In one of the most unconventional pitches in Shark Tank history, the indie rock band Cab20 took the stage in Season 3, not to sell a product, but to pitch themselves as a business. Managed by Tom Callahan, Cab20 sought an investment to take their music career to the next level. While the pitch intrigued the Sharks, the idea of investing in a band was uncharted territory. What happened after their Shark Tank appearance? Let’s dive into the details.
Who Is Behind Cab20?
Cab20 was led by then-18-year-old frontman Bert Hoover. The Los Angeles-based band had built a reputation for their garage rock sound, drawing comparisons to The Black Keys and The White Stripes. Manager Tom Callahan saw potential in the band beyond just their music—he envisioned Cab20 as a brand. Callahan’s pitch to the Sharks was centered around the idea that investing in Cab20 could be similar to investing in a startup with long-term revenue from concerts, merchandise, and album sales.
The Shark Tank Pitch: A Rock & Roll Business Proposal
| Product | Indie band |
| Episode | Season 03 Episode 14 |
| Founder | Tom Callahan |
| Asked for | $200,000 for 20% equity |
| Company name | Cab20 |
| Final deal | No deal |
| Sharks | None |
| Location | USA |
When Cab20 stepped into the Shark Tank, they did something no other contestant had done before—they played live music. Callahan asked for a $200,000 investment in exchange for 20% equity in the band’s future earnings. The Sharks were intrigued but also skeptical about the viability of investing in a rock band.
- Kevin O’Leary questioned the structure of the deal, asking, “How do I get my money back?”
- Mark Cuban, a music enthusiast, was interested but concerned about the risks of the music industry.
- Daymond John, who had experience in branding and fashion, saw potential but wasn’t convinced the investment model made sense.
- Barbara Corcoran and Robert Herjavec were both hesitant about investing in a band with an uncertain financial return.
Ultimately, none of the Sharks took the bait, and Cab20 left without a deal. However, the exposure from Shark Tank gave them a platform to reach a wider audience.
RELATED: 9 MOST SUCCESSFUL BUSINESSES GOT REJECTED ON SHARK TANK
What Happened After Shark Tank? Cab20’s Post-Show Journey
Despite not securing an investment, Cab20 experienced a surge in popularity following their Shark Tank appearance. The national exposure led to increased streaming numbers and new fans discovering their music. The band continued to play gigs and release music, leveraging their Shark Tank moment as a promotional tool.
However, as time passed, Cab20 didn’t achieve mainstream success. Lead singer Bert Hoover eventually pursued a solo career, and the band quietly disbanded. Hoover still continues to make music under different projects, and his passion for rock and roll remains strong.
What Went Wrong for Cab20?
Cab20 was never officially sold, nor did they secure any major record deals post-Shark Tank. The band faced the common challenge of sustaining long-term success in an industry where viral moments don’t always translate into financial stability. Without a structured business model and a clear revenue stream, Cab20 struggled to maintain momentum.
One of the main issues that hindered their growth was the lack of a defined post-Shark Tank strategy. While their exposure provided short-term boosts in listenership, it did not lead to substantial record sales, concert bookings, or brand partnerships. Additionally, the departure of Bert Hoover from the band effectively led to its quiet dissolution.
Cab20’s Net Worth and Business Status Today
As of 2025, Cab20 is no longer an active band. While their Shark Tank appearance gave them a temporary boost, they didn’t manage to capitalize on the exposure for long-term success. Their estimated net worth is currently unknown, as the band is no longer generating significant revenue. Bert Hoover, however, remains involved in the music industry, working on various solo projects and collaborations.
Did Cab20 Miss Out on a Shark’s Investment?
Had a Shark invested, their earnings would have depended on album sales, concert revenue, and potential licensing deals. Unlike traditional businesses with tangible products or scalable models, music careers are unpredictable. While Cab20 had potential, the lack of a clear financial roadmap likely deterred the Sharks from taking a chance.
In retrospect, the investment structure proposed by Callahan was unusual for Shark Tank. The entertainment industry is notoriously volatile, and investing in a band without a clear revenue stream posed a major risk.
Conclusion
Cab20’s Shark Tank appearance was a bold and unique moment in the show’s history. While they didn’t secure a deal, the exposure helped them gain temporary momentum. Their story serves as a reminder that in the entertainment industry, talent alone isn’t enough—business acumen and strategic planning are just as crucial. Though Cab20 didn’t become the next big rock sensation, their journey on Shark Tank remains an interesting case study of how unconventional businesses can still make an impact.
Don’t miss these products from Season 03
