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The Most Memorable And Surprising Deals Made On Shark Tank
Shark Tank has become a cultural phenomenon, and millions have gathered on their couches to watch small business owners try to pitch ideas they view as revolutionary. But the sharks, aka the famous investors they present in front of, may not always agree. Every service has its cost.
However, whether the sharks are ecstatic about an idea or willing to negotiate, we as viewers are on the edges of our seat just to see how lucrative and advantageous they can be, and how the business owners respond. Some Shark Tank moments are unforgettable, and we’ve compiled the greatest moments from the show right here.
Rock Bottom
In 2014, Robbie Cabral had just hit rock bottom in his life. “I was working my normal job and, sadly, I got laid off,” he said. “The same day I got laid off, my daughter was born.” With the desperation of a father and husband that needed to provide for his family, Cabral knew that he would need to do something quickly, but what?
The Perfect Invention
The simple yet life-changing answer struck him when he was at the gym. He asked himself, “How come there is not just a lock that you can open with a fingerprint, but also with a traditional key?” Just like that, a product was invented and Benjilock was born…
Landing Investors
After receiving numerous praises on his invention at the Consumer Electronics Show, he took it to the big leagues and made a pitch on ABC’s Shark Tank. An ecstatic Cabral landed a $200,000 investment from Kevin O’Leary in exchange for 15 percent equity in the company. It didn’t stop there though…
Selling the Business
Kim Kelley, the CEO of Hampton Products International, saw the product on Shark Tank and knew that he had to get in on the deal. With a company that specializes in hardware and security, it was the perfect product to back. Today, they own full rights to Benjilock in North America, but where does that leave Cabral?
Tears of Joy
Upon receiving a $100,000 check from Kim Kelley himself, Cabral broke down in tears as the full scope of what he had accomplished hit him. Through his tears he said, “It is basically the American dream for me. Hopefully, now I can actually provide for my family and bring jobs too — that is the goal for me. I’m extremely happy.” Cabral isn’t the only happy Shark Tank contestant though…
Saving Their Son
Parents Scott and Megan Reamer weren’t looking to revolutionize the health food industry when they created their first ever batch of all-natural, coconut oil-cooked potato and tortilla chips. The only goal they had in mind was to help their son, Jackson, who suffered from an incurable autoimmune disease. However, their journey wasn’t an easy one…
Life-Changing Alterations
Born a healthy baby in 2001, it wasn’t until age 2 that Jackson slowly began to show signs of his disease. Despite taking him to every specialist in the country, Jackson wasn’t diagnosed with Aicardi–Goutières syndrome until 2015. Those in between years were difficult for the family as they struggled to find the source of his ailment. The only thing they knew was that through food, they were able to drastically lessen some of his symptoms. Only time would tell if it would be enough…
Perfecting the Product
They started creating an anti-inflammatory, ketogenic diet with high fats and low carbs not only for Jackson, but the entire family. That included replacing processed oils with natural, saturated oils. As they perfected their chips, both friends and family members suggested packaging and selling them. After giving it serious consideration, Scott and Megan decided to go for it, and they haven’t regretted it since…
Doubting Themselves
In 2012, they launched Jackson’s Honest and by 2014 the company had hit $1 million in sales. They were given the opportunity to go on Shark Tank in August of last year, but Jackson tragically passed away right after they filmed part of their appearance. The Reamers were devastated. Could they continue without him?
Never Give Up
When guest shark Rohan Oza made the decision to invest for a 15 percent stake in the company making it worth over $8 million, Scott and Megan knew that they were meant to continue on with the business to honor Jackson’s legacy. Scott said that, “Jackson’s Honest the company begins and ends with Jackson Reamer.” He added that no matter what obstacles you face, “Never, ever give up.” The Reamers aren’t the only people who refused to give up and went on to create huge companies on Shark Tank…
Scrub Daddy
Appearing on season 4 of the show, this smiley face-shaped sponge was uniquely designed to turn soft in hot water and hard in cold water. Its dual-sided materials allow it to clean virtually any substance. Lori Greiner made the wise decision to invest in the product, and that simple sponge went on to make more than $50 million within three years.
Tipsy Elves
Business partners Evan Mendelsohn and Nick Morton introduced their line of tacky holiday-themed sweaters back in season five and Robert Herjavec knew he had to get in on the deal. Since then they’ve expanded into year-round clothing and greatly expanded the business. Herjavec shared, “When they came on the show, they were doing about $600K a year, that was 2 seasons ago, and we’ll do $12 million this year. It’s just one of those stories.”
