Here’s What Happened After Shark Tank: A Look into the Post-Tank Success Stories
Shark Tank, the hit TV show where entrepreneurs pitch their business ideas to a panel of wealthy investors, has become a cultural phenomenon. Contestants have the opportunity to secure funding and mentorship from some of the biggest names in business. But what happens after the cameras stop rolling and the deal has been made? Let’s take a closer look at some of the success stories that have emerged from the Shark Tank.
The Scrub Daddy Success Story
One of the most well-known success stories to come out of Shark Tank is that of Scrub Daddy. Aaron Krause, the inventor of a smiley-faced sponge that changes texture depending on the temperature of the water, made a deal with investor Lori Greiner. Since appearing on the show, Scrub Daddy has become a household name, with sales exceeding $100 million. The product is now available in major retailers and has expanded its line to include other cleaning products.
From Sharks to Superstars: The Ring Success Story
Another notable success story is that of Ring, the video doorbell company. Founder Jamie Siminoff appeared on Shark Tank in 2013, but failed to secure a deal. However, this setback did not deter him. He continued to improve and market his product, eventually catching the attention of Amazon. In 2018, Amazon acquired Ring for a staggering $1 billion. Siminoff’s determination and perseverance paid off, turning his product into a household staple and making him a millionaire in the process.
Changing the Travel Industry: The Airbnb Success Story
Airbnb, the online marketplace for accommodations, is now valued at over $100 billion, but its beginnings were more humble. Founders Brian Chesky, Joe Gebbia, and Nathan Blecharczyk appeared on Shark Tank in 2009, seeking an investment of $150,000 for a 10% stake in their business. The sharks turned them down, but that didn’t stop them. They went on to secure funding from other investors and started a revolution in the travel industry. Today, Airbnb is a global phenomenon, offering unique and affordable accommodations in over 220 countries.
A Delicious Success: The Tipsy Elves Story
Tipsy Elves, a company that specializes in ugly Christmas sweaters and other humorous apparel, also found success after appearing on Shark Tank. Co-founders Evan Mendelsohn and Nick Morton secured a deal with shark Robert Herjavec in 2013, and the business took off. With the exposure from the show, Tipsy Elves quickly became a go-to brand for holiday-themed clothing. The company expanded its product line to include patriotic apparel for the Fourth of July and Halloween costumes. Today, Tipsy Elves continues to thrive, with annual sales reaching millions of dollars.
A Weight Loss Success: The Simply Fit Board Story
Another success story from Shark Tank is that of the Simply Fit Board. Linda Clark and Gloria Hoffman appeared on the show with their fitness product, a balance board designed to help with weight loss and core strength. The duo made a deal with shark Lori Greiner, and since then, the Simply Fit Board has become a sensation. It is sold in major retailers and has gained a loyal customer base. The product’s success has even led to the launch of a fitness program that incorporates the board.
Reinventing the Sock Industry: The Bombas Story
Bombas, a company that specializes in comfortable and durable socks, also experienced significant growth after appearing on Shark Tank. Co-founders Randy Goldberg and David Heath made a deal with shark Fubu founder Daymond John. Their unique approach to the sock industry, coupled with their commitment to donating a pair of socks for every pair sold, resonated with consumers. Today, Bombas is a major player in the sock market, with annual sales in the tens of millions.
Conclusion
Shark Tank has undoubtedly changed the lives of many entrepreneurs, providing them with the opportunity to turn their business dreams into reality. These success stories serve as inspiration for aspiring entrepreneurs, showing that with determination, creativity, and a little bit of luck, anything is possible. The show not only provides financial backing but also exposes the contestants to a wide audience, opening doors to partnerships and untapped markets. The journey doesn’t stop at the tank; it’s only the beginning of a remarkable adventure.
*Source www.foodrepublic.com
