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Swimming in Billions: The Top 5 Wealthiest Sharks in Shark Tank

by Rolando Herrera
written by Rolando Herrera

Welcome to the thrilling universe of Shark Tank, where business titans, armed with extraordinary wealth and business acumen, are on a constant hunt for the next game-changing idea. These industry-leading Sharks, with their colossal net worths, have a knack for spotting potential in the vast sea of entrepreneurship. Fasten your seatbelts as we plunge into the depths of their investments, ventures, and the unique dynamics they bring to the Shark Tank.

1.) Richard Branson – $5.4 Billion (Est. Net Worth) 

Richard Branson on Shark Tank 1024x683 - Swimming in Billions: The Top 5 Wealthiest Sharks in Shark Tank

Net Worth:

Richard Branson is a British business magnate, investor, author, and philanthropist. He founded the Virgin Group, which comprises more than 400 companies spanning travel, financial services, telecom, health & wellness, and, more recently, space travel. As of January 2023, Branson’s net worth is estimated to be $5.2 billion.

Known For:

Richard Branson is known for his entrepreneurial spirit and his willingness to take risks. He has founded several successful companies, including Virgin Atlantic Airways, Virgin Records, and Virgin Mobile. Branson is also known for his philanthropic work and has donated millions of dollars to various charities.

Shark Tank Companies Invested In:

  • Grypmat is a company that makes non-slip mats for various uses, including kitchen countertops, workbenches, and car interiors. The mats are made of a durable material resistant to heat, cold, and moisture.
  • Locker Board is a company that makes skateboards that can be stored in a locker. The skateboards are made of a lightweight material that is easy to carry, and they have a durable design that can withstand wear and tear.
  • Sierra Madre Research is a company that develops and manufactures medical devices. The company’s products treat various conditions, including cancer, heart disease, and stroke.

Honorable Mention:

  • Doorbot, now known as Ring, is a smart doorbell company that was initially rejected by investors on the show Shark Tank. However, in 2015, billionaire Richard Branson invested in Ring after an impressive demonstration where a visitor to his private island spoke remotely with a delivery person back home using Ring. Struck by the potential of the product for home security, Branson became an investor despite the Shark Tank rejection, remarking that Ring “rang all the right bells” for him​.

Background and Experience:

Richard Branson was born in London, England, in 1950. He dropped out of school at 16 to start his first business, a magazine called Student. Branson went on to found several other successful companies, including Virgin Atlantic Airways, Virgin Records, and Virgin Mobile. Branson is also the author of several books, including Losing My Virginity and Screw Business as Usual.

Fun Facts:

  • Richard Branson has broken several world records, including the fastest crossing of the Atlantic Ocean in a hot air balloon.
  • Branson is a qualified pilot with a private island in the British Virgin Islands.
  • Branson strongly advocates for environmental causes and has set up several organizations to promote sustainability.

2.) Mark Cuban – $5.1 Billion (Est. Net Worth)

Mark Cuban on Shark Tank 1 1024x683 - Swimming in Billions: The Top 5 Wealthiest Sharks in Shark Tank

Net Worth:

As of January 2023, Mark Cuban’s net worth is estimated at $5.1 billion.

Known For:

Mark Cuban is a billionaire entrepreneur, investor, and television personality. He owns the Dallas Mavericks NBA team and is the co-owner of 2929 Entertainment. He has been a “shark” investor on the ABC reality television series Shark Tank since season two in 2011.

Shark Tank Companies Invested In: (3 out of 85 Deals)

  • Ten Thirty-One Productions: Ten Thirty-One Productions is a company that produces horror-themed events, including haunted houses, escape rooms, and zombie walks. The company was founded in 2010 by Michael Koltes and Andy Hurst. Ten Thirty-One Productions has produced events in over 20 cities across the United States.
  • Rugged Maniac Obstacle Race: Rugged Maniac is an obstacle race series designed to be fun and challenging. The races feature a variety of obstacles, including mud pits, monkey bars, and hay bales. Rugged Maniac has been featured on ESPN and The Travel Channel.
  • Hy-Conn: Hy-Conn is a company that manufactures electrical connectors. The company’s products are used in various industries, including automotive, aerospace, and medical. Hy-Conn has been in business for over 50 years and has a strong reputation for quality.

Background and Experience:

Mark Cuban was born in Pittsburgh, Pennsylvania, in 1958. He dropped out of college after two years to start his own business. He made his first million dollars by selling his company, MicroSolutions, to CompUSA in 1995.

Cuban is known for his sharp wit and his no-nonsense approach to business. He is also known for his philanthropy and has donated millions of dollars to various charities.

Fun Facts:

  • Mark Cuban is a massive fan of the Dallas Cowboys and the Dallas Mavericks.
  • He is also a co-owner of the Landmark Theaters chain.
  • Cuban is known for his love of technology and willingness to invest in new startups.

3.) John Paul DeJoria – $3.2 Billion (Est. Net Worth)

John Paul DeJoria on Shark Tank 1024x683 - Swimming in Billions: The Top 5 Wealthiest Sharks in Shark Tank

Net Worth:

As of January 2023, John Paul DeJoria’s net worth is estimated to be $3.2 billion.

Known For:

John Paul DeJoria is an American billionaire businessman, investor, philanthropist, and entrepreneur. He co-founded the Paul Mitchell line of hair products and the Patrón Spirits Company. He has been a “shark” investor on the ABC reality television series Shark Tank since season 5 in 2013.

Shark Tank Companies Invested In:

  • Tree T Pee: Tree T Pee is a company that manufactures portable toilets designed for use in trees. Campers, hikers, and other outdoor enthusiasts use the company’s products. Tree T Pee has been featured on Shark Tank, and the company has received investment from several Sharks.

Background and Experience:

John Paul DeJoria was born in New York City in 1944. He dropped out of high school at the age of 15 and started his first business, a janitorial company, at the age of 16. He later founded the Paul Mitchell line of hair products with Paul Mitchell in 1980. DeJoria also co-founded the Patrón Spirits Company in 1989.

DeJoria is known for his entrepreneurial spirit and his willingness to take risks. He is also known for his philanthropy and has donated millions of dollars to various charities.

Fun Facts:

  • John Paul DeJoria is a self-made billionaire.
  • He is a Buddhist and a vegan.
  • He is the co-founder of the John Paul DeJoria Foundation, which supports a variety of charitable causes.

4.) Nick Woodman – $2.4 Billion (Est. Net Worth)

Nick Woodman on Shark Tank 1024x683 - Swimming in Billions: The Top 5 Wealthiest Sharks in Shark Tank

Net Worth:

As of January 2023, Nick Woodman’s net worth is estimated to be $2.4 billion.