Breathometer
Some things are too good to be true. When Charles Yim introduced them to a product that can check your blood alcohol content through your smartphone, Mark Cuban, Kevin O’Leary, Daymond John, Robert Herjavec, and Laurie Greiner all jumped at the opportunity. Unfortunately, the app proved to be unreliable, and was shut down by the Federal Trade Commission. Ouch…that one had to hurt.
Bubba’s-Q Boneless Ribs
When former professional American football defensive lineman Al “Bubba” Baker appeared on Shark Tank with Bubba-Q’s Boneless Ribs, he wasn’t taken too seriously at first. After a taste of his delicious ribs, they knew he meant business and Daymond John decided to bite. After signing a deal, sales went from $154,000 to $16 million and they expanded to more than 150 retail stores.
Cousins Maine Lobster
Started by two cousins and appearing on season six of Shark Tank, Cousins Maine Lobster grew from a $20,000 start into the $20 million nationwide company it is today. Thanks to an investment form Barbara Corcoran and a close partnership with her, they’re looking to keep expanding the company into every state across the U.S.
Lumio
When Max Gunawan introduced his foldable magnetic-lamp on Shark Tank in season 6, it was a huge hit. Robert Herjavec invested $350,000 for 10% of the company, Lumio, and said Gunawan was, “possibly the best entrepreneur” he had ever seen on the show. The business made $3 million its first year and has only grown since then.
Grace and Lace
Barbara Corcoran invested $175,000 for 10% of the fashion company, Grace and Lace, in season 5 of the show. According to Corcoran, it’s her most profitable Shark Tank investment. Melissa and Rick Hinnant are the husband and wife duo that founded the company, and as it grows by the millions each year, so does their global philanthropic outreach program. So far, they’ve already opened two orphanages in India that house about 50 kids each.
Ten Thirty One Productions
In season 5, Melissa Carbone presented her live, horror-entertainment company Ten Thirty One Productions. Mainly focused on a holiday that will never go out of style, how can you go wrong investing in a company like this? Mark Cuban felt the same way and invested $2 million for 20% of the company. In 2014, it brought in $3 million in revenue with at least half a million dollars in annual profit. Considering how much they’ve expanded since then, it’s grown exponentially.
Wicked Good Cupcakes
Founded in Boston, mother-daughter duo Tracey Noonan and Danielle Vilagie are the masterminds behind cupcakes in a jar. Their company, Wicked Good Cupcakes, caught the eye of Kevin O’Leary, who invested $75,000 for royalties instead of equity. Calling it his most profitable investment of the show, the business has gone from $7,000 in monthly sales to $400,000, or about $4.8 million annually.
Red Dress Boutique
Diana and Josh Harbour’s online women’s fashion retailer, The Red Dress Boutique, won over both Mark Cuban and Robert Herjavec who agreed to split a $1.2 million investment for 10% equity. Just one week after appearing on Shark Tank, the company brought in $1 million in sales. After a learning curve in trying to figure out how to keep up with demand, they started making $14 million in revenue after a few short years.
Bombas
David Heath and Randy Goldberg co-founded Bombas, an online-only athletic sock company. For every pair sold, they donate a pair of socks to a homeless shelter. Daymond John took a 17.5% stake in their company for $200,000. Just four days after their appearance on the show, they sold $400,000 in socks and ended 2014 with $2 million in sales.
Simple Sugars
At just 18 years old, Lani Lazzari landed a $100,000 deal with Mark Cuban in return for 33% equity. Her skincare company, Simple Sugars, skyrocketed from $50,000 to $220,000 less than 24 hours after the episode aired. She made $1 million just six weeks later. Cuban has said the deal was one of his most profitable investments from the show.
GrooveBook
Way back in season 3, husband and wife team Rian and Julie Whiteman introduced a digital-photo subscription service called GrooveBook. They left having made a deal with Mark Cuban and Kevin O’Leary for $150,000 in exchange for 80% of licensing profits. A few years back they sold the company to Shutterfly for $14.5 million.
Bottle Breacher
Former Navy SEAL Eli Crane and his wife and business partner Jen took their business straight to the top with the hopes of landing a deal. Fortunately, Mark Cuban and Kevin O’Leary invested $150,000 in exchange for a 20% stake in Bottle Breacher. The company employs only military veterans who turn dummy .50-caliber bullets into bottle openers. The company brings in millions each year.
ReadeRest
Rick Hopper’s season 3 appearance landed him a deal with Laurie Greiner for a $150,000 investment in exchange for 65% of the company. ReadeRest produces a magnetic clip which you attach to your shirt and hold your eyeglasses in place with. That may have seemed like a lot to sign over to someone else, but it was well worth it. The company went on to make $13 million in revenue within the next three years.
