Shark Tank is among the most popular reality TV shows on ABC, showcasing entrepreneurs pitching their business ideas to investors. Most businesses have struggled to survive but some unlikely products have become huge success stories. Below we cover the top ten most successful companies, taking into account lifetime revenue and recent valuations.
Top 10 Most Successful Shark Tank Companies
Athletic socks have seen a number of innovations thanks to Bombas. However, the apparel company is best known for its philanthropic efforts, donating a pair of socks for every item they sell.
Startup experts David Heath and Randy Goldberg thought of starting a sock business after discovering socks are the most requested clothes in shelters. They entered the Tank in season six, looking to get $200,000 for 5%.
Daymond John agreed to invest $200,000 for 17.5%. Today, Bombas make an estimated $100 million in annual revenue and have done $1.3 billion in retail sales! The firm claims to have made over 100 million donations according to its official website.
2. Scrub Daddy
Scrub Daddy is arguably the most memorable product to appear on the show. The iconic smiley-face sponge can soften or harden based on the water temperature.
Founder Aaron Krause has been an inventor since childhood, but he came up with the multi-purpose sponge by accident. He popped up on season four asking Sharks to invest $100,000 for 10% of the product.
Many Sharks fought for the deal, but Lori Greiner came out on top with an offer of $200,000 for 20%. The Queen of QVC has helped Scrub Daddy reach more than $926 million in lifetime sales. Thanks to Scrub Daddy’s success Krause is worth an estimated $70 million.
3. Doorbot (Ring)
Ring’s wifi video doorbells are now commonplace in millions of houses across America. Before this, the company appeared on season five of Shark Tank under the name Doorbot, seeking $700,000 for a 10% stake.
Serial entrepreneur Jamie Siminoff invented the product and Kevin O’Leary was interested but couldn’t reach a deal as Siminoff didn’t want any debt.
No Sharks invested but Ring later became a massive success, reaching $415 million in annual revenue in 2017. In 2018, Ring was acquired by the e-commerce giant Amazon for $1.2 billion.
Everlywell offers 30+ at home lab tests through licensed providers. Giving you actionable information and easy access to online healthcare.
Julia Cheek revolutionized home-health testing by creating a platform where people can order a test kit, provide samples, send them to a partner lab, and review the results online. Cheek featured on season nine of Shark Tank and asked for $1 million for 5%.
Her valuation was much higher than other pitches, but Lori Greiner took the risk. The gamble paid off tremendously, according to Bloomberg Everlywell made around $200 million in annual revenue for 2020, and is valued at $2.9 billion.
Plated is regarded as a pioneer in the meal kit subscription business. The business model involves delivering pre-packaged fresh meals with chef-prepared recipes to subscribers.
Harvard Business School graduates, Nick Taranto and Josh Hix believed they could take food delivery to the next level. In season five, the two gentlemen requested $500,000 for 4% equity.
Mark Cuban made a deal of $500,000 for 6%, but it never closed. Kevin O’Leary then made an off-screen agreement with the founders. Kevin helped the startup scale its operations quickly to overcome competition and Plated was purchased by Albertsons for $300 million in 2017.
6. The Comfy
As the name suggests, The Comfy’s oversized sweater blankets are made for comfort. They are often compared to Snuggies, but they have a pocket and use a different material.
When they were about to launch a Kickstarter campaign, entrepreneur brothers Michael and Brian Speciale realized that their product wasn’t ready. So, they canceled it and instead featured on season nine seeking $50,000 for 20%.
Despite not having any sales or started production, they got a deal with real estate mogul Barbara Corcoran: $50,000 for 30%. Currently, The Comfy have done $550 million in total revenue.
7. Tipsy Elves
Tipsy Elves is one of the more bizarre companies to appear on Shark Tank. They are notorious for making holiday sweaters featuring funny to straight-up absurd designs.
Nicklaus Morton, a dentist, and Evan Mendelsohn, a lawyer, started the business as a side hustle. After seeing that it had high margins, the pair went to the Tank in hopes of getting $100,000 for a 5% stake in their startup.
Robert Herjavec jumped into the wild business idea and even agreed to their initial offer. He didn’t regret though, as Tipsy Elves is now earning $6 million per year, with a valuation of $20 million. Total retail sales now stand at $317 million.
8. Squatty Potty
It may come as a surprise to many but one of the most successful products on the show is one made for defecating. The Squatty Potty is a footstool that helps you get in the right position while pooping.
Family man Bill Edwards invented the squatting stool to help his wife, Judy, when she suffered from hemorrhoids and constipation. Judy decided to take the product to the Sharks, offering 5% of the business for $350,000.
Lori Greiner proposed $350,000 for 10%, and they secured the deal. In 2021, the company was acquired by Aterian for $31.1 million. Lifetime sales have reached over $260 million, and Squatty Potty is worth an estimated $50 million.
9. Sunniva Super Coffee
Sunniva Super Coffee is promoted as a healthy replacement for energy drinks and traditional coffee. It contains lactose-free protein, pure Colombian coffee beans, and organic coconut oil.
The coffee product was created by another set of brothers: Jake, Jordan, and Jim DeCicco. They are all collegiate football players who disliked common sports drinks. The brothers joined the show in season nine, looking for $500,000 for a 4.5% stake.
Sadly, most of the Sharks didn’t like the taste of their product, so they walked away without a deal. The trio worked on their own to reach $55 million in revenue, with a valuation of over $200 million.
10. Simply Fit Board
The Simply Fit Board is a basic training board that works your core by making you maintain balance as you twist while standing on it. It’s simple but has proven to be effective.
The brains behind the exercise equipment are Gloria Hoffman and Linda Clark. Though the brand was already set up nicely, the two still wanted help from the Sharks, proposing $125,000 for 18% on season seven of the series.
Lori was the Shark that bit and closed a deal at $125,000 for 20%. The investment helped Simply Fit Board get into over 50,000 retail stores and generate over $170 million in lifetime sales.