Shark Tank is a business reality television show in which entrepreneurs pitch their business ideas or startups to a panel of wealth. If the “sharks,” the investors, are interested, they will invest in the company. Shark Tank began premiering in August 2009 and still streams on several popular broadcast channels, such as ABC. Shark Tank consists of a core group of six “sharks,” Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O'Leary. Several startups have been helped and supported by Shark Tank to achieve success. Many innovative products have gained popularity as a result of Shark Tank.
Here are some of the most innovative products featured on Shark Tank:
EverlyWell is one of Shark Tank’s most successful companies and currently values at approximately 3 billion dollars. EverlyWell received a $1 million loan from Lori Greiner for 5% equity of the company during its appearance on season 9 of Shark Tank. The EverlyWell company offers at-home lab tests in various areas, including food sensitivity and metabolism. EverlyWell tests are sold online and in-store at Target, CVS, and more locations. EverlyWell has made tests accessible and convenient for customers. It has made receiving a test, such as a metabolism test, easier for consumers.
Scrub Daddy is also one of Shark Tank’s most successful and innovative products, currently valued at around 300 million dollars. Scrub Daddy received $200,000 for a twenty percent stake in the company and was featured on Shark Tank season four. The Scrub Daddy company’s product is a reusable sponge in the company’s iconic shape of a smiley face which gets firm in cold water and soft water. Additionally, the Scrub Daddy has been lab-tested to rinse all debris and resist odors for up to two weeks. Furthermore, the efficient shape of the sponge is designed to clean both sides of kitchen utensils at once. Scrub Daddy has made cleaning products such as utensils an easy and efficient process for customers.
Bombas is another phenomenally successful company featured on Shark Tank with an innovative product. Bombas featured on season 6 of Shark Tank, where Daymond John invested $200,000 for a 17.5% stake in the company. The Bombas company offers socks specially made for people who live an active lifestyle. The socks are created with moisture-wicking material that assists with keeping feet dry. Additionally, the socks' heel and toe are reinforced for durability. Moreover, the company recently began to sell shirts for athletes. Furthermore, the company donates one item per item sold to help the homeless. Bombas has created a new line of socks and shirts for those who live an active life. Athletes now have a more comprehensive selection of clothes to choose from for their wardrobe. The material that the apparel is made with has changed the activewear field.
To stop the use of plastic, many people have switched to using reusable water bottles. The problem with this change is the cleaning of these reusable bottles. In a study conducted by WaterFilterGuru of Denver, Colorado, reusable water bottles hold 40,000 times more bacteria than toilet seats. The LARQ company was featured on an episode of season 12 of Shark Tank, in which they received $1 million for a 4% equity from sharks, Lori Greiner, and Kevin O’Leary. This company has created a solution to the hygienic issue that comes with utilizing reusable water bottles. LARQ offers a self-cleaning stainless steel water bottle that uses UV light to clean the bottle and purify the water inside. Additionally, the company donates a portion of the purchases to WellAware, a nonprofit that brings substantial solutions to water scarcity and offers clean water to many communities that face water scarcity. As of 2023, LARQ is currently valued at fifty million dollars. LARQ has created an efficient solution to plastic water bottles and the cleanliness issue which often comes with reusable water bottles.
Shark Tank has resulted in the acknowledgment and popularity of innovative products and led to the success of the companies. These are some of the ingenious products that have gained popularity after appearing on Shark Tank.