In eight seasons, these are the five most profitable investments
Sharks — wealthy entrepreneurs looking for new products and businesses to invest in — get the job done on Shark Tank.
Coinage, Time Inc.’s personal finance video company, is rounding up the top five investments the Sharks have made in their eight-season run.
Each of the five Sharks invested in a proactive means of defeating the wrath of bed bugs, known, fittingly, as Buggy Beds. They split $250,000 for 25 percent equity. Buggy Beds is now sold in more than 23 countries around the globe and is estimated to have racked up $1,200,000 in sales last year.
Next up is Groovebook, a photo app that helps users to organize mobile photos into a scrapbook each month. This one was split by Kevin O’Leary and Mark Cuban who paid $150,000 for 80 percent of the licensing profits. Following an appearance on Shark Tank, Groovebook garnered close to 50,000 subscribers and, in 2014, was bought by Shutterstock for a whopping $14,500,000.
Tipsy Elves, of which Robert Herjavec now owns a 10 percent equity stake after having paid $100,000, is an ugly sweater distributor. Tipsy Elves raked in about $8 million in revenue last year alone.
Watch the video above to see what else made the list.