Celebrity

15 rejected shark tank holes made millions

We are seeing a lot of new startups these days, and all these startups with innovative ideas need an investor to support them. Many startups looking for investors come to Shark Tank where celebrity entrepreneurs invest in the growth of startups. Many lucky startups get the investment they want, but many startups walk off the stage empty-handed. Surprisingly, even after being rejected, some startups appearing on TV generated massive sales afterward. Let’s take a look at 15 rejected Shark Tank pitches that have managed to make millions.

Chef Big Shake: A shrimp burger invented by the father for his daughter.

15 rejected shark tank holes made millions
Image credits: blackeoejournal.com, shopbigshakes.com

The story of Chef Big Shake Company began when the 10-year-old daughter of founder Shaun Dawes came home from school announcing that she would no longer eat meat. That was when he started making seafood burgers and later started selling them in grocery stores and restaurants.

On March 20, 2011, Dawis appeared on Shark Tank with his shrimp burger idea. He put forward his idea to invest $200,000 in exchange for a 25% equity stake. However, the Sharks were not confident in the product and declined its offer. Some other investors who saw the show contacted Doyce and offered $500,000. Within a year, Chef Big Shake sales had grown from $30,000 to $5 million. Today, Chef Big Shake has started franchising.

Copa Di Vino: A wine company that sells wines by the glass.

15 rejected shark tank holes made millions
Image credit: bizjournals.com

The unique idea for bottled wine was conceived by the founder of Copa Di Vino, James Martin when he was on a trip to France. He realized it was an easy way to get drunk and an untapped business idea that could do great in the United States. He appeared on the second season of Shark Tank looking for a $600,000 investment in exchange for a 30% equity. He didn’t sell the deal, but he caught the attention of potential investors. He got a show from Shark Tank, which led to an increase in sales. Today, Copa Di Vino’s net worth is over $70 million.

Coffee Meets Bagel: A dating site that offers people discounts on food when they decide to meet their dating match.

15 rejected shark tank holes made millions
Image credit: Shark Tank production house

Coffee Meets Bagel is a dating site with a flirty twist. People can find their suitable match on this dating site, and they get a discount on food when they decide to go out on a date with their dating match.

15 rejected shark tank holes made millions
Image credit: Coffee Meets Bagel

The app was launched on April 15, 2012, by three sisters Arum, Dawoon, and Soo Kang. Aiming to expand their business, these sisters appeared on Shark Tank in 2015. They asked for an investment of $500,000 in exchange for a 5% stake. The Sharks were so impressed that one of the Sharks, Mark Cuban, offered them $30 million for the entire company. However, the Kang sisters walked away from the show. After getting wide exposure from the show, they secured $23.2 million in financing. Today their app works globally.

MealEnders: A weight loss product that reduces food cravings.

15 rejected shark tank holes made millions
Image credit: 2paragraphs.com

The most important mantra to reduce your waistline is to stop yourself from eating. Mark Bernstein realized this and decided to create a product that works on both the mind and the mouth to curb food cravings. With the help of a leading food development company, MealEnders was invented. It was a weight loss pill that worked in two ways. The outer layer of the product is sweet, which will send a signal to the brain to stop eating. This means that the meal is over. The inner layer stops the urge to continue eating.

Bernstein appeared with his game-changing producer on Shark Tank. Investment request of $350,000 for 8% equity. Unfortunately, he left the show without a deal but ended up selling $400,000 worth of products in just three days. Within a year, MealEnders sales had increased to over $5 million.

Nerdwax: An organic formula that goes over the pads of your eyeglasses to keep them in place.

15 rejected shark tank holes made millions
Image credits: bustle.comwilliamsonallemond.com

Nerdwax is a company that sells an organic, skin-friendly formula to put on the pads of your eyeglasses to keep them in place. The product is great for people who are annoyed with their glasses always slipping off their noses. The company was founded by Don Higney and his wife. The couple appeared on Shark Tank to showcase their product. Two Sharks offered them two deals, but they refused and walked off the stage. When the episode aired, the $10 tube of Nerdwax became popular, and they racked up $150,000 in sales in less than 72 hours.

Rocketbook: A digital notebook that can be reset by microwaving.

15 rejected shark tank holes made millions
Image credit: 2paragraphs.com

Jake Epstein and Joe Lemay arrived at Shark Tank with a revolutionary idea on their hands. They came up with their product, Rocketbook, which sells smart paper, notebooks, and pens. Allows users to access their notes online. They had two price ranges on their books. First up was the Rocketbook Everlast ($34). If you write anything in the notebook with a pen from the Pilot Frixion line, it can be wiped off with a damp cloth.

The second price range was the Rocketbook Wave ($27), which erases notes when placed in the microwave. However, the sharks saw no business opportunity with the reusable product. Later after the episode aired, Rocketbook reported earnings of over US$10 million and became an Amazon bestseller in November 2016.

BedJet: A device designed to relieve the discomfort of being too cold or too hot in a bed.

15 rejected shark tank holes made millions
Image credit: business insider.in

Former NASA engineer and BedJet founder Mark Bramley have developed a device that can manage the heating and cooling of your bed. It is a climate comfort system designed for beds to relieve the discomfort of being too cold or too hot in bed. In 2015, Aramly appeared on Shark Tank seeking $250,000 for a 10% stake.

All five Sharks decline the offer and tell him his product is doomed. However, BedJet attracted interest from potential buyers and made $3 million in its first 18 months on the market. By 2020, the company has sold more than 100,000 units and launched additional products.

First Defense Nasal Screens: Lightweight nasal screen reduces inhalation of allergens.