Known For:

Nick Woodman is an American entrepreneur and the founder of GoPro, a company that makes action cameras. Woodman appeared as a guest shark on Shark Tank in season 6 in 2014.

Shark Tank Companies Invested In:

  • Shark Wheel: Shark Wheel is a company that manufactures wheels designed to reduce friction and improve performance. Skateboarders, surfers, and other athletes use the company’s products. Shark Wheel has been featured on Shark Tank, and the company has received investment from several Sharks.
  • Kitchen Safe: Kitchen Safe is designed to help people resist temptation. The device is a small, plastic box that can be locked with a timer. Users can set the timer for any time, and the package will not open until the timer has expired. Kitchen Safe is a popular product for people trying to lose weight, eat healthier, or quit smoking.

Background and Experience:

Nick Woodman was born in San Diego, California, in 1975. He started GoPro in 2002 after he was unable to find a good camera to take pictures of himself surfing. GoPro’s action cameras have become popular among athletes and other outdoor enthusiasts.

Woodman is known for his entrepreneurial spirit and his passion for surfing. He is also known for his philanthropy and has donated millions of dollars to various charities.

Fun Facts:

  • Nick Woodman is a self-made billionaire.
  • He is a surfer and an avid photographer.
  • He is the co-founder of the Woodman Foundation, which supports a variety of charitable causes.

5.) Steve Tisch – $1.6 Billion (Est. Net Worth)

Steve Tisch on Shark Tank 1024x683 - Swimming in Billions: The Top 5 Wealthiest Sharks in Shark Tank

Net Worth: 

As of March 2023, Steve Tisch’s net worth is estimated to be at $1.6 billion.

Known For: 

Steve Tisch is an American businessman and film producer best known for his work on the films “Forrest Gump” and “The Lord of the Rings” trilogy.

Shark Tank Companies Invested In: 

  • The Cookie Dough Cafe is a company that sells edible cookie dough. The company was founded in 2012 by Joan Pacetti and Julia Schmid. The company’s products are made with all-natural ingredients and are available in various flavors, including chocolate chip, peanut butter, and sugar. The Cookie Dough Cafe’s products are available in over 10,000 retail locations, including Whole Foods Market, Target, and Safeway. The company has also opened its own brick-and-mortar cafe in New York City.

Background and Experience: 

Steve Tisch was born in New York City in 1942. He is the son of Laurence Tisch, the chairman of CBS Corporation, from 1986 to 1995. Tisch graduated from Brown University in 1964 and worked as a Loeb Rhoades & Co financial analyst.

In 1975, Tisch joined his father’s company, Loews Corporation. He eventually became Loews’s chairman and CEO, overseeing the company’s diversification into new businesses, such as hotels and insurance.

Tisch is also a successful film producer. He has produced over 50 films, including “Forrest Gump” (1994), “The Lord of the Rings” trilogy (2001-2003), and “The Curious Case of Benjamin Button” (2008). He has won three Academy Awards for Best Picture for “Forrest Gump” (1994), “The Lord of the Rings: The Return of the King” (2003), and “The Curious Case of Benjamin Button” (2008).

Tisch is a philanthropist and has donated millions of dollars to various charitable causes. He is a trustee of the New York Public Library and the Museum of Modern Art. He is also a member of the Council on Foreign Relations.

Fun Facts:

  • Steve Tisch is a self-made billionaire.
  • He is a co-owner of the New York Giants, an NFL team.
  • He is the producer of the films “Forrest Gump” and “The Lord of the Rings” trilogy.

Disclaimer:

The data presented in this article is intended for informational purposes only. While every attempt has been made to ensure its accuracy, the rapidly changing nature of the business world means some details may have evolved or changed since the time of writing. INSIGNIA SEO / INSIGNIA NEXUS is not affiliated with ‘Shark Tank’, ABC, or any of its subsidiaries, and does not warrant the completeness or timeliness of the information contained in the document. Readers are encouraged to conduct their own due diligence before making any business decisions.

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CaffeindicatorShark Tank

Caffeindicator: Shark Tank Updates in 2023

by Rolando Herrera
written by Rolando Herrera

The Basics

  • Company: Caffeindicator
  • Product: Caffeine test strips
  • Owner: Michael Schiavone
  • Asking Price: $200,000 for 25% equity
  • Final Deal: $200,000 for 50% equity with Kevin Harrington
  • Season/Episode: Season 1 Episode 13

Caffeindicator Before Shark Tank

Before Shark Tank, Michael Schiavone came up with an innovative idea: caffeine test strips. This invention, known as Caffeindicator, was designed to help consumers determine whether their coffee is decaf or not. The litmus test, in the form of ink printed on a sweetener packet, would turn pink if caffeine was present in the drink.

Caffeindicator On Shark Tank

During his appearance on Shark Tank, Michael presented his Caffeindicator, demonstrating how it worked and emphasizing its potential appeal, even for those not necessarily into sweeteners. He aimed to break into the sweetener industry and create a bidding war between competitors, offering them a chance to make extra money per packet and provide something their competitors did not have. With an already-acquired patent for the product, Michael was poised to become an intimidating figure in the business.

The Sharks had mixed reactions. Barbara Corcoran and Daymond John saw potential weaknesses in the idea and backed out. Kevin O’Leary appreciated Michael’s business approach, while Robert Herjavec was intrigued but wanted more information about the cost of production. Ultimately, it was Kevin Harrington who made a deal with Michael for $200,000 in exchange for 50% equity, contingent on securing a deal with a sweetener company.

The Bidding

The bidding process saw a mix of reactions among the Sharks. Kevin Harrington saw potential in the idea and offered $200,000 for a 50% stake. Robert Herjavec made a similar offer but for a larger equity stake of 60%. Kevin O’Leary tried to join the offers but hesitated, allowing Kevin Harrington to secure the deal.

Final Deal: $200,000 for 50% Equity

Michael accepted Kevin Harrington’s offer of $200,000 for 50% equity in Caffeindicator. However, the deal was contingent on Michael securing a deal with a major sweetener company.

Caffeindicator After Shark Tank

Despite initial excitement following the Shark Tank episode, the deal with Kevin Harrington never came to fruition, and Caffeindicator did not manage to secure a partnership with a sweetener company. The product eventually disappeared from the market, and Michael’s vision of breaking into the sweetener industry with his caffeine test strips remained unfulfilled. As of 2023, Caffeindicator is no longer in business.

