What Is Shark Tank?
Shark Tank is an American business reality television series that premiered on August 9, 2009, on ABC. The show is the American franchise of the international format Dragons’ Den, which originated in Japan as Money Tigers in 2001. It shows entrepreneurs making business presentations to a panel of five investors or “sharks,” who decide whether to invest in their company.
The series has been a rating success in its time slot. Winning the Primetime Emmy Award for Outstanding Structured Reality Program four times (2014–2017) in the first four years of that category’s existence. Before that (2012–13), it won the Outstanding Reality Program.
On February 5, 2019, ABC renewed the series for an eleventh season, which premiered on September 29, 2019. ABC renewed the series for a twelfth season, which premiered on October 16, 2020. On May 13, 2021, ABC renewed the series for a thirteenth season, which premiered on October 8, 2021.
How a Business Is Valued on “Shark Tank”？
The underlying theme of the “Shark Tank” TV series is for either the Sharks (the investors) or the entrepreneurs (pitching their business) to convince the other side to accept the valuation of their business and negotiate a deal based on it. The entrepreneurs tend to come in with high valuations, and the Sharks counter with lower valuations.
The show features a panel of investors called “sharks,” who decide whether to invest as entrepreneurs make business presentations on their company or product. The sharks often find weaknesses and faults in an entrepreneur’s valuation of their company, product, or business model. Some of the investors are usually kindhearted and try to soften the impact of rejection, like panel member Barbara Corcoran. While others such as Kevin O’Leary can be “brutal” and show “no patience even for tales of hardship”. The sharks get their income as cast stars of the show, but the money they invest is their own. The entrepreneur can make a handshake deal (gentleman’s agreement) on the show if a panel member feels interested. However, if all of the panel members opt out, the entrepreneur leaves empty-handed.
By now hundreds of products have got support and investment from these “sharks”. Examples are some best weight loss products, especially the shark tank keto diet pills.
Who Is the Wealthiest “Shark” on Shark Tank?
Mark Cuban is the richest of the Sharks on Shark Tank with an estimated worth of over $4.7 billion as of 2022.
What Are Some Ideas That Sharks Passed on But Were Successes?
The Sharks aren’t always right in their assessments. Notable examples of ideas that were rejected on the show but went on to become very successful include Ring, Coffee Meets Bagel and Chef Big Shake.