ABC debuted Shark Tank in 2009, allowing entrepreneurs to pitch their companies to investors in front of millions of viewers. The show has made a bundle, but what about the entrepreneurs? What are the best Shark Tank products according to the market?
Let’s take a closer look.
Product | Investor | Current Valuation | |
---|---|---|---|
1. | Scrub Daddy Sponges | Lori Greiner | > $200 million |
2. | Sleep Styler Hair Roller | Lori Greiner | $130 million |
3. | The Ring Video Doorbell | None | > $1.2 billion |
4. | EverlyWell Home Medical Test Kits | Lori Greiner | $2.9 billion |
5. | Stasher Bags | Mark Cuban | Unknown |
6. | Simply Fit Board | Lori Greiner | Unknown |
7. | The Original Comfy Wearable Blanket | Barbara Corcoran | $150 million |
8. | Kodiak Cakes Pancake Mix | None | $160 million |
9. | The Squatty Potty | Lori Greiner | $24 million |
10. | Plated Meal Kits | Kevin O’Leary | $300 million |
11. | PhoneSoap Smartphone Sanitizer | Lori Greiner | $5 million |
12. | Kitu Super Coffee | None | $400 million |
13. | Tipsy Elves Sweater | Robert Herjavec | $125 million |
14. | Love Pop Pop-up Cards | Kevin O’Leary | $130 million |
15. | Flowers By The Bouqs | None | > $100 million |
16. | Kismet Waves Shirt | Robert Herjavec | $15 million |
17. | Rocketbook Smart Reusable Notebook | None | $40 million |
18. | Bangles By Bala | Maria Sharapova and Mark Cuban | $52 million |
19. | ReadeREST Magnetic Eyeglass Holder | Lori Greiner | $4 million |
20. | Lobster Rolls By Cousins Maine Lobster | Barbara Corcoran | $50 million |
How Shark Tank Works
Each season, businesses compete for the chance to present their plans on the show. The showrunners select 100 entrepreneurs they want to work with. These investors get to pitch their deal to investors – the “sharks” – who may (or may not) choose to invest.
Owners typically ask the sharks to pay a fixed sum for a percentage of the company’s ownership. The sharks come back with their offers, if they are interested, and owners can make a counter-offer.
Only two-thirds of the selected businesses actually get a deal with the investors, with the average deal netting over $300K. According to Forbes, most of the featured businesses never get a chance to realize their expansion plans due to investors making last-minute changes.
While these figures change from season to season, company owners still flock to the show in hopes of landing a life-changing infusion of capital.
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20 Best Shark Tank Products
After all of the competition on Shark Tank is done, though, how do the companies do? Do the products pass the final test of acceptance in the market?
Let’s look at some of the best 20 Shark Tank products:
1. Scrub Daddy Sponges
- 🏢 Company: Scrub Daddy
- 👨💼 Owner: Aaron Krause
- 📺 Appeared on Shark Tank: 2012
- 😎 Investor: Lori Greiner
- 💵 Current Valuation: Over $200 million
Aaron Krause essentially invented the Scrub Daddy sponge by accident. Looking for a way to clean machinery, he ordered a tailor-made foam from a German company, later discovering that it had a unique ability to remove even the harshest stains.
Krause’s Shark Tank presentation was well received, kicking off a bidding war among the sharks. The winner was Lori Greiner, who offered Krause $200,000 for 20% ownership of the company.
The business immediately took off, with Scrub Daddy products soon available in Wal-Mart, Home Depot, Kroger, Target, and many more. In 2014, the Scrub Daddy sponge was named the most successful Shark Tank product ever.
Today, Scrub Daddy is the third-largest manufacturer of sponges in the US and has expanded its product range with new offerings. The Company is estimated to be worth well over $200 million, with Greiner’s 20% stake – bought for $200,000, now worth over $40 million.
2. Sleep Styler Hair Roller
- 🏢 Company: Sleep Styler
- 👩💼 Owner: Tara Brown
- 📺 Appeared on Shark Tank: 2017
- 😎 Investor: Lori Greiner
- 💵 Current Valuation: $130 million
Sleep Styler’s Tara Brown made one of the quickest deals in Shark Tank history. Lori Greiner took one look at her product – rollers made of memory foam and yoga towel fabric that style hair while the user sleeps – and offered $75,000 for a 25% stake in the company.
