Shark Tank has become a popular TV show where entrepreneurs pitch their business ideas to a panel of rich investors known as “sharks.” If the sharks like the idea, they offer money in exchange for a part of the business. Many businesses have been featured on the show and become very successful. Let’s take a look at some of the most successful businesses that started with a deal on Shark Tank.
1. Bombas – Comfortable Socks That Give Back
Bombas is a sock company that donates a pair of socks to homeless shelters for every pair sold. The idea was pitched by David Heath and Randy Goldberg in 2014. Daymond John believed in their business and offered $200,000 for a 17.5% share. Since then, Bombas has grown into a $1.3 billion company and even sells other items like T-shirts and underwear.
Deal: $200,000 for 17.5% of the business from Daymond John
2. Scrub Daddy – The Smile Sponge
Scrub Daddy is a sponge that changes its texture depending on the water temperature. This makes it a better cleaning tool. Aaron Krause, the inventor, got a deal from Lori Greiner in 2012. The company sold millions of sponges in its first year and has now made over $200 million in sales. The cute smiley face on the sponge helped make it very popular.
Deal: $200,000 for 20% of the business from Lori Greiner
3. Everlywell – Health Tests at Home
Everlywell lets you take health tests at home and get results without visiting a doctor. Julia Cheek, the founder, pitched the idea in 2017 and received $1 million from Lori Greiner for 5% of the company. By 2020, the company was worth over $1.1 billion, making it a huge success. Everlywell’s at-home testing model became especially popular during the COVID-19 pandemic.
Deal: $1 million for 5% of the business from Lori Greiner
4. Squatty Potty – The Toilet Stool
Squatty Potty is a stool that helps you sit in a more natural way on the toilet. This simple but effective product was pitched on Shark Tank in 2014. Lori Greiner saw the potential and made a deal for $350,000 in exchange for 10% of the company. Squatty Potty became a viral sensation thanks to a funny commercial with a unicorn. The business made over $200 million in sales.
Deal: $350,000 for 10% of the business from Lori Greiner
5. Ring – The Smart Doorbell
Ring makes smart doorbells that let you see who is at your door from your phone. Jamie Siminoff, the founder, pitched Ring in 2013 but didn’t get a deal. However, the exposure from Shark Tank helped the company grow. In 2018, Amazon bought Ring for more than $1 billion. Ring is now a major part of Amazon’s smart home products.
Deal: No deal on the show, but later bought by Amazon for $1 billion
6. The Bouqs Company – Fresh Flowers Delivered
The Bouqs Company sells fresh flowers directly from farms, cutting out the middleman. This keeps flowers fresher and less expensive. Founder John Tabis pitched the idea on Shark Tank in 2014 and received $200,000 from Robert Herjavec for 5% of the company. The Bouqs Company is now valued at over $100 million and has become one of the top online flower companies.
Deal: $200,000 for 5% of the business from Robert Herjavec
7. Halo Top – Healthy Ice Cream
Halo Top is a low-calorie, high-protein ice cream that became very popular with people trying to eat healthier. Justin Woolverton, the founder, pitched the product on Shark Tank in 2015. Mark Cuban saw the potential and offered $1 million for 25% of the company. By 2020, Halo Top was making over $342 million in sales and became one of the most successful ice cream brands.
Deal: $1 million for 25% of the business from Mark Cuban
How Shark Tank Can Help Businesses Succeed
The success stories of businesses like Bombas, Scrub Daddy, and Everlywell show how a Shark Tank deal can really help a company grow. The exposure on the show gives businesses the chance to get noticed by a larger audience. Plus, having a shark investor can bring valuable advice, resources, and connections. While not every business on Shark Tank becomes a success, those that do prove that a great idea, a solid product, and hard work can turn a small business into a big brand.