shark-tank-successes

Shark Tank: 7 biggest missed investments that went on to make millions

The products and services that the sharks missed their opportunity to invest in

Eve Crosbie

Having been on screens for more than ten years, Shark Tank has seen plenty of plucky entrepreneurs pitch their genius products and services in the hopes of securing investments from the likes of Mark Cuban, Lori Greiner and more.

MORE: Shark Tank: what are the sharks' net worths?

But what about the ones that walked away without a deal? Money.co.uk Investment has crunched the numbers, and here are the most profitable businesses that the sharks sadly missed out on investing in...

shark-tank-panel

Ring

Ring may be a household name now, but back in 2013 when it was pitched on the ABC show, it was going by the name of DoorBot. The smart home security system, which is now worth more than $1billion, sadly didn't impress the sharks, with only Kevin O'Leary putting an offer on the table. 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Ring (@ring)

He offered a $700,000 loan in exchange for the profit from 10 percent of all sales until the loan was paid off, a 7 percent royalty on all future sales, and 5 percent of the company's equity. Sensing it was a bad deal, founder Jamie Siminoff decided to walk away.

MORE: Shark Tank stars share shocking behind-the-scenes secret

Since then venture capital investors including Richard Branson have put over $100million into the business and in 2018, Amazon bought it for $1billion.

Coffee Meets Bagel

In 2015 sisters Arum, Dawoon, and Soo Kang appeared on Shark Tank asking for $500,000 in exchange for a 5 percent equity stake in their novel new dating app Coffee Meets Bagel, which rewards singletons with money off vouchers for food and drink. 

Although Mark Cuban made the largest offer in the show's history - $30million for the entire company - the sisters didn't want to give away the entire business and decided to leave the den without a deal. Following their time on the show, they managed to raise $23.2million, sign up 10 million users, and today the business is worth an estimated $15million.

Kodiak Cakes

Although Joel Clark was on the edge of bankruptcy when he appeared on Shark Tank in 2013 with his pancake mix company, Kodiak Cakes, he also made the decision to walk away from a huge investment offer.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Kodiak Cakes (@kodiakcakes)

The sharks offered $500,000 in exchange for 35 percent of the company, 20 percent more than he was willing to give away. It turned out to be the right decision, and now the company sells to huge retailers like Whole Foods, Target and Costco, taking more than $54million in revenue in 2017 alone. 

MORE: Shark Tank: meet the partners of Mark Cuban, Lori Greiner and more

The Bouqs company

When John Tabis entered the den in 2014, his company The Bouqs Company was brushed off as just another flower business, and his request of $258,000 for a 3 percent stake was rejected. 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by The Bouqs Company (@thebouqsco)

However, the farm-to-table flower delivery service got the last laugh as after the episode aired, they managed to acquire around $23million from investors. Since then, The Bouqs Company has racked up a huge $43million in sales, secured $55million in funding, and has grown to 80 employees.

Xero Shoes

Founders Steven Sashen and Lena Phoenix appeared on Shark Tank in 2012 with their invention Xero Shoes, flexible footwear designed to mimic the effect of running barefoot. 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Xero Shoes (@xeroshoes)

While sportswear entrepreneur Daymond John was left unimpressed, Kevin O'Leary offered to give the duo the $400,000 investment they asked for - but for a whopping 50 percent share in the company. Walking away without a deal was a hard decision, but looks like it was the right one! Xero Shoes achieved more than $12million in revenue in 2019 alone, making it one of the fastest-growing companies in America.

MORE: Shark Tank: How the Mark Cuban, Kevin O'Leary and more made their fortunes

Chef Big Shake

Shawn Davis appeared on the show back in 2011 with his business idea, Chef Big Shake, which offers healthier fast foods options, hoping for a $200,000 investment for a 25 percent stake of the company. The sharks ultimately decided to pass on the opportunity, saying it was too risky, leading Shawn to seek out investors elsewhere. 

Following his appearance on the show, he managed to get his products in more than 2,500 grocery stores across the US, but now the product line is reserved for restaurants only, and they even have their own chain of restaurants.

Spikeball

While Spikeball has been unofficially around for years, entrepreneur Chris Rude patented the game and brought it in front of the sharks in 2015. While he managed to secure a $500,000 investment from Daymond John in return for 20 percent share, the deal eventually fell through after a series of disagreements.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Spikeball Inc. (@spikeball)

Luckily for Chris, seven million people watched the Shark Tank episode and shot the game into popularity. As of 2018, the company’s annual revenue was a huge $15 million, according to Forbes.

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