Best 5 failed Pitches on Shark Tank that made Millions

It is clear from ‘Shark Tank’ that not everyone is suited for the business sector. It requires a lot of endurance, time, and money, obviously. But to be successful, you also need a brilliant idea and the ability to propose it to investors, or “sharks” as they are known on the show.

Many aspiring business owners who appear on Shark Tank leave disheartened after failing to impress the sharks. However, some businesspeople forge their own route in any case. Since the sharks aren’t always right, also being on the show is good advertising itself.

Here are five Shark Tank pitches that didn’t receive funding yet still produced millions of dollars later.

Chef Big Shake (Season 2, Episode 1)

Today, there is a burger to suit every taste: turkey, beef, veggies, vegan, shrimp, wait, what was that?

The Sharks were only concerned with the flavor and not the company’s value when chef Shawn Davis entered the Tank and suggested his idea of shrimp burgers.

Big Chef Shake came into the Shark Tank looking for a $200,000.00 investment for a 25% equity. Davis returned home to a hero’s welcome and a higher offer than what he had first requested from another investor.

Davis’s appetite for business hasn’t subsided as he currently sells his burgers in over 2,000 grocery stores and anticipates an increase of over $5 million in the near future.

CoatChex (Season 4, Episode 1)

Derek Pacqué, the company’s founder, said that it “transformed a nuisance into an opportunity.”

It was a bold move for the recent business school graduate to pitch his high tech coat checking system to the Sharks before he had even made a single sale, and as a result of rejections and a denied offer, he decided to leave.

The Super Bowl, Life in Color, and New York Fashion Week have all invested in CoatChex after the appearance on the program.

Coatchex is still in business with the new name Chexology as of June 2022. This company was fast to embrace the opportunity presented by the inconvenience.

DoorBot (Season 5, Episode 8)

This gadget, which was first known as the DoorBot, launched a new kind of smart-home security. It is a doorbell with a built-in camera that broadcasts video to your smartphone.

The concept gained other significant investors, such as Richard Branson, Goldman Sachs, and Qualcomm Ventures, after being rejected by the majority of the Sharks and having an offer rejected.

In February 2018, Amazon acquired Ring in a deal reported to be worth more than $1 billion. It’s fortunate he let opportunity in when it knocked.

Since then, the DoorBot app’s creator Jamie Siminoff has changed its name to the “Ring” app, and he has continued to grow and add new items to his collection.

Coffee Meets Bagel (Season 6, Episode 13)

It’s another dating site, as these sisters themselves stated. But the concept behind the app which lets users connect with potential dates through social media friends was so original that it prompted a hefty offer from Shark Mark Cuban $30 million for the entire business.

The sisters decline the offer on the show and raised around $23.2 million through investors and other venture funds. Once the show aired, other investors were attracted to the app by seeing Cuban’s enthusiasm. Coffee Meets Bagel is still live in the US as of 2022. 

As of 2022, Coffee Meets Bagel is estimated to be worth $150 million. The app keeps expanding and making waves in the online dating industry thanks to a tons of marketing exposure and investor interest.

Rocketbook (Season 8, Episode 24)

Every developer wants to be number one on Amazon, and these two did it without assistance from the Sharks.

Entrepreneurs Jake Epstein and Joe LeMay pitched their proposal for a microwave-reset, reusable digital notebook, claiming to have a ground-breaking innovation. However, the Sharks not only did not see a market for the invention; they also laughed the team off the program and into their success.

Epstein and LeMay announced earnings of over $10 million shortly after the episode aired, and in November 2016, the Rocketbook was the most popular notebook on Amazon.

Rocketbook is a fast growing and profitable company with $32 million Net Sales in 2020.

Shehak Raza

Shehak is a sports/streaming freak and loves to watch different sports including NFL, NBA, Football and binge watching thriller and drama content is a hobby as well. This guy loves to eat pizza at anytime in any situation

Leave a Reply

Your email address will not be published. (required)