15 rejected shark tank holes made millions
Image credit: sharktankblog.com

First Defense Nasal Screens CEO Joseph K. Moore appeared on Shark Tank Season 2 asking $500,000 for 10% of the company. The company made lightweight nasal air filters that reduce inhalation of allergens, pollen, and pollution.

Before appearing on Shark Tank, Moore had already sold 1.7 million units of Nose Screens worldwide and had an $8 million international contract. One of the sharks, Robert Herjavec, offered to buy the entire company for $4 million, but Moore rejected the offer. Today, the company has patents for its inventions in more than 50 countries.

Smart Baker: Sells bakeware to make cooking easier and simpler.

15 rejected shark tank holes made millions
Image credit: sharktankblog.com

Smart Baker co-founder Daniel Rensing has created an arena with a conversion chart at the bottom. To make his wife’s life easier, he ends up starting a new business selling food aprons to make cooking easier and simpler.

Daniel, along with his wife, Stephanie, appeared on Shark Tank asking $75,000 for 25% of their company. One of the sharks, Barbara Corcoran, offered $75,000 for 40% equity and 5% equity, which the duo refused. Within a year, the company’s revenue had grown to $600,000 in 2012 after the episode aired and nearly $1 million by March 2015.

Ring Video Doorbell: This product went from a Shark Tank rejection to an Amazon best seller.

15 rejected shark tank holes made millions
Image credit: geekwire.com

In Shark Tank Season 5, Jamie Siminoff came up with a unique idea for a caller ID for your door, a doorbell that allows users to see and speak to the person at the door through their smartphone.

Before his appearance, Jimmy already had $1 million in annual sales and seemed confident in his product. He put it up for investing $700,000 in exchange for a 10% equity stake in the company. He only received one offer from the Sharks, which he also turned down. After the episode aired, the Ring Video Doorbell was flooded with sales. Later, Siminoff renamed his brand Ring. In 2018 Amazon bought Ring for $1 billion, making it the most successful business that Shark Tank has ever turned down. Later, Jimmy Siminoff returned to Shark Tank as a guest Shark.

Spikeball: A two-on-two game similar to volleyball

15 rejected shark tank holes made millions
Image credit: Spikeball.com

Spikeball founder Chris Rudder along with his buddies tried to revive Spikeball, which was invented in the 1980s by a cartoonist named Jeff Knorik. In this game, two teams of two players hit a ball on a small circular trampoline and try to prevent the opposite team from returning it.

Spikeball already made $1 million in annual revenue when Ruder appeared on Shark Tank in 2015. He put it up and asked for $500,000 for a 20% stake, but walked off the stage empty-handed. Despite not getting the deal, Spikeball gained television exposure and earned $13 million in revenue in 2016.

Voyage-Air Guitar: A guitar that folds in half for easy portability.

15 rejected shark tank holes made millions
Image credit: Facebook.com

Voyage-Air Guitar founder Jeff Cohen had a goal to manufacture quality guitars that are accessible, portable, and can fit a fast-paced lifestyle. With his son Josh, Cohen launched Voyage-Air Guitar which sells full-size guitars that can be folded in half.

They already made $400,000 in revenue when they appeared on Shark Tank. The duo offered their products for $500,000 in exchange for a 5% equity stake. Kevin O’Leary offered them $500,000 for a 51% stake, but Cohen turned the deal down. The duo re-emerged the following season and finalized a deal with Kevin O’Leary. Today, the estimated net worth of the Voyage-Air Guitar is $10 million.

Eco Nuts: An eco-friendly and organic cleaning company

15 rejected shark tank holes made millions
Image credit: superfoodly.com

Eco Nuts’ founders, Mona Weiss and Scott Shields have always been keen to use eco-friendly products. When they struggled to find an organic laundry detergent, they decided to make one nut. They founded Eco Nuts, an eco-friendly and organic laundry detergent company.

While the duo was on track to make $250,000 in sales, they decided to appear on the fourth season of Shark Tank. They asked for $175,000 for 15% of the shares. They did not succeed in closing any deal, but the company benefited from the exposure. Within a year, Eco Nuts generated $1 million in revenue, and today they are sold in thousands of locations.

Lipbar: Selling vegan-friendly lipsticks made with natural, plant-based ingredients.

Everyone chooses vegan food, so why not also opt for cruelty-free cosmetics? Lipbar, a vegan-friendly company, was launched in 2012 by Melissa Butler. Butler started this company when she couldn’t find authentic vegan lipsticks and took the opportunity to make natural lipsticks at home. The company sells vegan-friendly lipsticks that are made with natural, plant-based ingredients.

Butler appeared on the sixth season of Shark Tank with her revolutionary brand, the Lip Bar. She applied to invest $125,000 in exchange for a 20% stake in the company. Each Shark declined the offer, but after the show aired, Butler offered her product to Target. The popular retailer, Target, now carries all of its Lip Bar products in its store, and today the company is valued at $7 million.

Xero Shoes: Gives the person the feeling of running barefoot.

15 rejected shark tank holes made millions
Image credit: xeroshoes.com

The idea for Xero Shoes came about when co-founder Stephen Sachin was injured while running. He switched to running barefoot and loved the experiment. He wanted to extend the barefoot running experience even on surfaces that required foot coverings.

Sashen and his wife, Lena Phoenix, created the Xero Shoes, which are lightweight shoes with a natural fit and feel and mimic the motion of barefoot. The couple appeared on Shark Tank with $800,000 in sales already. They put their shoes on for $400,000 for an 8% stake but were unsuccessful in getting any deal. In the end, the duo ended up raising $1 million through crowdfunding and still makes $13 million in annual revenue.

Smith

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