Top 10 Products That Were Introduced On Shark Tank and Went on to Make Millions
Befriending The Sharks
If you're into business reality shows, then there's a good chance that you're no alien to ABC's Shark Tank. A show where real business founders come and pitch their products to a panel of investors in the hopes of getting them to financially back their visions. In the 14 years of the show's running, Shark Tank has seen a zillion businesses come up with sometimes revolutionary products and then some products that get you to question "Why Will Anyone Need This?" Today, we are counting down the top products in the history of Shark Tank that successfully got the sharks to jump onboard their bandwagon.
1. Phone Soap
It's a smartphone charger that also sterilizes your phone. It kills 99.9% of the germs on the phone's surfaces as it charges. The unique charging case covers your phone completely in an enclosure of sorts and makes sure the phone is disinfected from every angle. The company claims that a regular phone contains 18 times more bacteria as compared to a public restroom. All these bacteria and other germs are killed by the product in under 10 minutes. The company has already done $150 million in sales and had gotten an investment from Lori Greiner who poured in $300,000 for a 10% stake in the company.
2. Sleep Styler
This product is a go-to for many girls today. The heat-free hair rollers created from memory foam are designed to be used while you sleep. The invention also ensures that your hair gets styles without heat which is a win-win situation if you ask anyone. The product comes in many sizes that you can pick and choose from to style the way you like. The company has made a whopping $100 million in sales and was backed by Lori Greiner who invested $75,000 for a 25% stake.
3. Tipsy Elves
The Brand claimed that they make the best ugly Christmas sweaters. The holiday-themed apparel company sells sweaters along with other holiday-themed items directly or through third-party apps. While the owners originally wanted to create only Christmas-themed clothes, they now sell a variety of apparel for all kinds of occasions. The company has already done $125 million in sales and was backed by Robert Herjavec who invested $100,000 for a 10% stake.
4. Squatty Potty
According to WebMD, X-rays have proven that when one squats the rectum straightens out. A stool that is designed to be placed on the floor in front of the person sitting on the toilet, will help them raise their legs and go into a squat position that will help the bathroom businesses become smoother and quicker. The company has done $175 million in sales and was backed by Lori Greiner who invested $350,000 for a 10% stake.
5. The Comfy
A wearable blanket is a product that we didn't know we needed. Created by two brothers, the company was originally launched in 2017 and got its headstart on the show. The company claims that the wearable blankets that they make feel like a giant hug. The hoodie is available in all sorts of, fleece-lined, plush styles and designs and has inspired many others to make similar products. The company was backed by Barbara Corcoran who invested $50,000 for 30% of the stake.
6. Safe Grabs
The company makes silicon mats that can fit in your microwave, under plates and bowls and once you are done with the heating, you can easily pick up the brown or hot dish with the help of the mat and avoid burning your hand. The BPA-free and safe-to-use mat comes in a circular shape that makes it easier to fit in confined spaces and also holds the bowl or dish. The company has done around $5 million in sales and was backed by Lori Greiner who gave $75,000 for a 25% stake.
7. The Bouqs
An online flower retailer that is extremely eco-friendly and partners with eco-friendly flower farms and diminishes the middlemen between the growers and buyers which results in 80% less prices. The official site is filled with positive reviews. The buyers can also subscribe to their monthly plans for $44 a month. The company has done $100 million in sales and was backed by Robert Herjavec who invested in the company post the episode therefore the amount and the stake are not known.
8. Stasher bags
The eco-friendly food storing bags replaced regular plastic bags. The bags are made from food-grade silicone and come in a variety of shapes and sizes. A great alternative to plastic which comes with a pinch lock. The bags are extremely durable and are a small step towards a sustainable future. The company claims that only one Stasher bag keeps 260 single-use plastic bags out of the ocean. The company does an average of $12 million in annual sales and was backed by Mark Cuban who invested $400,000 for a 15% stake.
9. Scrub Daddy
One of the most famous products from the show is this smiley-shaped sponge that changes its stiffness depending on water temperature. The sponge becomes firm in cold water and soft in warm water. The double-sided edge of the sponge is designed to make scrubbing utensils very easy. There is no denying the fact that this is one of the most successful products in the history of Shark Tank. The company has done $209 million in sales and was backed by Lori Greiner who invested $200,000 for a 20% stake.
A comfortable sock brand with good intentions in heart. The company pledges to donate a pair of socks to homeless people every time somebody buys a pair. The founders of the company found out that socks are one of the most needed items at homeless shelters and decided to do something about it. The sharks were skeptical about their business model but were eventually backed by Daymond John who invested $200,000 for a 17.5% stake and now the company has already done $225 million in sales.
More from MARKETREALIST