With eight seasons and almost 200 episodes, the popular American reality TV series Shark Tank has seen a number of interesting products and businesses. The point of the show for the contestants is to convince the judges (the Sharks) to invest in their business ideas to make them profitable. Yet, despite their outstanding experience and know-how, the judges have rejected some ideas that later turned out to be very successful and have earned the rejected contestants millions of dollars. From crazy sweaters from Tipsy Elves to the dating website Coffee Meets Bagel, today’s post will show you 25 Wildly Successful Shark Tank Businesses You’ll Want To Hear About.
Created by Max Gunawan, Lumio is an original sculptural lamp that collapses, accordion style, into what looks like a hardcover book. All Sharks were impressed by the product, and they all made their offers, hoping to become part-owners of the company. However, Gunawan decided to make a deal with just one of them – Robert Herjavec, who offered $350,000 for 10% equity. The response to Lumio was overwhelming – just ten minutes after the show, the company got 3,000 orders.
Travis Perry developed Chord Buddy to teach his daughter how to play the guitar. It was so easy to learn this way that Perry knew he had a new hit product that could teach thousands how to play. All Sharks loved the product and the offers started coming in from all sides. Eventually, Perry made a deal with Herjavec for $175,000 and a 20% stake. Chord Buddy has been a great success, and one of Herjavec’s best investments.
Created by Julie and Brian Whiteman, GrooveBook is a subscription-based application that allows customers to print their smartphone photos and create a photobook. Just 11 months after making a deal with Mark Cuban and Kevin O’Leary ($150,000 in exchange for 80% licensing profits), the company announced it was acquired by Shutterfly for whooping $14.5 million.
Invented by mother-and-son duo Judy and Bobby Edwards, Squatty Potty is a stool that lifts people’s legs into the squatting position while doing their “business.” It has been scientifically proven that this position is better and more natural for us, and the Sharks seemed impressed by the Edwards’ presentation. The duo made a deal with Lori Greiner ($350,000 for 10%) who helped them make the product a bestseller.
LollaCup is a valve-free straw cup that comes with a special straw designed to suck up every last drop of liquid. The inventors of the product, married couple Mark and Hanna Lim, made a deal with Sharks Mark Cuban and Robert Herjavec for $100,000 for 40% of the business. LollaCup later turned out to be the most successful children’s product to ever come out of the show.