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Captain Ice CreamShark Tank

Captain Ice Cream: Shark Tank Updates in 2023

by Brad Hurst
written by Brad Hurst

The Basics

Company: Captain Ice Cream
Product: Mobile ice cream franchise
Owner: Tim Gavern
Asking Price: $48,000 for 25% equity
Final Deal: No Deal
Season/Episode: Season 1, Episode 13 (January 29, 2010)

Captain Ice Cream Before Shark Tank

Tim Gavern, the founder of Captain Ice Cream, hails from a family of ice cream entrepreneurs. However, it wasn’t until the publishing industry, where he was employed, started to decline that he turned to his family business. Gavern came up with a unique concept of a mobile ice cream franchise, operated via a van and a moped, and brought it to Shark Tank in hopes of receiving an investment to expand his business.

Captain Ice Cream On Shark Tank

Gavern impressed the Sharks with his lively personality and unique ice cream-stocked moped during his pitch. He shared his dream of reviving the nostalgia of traditional ice cream trucks with a fun, unique flair and a proposed franchising model. However, when Gavern revealed his modest profits – about $25 an hour peddling ice cream around his neighborhood – the Sharks were less than enthusiastic. They felt that Gavern was too early in his business journey and that his enterprise needed more than cool mopeds to stand out in the industry. Ultimately, he did not receive any offers from the Sharks.

The Bidding

Despite their appreciation for his enthusiasm, the Sharks were not convinced by Gavern’s pitch. They had concerns about his limited profits, the fact that he did not produce the ice cream himself, and that he had yet to sell a franchise. The Sharks believed Gavern was unprepared and needed to do more groundwork before seeking investment.

Final Deal

Despite his enthusiasm and unique approach, Gavern did not secure a deal on Shark Tank. The Sharks felt that Captain Ice Cream was still at a nascent stage and lacked a solid business plan to warrant their investment.

Captain Ice Cream After Shark Tank

After his appearance on Shark Tank, Gavern continued to pursue his dreams with Captain Ice Cream. Despite not securing an investment, he leveraged his screen time on the show to promote his business. He began offering franchise packages of his moped-powered ice cream vending business. For $12,495, franchisees would receive a signature Captain Ice Cream moped, an umbrella, a uniform, and 500 business cards. Gavern also offered a second franchise option that included a customized Captain Ice Cream van for $44,495.

However, as of 2022, Captain Ice Cream is no longer in business. It’s unclear how much attention Gavern’s franchise kits received, but the lack of a live website since the summer of 2014 suggests they did not do well. Currently, Gavern seems to be working in the vehicle industry, but his cheerful personality remains recognizable. Even though Captain Ice Cream is no longer operating, the iconic moped still receives some attention, reminding us of the unique and cheerful ice cream business that once was.

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Lipstix RemixShark Tank

Lipstix Remix: Shark Tank Updates in 2023

by Edward Kost
written by Edward Kost

The Basics

  • Company: Lipstix Remix
  • Product: A lipstick repair kit that allows users to recycle their old lipsticks and create new shades
  • Owner: Jill Quillin
  • Asking Price: $105,000 for 30% of the company
  • Final Deal: $105,000 for 50% of the company with Barbara Corcoran, Daymond John, and Kevin Harrington
  • Season/Episode: Season 1, Episode 13

Lipstix Remix Before Shark Tank

Jill Quillin is a stay-at-home mom who started Lipstix Remix in her garage in 2009. She was inspired to create the product after she realized how much lipstick is wasted every year. The average woman throws away 12 lipsticks in her lifetime, and each lipstick contains about 1/3 of a teaspoon of product. That’s a lot of wasted makeup!

Lipstix Remix is a simple but effective product that allows users to recycle their old lipsticks and create new shades. The kit comes with a variety of tools and ingredients, including a heating element, a mixing bowl, and a variety of pigments. Users simply melt their old lipsticks in the heating element, mix them with the pigments, and pour the mixture into a new lipstick tube. The result is a new, custom-made lipstick that is both affordable and environmentally friendly.

Lipstix Remix On Shark Tank

Jill Quillin appeared on Shark Tank in Season 1, Episode 13, seeking $105,000 for 30% of her company. She told the sharks that Lipstix Remix had generated $1 million in sales in the past year.

The sharks were impressed with Jill’s passion for her business and her commitment to sustainability. However, they were concerned about the high cost of the kit and the lack of a franchise model. In the end, Barbara Corcoran, Daymond John, and Kevin Harrington made an offer of $105,000 for 50% of the company. Jill accepted the offer, and Lipstix Remix became the first company to ever make a deal on Shark Tank.

The Bidding

After Jill Quillin’s pitch, the sharks began to discuss the merits of her business. Barbara Corcoran was impressed with the product and the potential market. She offered $105,000 for 50% of the company. Daymond John was also interested in the business, but he wanted to see more proof of concept. He offered $105,000 for 40% of the company. Kevin Harrington was also interested in the business, but he wanted to see a larger market share. He offered $105,000 for 30% of the company.

In the end, Jill Quillin accepted Barbara Corcoran, Daymond John, and Kevin Harrington’s offer of $105,000 for 50% of the company.

Final Deal: $105,000 for 50% of the company with Barbara Corcoran, Daymond John, and Kevin Harrington

Jill Quillin’s deal with the sharks was a major success for Lipstix Remix. The investment from the sharks helped the company to expand its production and distribution. Lipstix Remix is now sold in stores nationwide, and it has become a popular choice for women who are looking for an affordable and environmentally friendly way to recycle their old lipsticks.

Lipstix Remix After Shark Tank

Since her appearance on Shark Tank, Jill Quillin has continued to grow her business, Lipstix Remix. The company now sells its products in stores nationwide, and it has also launched an online store. In addition, Lipstix Remix has partnered with a number of environmental organizations to promote sustainability.

Jill Quillin is a successful entrepreneur who has built a thriving business from the ground up. She is a role model for women everywhere who are looking to start their own businesses.

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Pillars of SlippersShark Tank

Pillars of Slippers: Shark Tank Updates in 2023

by Brian Holder
written by Brian Holder

The Basics

  • Company: Pillars of Slippers
  • Product: A line of comfortable, affordable, and stylish slippers
  • Owner: Nicole Jones
  • Asking Price: $150,000 for 15% of the company
  • Final Deal: No deal
  • Season/Episode: Season 1, Episode 14

Pillars of Slippers Before Shark Tank

Nicole Jones is a self-proclaimed “shoe professor” who has a passion for finding the perfect pair of shoes for every woman. After years of working in the shoe industry, she decided to start her own business, Pillars of Slippers, in 2009.

Pillars of Slippers offers a line of comfortable, affordable, and stylish slippers. The shoes are made from high-quality materials and are designed to be both stylish and comfortable. Pillars of Slippers also offers a variety of styles to choose from, so women of all ages and sizes can find the perfect pair of slippers for their needs.

