Here’s What Happened After Shark Tank
Shark Tank, the hit television show, has become a platform for aspiring entrepreneurs to showcase their products and ideas to a panel of wealthy investors. Over the years, many entrepreneurs have walked into the Shark Tank with dreams of striking a deal with the sharks, but not all of them have found success. In this article, we will take a look at what happened to some of the entrepreneurs after appearing on the show.
1. Scrub Daddy
One of the most successful products to come out of Shark Tank is Scrub Daddy. The smiling sponge that changed the cleaning game was pitched by Aaron Krause in 2012. His unique product caught the attention of the sharks, and Lori Greiner invested $200,000 for a 20% stake in the company. Since then, Scrub Daddy has become a household name, amassing over $170 million in sales and becoming the most successful product in Shark Tank history.
2. Groovebook
Another successful venture is Groovebook, a subscription service that allows users to print and receive photo books of their smartphone pictures. The founders, Brian and Julie Whiteman, pitched their idea on Shark Tank in 2014 and secured a deal with Mark Cuban. After their appearance on the show, Groovebook experienced explosive growth, with their subscriber base increasing from 18,000 to over 500,000 within a few days. In 2014, just six months after their appearance on Shark Tank, Groovebook was acquired by Shutterfly for $14.5 million.
3. Wicked Good Cupcakes
Wicked Good Cupcakes, a mother-daughter business specializing in cupcakes in a jar, entered the Shark Tank in 2013. After an impressive pitch, Kevin O’Leary and Mark Cuban made a deal with Tracey and Dani Vilamaire, investing $75,000 for a 25% stake in the company. The exposure from Shark Tank led to a spike in online orders and a significant expansion of their business. Today, Wicked Good Cupcakes has a thriving online presence and also operates several retail locations across the United States.
4. Doorbot (Now known as Ring)
One of the most remarkable success stories from Shark Tank is Doorbot, a video doorbell company that later rebranded as Ring. The founder, Jamie Siminoff, pitched his innovative product to the sharks in 2013 but failed to secure a deal. However, this setback didn’t deter Siminoff from pursuing his vision. He continued to work on his product and eventually turned it into a massive success. In 2018, Amazon acquired Ring for a reported $1 billion, making Siminoff a billionaire and proving that sometimes a rejection from the sharks doesn’t mean the end of the road.
5. Tipsy Elves
Tipsy Elves, an apparel company specializing in ugly Christmas sweaters, appeared on Shark Tank in 2013. Despite criticism from some of the sharks, Robert Herjavec saw the potential and invested $100,000 for a 10% stake in the business. The exposure from the show fueled rapid growth for Tipsy Elves, with their revenue skyrocketing from $600,000 to over $8 million in just a few years. Today, Tipsy Elves is a thriving brand, offering a wide range of novelty clothing for various occasions.
6. The Bouqs Company
The Bouqs Company, an online flower delivery service, also found success after their appearance on Shark Tank. The founders, John Tabis and Juan Pablo Montufar, presented their business in 2014 and secured a deal with Robert Herjavec and Kevin O’Leary. The exposure from Shark Tank helped them expand their customer base, and they later went on to secure additional investments. Today, The Bouqs Company is a multimillion-dollar business, providing sustainably sourced flowers to customers around the world.
Conclusion
Appearing on Shark Tank can be a game-changer for entrepreneurs, providing them with a platform to showcase their products and gain valuable exposure. While not all entrepreneurs find success after their appearance, those who do often experience exponential growth and a significant boost in sales. The success stories of Scrub Daddy, Groovebook, Wicked Good Cupcakes, Doorbot/Ring, Tipsy Elves, and The Bouqs Company demonstrate the impact that can come from a moment in the spotlight. These entrepreneurs have shown that with determination, resilience, and a little help from the sharks, dreams can be turned into reality.
*Source www.foodrepublic.com
