'Shark Tank' products: Sink or swim?
The first three seasons of ABC's Shark Tank resulted in deals for 76 entrepreneurs. Here's a look at three of the show's biggest hits — and one of its biggest misses.
Shark: Robert Herjavec invested $125,000 for a 20 percent stake in the guitar-learning system last season, then strummed up an additional $50K for an infomercial.
Results: Sales soared from $10,000 to $500,000 in two weeks, with overall sales now hitting $2 million.
Readerest Magnetic Glasses Holder: Swim
Shark: Lori Greiner offered up $150,000 for a 65 percent stake in the company.
Results: After debuting in the third season, the handy magnetized glasses clip shot from $65,000 in sales to $4 million in 15 months.
Tower Paddle Boards: Swim
Shark: Mark Cuban invested $150,000 for a 30 percent stake last season.
Results: Under Cuban’s guidance, the trendy stand-up paddle-board company went from $18,000 in sales to more than $2 million — all in less than eight months.
Sharks: Cuban and Kevin O’Leary bought a 35 percent stake in the children’s toy rental service for $200,000.
Results: Things fell apart due to management issues and not enough focus on sales. The company went under this year. Says Cuban: ”It should have been huge.”