For over 10 years, ABC’s hit show Shark Tank has seen dozens of entrepreneurs looking for investment. The show has had some great episodes that are informational, educational, heartwarming and fun. But, at the end of the day, this show is about making business deals. So no matter how great a pitch was, or how much potential a product has, the Sharks are there to make money.
So, after the lights die down and the cameras are off, which deals became the most successful? In this article, we will list 15 of the most successful shark tank deals. We’ve only included deals that were closed after the show. This means that a company like Ring, which was rejected by the sharks, will not make the list. Even though Ring has an estimated annual revenue of $400 million.
1. Scrub Daddy
Investment: $200,000 for 20%
Annual Revenue: $50 Million – $200 Million
This little kitchen sponge company is known as one of the best deals Lori Greiner has made while on the show. During Season 4, Aaron Krause pitched a reusable sponge in the shape of a smiling face that gets firm in cold water and soft in warm water. Krause had already had some previous entrepreneurial success after he sold his line of buffing and polishing pads to 3M. But he seemed to be having difficulty gaining traction as he was not able to gross more than $100,000 in one year with Scrub Daddy.
This product, however, seemed to be a perfect match for the queen of QVC as Greiner offered a 20% stake in the company for $200,000. Regarded as the most successful deal ever made in the Shark Tank, Scrub Daddy has gone on to gross more than $100 million. Lori was also able to get the product into retailers like Bed Bath and Beyond.
Investment: $200 for 17.5%
Sales: Approx $18.5 million
By now, the whole world has heard of this unique company aimed at changing the world and giving back. But, there was a time when Bombas was a company looking for help reaching the world. David Heath and Randy Goldberg met while working for a media company in 2007. Though they hadn’t had a passion for socks, they became interested in them once they learned that socks were the No. 1 most requested clothing item at homeless shelters. The duo worked on a business model that would sell premium socks as well as donate socks to those in need.
The founders entered the shark tank asking for $200,000 for 5% of their company. They ended up giving up 17.5% but they left with the shark they wanted. Daymond John’s experience with his clothing company FUBU has made a big difference. The company has generated $18.5 million in annual sales and is growing at a rate of 300% per year.
3. Squatty Potty
Investment: $350,000 for 10% (shared with Kevin O’Leary)
Gross Sales: $150 million+
When pitching a product designed to help with easier bowel movements, you never know if you will be taken seriously. However, Bobby Edwards was successfully able to pitch his company Squatty Potty to the sharks and land $350,000 in investment capital from Greiner and fellow shark Kevin O’Leary.
Within 3 months of the episode airing, the product went on to make $12 million in sales. The company has reportedly made over $150 million in total sales.
4. Simply Fit Board
Deal: $125,000 for 18% equity
Sales: Over $160 million
This product is a balance board that is designed to help individuals exercise and shape. The product was pitched by the mother and daughter entrepreneurs Gloria Hoffman and Linda Clark. The duo initially offered $15% of their company for $125,000. The founders negotiated with Lori and Kevin, with O’Leary offering $125,000 for 30% of the company. The entrepreneurs asked O’Leary if he would be willing to partner with Greiner. To which he said “no”. Eventually, Hoffman and Clark made the deal with Greiner for 18% of their company.
Perhaps O’Leary should have partnered with Greiner as Simply Fit Board became a runaway hit. The company has sold $160 million in retail sales in just 6 years and is sold in 50,000 retail stores.
5. The Comfy
Barbara 30% for $50,000 equity
Sales: Over $150 million
Brian and Michael Speciale went into the shark tank looking to give 20% of their company to one or more of the sharks for just $50,000. The product, The Comfy, is a wearable blanket that is designed to move with you so that you never have to take it off, like ever. It has cuffed sleeves, a large pocket on the front, a huge plush hood, and a high-low hemline, so it won’t drag when you want it outside.
They wound up giving 30% of the company to Barbara and were excited to have her invest in them. The comfy has been a huge success with the company expanding into retail spaces like Bed Bath & Beyond as well as being listed on QVC. The Comfy also has a 5-star rating on Amazon with over 90,000 reviews. To date, The Comfy has proven to be one of Barbara Corcoran’s best deals on the show.
Deal: No shark deal while on the show but Robert Herjavec got involved after Shark Tank
Sales: $59 million annual revenue
The Bouqs Company was founded with the bold intention of bringing romance and delight back to what was once a noble exchange: the giving and receiving of flowers. The company was founded by John Tabis.
When Tabis first appeared on the show, he was seeking $258,000 for 3% of his company. Unfortunately for him at the time, he was unable to get any of the sharks to invest in The Bouqs Company.
However, three years later Robert Herjavec reached out to The Bouqs Company for help with his upcoming wedding. Herjavec was so impressed with the flowers and the company that he decided to get involved.
That partnership led to The Bouqs Company landing an additional $85 million in funding. Currently, its farm network houses almost 2 billion growing blooms, 10 thousand employees, and 4 thousand acres of bountiful flower fields. Since its launch, The Bouqs Co. has delivered over 30 million flowers.