Within two years, Sleep Styler had delivered $50 million in retail sales and was selling through dominant retailers like Amazon and Wal-Mart, firmly establishing itself as one of the best Shark Tank products.
3. The Ring Video Doorbell
- 🏢 Company: Doorbot
- 👨💼 Owner: Jamie Siminoff
- 📺 Appeared on Shark Tank: 2013
- 😎 Investor: None
- 💵 Current Valuation: Acquired by Amazon in 2018 for over $1.2 billion
One of Shark Tank’s most successful products comes from a company that walked away from the show with nothing. When Jamie Siminoff pitched his product – a wifi-enabled doorbell that lets you see and talk to whoever is on the other side of the door – on Shark Tank, only one investor made an offer, and Siminoff found it unacceptable.
Siminoff left Shark Tank with nothing, but his luck soon changed. While his appearance on the show didn’t net an investment, it did lead to an estimated $5 million in sales. In 2016, Shaquille O’Neal made an investment, and the company rebranded as Ring, subsequently raised $200 million in private capital.
Ring subsequently introduced a suite of connective home security products. The company was acquired by Amazon in 2018 for a price estimated at between $1.2 and $1.8 billion, a big step up for a company that had failed to make the grade on Shark Tank.
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4. EverlyWell Home Medical Test Kits
- 🏢 Company: EverlyWell
- 👩💼 Owner: Julia Cheek
- 📺 Appeared on Shark Tank: 2017
- 😎 Investor: Lori Greiner
- 💵 Current Valuation: $2.9 billion
Julia Cheek, the founder of Everlywell, made an appearance on Shark Tank in 2017, looking to sell a 5% stake in her company in return for $1 million. Everlywell is a manufacturer of at-home test kits for a variety of medical conditions.
The sharks balked at that deal, but one of them, Lori Greiner, offered a $1 million line of credit at 8% interest in exchange for 5% of the company, and Cheek accepted the deal.
Two years after the episode aired, Everlywell had recorded $65 million in sales and was available in over 2000 outlets, including CVS and Target. In 2020, the company raised $175 million in Series D funding from a consortium of investors, including fund management titan BlackRock.
Everlywell hit an additional windfall bonanza by selling at-home test kits for COVID-19. In 2021, Everlywell acquired PWNHealth and Home Access Health Corporation, with the combined entity valued at over $2.9 billion.
That means that Lori Greiner’s 5% stake, acquired in exchange for an interest-bearing $1 million line of credit, is now worth roughly $80 million. They call them sharks for a reason!
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5. Stasher Bags
- 🏢 Company: Stasher
- 👩💼 Owner: Kat Nouri
- 📺 Appeared on Shark Tank: 2018
- 😎 Investor: Mark Cuban
- 💵 Current Valuation: Acquired for an undisclosed sum
Stasher bags are reusable, airtight, dishwasher-safe and freezer-safe bags designed for food storage. They are made of food-grade silicone and can be microwaved, boiled, and heated up to 400°F. They can be used up to 3,000 times, appealing to consumers concerned with health and the environment.
Founder Kat Nouri packed her bags and took them to Shark Tank in 2018, asking for $400,000 in return for 5% of her company, implying a valuation of $8 million. Mark Cuban offered $400,000 for 15% equity and Nouri accepted, but the deal later fell through.
Nouri didn’t win over a shark, but she found a whale: household brands specialist acquired Stasher for an undisclosed sum in 2019.
6. Simply Fit Board
- 🏢 Company: Simply Fit
- 👩💼👩💼 Owners: Gloria Hoffman and Linda Clark
- 📺 Appeared on Shark Tank: 2015
- 😎 Investor: Lori Greiner
- 💵 Current Valuation: Unknown
Simply Fit Board is an exercise board that is supposed to build core strength and balance.
When Gloria Hoffman and Linda Clark, the inventors of the Simply Fit Board, brought their product to Shark Tank in 2015 they already had over $1 million in sales and were looking for funding to ramp up production.