Pillars of Slippers On Shark Tank

Nicole Jones appeared on Shark Tank in Season 1, Episode 14, seeking $150,000 for 15% of her company. She told the sharks that Pillars of Slippers had generated $1 million in sales in the past year.

The sharks were impressed with Nicole’s passion for her business and her commitment to quality. However, they were concerned about the high cost of her shoes and the lack of a franchise model. In the end, none of the sharks made an offer for Pillars of Slippers.

The Bidding

After Nicole Jones’s pitch, the sharks began to discuss the merits of her business. Mark Cuban was impressed with the quality of the shoes, but he was concerned about the high price point. Kevin O’Leary was also impressed with the shoes, but he was worried about the lack of a franchise model. Daymond John was interested in the business, but he wanted to see more proof of concept. Lori Greiner was not interested in the business.

In the end, none of the sharks made an offer for Pillars of Slippers.

Final Deal: No Deal

Nicole Jones did not receive a deal from the sharks on Shark Tank. However, she has continued to grow her business since her appearance on the show. Pillars of Slippers now sells its shoes in over 100 stores nationwide.

Pillars of Slippers After Shark Tank

Since her appearance on Shark Tank, Nicole Jones has continued to grow her business, Pillars of Slippers. The company now sells its shoes in over 100 stores nationwide. In addition, Pillars of Slippers has launched an online store and a line of home goods.

Nicole Jones is a successful entrepreneur who has built a thriving business from the ground up. She is a role model for women everywhere who are looking to start their own businesses.

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Hold Your HaunchesShark Tank

Hold Your Haunches Shapewear: Shark Tank Updates in 2020

by Molly Morrow
written by Molly Morrow

The Basics

  • Company: Hold Your Haunches
  • Owners: Erin Bickley and Jenny Greer
  • Product: shapewear apparel for women
  • Asking Price: $75,000 for 20% equity
  • Final Deal: $75,000 for 40% equity, plus a line of credit
  • Sharks Who Took The Bait: Barbara Corcoran and Lori Greiner
  • Season/Episode: Season 5, Episode 23

Hold Your Haunches Before Shark Tank

Erin Bickley and Jenny Greer are the “head haunchos” of Hold Your Haunches, a women’s shapewear apparel line. They are two fearless Southern belles from Macon, Georgia, and their entrepreneurial spirit shows in their innovative product. “When it comes to business, we’re as tough as a peach pit.”

The two friends are both mothers with three kids each. Over the years they’ve noticed their reflections have changed – particularly when it comes to their legs and derriere.  They’ve founded Hold Your Haunches to make their own product, a line of form-fitting, slimming, and flattering shapewear apparel.

“We’re on the cusp of something great, but the industry we’re in requires so much capital and so much expertise to even get to the doors, much less get them open.” They need the Sharks’ help to break into the industry and make it big. “We’ve put blood, sweat and tears into this, and if we don’t get a deal from the sharks, we’ll be heartbroken.”

Hold Your Haunches On Shark Tank: A Quick Recap

Erin and Jenny pitch their apparel line: a fashion product legging, with a fully integrated shapewear liner. It’s a totally unique, chic and one-of-a-kind product that offers smoothing and slimming support for all ages. It can be worn anywhere from the carpool lane to a cocktail party.

Charmingly, the two explain how as they’ve aged, despite all their best efforts at diet and exercise, they’ve been unable to stop their behinds from sagging beneath their underpants line, creating what they refer to as the “two-butt effect.”  They couldn’t find a legging that included shapewear anywhere in stores. “Since we were unable to find our dream pant anywhere on this earth, we created it.”

The sharks are impressed by the before and after picture. Jenny passes out samples of the fabric, and the sharks confess they’ve never felt shaper fabric this intense.

Leave it to Kevin to start raining on their parade.

“Women of a certain age with, let’s say, Rubenesque figure. Let’s say they use your product. They meet a single guy who sees them a certain way,” says Kevin, while Barb and Lori start to groan. “But on the third date, it’s time..and they find out the horrible truth. This is false advertising. And there should be litigation.”

Robert also wants to know who’s going to wear their product if the shapewear fabric is too thick and hot. “It’s too hot.”

Lori comes to the contestant’s defense. “I just have to inform my fellow male sharks here, because I think Barbara already knows: women like shapers. They do. If they have muffin tops, thighs that they don’t like, whatever it is.”

Running the Numbers

Mark, Robert and Kevin drop out before the ladies can even discuss financial details, but eventually, Lori gets around to asking about numbers.

  • Cost of production: $18 per pair, made in Asia; $30 domestically
  • Wholesale: $69
  • Retail price: $139
  • Profit margin: 87%
  • Profits for the prior year: $50,000, all reinvested into the business
  • Total sales-to-date: $280,000 since 2010
  • Total annual sales: $165,000

The men are impressed by the profit margins here, and it’s somehow deeply satisfying to know that their innate sexism pushed them out of the bidding before they even heard the numbers. (Serves you right, Kevin!) 

The Bidding

Mark jumps in to say that while he understands “every push needs a tush,” this area isn’t his core competency, and he’s out. (Looks like we’re just going to skip the numbers section of this episode entirely – no sales breakdown? No profit margin discussion? The sharks must be getting tired.)

Robert drops out next, stating he can’t see someone using it because it just feels too heavy and thick. “Which goes to show, I know nothing.”

Barbara takes the opportunity to point out sexism: “Why is it every time we have a female-oriented product on this show, you guys go out right away?” 

Kevin, meanwhile, denies that he’s a sexist, and holds fast to his claim that he “knows a lot about shapewear,” but maintains that his problem with the product is that it’s “false advertising.”

Thank God for Lori and Barb Shark, lest the entire show go down in chauvinist flames. After the men drop out like a simpering pack of gutless weasels, Lori and Barb jump in to save the day, with a fantastic offer that both sassy Southern moms are thrilled to accept.

Final Deal: $75,000, plus a line of credit, for 40% equity.

Hold Your Haunches After Shark Tank

Erin and Jenny’s business is doing so well that in 2016 they received one of Georgia’s most prestigious business honors – the Georgia Grown award.

The sassy Southern duo was featured in one of Shark Tank’s Where Are They Now? segments, where it appears that business was booming and sales were stronger than ever. Like most businesses, they received a significant boost in sales immediately following their appearance on Shark Tank. 

The full Hold Your Haunches shapewear apparel line is now available to purchase on the brand’s website, on Amazon, and at a range of smaller retailers.

Disclaimer: The information provided in this article is strictly informational; INSIGNIA SEO is not affiliated with Hold Your Hanches Shapewear, SharkTank, or any of its subsidiaries.

