Shark Tank is a famous American reality TV show that features aspiring entrepreneurs pitching their business ideas to a panel of wealthy investors called “Sharks.” It is important because it provides a platform for entrepreneurs to pitch their ideas and potentially secure funding to grow their businesses.
If you are a fan of Shark Tank, you might be curious to find out about the most successful deals in the show’s history. This article will provide you with the top 9 most successful deals in Shark Tank history. To write this article, we have gathered reliable information including, forbs.com, startupmindset.com, and sharktankproducts.com. Go through the entire article to spot the best deal.
1. Scrub Daddy
Scrub Daddy is a cleaning products company founded by Aaron Krause, who appeared on Shark Tank in 2012 to pitch his product to the sharks. The sharks were initially sceptical of the product, but after some negotiation, Lori Greiner offered 200,000 USD in exchange for a 20% equity stake in the company.
Since appearing on Shark Tank, Scrub Daddy has become a massive success, with the company reportedly earning over $170 million in revenue. The product is now available in many retail stores. And has become a household name in the cleaning industry.
2. Tipsy Elves
Tipsy Elves is a clothing company. They design and sell holiday-themed apparel, such as Christmas sweaters, Halloween costumes, and patriotic outfits. The company was founded by Evan Mendelsohn and Nick Morton, who appeared on Shark Tank in 2013.
During their pitch, Robert Herjavec and Daymond John made a joint offer to invest $100,000 in exchange for 10% equity in the company. Following their appearance on Shark Tank, Tipsy Elves experienced a massive surge in popularity. The company has since expanded its product line to include a range of other clothing items and accessories.
3. Groovebook
Groovebook is a mobile app that allows users to create personalized photo books from their smartphone photos. Brian and Julie Whiteman, who appeared on Shark Tank in 2014, are the founders of Groovebook.
During their pitch, the sharks were impressed by the idea, and Mark Cuban offered to invest $150,000 in exchange for an 80% equity stake in the company. Following their appearance on Shark Tank, Groovebook experienced a surge in popularity, with thousands of new users signing up for the app.
4. Squatty Potty
Squatty Potty is a bathroom accessory that positions users in a squatting position to improve their bowel movements. The product was founded by Bobby Edwards and his mother, Judy Edwards, who appeared on Shark Tank in 2014.
During their pitch, the shark Lori Greiner made a deal with the Edwards, offering $350,000 for a 10% equity stake in the company. Following their appearance on Shark Tank, Squatty Potty experienced a massive surge in popularity. And the company reportedly earned over $33 million in revenue in the year following the episode’s airing.
5. Bombas
Bombas is a sock company founded by David Heath and Randy Goldberg, who appeared on Shark Tank in 2014 to pitch their business idea to the sharks. The sharks were impressed with Bombas’ unique approach to the sock market, and Daymond John made a deal with the founders, offering $200,000 for a 17.5% equity stake in the company.
Following their appearance on Shark Tank, Bombas experienced a massive surge in popularity. And the company reportedly earned over $50 million in revenue in the year following the episode’s airing.
6. The comfy
The Comfy is a combination of a hoodie and a blanket that is designed to provide users with maximum comfort and warmth. It was presented on Shark Tank by two entrepreneurs, Brian and Michael Speciale.
The Sharks were impressed by the product and its potential. And two of them, Barbara Corcoran and Mark Cuban, offered to invest $50,000 for a 30% stake in the company. Since appearing on Shark Tank, The Comfy has become an enormous success, with increasing sales.
7. Simply Fit Board
The Simply Fit Board is a balance board designed to help users engage their core and improve their balance while performing various exercises.
The Simply Fit Board was presented on Shark Tank by its inventor, Linda Clark, and Gloria Hoffman. Lori Greiner offered to invest $125,000 for a 20% stake in the company. Since appearing on Shark Tank, the Simply Fit Board has become a huge success, with millions of units sold worldwide.
8. The Bouqs Company
The Bouqs Company is an online flower delivery service featured on season 5 of Shark Tank. John Tabis and Juan Pablo Montúfar founded The Bouqs company.
The Sharks were impressed with the Bouqs Company’s business model but no one invested. However, after the shark tank, in 2016 Robert Herjavec invested in The Bouqs Company. Since appearing on Shark Tank, the Bouqs Company has experienced significant growth. Also, it expanded its product line to include a variety of flower arrangements, plants, and gifts.
9. Cousins Maine Lobster
Cousins Maine Lobster is a food truck and restaurant franchise specializing in fresh Maine lobster featured on season 4 of Shark Tank by the founders Jim Tselikis and Sabin Lomac.
On Shark Tank, the cousins decided to partner with Barbara Corcoran. She invested $55,000 for a 15% stake in the company. Since appearing on Shark Tank, Cousins Maine Lobster has experienced rapid growth. And has expanded its franchise to over 30 locations across the United States.
Conclusion
Accordingly, Shark Tank has been successful in providing exposure. And funding for many startups, as well as offering valuable insights for entrepreneurs. Overall, it has been a positive force in the entrepreneurial ecosystem, providing a platform for innovative ideas to be heard and funded, inspiring the next generation of entrepreneurs.