The company received offers from Kevin O’Leary and Lori Greiner and accepted Greiner’s offer of $125,000 for 15% of their company. Sales took off after the episode aired, and by the end of 2016 over 1 million of the boards had been sold.
There’s no clear valuation available for the company, but purely on the basis of sales, the Simply Fit Board has to be considered one of the best Shark Tank products.
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7. The Original Comfy Wearable Blanket
- 🏢 Company: Cozy Comfort
- 👨💼👨💼 Owners: Brian and Micheal Speciale
- 📺 Appeared on Shark Tank: 2017
- 😎 Investor: Barbara Corcoran
- 💵 Current Valuation: $150 million
Brothers Brian and Micheal Speciale came to the show in 2017 to pitch a “wearable blanket” – an oversized hoodie with a fleece interior and a soft microfiber exterior. Shark Tank’s Barbara Corcoran decided to give Comfy a chance and invest in their clothing line even though they didn’t have any products produced at the time.
Corcoran gave the brothers $50K for 30% of the company. Sales promptly took off, hitting #43 million in 2019 and $65 million in 2020.
Comfy hit hard times in 2021, with supply chain issues hitting inventory and the US Customs Service increasing their bond. CEO Susan Hudson was fired and sued the company, claiming that “the Speciale Brothers and Corcoran continually gorged on the company’s profits.” Both Corcoran and Brian Speciale sold their stakes. Michael Speciale is still in charge of the company and is trying to guide it to a recovery.
Valuation estimates vary, but it’s safe to say that the company is now worth over $200 million.
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8. Kodiak Cakes Pancake Mix
- 🏢 Company: Kodiak Cakes
- 👨💼👨💼 Owners: Joel Clark and Cameron Smith
- 📺 Appeared on Shark Tank: 2013
- 😎 Investor: None
- 💵 Current Valuation: $160 million
Kodiak Cakes came to Shark Tank with a new take on a grocery staple: packaged pancake mix. In a nod to modern sensibilities, Kodiak Cakes assembled a pancake mix with whole grains and added protein.
Joel Clark had been building Kodiak Cakes up, with mixed results, since 1997. In 2013, he went to Shark Tank with new partner Cameron Smith, asking $500,000 for 10% ownership of the company. Three different sharks made offers, but they were unable to make a deal and left the show without an investment.
As with several other cases, the exposure the show brought compensated for the failure to gain an investor. Sales skyrocketed. The company diversified its product mix, found new investors, and earned $200 million in revenue in 2020. Kodiak Cakes is now valued at approximately $160 million, and the pancake mix that couldn’t land a shark is one of Shark Tank’s best products.
9. The Squatty Potty By Squatty Potty LLC ($208 million)
- 🏢 Company: Squatty Potty LLC
- 👨💼👩💼👨💼 Owners: Bill, Judy, and Bobby Edwards
- 📺 Appeared on Shark Tank: 2014
- 😎 Investor: Lori Greiner
- 💵 Current Valuation: $24 million
Squatty Potty is one of the most-sold Shark Tank products ever. It’s basically a plastic stool designed to support using the toilet in a squatting position, which is believed to relieve constipation, hemorrhoids, and other colon problems.
Squatty Potty made its debut on Shark Tank in 2014. The Edwards family came away with a deal: Lori Greiner offered them $350K for 10% ownership.
In 2021, consumer products firm Aterian acquired Squatty Potty LLC for approximately $24 million.
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10. Plated Meal Kits
- 🏢 Company: Plated
- 👨💼👨💼 Owners: Nick Taranto and John Hicks
- 📺 Appeared on Shark Tank: 2014
- 😎 Investor: Kevin O’Leary
- 💵 Current Valuation: Acquired for $300 million
Plated is a subscription meal kit service serving 80% of the continental USA. Subscribers get meal kits delivered to their door, with prepared and portioned ingredients, most locally sourced, and instructions for assembly.
The service lets customers enjoy home-cooked meals without shopping and prep time, removing time and effort from meal preparation. All you have to do is enter your zip code, get a list of meal options for your area, and order.
Mark Cuban offered $500,000 for 5.5% of the company, and owners Nick Taranto and John Hicks accepted. The deal fell through, but shark Kevin O’Leary subsequently invested. Plated was acquired by Albertson’s Supermarkets in 2019 for $300 million.