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Gameday CoutureShark Tank

Gameday Couture: Shark Tank Updates in 2020

by Molly Morrow
written by Molly Morrow

The Basics

  • Company: Gameday Couture
  • Product: Fashionable sports apparel for women
  • Owner: Shawnna and Kurt Feddersen
  • Asking Price: $500,000 for 20% equity
  • Final Deal: $500,000 for 33% equity, on condition of creating a fashion line for Dallas Mavericks
  • Shark Who Took The Bait: Mark Cuban
  • Season/Episode: Season 6, Episode 11

Gameday Couture Before Shark Tank

Shawnna and Kurt Feddersen are from Oklahoma (in case you couldn’t tell by the spelling of their names), and they’re out to solve one of life’s most common problems: you want to support your boyfriend’s sports team, but you have nothing to wear. 

The charismatic couple founded Gameday Coutoure in 2014 to create fashionable sports apparel for women, working with NBA and NCAA teams to create unique, fashionable clothing lines with feminine touches.

Gameday Couture On Shark Tank: A Quick Recap

It’s hard to focus on Shawnna and Kurt when their stage display is so distracting – a large and glittering display of sparkling, sequined women’s tops, all decked out in sports logos, MVP player numbers, and team colors. Hats, hoodies, t-shirts, tunics, leggings, skirts, you name it. It’s all there, and it’s all adorable. “High-quality fabrics, at competitive price points,” says Kurt, reminding us that the product is not just cute but functional and durable, too.

“We’re a success in the South, but we want to dress fans from all over,” Shawnna continues.

Robert Herjavec interjects with an insightful question, seeing as he has invested in a clothing business that has recently learned how expensive it is to acquire logo licensing from each college and university. “How many colleges and universities do you have licensing from?”

“As it stands right now, we’ve got about 37 licenses, with a few more in the works,” says Kurt, eager to show that they are capable of playing by big-kid rules.

gameday couture onsharktank - Gameday Couture: Shark Tank Updates in 2020

Gameday Couture

Running the Numbers

The models pass out samples of gear and apparel while the sharks dig into the numbers.

  • Annual sales: $750,000 last year; $1.5 million projected
  • Average wholesale cost: $22
  • Retail price: $44
  • Cost of production: $8
  • Profit margin: 64% wholesale; 82% retail
  • Projected earnings on $1.5 million sales: $100,000 in revenue

Lori interjects to say that she recently bought a blinged-out, bedazzled sports team hoodie of her own, but the price point was $60-some odd dollars. Whereas, with Gameday Couture, the price point is much lower and more affordable. The brand has a much better chance of appealing to the masses and selling well.

They’ve also worked hard to procure something called an “alumni cut,” at a competitive price point, which helps grow their student and university customer base.

The Bidding

Kevin scolds them for not being proprietary, and for not knowing their own value. “I think you overpriced your business, and I think you’re worth about $750,000.” (In retrospect, this is deliciously ironic, given that the company did $20 million in sales just two years after this episode aired.) Kevin is first to drop out.

Daymond is next, and then Robert.

Mark wants to know how their business is doing online – as he thinks most of their business should be online. They’re doing well, but not as well as he’d like to see. After realizing that it was a matter of proving themselves to their licensing partners with store orders, rather than vague online fellowship, Mark seems confident enough in the business and makes an offer – with a caveat. 

“I’m going to make you an offer for the full $500,000, for 30% equity, but there’s a caveat. And I’m not going to tell you what that caveat is until you answer the offer. So you’re going to have to trust me a little bit.”

Josh and Sara take only a moment to mull it over, before happily accepting Mark’s offer. (And the caveat? They have to make a line for the team Mark Cuban owns – the Dallas Mavericks.) 

Final Deal: $500,000 for 30%, with a custom line for the Dallas Mavericks

Gameday Couture After Shark Tank: Where Are They Now?

Gameday Couture is one of the most successful companies – and best investments – that Mark Cuban has ever played a role in lifting out of obscurity.

In 2018 alone, Gameday Couture racked up a staggering $20 million in revenue. 

Their full product line is sold directly online, through Amazon, at Dick’s Sporting Goods, Social House Boutique, and tons of other retail locations around the country.

Gameday Couture consistently tops internet lists of the best Shark Tank investments and the most successful Shark Tank companies of all time.

The company’s Instagram boasts nearly 30,000 followers, while the Gameday Couture Facebook page has more than 318,000 followers. 

Needless to say, this women’s fashion line didn’t just score a touch down with sports fans – they changed the whole game, for fashionistas, designers, entrepreneurs, and investors.

Disclaimer: The information provided in this article is strictly informational; INSIGNIA SEO is not affiliated with Gameday Couture, SharkTank, or any of its subsidiaries.

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Coffee Meets BagelShark Tank

Coffee Meets Bagel: Shark Tank Updates in 2020

by Molly Morrow
written by Molly Morrow

The Basics

  • Company: Coffee Meets Bagel
  • Owner: Arum, Dawoon, and Soo Kang
  • Product: Online dating site for women
  • Asking Price: $500,000 for 5% equity
  • Final Deal: None – Rejected largest offer in Shark Tank history ($30 million from Mark Cuban)
  • Season/Episode: Season 6, Episode 13

Coffee Meets Bagel Before Shark Tank

Coffee Meets Bagel is an impressive concept that uses mutual friend matching to take the fear and uncertainty out of online dating. The user-friendly app culls data from Facebook friends and mutual connections to find a high-quality romantic match. If both users approve of the proposed match, the app offers them a coupon or discount to use on dates. First launched in April 2012 in New York City, Coffee Meets Bagel quickly expanded to Boston and San Francisco markets a few months later.

How exactly did this online dating site manage to bag the single largest offer in Shark Tank history (Mark Cuban’s jaw-dropping $30 million proposal)?

And how fast, exactly, did these sister entrepreneurs reject his deal?

Read on to find out.

Coffee Meets Bagel On Shark Tank: A Quick Recap

Arum, Dawoon, and Soo Kang are three sisters from San Francisco, California. They were born and raised in Korea, but as teenagers they immigrated to America. To say they’re accomplished is a bit of an understatement: one went to Stanford Business School, one went to Harvard Business School, and one went to Parsons School of Design. They put their heads together, quit their high-paying jobs, and went into business together. Their company offers a new twist on online dating, and they believe it has the power to change lives.

They’re here on “Shark Tank” asking for a $500,000 investment in exchange for 5% equity in their company.

They’ve taken the proven concept of daily flash cell sites and merged it with social networking elements to create the highest-quality dating service for singles.

