When it comes to inspiration in the world of product development, it seems like the best sources are successful businesses that worked their way to the top. A lot of these businesses have surprisingly started on a TV show that on average has 4.4 million viewers an episode- Shark Tank. Here are a few popular products that you have probably seen in stores or even use them yourself that you probably didn’t know started on Shark Tank.
Bombas
Bombas is a sock company that donates a pair of socks to the homeless for every pair that is sold. The company came onto the show in 2014 with a $1,000,000 evaluation. Shark Daymond John invested $200,000 for a 17% stake in the company. Today the company is at $225,000,000 in sales after 7 years.
Scrub Daddy
Scrub daddy is a company that sells a smileyface-shaped reusable sponge that gets firm in cold water and soft in hot water. The first of its kind sponge shape
is designed to make washing utensils easier and clean them better than an average dish sponge. The company came onto the show in 2012 with a $800,000 evaluation. Lori Greer invested $200,000 for a 25% stake in the company. Today the company is at $209,000,000 in sales, after only having $100,000 in sales while on the show.
Squatty Potty
Squatty Potty is a small, plastic foot stool that is designed to sit at the front of your toilet designed to help with bowel movements. The company came onto the show in 2013 with a $3,500,000 evaluation. Lori Greer invested $350,000 for a 10% stake in the company. Today the company has $164,000,000 in sales.
The Comfy
One of my favorite shark tank products, The Comfy, is an oversized hooded blanket that allows users to be comfortable at any time, no matter what they are doing. The company came onto the show in 2017 with a $250,000 evaluation. Shark Barbara Corcoran invested $50,000 for a 30% stake in the company. Today The Comfy has $150,000,000 in sales.
Were You Shocked?
We know that there are a ton of product categories, but hopefully this will give you some insight that success reaches a variety of categories. Did we miss any products that you think should’ve been on our list? Want to discuss your product so you can be on Shark Tank one day? Fill out our contact form and let’s get the conversation started! Want to read more about successful Shark Tank products? Check out this article by Investopedia.
