15 Rejected Shark Tank Pitches that Made Millions

by Rishika Jain3 weeks ago0 comments

8 First Defense Nasal Screens: a lightweight nasal screen that reduces allergens inhalation.

Nasal Screens
Image credit: sharktankblog.com

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

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

9 Smart Baker: sells bakeware to make cooking easier and simpler.

Smart Baker
Image credit: sharktankblog.com

The co-founder of Smart Baker, Daniel Rensing, created an apron that had a conversion chart on the bottom. In an attempt to make his wife’s life easier, he ended up creating a new company selling aprons to make cooking easier and simpler.

Daniel, along with his wife Stephanie, appeared on Shark Tank asking for $75,000 for 25% of their company. One of the sharks, Barbara Corcoran, offered them $75,000 for 40% equity and 5% royalty, which the duo rejected. Within a year, company revenue grew to $600,000 in 2012 after the airing of the episode and close to $1 million by March 2015. (source)

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10 Ring Video Doorbell: this product went from Shark Tank’s rejection to Amazon’s best-seller.

Ring Video Doorbell
Image credit: geekwire.com

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

Before his appearance, Jamie already had $1 million in annual sales and seemed confident about his product. He pitched it for a $700,000 investment in return for 10% equity in the company. He only received one offer from the sharks, which also he turned down. After the airing of the episode, Ring Video Doorbell was flooded with sales. Later, Siminoff renamed his brand to Ring. In 2018, Ring was purchased by Amazon for $1 billion, making it the most successful Shark-Tank-rejected business. Later, Jamie Siminoff returned to Shark Tank as a shark guest. (source)

11 Spikeball: a two-on-two game resembling volleyball

Spikeball
Image credit: Spikeball.com

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

Spikeball already had a yearly revenue of $1 million when Ruder appeared on Shark Tank in 2015. He pitched it and asked for $500,000 for a 20% equity stake, but he walked off the stage empty-handed. Despite not getting the deal, Spikeball gained TV exposure and cracked $13 million in revenue in 2016. (source)

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12 Voyage-Air Guitar: a guitar that folds in half for easy transportation.

Voyage-Air Guitar
Image credit: Facebook.com

The founder of Voyage-Air Guitar, Jeff Cohen, had a goal to manufacture high-quality guitars which are easily accessible and portable and can fit into a fast-paced lifestyle. Cohen, along with his son Josh, launched Voyage-Air Guitar which sells full-sized guitars which can be folded in half.

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

13 Eco Nuts: an eco-friendly and organic detergent company

Eco Nuts
Image credit: superfoodly.com

The founders of Eco Nuts, Mona Weiss and Scott Shields were always keen on using eco-friendly products. When they struggled to find an organic laundry detergent, they decided to make one from nuts. They founded Eco Nuts, which is an organic and eco-friendly laundry detergent company.

While the duo was on the track of making $250,000 in sales, they decided to appear on Shark Tank Season 4. They asked for $175,000 for a 15% equity stake. They weren’t successful in cracking any deal, but the company did benefit from the exposure. Within a year, Eco Nuts generated $1 million in revenue, and today it is sold in thousands of locations. (source)

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14 Lip Bar: selling vegan-friendly lipsticks made from natural plant-based ingredients.

Everyone is opting for vegan food, so why not also opt for cruelty-free cosmetics? Lip Bar, a vegan-friendly company, was launched in 2012 by Melissa Butler. Butler created this company when she couldn’t find authentic vegan lipsticks and took a chance to manufacture natural lipsticks at home. The company sells vegan-friendly lipsticks made from natural, plant-based ingredients.

Butler appeared on Season 6 of Shark Tank with her revolutionary brand, Lip Bar. She pitched for a $125,000 investment in return for a 20% stake in the company. Every shark turned down the offer, but after the show was broadcast, Butler pitched her product to Target. The popular retailer, Target, now carries all the products of Lip Bar in its store, and the company has a $7 million valuation today. (source)

15 Xero Shoes: gives the person the feeling of running barefoot.

Xero Shoes
Image credit: xeroshoes.com

The idea for Xero Shoes struck when co-founder, Steven Sashen, would get injured while running. He switched to barefoot running and loved the experience. He wanted to prolong the barefoot running experience even on the surfaces which required foot coverings.

Sashen, along with his wife Lena Phoenix, created Xero Shoes, which are lightweight shoes with a natural fit, feel, and simulate barefoot movement. The couple appeared on Shark Tank with $800,000 sales already in hand. They pitched their shoes for $400,000 for 8% equity but were unsuccessful to be offered any deal. Eventually, the duo ended up raising $1 million through crowdfunding and is still cracking a yearly revenue of $13 million. (source)

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