The app works in a beautifully simple way, as Soo explains:

Every day at noon, the app curates one perfect match – a match who also just happens to be a friend of a friend. You have 24 hours to review their profile information and choose to ‘like’ or ‘pass’ on the match. A ‘mutual like’ results in a private chat line that expires in 7 days.

“The secret to online dating success is winning over women,” says Dawoon. “Women are tired of signing up for online dating sites only to get hit on by creepy strangers bombarding them with disgusting messages.” (A fact which this reporter can absolutely confirm.)

The app solves all that, and takes the stigma out of online dating. Since the app was launched, it has grown by double digits each month, and is rapidly becoming a favorite among women. 

The core service is free, but premium services can be unlocked using virtual currency in the form of coffee beans. For example, the most popular premium service is called ‘Open Sesame,’ and it reveals to you who the mutual friends are that are usually kept anonymous. This level of intrigue increases the mystery and lures people into buying the Open Sesame feature, which costs about 95 coffee beans (around $0.50 in actual currency).

The app uses a proprietary machine-learning algorithm to sort matches based on user data. All users must sign up through Facebook, and the algorithm uses Facebook’s data as a foundation. No other questionnaires or features are used to gather data at this point, which helps streamline the signup process and keep processing time to a minimum.

“The idea is that you don’t have to make someone go through a separate application process,’ says Kevin.

“Exactly,” the sisters confirm, almost in unison.

Shark Tank Coffee Meets Bagel Kang sisters 1024x640 - Coffee Meets Bagel: Shark Tank Updates in 2020

Running the Numbers

After an impressive introduction and review of how the product works, the sharks dig into the financial details of the dating app.

  • Monthly users: Between 100,000 and 500,000 users
  • Annual sales: $87,000 last year; $270,000 in first five months of current year
  • Projected annual sales: $1 million for current year; $10 million for next year
  • Customer acquisition cost (CAC): $0.30 cents
  • Profit margin: negative

The sisters refuse to reveal an exact number of monthly users, which they claim is for competitive reasons, but they are maddeningly vague on this point. They claim that it gives a good idea of user base, but it clearly doesn’t. After repeated grilling from the sharks, Mark Cuban drops out on principle. “I’m out.  You have to give us that, are you kidding? I’m out,” he says. The sisters seem unruffled, and continue fielding questions.

As it turns out, their profit margins are negative – meaning they aren’t making any profit currently. They had to spend a huge amount of money upfront, mostly on salaries to pay their web developers. That includes paying themselves a $100,000 salary each. The sharks seem incredulous at this number.

“That is still a significant pay cut from what we were making prior,” says Dawoon, to which Robert responds with rollicking, mocking laughter.

The sisters have raised $2.8 million in external funding so far, with one notable investor being one of the co-founders of Match.com, who loved their idea.

But although they’re raking in the money, they’re not making any. 

They plan to break even on a projected $10 million in revenue, but here’s why: they plan to bring on 4 million users next year, which will generate about $2.50 each – hence the $10 million. They plan on spending about $3 million on marketing.

“It is our decision to invest more now to accelerate growth,” says Dawoon, sticking to her guns.

coffeemeetsbagel on shartkank after 1024x576 - Coffee Meets Bagel: Shark Tank Updates in 2020

The Bidding

Robert says they’re an all-or-nothing game. They’re losing so much money that they’re not really in the making-money business, they’re merely in the business of acquiring users. They absolutely need to hit a home run for this to work, and it’s too risky for Robert. He’s the first to drop out.

Kevin is next to drop, saying that one of the things he’s noticed after six seasons of Shark Tank is that he’s really, really valuable. And it’s made him very, very greedy. “I don’t do 5% deals,” he says. “That’s worthless to me. I’m out.”

Lori drops next, saying that the combination of the very high salaries they are drawing out of their own business, combined with the internet’s high propensity for knocking off ideas and stealing their business model, makes her weary of investing.

Barbara respects their killer fundraising skills, and says their site is needed. (And she’s right.) The market for this is definitely there, and women really do need a site where they can feel like more than just a piece of meat. Much as she loves the idea, the investment is just way too much risk for way too little payoff. She drops out next, leaving only Mark Cuban remaining.

“Let me ask you a question,” says Cuban. “If I offered you $30 million for the company, would you take it?”

The sisters’ mouths fall open in shock.

They take only a few seconds to regain composure, though, and are swift to answer a resounding “No.”

“30 million dollars might sound like a lot of money, but Match.com makes $800 million a year. We think we’re on track to be as big as Match.com.”

And with that, the Kang sisters walk confidently off stage and out of Mark’s life forever. 

Final Deal: None – Largest offer in Shark Tank history, rejected.

Coffee Meets Bagel After Shark Tank

After the Coffee Meets Bagel episode of Shark Tank, the Kang sisters raised $23.2 million over the course of five funding rounds.

The app is still available on both Android and Apple devices and has reportedly 10 million users – but overall, it seems to be struggling. The market dominance the sisters envisioned has failed to materialize. In a search of top-ranked and most-popular dating sites, Coffee Meets Bagel doesn’t even crack the top 20.

Their website, meanwhile, looks sparse and suggests that their marketing angle has shifted from marketing specifically to women, to marketing to young professionals “from the richest countries in the world.” A strange shift, and one that was likely forced upon them with the rise of insanely popular women-oriented dating apps like Bumble and Zoosk.

Given the site’s sink to the bottom of the online dating barrel, it seems like the Kang sisters should have taken Mark’s deal. At least they could have used the money to buy a lifetime supply of bagels. 

Disclaimer: The information provided in this article is strictly informational; INSIGNIA SEO is not affiliated with Coffee Meets Bagel, SharkTank, or any of its subsidiaries.

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RingShark Tank

Doorbot (Ring) Doorbell Camera: Shark Tank Updates in 2020

by Molly Morrow
written by Molly Morrow

The Basics

  • Company: Doorbot (now Ring)
  • Product: Doorbell camera hybrid (security product)
  • Owner: James Siminoff
  • Asking Price: $700,000 for 10% equity
  • Final Deal: None (rejected one offer from Kevin O’Leary)
  • Season/Episode: Season 5, Episode 9

Ring Before Shark Tank

Opportunity knocked loudly on the Shark Tank doors, back in 2013, but only one of the sharks seemed to recognize the visitor. Like all brilliant ideas that revolutionize daily life, Ring was ahead of its time, and the market for it didn’t quite exist at the time of its inception. Ring is a simple concept that seems so logical and intuitive that its invention now is almost surprising – because one assumes it had already been invented. Its usefulness is so valuable to society that it fits seamlessly into modern life, as though in hearing about it you do a double-take and think to yourself, “Oh, obviously. You mean, this didn’t already exist?”

