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On this morning’s WJR Business Beat, we’re featuring the list of the top five most successful products that have been funded and launched on the hit TV show, “Shark Tank.”
The investments include:
- Scrub Daddy, backed by Lori Greiner, with $50 million in sales
- Squatty Potty, backed by Lori Greiner, with $33 million in sales
- Tipsy Elves, backed by Robert Herjavec, with $50 million in sales
- Groovebook, backed by Mark Cuban and Kevin O’Leary, sold to Shutterfly for $14.5 million shortly after the investment
- BuggyBeds, backed by all five sharks (Kevin O’Leary, Robert Herjavec, Mark Cuban, Daymond John and Barbara Corcoran), with $1.2 million in sales
Tune in to the WJR Business Beat to learn more about each business:
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“So, who knows? Maybe one day you’ll be in front of the sharks on Shark Tank and you’ll be the next company taking the top spot in the list of most successful investments made by the sharks.”
– Jeff Sloan
Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen live HERE.
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WJR Business Beat Transcript
Paul, to get our week off to an inspiring start today, we’re featuring the list of the most successful products that have been funded and launched on the hit TV show, “Shark Tank.”
You know the show: entrepreneurs pitch their ideas in front of a tough audience of shark investors, who are either going to embrace the idea and invest in it, or they’re going to beat it up and send the entrepreneur who pitches the idea back home with his or her tail between their legs, whimpering all the way.
So, here’s the list, coming in at number five: Buggy Beds. Buggy Beds was backed by all five sharks: Kevin O’Leary, Robert Herjavec, Mark Cuban, Daymond Johns and Barbara Corcoran. They all got in and they had sales in 23 countries and more than $1.2 million right after the shark tank pitch.
Moving on to number four, Groovebook. Groovebook is a subscription-based service that allows customers to receive a bound book of high-resolution photos taken from their smartphones. Investors from the tank include Mark Cuban and Kevin O’Leary. They put up $150,000 for an 80 percent licensing right to the profits. And listen, this one sold to Shutterfly for $14.5 million shortly after the investment was made.
Number three: Tipsy Elves. Tipsy Elves is a holiday themed apparel product, Robert Herjavec got in for $100,000, and get this: sales have been over $50 million in total revenue generated.
Number two, Squatty Potty, a personal care company best known for its toilet stool. Lori Greiner got in $350,000. They’ve had over $33 million in sales
And coming in at number one, it’s Scrub Daddy, Lori Greiner again. The product a reusable, super sponge in the shape of a smiling face that gets firm in cold water and soft in warm water. Before you laugh, listen, over $50 million in sales from this one.
So look, if tens of millions in sales can be generated from products like Scrub Daddy, you can do it too. But you can’t make money from any idea unless you pursue it.
So, who knows? Maybe one day you’ll be in front of the sharks on Shark Tank and you’ll be the next company taking the top spot in the list of most successful investments made by the sharks.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today Business Beat on the Great Voice of the Great Lakes, WJR.
The post WJR Business Beat with Jeff Sloan: Most Successful Shark Tank Investments (Episode 98) appeared first on StartupNation.