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11. PhoneSoap Smartphone Sanitizer
- 🏢 Company: PhoneSoap
- 👨💼👨💼 Owners: Wesley Laporte and Dan Barnes
- 📺 Appeared on Shark Tank: 2015
- 😎 Investor: Lori Greiner
- 💵 Current Valuation: $5 million
Wesley Laporte and Dahn Barnes came to Shark Tank, offering a combination phone charger and sanitizer. The device uses UV light to kill bacteria: the founders noted on the show that a typical phone is 18 times dirtier than any surface in a public bathroom.
After some shark debate, Lori Greiner offered $300,000 for 10% of the company, and the owners accepted.
The company is currently the 13th largest Shark Tank company, with annual revenues of around $13.5 million and lifetime sales of $187 million. The estimated value of the company is $5 million.
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12. Kitu Super Coffee
- 🏢 Company: Kitu Life
- 👨💼 Owner: Jordan DeCicco
- 📺 Appeared on Shark Tank: 2018
- 😎 Investor: None
- 💵 Current Valuation: $400 million
Kitu Super Coffee is another example of a company that failed to make a deal with a shark but went on to become one of the best shark tank products anyway.
The founder of Kitu, Jordan DeCicco, developed a coffee-based lactose-free sports energy drink while still in college, after becoming aware of the high amounts of sugar and other additives in sports-related beverage products.
Jordan and his brothers designed and launched an organic coffee drink with coconut oil-based nutritious fats and lactose-free proteins. The brothers promoted their drink on Shark Tank in 2018, asking for $500,000 for 5% of the company. The sharks weren’t impressed with the product or the deal and passed.
Patrick Schwarzenegger (Arnold’s son) saw the episode and later invested, along with other venture capitalists. 2021 sales were around $97 million, and the company was valued at around $ 400 million.
You don’t need to convince a shark to turn a Shark Tank appearance into a deal!
13. Tipsy Elves Sweater
- 🏢 Company: Tipsy Elves
- 👨💼👨💼 Owners: Evan Mendelsohn and Nicklaus Morton
- 📺 Appeared on Shark Tank: 2013
- 😎 Investor: Robert Herjavec
- 💵 Current Valuation: $125 million
Tipsy Elves turned ugly sweaters into handsome profits. Lawyer Evan Mendelsohn got the idea when he saw a spike in searches for ugly Christmas sweaters, and recruited dentist Nicklaus Morton to be his partner.
The company’s line of humorous Christmas-focused sweaters made a splash on Shark Tank, convincing Robert Herjavec to pay $100,000 for a 10% stake in their company.
The company expanded, introduced new designs, and by 2016, was sporting $20 million in sales every year. By 2019, the company was valued at $125 million.
14. Love Pop Pop-up Cards
- 🏢 Company: Love Pop
- 👨💼👨💼 Owners: Wombi Rose and John Wise
- 📺 Appeared on Shark Tank: 2015
- 😎 Investor: Kevin O’Leary
- 💵 Current Valuation: $130 million
Wombi Rose and John Wise founded Lovepop to create unique pop-up cards using 3D planes and shapes. They made their Shark Tank debut in 2015 and scored a $300K deal for 15% ownership with one of the show’s mentors, Kevin O’Leary.
Since then, the deal secured them over $80 million in sales, with the company’s value now reaching over $100 million.
15. Flowers By The Bouqs
- 🏢 Company: The Bouqs Company
- 👨💼 Owner: John Tabis
- 📺 Appeared on Shark Tank: 2013
- 😎 Investor: None
- 💵 Current Valuation: Over $100 million
John Tabis came to Shark Tank in 2013 to pitch his fresh flower delivery service. Bouqs simplifies fresh flower shipping by charging a flat fee and offering a subscription service that allows users never to forget an occasion.
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Tabis asked for $258,000 for 3% of the company. The sharks thought that the valuation was too high, and all of them passed: Tabis did not get a deal. Unfazed, Bouqs went on to prosper. In 2016, Robert Herjevac, one of the sharks who passed on Bougs, ordered flowers from the firm and was so impressed that he invested money in the firm three years after its Shark Tank episode aired.
