Sharks and this “mom and pop” business became one of the greatest Shark Tank success stories.
For a $300,000 investment, Daymond John acquired a 30% equity stake in the business. Until this point, Bubba’s Q was making about $154,000 in annual sales. Since joining forces with John, the company’s sales had risen to $16 million by 2017.
In Season 4, another business was able to benefit from Daymond John’s desire to reward companies with a positive social impact. Mission Belt, which manufactured ratchet belts that operate with a release lever and not holes, committed to putting $1 from every sale into a fund which would provide small-business loans in more than 80 developing countries.
John loved the idea and offered a $50,000 investment for a 37.5% share of the company. Since appearing on Shark Tank, Mission Belts has gone on to make over $8.2 million in sales, which has led to more than $1.5 million in funds being lent to small business borrowers.
The most expensive retail product to ever appear on the show, the virtual pinball machines made by VPcabs cost as much as $9,000 each. When pitched by founder Brad Baker on Season 7 of Shark Tank, VPcabs withstood the Shark’s scrutiny.
Daymond John offered $200,000 investment for a 25% share of the company, which until now had made just under $400,000 in sales. Now, with John’s investment and guidance, profits in VPcabs have jumped to over $1 million.
Special Mention: Mo’s Bows
In Season 5, Moziah Bridges presented his idea for Mo’s Bows, which produced handmade bowties, to the Shark Tank. The business was founded by Bridges when he was nine years old, and now, at the ripe old age of 11, he was offering the Sharks 20% of his company for a £50,000 investment.
Bridges impressed the set of tycoons. However, in an unusual turn of events, Daymond John spoke up telling the young entrepreneur not to make any deals with the Sharks that day. He instead said that he would mentor young Bridges for free. He referenced a time in 1989 when he declined an offer of $10,000 for a 40% stake in FUBU. With John’s mentoring, Mo’s Bows has since entered a profitable licensing partnership with the NBA.