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Throughout the 12 seasons of the TV show Shark Tank, it has averaged millions of viewers across the country. The show is considered to be the biggest platform for the public that any small time entrepreneurs could hope for, the 10 minute pitch period given to them can actually translate to huge amount of sales. Examples of those who made it big because of the show are Tipsy Elves and Scrub Daddy, who started successfully closing deals on the show.
However, even those who were rejected and did not secure investments from the show have done great as well. The money from the judges could have a great impact on their business, but national exposure is can be just as valuable. Listed below are the eight rejected pitches by the judges but actually made it and became successful in their endeavors.
The Bouqs Co.
The Bouqs Co. got their pitch rejected on the Shark Tank in 2014, leaving the show without an investment. However, Robert Herjavec kept their business in mind when he was planning the flowers for his wedding three years later. Herjavec ended up investing in the business after having a firsthand glimpse into the The Bouqs Co. process behind their creation of beautiful flower arrangements. That same year, the company became widely successful where they would even have $1 million sales in just a day, according to the company co-founder and CEO John Tabis. Today, the company was able to raise about $88 million in funding.
Kodiak Cakes
Kodiak Cakes got their pitch rejected on the Shark Tank in 2016, although the judges liked the taste as well as the nutritional benefits of their pancake mixes, no one agreed to invest to their business. During that time, the co-founder and COO of Kodiak Cakes was seeking about $500,000 investment that will yield about 10% of the business. The judges disagree with the valuation and they all agreed that it is a bit much. Today, Kodiak Cakes proudly boasts about $160 million annual sales with different products such as oats, granola bars, protein bars, graham crackers and microwavable flapjack cups.
Ring
Ring got their pitch rejected on the Shark Tank in 2016 when the owner, Jamie Siminoff , was not able to convince the judges to invest. The smart video doorbell can give the homeowners some peace of mind when checking who’s at their door. When the founder of Ring appeared on the show, he valued the company at $7 million, which was called Doorbot at the time. However, since then, the company has become a prominent brand and even Amazon made a deal to buy Ring worth over over $1 billion.
The Lip Bar
The Lip Bar got their pitch rejected on the Shark Tank in 2019, failing to snag some investment from the judges. The former Wall Street executive, Melissa Butler, founded The Lip Bar to create a vegan-friendly, affordable and cruelty free make up brand. The brand was established by Butler to showcase more diverse imagery than other current beauty brands. The Lip Bar is currently valued at $7 million in net worth.
Nerdwax
Nerdwax got their pitch rejected on the Shark Tank in 2017 failing to get some investment from the judges. Nerdwax is a natural and non-irritating wax that can be applied to the nose pads of the glasses to help them stay up. Although the Shark Tank judges found the item useful, they think that the $10 per tube Nerdwax is not justifiable. However the audiences seem to think otherwise as Nerdwax was able to gather sales of $1 million right after appearing on the show.
Xero Shoes
Xero Shoes got their pitch rejected on the Shark Tank in 2016 failing to get some investment from the judges. Steven Sashen, co-founder of Xero Shoes, created a thin running sandal that can make running easier. The brand was not able to find a celebrity investor in the show but they were able to raise $1 million through crowdfunding. Xero Shoes snagged a deal with USA Artistic Swimming team who announced that they will their official footwear partner in July 2020.
MealEnders
MealEnders got their pitch rejected on the Shark Tank in 2017 failing to get some investment from the judges. The idea of MealEnders intrigued the judges but they decided not to invest in the business. It is a two layered candy lozenge that will prevent a person from overeating. A lot of people doubted the product but they still caught the attention of a lot of viewers. They were able to boost their sales to $1.2 million after their Shark Tank appearance. Their highest recorded sale in a year was $5 million.
Copa Di Vino
Copa Di Vino got their pitch rejected on the Shark Tank in 2012 failing to get some investment from the judges. The founder of Copa Di Vino, James Martin, actually walked out of the offers from the judges not once but twice. Copa Di Vino is a patented single serving wine container which seems like a fun idea. The appearance of Martin leads the company to raise $14 million sales.
Sources: Insider, Money PPL, CNBC
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