The 5 Most Successful 'Shark Tank' Startups
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Since it premiered in 2009, Shark Tank has introduced the world to restaurant chains, smartphone apps, and, yes, the Squatty Potty. Products boasting an "As Seen on Shark Tank" sticker are found in Best Buys, CVSs, and Bed, Bath, & Beyonds across the country, and show has a loyal following, with millions of viewers tuning in for each episode. The regular Sharks on the show, investors like Mark Cuban and Barbara Corcoran, have become household names.
The show takes aspiring business owners who have an idea or product and lets them pitch five shark investors in roughly five minutes - and if they get an offer, it has the potential to make overnight success stories of regular people. It's not an easy task, as the sharks certainly dish out a hefty dose of criticism and skepticism on every idea. But these five businesses prove that once you land a shark, or multiple sharks, you can seriously cash in:
Buggy Beds
All five sharks split a $250,000 investment in Buggy Beds, which produces a bedbug detection system.
The products are currently available in over 20 countries, and the company pulled in an estimated $1.2 million in sales in 2016.
GrooveBook
Sharks Mark Cuban and Kevin O'Leary split a $150,000 investment for 80% licensing rights in this photo book-building app.
The company was purchased by Shutterfly for $14.5 million in 2014, when it reportedly had more than 1 million downloads.
Tipsy Elves
Perhaps one of the most famous Shark Tank startups, Tipsy Elves sells ugly sweaters for all occasions.
Shark Robert Herjavec offered the company $100,000 for 10% equity back in December 2013. Last year, the company's revenues was estimated at $8 million.
Squatty Potty
Shark Lori Greiner offered the Squatty Potty team $350,000 for 10% equity. The company enjoyed a $1 million overnight bump after the show, and in 2016 brought in a reported $30 million in revenue.
The original product line of "good posture toilet seats" has since expanded to include air fresheners and cheeky t-shirts.
Scrub Daddy
It wasn't just Squatty Potty that's brought Greiner some success. She offered $200,000 for 20% in Scrub Daddy, a kitchen sponge company that brought in a reported $50 million last year. That's the most of any product to be featured on the show, according to Forbes.
Since its Shark Tank success, Scrub Daddy has added a slew of new products, including the Scour Daddy, Sponge Daddy, and Eraser Daddy.