4 of the Biggest ‘Shark Tank’ Success Stories
On the eve of Shark Tank’s season six finale, we’ve found four of the biggest success stories from the show. From logo design to distribution, the Sharks helped these four lucky companies go to the next level.
1. Scrub Daddy
More hygienic and durable than its common competitor, Scrub Daddy sponges come lemon-scented in a smiley face shape. Shark Daymond John has said this was one of his favorite pitches ever. QVC queen Lori Greiner made a deal for $200,000 in exchange for a 20% equity stake. When this product premiered on Shark Tank, its sales had barely reached $100,000. Today more than $18 million in sales have been brought in.
For just $2.99 a month, people can have their high-resolution smartphone photos sent to them in a bound book. Sharks Mark Cuban and Kevin O’Leary made a deal to receive 80% licensing profits for a $150,000 investment. More than 50,000 subscribers joined GrooveBook after its Shark Tank episode and Shutterfly soon bought the company for $14.5 million!
“An entrepreneur must pitch a potential investor for what the company is worth as well as sell the dream on how much of a profit can be made.” Daymond John
3. Ten Thirty One Productions
Mark Cuban made the biggest deal ever in season 5 when he invested $2 million in return for a 20% stake in Ten Thirty One Productions, a live horror entertainment company. The money was used to expand the company from California and received a distribution contract with entertainment giant Live Nation.
4. Cousins Maine Lobster
Started by two cousins from Maine who moved to California, this food truck was known for its delicious lobster rolls and had only $700,000 in sales. Shark Barbara Corcoran struck a deal and gave $55,000 in exchange for a 15% stake in the business. Now the company has franchised its truck and reached over $3.5 million in sales.