Now the business sees $59 million in annual revenue.
Deal: $75,000 for 25% equity
Sales: Over $50 million
Sleep Styler is a heat-free hair drying and curling tool that curls hair while you sleep, saving you the time and effort of curling and damaging hair with an iron. Tara Brown was a San Diego ophthalmologist who came up with the product. Since appearing on Shark Tank, Sleep Styler has sold $50 million in retail sales in just 2 years since airing on Shark Tank.
Deal: $55K for 15% equity
Sales: +$30 million annually
Another one of Corcoran’s successes is a food truck with a unique selling point. Cousins Maine Lobster is an international food franchise that brings the Maine Lobster shack experience to unique neighborhoods by way of their food trucks and brick & mortar restaurants.
Cousins Sabin Lomac and Jim Tselikis started the food truck in 2012 after realizing that the Maine lobster experience was something that was missing in California. After losing the interest of four of the Sharks during their time in the tank, the duo was able to land a deal with Corcoran by offering 15% of the company for $55,000.
The other sharks missed out on a goldmine. Corcoran went right to work on building Cousins Maine Lobster. She helped them increase the number of trucks, expand into other cities, and make appearances on QVC as well as nationally televised shows like “Good Morning America,” “The Today Show,” “Master Chef,” “The Chew,” and The Food Network.
The company now grosses nearly $30 million in annual sales.
9. Bubba’s-Q Boneless Ribs
Investment: $300,000 for 30%
Sales: $16 million+
After Al “Bubba” Baker spent 13 seasons in the NFL as one of the league’s most feared pass-rushers, he found a second career by founding Bubba Q’s Boneless Ribs. What makes the company really unique is its patented boneless rib recipe.
During the episode, Daymond John said, “I still believe that this will potentially be my biggest deal ever.” Bubba Q’s is definitely becoming one of John’s best deals as the company went from making $154,000 in sales to $16 million in 3 years.
10. Tipsy Elves
Investment: $100,000 for 10%
Gross Sales: $15 million+
The company that sells ugly holiday sweaters had already sold 5,000 units before entering the shark tank. Corporate lawyer Evan Mendelsohn and endodontist Nick Morton started Tipsy Elves when Mendelsohn noticed the increasing popularity of ugly holiday sweaters but realized there was no central place to purchase them. The duo had invested $140,000 into the company when they appeared on the show but left with $100,000 from Herjavec.
Since then, Tipsy Elves has made over $15 million in sales. The company’s growth was helped by the movie The Night Before starring Seth Rogen, Joseph Gordon-Levitt, and Anthony Mackie. Tipsy Elves struck a deal with the production company to mass-produce the sweater worn by Rogen in the movie.
11. Grace and Lace
Investment: $175,000 for 10%
Gross Sales: Approx $20 million+
During Season 5, Rick and Melissa Hinnant were able to land a $175,000 investment from Corcoran for their women’s accessory company Grace and Lace. Since the episode aired, the company has generated approximately $20 million in sales. Corcoran told Business Insider that it was her most profitable Shark Tank investment at the time.
Investment: $150,000 for 80% licensing rights (shared with Mark Cuban)
Sales: Acquired by Shutterfly for $14.5 million
During Season 5 Brian and Julie Whiteman pitched their business called GrooveBook to the investors on Shark Tank. Groovebook is an app and service which lets you print photo books from your cell phone and then ships them to you monthly. The couple was able to make an 80% licensing deal with Mark Cuban and Kevin O’Leary for $150,000.
After appearing on the show, Groovebook’s paid subscriptions increased from 8,000 subscribers to 500,000. In 2014, the company was acquired by Shutterfly for $14.5 million.
13. Drop Stop
Deal: $200,000 for 20% equity
Sales: Over $60 million in total sales
Drop Stop is a device designed to prevent items from falling between a car’s front seats and center console. The product helps prevent driver distraction if something were to fall in the space between the seat and the console. Since airing on Shark Tank 9 years ago, the company has sold $60 million in retail sales.
Deal: $300,000 for 15% equity
Lovepop designs unique 3D paper pop-up greeting cards for all occasions. Friends Wombi Rose And John Wise began the company after discovering the incredible paper art form of kirigami. With their engineering background and their newfound love for kirigami, the duo created a company that designs incredibly artistic and creative greeting cards.
After making the deal with O’Leary, the company has seen its revenue top $40 million.
Deal: $150,000 for 65% equity
In Season 3, Lori invested in the company that solved the problem of missing and scratched glasses. After habitually losing and damaging his glasses, Rick Hopper began using paperclips and magnets to keep his glasses protected. He later developed a prototype product, bought a patent, and started displaying his invention at tradeshows.
Essentially giving Lori the entire company, Hopper agreed to accept $150,000 for 65% of his company. However, it seems to be paying off as the company has grossed more than $8 million in sales. ReadeREST is one of the most popular items on QVC and is often sold out.