As of April 2022, Bouqs was a thriving business with $59 million a year in revenues, another Shark Tank reject that went on to become one of Shark Tank’s best products.
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16. Kismet Waves Shirt
- 🏢 Company: Buttercloth
- 👨💼 Owner: Danh Tran
- 📺 Appeared on Shark Tank: 2018
- 😎 Investor: Robert Herjavec
- 💵 Current Valuation: $15 million
Buttercloth offers a special soft cotton blend that makes dress. After drawing investments from Gary Falkenberg and NBA star Metta World Peace, Buttercloth owner Danh Tran took the shirts to the Shark Tank in 2018.
Robert Herjavec offered $250,000 for 25% of the company, and Tran eventually accepted. As of November 2022, the company was generating $6 million a year in revenue and was valued at an estimated $15 million.
17. Rocketbook Smart Reusable Notebook
- 🏢 Company: Rocketbook
- 👨💼👨💼 Owners: Jake Epstein and Joe Lemay
- 📺 Appeared on Shark Tank: 2013
- 😎 Investor: None
- 💵 Current Valuation: Acquired for $40 million (2020)
Jake Epstein and Joe Lemay launched Rocketbook in 2013, blending old school with high tech with erasable notebooks that can exchange notes with cloud-based services like Google Drive.
Jake and Joe appeared on Shark Tank in 2017, asking for $400,000 for 10% of the company. They failed to score a deal but carried on with the business. In 2016, they raised over $500,000 on Kickstarter, and in 2020, pen maker BIC acquired Rocketbook for $40 million.
18. Bangles By Bala
- 🏢 Company: Bala
- 👨💼👩💼 Owners: Max Kislevitz and Natalie Holloway
- 📺 Appeared on Shark Tank: 2013
- 😎 Investor: Maria Sharapova and Mark Cuban
- 💵 Current Valuation: $52 million
Max Kislevitz and Natalie Holloway built Bala to combine fashion and fitness, selling wearable wrist and ankle weights that don’t look like weights.
All of the sharks made offers, but the winning bid came from Mark Cuban and guest investor Maria Sharapova, who offered $900,000 for 30% of Bala.
In 2023, the company is generating $29 million in annual revenue and is reportedly worth $50 million.
19. ReadeREST Magnetic Eyeglass Holder
- 🏢 Company: ReadeREST
- 👨💼 Owner: Rick Hopper
- 📺 Appeared on Shark Tank: 2012
- 😎 Investor: Lori Greiner
- 💵 Current Valuation: $4 million
Rick Hopper, the founder of ReaderREST, set out to make money out of the perennial problem of lost glasses. He developed a holder that lets users clip their glasses securely to their clothes.
Hopper brought his product to Shark Tank in 2012 and immediately got the attention of Lori Greiner, who offered a $150K deal for 65% ownership.
ReadeREST sold $13 million worth of products in the next three years, and by 2023 was producing revenues of $5 million a year.
20. Lobster Rolls By Cousins Maine Lobster
- 🏢 Company: Cousins Maine Lobster
- 👨💼👨💼 Owners: Sabin Lomac and Jim Tselikis
- 📺 Appeared on Shark Tank: 2012
- 😎 Investor: Barbara Corcoran
- 💵 Current Valuation: Over $50 million
How well does a lobster do in a Shark Tank? Maine-born cousins Jim Tselikis and Sabin Lomac started out in 2011 with a single food truck in Los Angeles. A year later they took their signature Lobster Rolls to the Shark Tank.
Not all of the sharks were impressed, but Barbara Corcoran made a deal: $55,000 for 15% equity in the business.
By 2016, the company had 20 food trucks in 13 locations, a fast-casual restaurant in LAS, and an e-commerce business shipping lobster products and other items nationwide. In 2023, the company has over 50 outlets and annual sales of $50 million.
Conclusion
As you can see from this list, many of the best Shark Tank products didn’t get an investment from the show. That doesn’t mean their appearance was worthless or wasted. The exposure they got on the show often drove significant sales and attracted other investors.
There are lessons there for people who are put off by the cost of starting a business. Use your imagination, don’t be afraid to ask for investment, don’t give up if you don’t get an offer… and consider appearing on Shark Tank!
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