But at the time that the product debuted on Shark Tank back in 2013, the mass marketability of this product wasn’t so obvious – at least not to the sharks. Their failure to invest in this product – and to recognize opportunity knocking – would ironically become one of their biggest regrets.

Ring On Shark Tank

Jamie Siminoff, founder and CEO of Doorbot, opens this episode with one of the more memorable entrances in Shark Tank history. Instead of striding through the double doors onto the stage like most contestants, Jamie waits behind the door and knocks politely. The sharks have to guess who’s knocking. “Who is it?” “It’s Jamie,” he says, and Lori tells him sweetly to come in.

“Wouldn’t it have been nice to know who was behind the door before you let me in? With my product, you can.”

Siminoff now has full command of the room, all the sharks rapt at attention. He’s seeking a dizzying $700,000 for 10% equity in his company. (If you’re doing the math, that’s a $7 million valuation. But given that the company, seven years later, is now worth more than a billion dollars, this would have been a steal.) 

“Customers are spending billions of dollars outfitting their homes with smart security technologies that connect to their phones,” says Siminoff. “But the doorbell hasn’t changed since it was invented in 1880. Until now!” Adorably excited, Siminoff whips out a prototype of his product, the Doorbot. (Back then, Ring was called Doorbot.) It looks a little like a silver soda can, with a concave glass lens on top and a speaker built into the bottom. Not much to look at, and clumsy in design, the concept is undeniably brilliant.

ring on sharktank - Doorbot (Ring) Doorbell Camera: Shark Tank Updates in 2020

Siminoff demonstrates the product with a prop front door and doorbell hookup, showing the video feed connected to his smartphone – (with his smartphone projected on a television screen, to make the demonstration easier to view). He rings the doorbell, and the Doorbot app alerts him to the visitor, showing him a live video feed of the front door. The app allows him to see and hear his visitor without opening the door – a revolution in both household convenience and home security. He can either accept or decline the visitor directly through the app.

“Think of it as caller ID for your front door.” 

If you hit ‘accept’ on the app, Siminoff explains, your doorbell turns into a standard apartment building intercom, so you can hear and speak to your guest. The product features two-way audio and one-way video. (Essentially, you can see out, but they can’t see in.)

Running the Numbers

The sharks are impressed with the product’s home security potential, but want to dig into the financial details before making any bids.

  • Retail price: $199
  • Cost of production: $81.83 per unit, landed
  • Revenue streams: direct-to-consumer online, with Staples distribution deal in progress
  • Sales to date: $1 million over 9 months
  • Direct competitors: None

Siminoff is careful to point out the distinctions between his product and the closest competitors on the market. Though there are none that include 2-way communication and smartphone connectivity, there are several companies making products in a similar vein – but these products tend to be multipanel security systems that cost thousands. Doorbot, as Siminoff explains, is the first of its kind: a true original.

The Bidding

Mark Cuban gets into a little bit of a tiff with Siminoff at this point, daring to wade (as only Cuban does) into philosophical waters. He seems concerned that other businesses could come along with a better, smarter product and push this company into oblivion before it takes off. Siminoff counters by asking “What technology isn’t going to be replaced? The doorbell’s not going to change. We’re always going to need this technology.”

Lori Greiner is first to drop out, stating that she isn’t confident enough that the product can distinguish itself from other similar products on the market – especially given the product’s higher price point.

Mark Cuban is next to drop out, and in a scene that is almost comically off-base in retrospect, he says that he doesn’t see what makes this company worth its $7 million valuation. He wants to see something that could “someday be $80 or even $90 million.” (As of 2020, the company is worth $1.2 billion.) He doesn’t see the potential, so he’s out.

Daymond and Robert drop out next, stating that the product doesn’t have what it takes to rise through lower and mid-tier markets. (This reporter would like to note here that Daymond Green’s red-and-white pinstriped shirt with red silk tie is an exceptionally great look during this episode.) 

With four sharks out, Kevin is Siminoff’s last chance at a deal. Kevin offers $700,000 for a 10% royalty (in perpetuity) that drops down to 7% after the initial investment is recouped – but he wants 5% equity today. (This is a borderline predatory offer, at which Mark Cuban audibly scoffs.)

Siminoff mulls it over for a moment, but respectfully declines the offer. He counter-offers, replacing the royalty with an interest fee, which he insightfully points out can be paid off – unlike Kevin’s royalty-in-perpetuity offer. Kevin doesn’t like the terms, and Siminoff walks away without a deal.

Final Deal: None (one offer rejected)

Though Siminoff walked away from the tank empty-handed, Doorbot (now Ring) has gone on to become one of the most successful companies to have ever been pitched on Shark Tank. One major takeaway from the Ring saga is that not all the sharks are as good at spotting a billion-dollar idea as they’d like to pretend, or as NBC would have us believe. While Mark Cuban is never one to admit regret, the rest of the sharks’ are open about their mistakes with this episode, seeing it as a missed opportunity to invest in a billion-dollar company. 

In 2018, Ring was sold to Amazon for $1.1 billion. Shaquille O’Neal even came onboard as a Ring spokesman, hired by Amazon.

Ring is now the highest-valued company ever to have appeared on Shark Tank. 

In a final spectacular twist of fate, Jamie Siminoff – CEO of Ring – joined the tank as a guest Shark five years after his initial appearance as a contestant, now the CEO of one of the most successful security companies on earth, and a certified billionaire in his own right.

If you liked it, then you shoulda put a ring on it. 

Disclaimer: The information provided in this article is strictly informational; INSIGNIA SEO is not affiliated with Doorbot, Ring Doorbell, SharkTank, or any of its subsidiaries.

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HoneyfundShark Tank

Honeyfund: Shark Tank Updates in 2020

by Molly Morrow
written by Molly Morrow

The Basics

  • Company: Honeyfund
  • Owner: Sara and Josh Margulis
  • Product: Honeymoon registry service
  • Asking Price: $400,000 for 10% equity
  • Final Deal: $400,000 for 33% transaction revenue until 3x investment recouped
  • Shark Who Took The Bait: Kevin O’Leary
  • Season/Episode: Season 6, Episode 6

Honeyfund Before Shark Tank

Josh and Sara Margulis are a beautiful married couple from Sebastopol, California (aka Sonoma wine country) who founded Honeyfund, the free honeymoon gift registry.

Both aspiring entrepreneurs when they met, they founded the Honeyfund site to fund their own wedding and honeymoon, originally – but when they saw how successful it was and how much their wedding guests raved about the idea, they knew they had hit on something big.

