Shark Tank first aired back in August of 2009. The OG sharks were Kevin O’Leary (my personal fav), Barbara Corcoran, Robert Herjavec, Daymond John and Kevin Harrington. Since then, other investors. such as Lori Grenier, Mark Cuban, and Chris Sacca have also joined the tank. For those who have never watched the show, Shark Tank offers aspiring entrepreneurs a chance to pitch their company or idea to the investors (‘sharks’). They have the opportunity to offer anything from equity, which is essentially ownership in a company, to perpetuity on a product. After countless hours watching pitch after pitch, today I will crown a few of my favorites.
Fan Favorite → Iconic Scrub Daddy [Season 4, Episode 7]
It would be wrong for me to not start off this list with the iconic Scrub Daddy episode. Aaron Krause pitched the smiling sponge, highlighting its unique ability to become hard in cold water and soft in hot water as well as its ability to easily wash utensils in the mouth of the face. Lori Grenier snatched up the opportunity to buy into the company at $200,000 for 20% equity. Today, the Scrub Daddy is seen as the greatest Shark Tank success in terms of revenue. The retail sales of the company are reported to have surpassed 150 million dollars and today the net worth of the company is over 250 million.
GOAT (Greatest of all time) → Doorbot (now called Ring) [Season 5, Episode 9]
It pains me to say the sharks passed up on this deal. Entrepreneur Jamie Siminoff pitched the home security company, Ring (formerly known as DoorBot), to the sharks back in 2013. And can you believe it? The sharks all passed up on the offer. Fast forward a few years and the company was acquired by Amazon for more than one billion dollars in 2018. Even more inspiring, Siminoff was the first ever entrepreneur to return to the Shark Tank on the flip side as an investor. If that doesn’t prove that people control their own destiny, then I don’t know what does.
WOAT (Worst of all time) → Throx [Season 1, Episode 8]
Despite airing all the way back in Season 1, I still vividly remember the Throx pitch. A man (who I would describe as quite peculiar) pitched his idea of selling three socks at a time, so you never have to worry about missing a sock. In my opinion, it is a high valuation for a gag gift that cannot be patented. The idea is funny as an item you grab at checkout to make someone laugh, but I don’t see it becoming a large company or something worth investing in. For the most part, the sharks agreed with my opinion and were all out within minutes.
Comedic yet useful → Shed Defender [Season 10, Episode 2]
This takes the cake for being one of the most unexpected products I could’ve ever imagined an entrepreneur walking into the tank with. Imagine onesie pajamas, but for your dog. Entrepreneurs Tyson and Miles Walters brough this idea to life as a way to bring your shedding loved ones into places like cars and friends’ houses without the worry of shedding everywhere. With the help of some really cute models, the sharks thought it was adorable and Lori Grenier negotiated a deal for $250,000 for 25%.
Most heartfelt pitch → Sanaia Apple Sauce [Season 10, Episode 2]
Entrepreneur Keisha Smith-Jeremie came into the tank pitching an adult-oriented apple sauce company. The idea was super appealing, yet risky, as she was attempting to create an overall brand new category of product. Towards the end of her air time on Shark Tank, things got a bit rocky as the sharks began to fight. The sharks usually have doubts when an entrepreneur works on their business as a ‘side hustle’ as opposed to quitting their day job and putting in their all. This was the case for Smith-Jeremie. She fully disclosed that she did still have her full-time position at a publishing company and Kevin O’Leary was not pleased. Robert Herjavek began arguing with him saying that it is not a possibility for everyone to quit their job and it is not a fair gauge of the entrepreneur’s willingness to put it all in. Smith-Jeremie began tearing up and, prompted by Lori Grenier, explained that many of her family members depended on her financially, which created a really warm and understanding moment in the tank. Just moments after she finished explaining, Mark Cuban made her a deal for $200,000 for 25%, which was 10% over what she was asking for.
Of course, these are my personal opinions and encourage other thoughts and ideas in the comments!
