They Made a Deal on Shark Tank – But What Happened Next?
Many entrepreneurs dream of raising money from famous investors like Mark Cuban or Barbara Corcoran. It’s one of the reasons Shark Tank is so popular. But little do people know, a lot goes on after the Sharks say “yes”. There are even full blogs, like Sharkalytics and SharkTankBlog, dedicated to tracking these companies. It can be crazy to see how things go when the cameras turn off.
In particular, it’s interesting to if businesses are, well, still in business. A lot of people assume that once you raise venture capital investor money, you’re set for life. But that’s not the case at all. Sometimes businesses don’t succeed because of other reasons. Sometimes the deal even falls through after they said yes on camera. Or, as you’ll see, sometimes things happen to the founders themselves and they choose to abandon the business. Anything is possible.
From failed investments to businesses disappearing, we’ve rounded up some of the most interesting businesses based on data from Sharkalytics – and looked into what happened after the founders made a deal with the Sharks.
Bottles on bottles
Company: The Clean Bottle
Industry: Water bottles
What the company does: A water container that unscrews from the bottom as well as the top for ease of cleaning.
Who pitched the Sharks? Dave Mayer
Season and episode they were on: Season 3, Episode 1.
What the founders asked for:
Asked for: $60,000
In exchange for: 5% equity stake
Implied valuation: $1,200,000
Deal they got on Shark Tank:
Investment received: $60,000
In exchange for: 8% equity stake
Implied valuation: $750,000
Shark(s) that went in on the deal: Mark Cuban
Company status: MIXED.
BicycleRetailer.com reported that the company was looking to be acquired in 2018, but recent news suggests that whatever the outcome, the company is running successfully.