Honeyfund On Shark Tank: A Quick Recap

Josh and Sara take the stage dressed like – you guessed it – a newlywed couple on their honeymoon, replete with Hawaiian t-shirts and flower leis around their necks. They look sun-kissed and glowing, and confident enough to ask for $400,000 in exchange for 10% equity in their company, Honeyfund.  

The idea behind Honeyfund is brilliant and long overdue: a free, unique wedding registry where couples can raise funds for their dream honeymoon, using donations as wedding gifts. Their entire honeymoon, essentially, becomes their wedding gift, which is collectively paid for by individual guests. “We call this process crowd-gifting,” says Sara, and the sharks look highly impressed.

“Would you rather have a set of China, or a trip to China?” 

Instead of traditional samples, Sara and Josh pass out flower leis and Mai Tais in cutesy Tikki bar coconut cups.

honeyfund sharktank - Honeyfund: Shark Tank Updates in 2020

Somebody take away Kevin’s Mai Tai before he gets belligerent.

Running the Numbers

“We’d like to propose a toast!” The sharks and contestants all raise their coconut cups in a toast to cash flow, as the show heads into the numbers segment.

  • Fundraising totals: $200 million
  • Revenue streams: Paypal transaction fees
  • Annual sales: $67 million in transactions
  • Income from annual sales: $987,000
  • Profit from annual sales: $219,000

Kevin points out here that this business raises the essential, age-old question of customer-acquisition cost (CAC). Sara explains that every wedding registry account invites an average of 150 wedding guests, so their exposure and brand visibility automatically expands with each new registered couple.  On average, she says, their customer acquisition cost is $0.88 cents per customer, and their average value per customer is $9.

These numbers might sound great to the layman, but Mark Cuban is skeptical.

As Cuban explains, putting half a million dollars in the bank for themselves, as a couple, is phenomenal. But it’s not necessarily investable. He wants to know what the long-term plan is and how they intend to grow. “Because, to be honest, to be in business ten years and do $987,000 in gross revenue is horrible.”

“It’s been a lifestyle business up to this point, but of course – we’re here because there’s more,” says Sara.

People eventually began using honeyfund for things other than weddings and honeymoons. The couple took this idea and ran with it, creating Plumfund. Plumfund lets users crowdfund anything, online, for free.

“Hang on,” says Robert. “So…your answer to expanding Honeyfund…is to do…another fund?” 

“Our answer is to do a whole portfolio of funds,” says Sara, with a click of the television display – revealing an entire family of other crowdsourced websites.

“Ugh,” says Cuban, clearly disgusted with the expansion concept.

honeyfund on sharktank sara josh - Honeyfund: Shark Tank Updates in 2020

Sara and Josh, unruffled by Cuban’s criticism.

As the camera pans to the display, we can see an array of future funds or fund concepts, including:

Kevin digits into Plum Fund a little deeper to get an idea of the likelihood of success for these other, future funds. Over the course of 12 months, Plum Fund has generated $400,000 in transaction sales and $10,000 in revenue.

When the sharks say that it’s clearly a great idea but that they’re not totally sold, Sara takes the presentation in yet another direction. “I’ve got another idea,” she says, and a new slide appears on the television display. “Fondo de Miel.” (That’s Spanish for Honeyfund.) “There are 53 million Spanish speakers in the United States alone,’ she says. This could double our business over the next few years. 

The Bidding

Lori is first to drop out, though she praises their idea to expand into other countries and capture the Spanish-speaking market. “I think crowdfunding is crowded. For that reason, I’m out.”

Kevin seems interested, but it still obviously skeptical. “If I fund you today, how do I get my $400,000 back?” Sara responds that they’re planning on scaling the business quickly, over five years, and come to dominate the crowd-gifting space.

“Guys, just what you said right there, does not make sense,” interjects Cuban. “There’s no such thing as scaling quickly over five years. By bringing in all these other options, you’re saying you’re not dominating the space you’re supposedly already dominating.”

“We already do dominate this space – we have 30% market share in this space.”

“You’ve got a nice little business, and again, bravo,” says Cuban. “But when a business starts looking everywhere else, it suggests to me that it’s on autopilot. If it was growing so fast, and becoming so profitable, you’d be telling us you need this capital just to keep up with it. But that’s not what’s happening here. For that reason, I’m out.” And with that, Cuban is out.

After Cuban and Lori drop out, the Honeyfunders receive three offers in rapid succession from the other sharks.

First, Robert Herjavec offers $500,000 for 50% equity. He says they’ve done a phenomenal job creating transaction value, and that transaction value is where they should focus (not on brand extensions). 

Next, Kevin proposes a more complex, “Mr. Wonderful”-style deal: $400,000 with no equity interest in return for one-third of their transaction revenue until he recoups $1.2 million (or three times his original investment).

Last, Barb Shark jumps in to undercut Robert, offering $400,000 for 30% equity. Robert quickly tries to match her, but to no avail.

After running the numbers on stage, Sara and Josh agree to Kevin’s terms.

Final Deal: $400,000 for 1/3 transaction revenue until $1.2 million recouped

Honeyfund After Shark Tank: Where Are They Now?

So just how successful was this appearance, and what has Honeyfund been up to lately? Well, let’s start with the immediate repercussion of this episode. On the night that Honeyfund debuted on Shark Tank, their average daily visitor count skyrocketed from 150 to 5,000.

That growth has since leveled out, but the company still sees an average of 45% more web traffic than they did prior to their appearance on Shark Tank. 

Since their appearance on Shark Tank, they’ve processed $514 million in gifts. They’ve branched out into travel giftcards and are partnering with retailers to create universal gift registries, so that travel or experiential packages are no longer the only thing a wedding guest can fund via someone’s Honeyfund page.

While their other sites they envisioned – the various ‘funds’ like Babyfund and Gradfund, etc – have all been umbrellaed under  Plumfund, which has sextupled in size since the couple appeared on Shark Tank. 

And of course, since every true success story is now reflected and amplified through social media, it goes almost without saying that the Honeyfund Instagram account is massively popular, with more than 5,000 followers, while the Honeyfund Facebook page boasts more than 24,000 fans and followers.

They’ve received glowing writeups in The New York Times, Vogue, BRIDE magazine, and countless other media outlets.

In short, Honeyfund was a smashing success, and their appearance on Shark Tank was one of the best decisions they’ve ever made. Years of hard work and months of rehearsing their presentation paid off more than the couple ever imagined.

For Honeyfund, it seems, dreams really do come true.

Disclaimer: The information provided in this article is strictly informational; INSIGNIA SEO is not affiliated with Honeyfund, SharkTank, or any of its subsidiaries.

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