If you're a fan of Shark Tank, then you know that the show is all about giving entrepreneurs a chance to make their dreams come true, and find the right investors.
Some of the biggest successes on the show have been companies that offer innovative products and services.
In this article, we will take a look at some of the most successful Shark Tank businesses to date. We'll examine how they've grown since appearing on the show, and find out what makes them so successful.
Top 5 Shark Tank Companies
Before we dive in, let's take a look at the top five shark tank companies. We will be looking at how they compare in terms of product offerings and how much they've grown since their Shark Tank deals.
Bombas is a pay-it-forward type of company. For every purchase you make, they donate an item to the homeless. The Shark Tank investors did not take it easy on this company but they did receive one offer from Daymond John.
The two co-founders (David Heath and Randy Goldberg) came onto the show seeking $200,000 for a 5% equity stake and left with the requested $200,000 but gave up 17.5% equity.
Products they offer: Socks and other apparel
How they have grown: 225 million in revenue (Oct 18, 2021) compared to $450,000 in sales since their appearance on the show in September 2014.
As you can see, they have grown substantially. This can be attributed to their product diversification as they offer many types of clothing beyond just socks.
They are also suitable for men, women, and even babies. Bombas has licensed clothing with major brands such as Disney and Sesame Street.
It's no question that Daymond John's connections within the licensing industry and experience as an apparel brand owner (FUBU) have helped the company grow. They may have given up more equity than they originally wanted, but it looks like the minor tradeoff has resulted in a major payoff.
2. Scrub Daddy
Aaron Krause ventured into the Shark Tank seeking $100,000 for a 10% stake. Scrub Daddy is an innovative approach to reinventing regular sponges. It caught the attention of all the Shark Tank investors, especially Daymond John, Lori Greiner, and Kevin O'Leary. It was a fun bidding war between the sharks but Lori ended up getting the deal with a 20% stake for $200,000.
Products they offer: Sponges, Scouring & Erasers (over 30 cleaning products total)
How they have grown: Scrub Daddy is now sold in over 60,000 retail stores in the United States and around 3000 in Europe.
The decision to go with Lori Greiner was a good one because of her connections with infomercials through QVC. Her audience is the perfect customer avatar for this product. In the end, Aaron Krause gave up twice as much equity as he was hoping for but also received twice as much as an initial investment.
3. Squatty Potty
Bobby Edwards and his mother Judy walked onto the set seeking $350,000 for a 5% share of the company. Similar to the last deal Lori Griener got twice the amount of equity at 10% but did not have to offer any more money than the original offer of $350,000.
Products they offer: Stools and fragrances
How they have grown: They sold 2.7 million worth of their product in the first 2 quarters of the year when they first appeared on Shark Tank. They have done $175,000,000 in sales since their deal with Lori Greiner.
4. Simply Fit Board
The simply fit board is a simple exercise tool that works the obliques and abs. Linda Clark and Gloria Hoffman is a mother-daughter duo that walked into the shark tank seeking $125,000 for 15% equity. Again it was Lori Griner that scooped up the deal, except at a 20% equity share rather than 15%.
Products they offer: Exercise boards
How they have grown: They have made $96 million in just 15 months after their deal with Lori Greiner on Shark Tank. That's huge growth with one of the founders starting with just $52 in her bank account when she appeared on the show.
5. The Comfy
Brian and Michael Speciale are two brothers that came into the Shark Tank seeking $50,000 in exchange for 20% of the company. Although they loved the presentation, many of the sharks had problems with this company as an investment because of the small profit margins. The deal ended up being for 30% rather than a 20% equity stake and was offered by Barbara Cohen.
Products they offer: Unique apparel that is like a blanket and hoodie
How they have grown: When they went on the show, they had $0 in sales and after the deal, within 5 weeks they hit their first 1 million dollars. After their first year, they hit $15 million in sales.
11 Notable Mentions
- Kodiak Cakes
- Safe Grabs
- Ring Video Doorbell
- Sleep Styler
- Tipsy Elves
- Cousin Maines Lobsters
- Stasher Bags
- Grace and Lace
What company has made the most money on Shark Tank?
The biggest ROI on the list is Squatty Potty with a return of $175,000,000 from a $350,000 investment. While it's difficult to determine which company has made the most money on Shark Tank, we can take a look at some of the most successful companies that have appeared on the show.
Some of the most successful companies include Scrub Daddy, Squatty Potty, and Simply Fit Board. These companies have all seen major growth since appearing on Shark Tank and have made millions of dollars in sales.
What was Shark Tank's biggest deal?
The biggest deal ever made on Shark Tank was for Squatty Potty, which sold a 30% stake in the company for $350,000. This deal has resulted in massive growth for the company, with sales reaching over $175 million since appearing on the show.
What is the most successful Shark Tank product to date?
The most successful Shark Tank product to date is without a doubt Scrub Daddy. The company has seen massive growth since appearing on the show and has made over $100 million in sales.
Who is the most successful investor on Shark Tank?
Lori Greiner is by far the most successful investor on Shark Tank, with multiple millions of products between her companies.
She is also known for negotiating for more equity which has helped her investments be very lucrative. Lori has been a part of some of the biggest shark tank successes, including Squatty Potty, Simply Fit Board, and Scrub Daddy.
While there have been many successful companies that have appeared on Shark Tank, these are some of the biggest successes in terms of money made, largest deals, and most successful products. Shark Tank has changed the landscape of entrepreneurship and investing, and we can't wait to see what the next big thing will be.