‘Shark Tank’: Why the Sharks Don’t Get Any Profits on This Unique Deal

by Jeremy Spirogis
Daymond John, Barbara Corcoran, Mark Cuban, Lori Greiner, Kevin O

Fans of Shark Tank are counting down the times till the season 12 premiere on October 16. Panelists Barbara Corcoran, Mark Cuban, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary have been making the goals of aspiring entrepreneurs come true because the actuality present launched in 2009.

One product pitched in season 10 attracted all of the Sharks to dive into an funding with a uncommon construction to the deal.

Daymond John, Barbara Corcoran, Mark Cuban, Lori Greiner, Kevin O'Leary, and Robert Herjavec of 'Shark Tank
Daymond John, Barbara Corcoran, Mark Cuban, Lori Greiner, Kevin O’Leary, and Robert Herjavec of ‘Shark Tank’ | Andrew Eccles/ABC through Getty Images

Minimal enhancing within the Tank

Executive producers Clay Newbill and Yun Lingner admit that getting a shot on the notorious Shark Tank carpet means beating out stiff competitors.

“It’s a long and grueling casting process,” Linger instructed Vulture in 2018. “There’s about 30,000 people who apply every year. But as far as what the actual pitch is when they come in, it’s important for us that it’s authentically happening.”

If a contestant botches their pitch, it doesn’t get edited out of the episode. Linger desires viewers to see what it’s really like within the Tank because it’s occurring.

RELATED: ‘Shark Tank’: Barbara Corcoran and Mark Cuban Notice ‘Hungrier’ Entrepreneurs in Season 12

“It’s a really nerve-racking experience,” the Shark Tank govt producer mentioned. “I’m actually more surprised that more people don’t bomb. … When they do flub up, we tend to air them because we want it to be real. It’s not this super-polished, perfect thing.”

Some ‘Shark Tank’ highs and lows

Over the years, the Sharks have seen their share of genius in addition to flat-out loopy. Corcoran recalled one product in 2009 that might fall beneath the latter class.

“The worst pitch is probably the crazy engineer who had a Bluetooth device that would only work if you surgically put it in your ear,” the true property icon instructed USA Today in 2019 of the Ionic Ear. “When it ran out of battery (life), you have another surgeon take it out of your ear and recharge it. Nutso!”

Cuban named a excessive level in season 4, when a youngster pitched an all-natural skincare line.

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RELATED: ‘Shark Tank’s’ Barbara Corcoran Reveals Why She Hired Someone ‘Within the First 5 or 6 Seconds’ of an Interview

“Lani Lazzari’s Simple Sugars, which was a (body) scrub. She was 19 years old (when) she came on, she was poised, she knew her business cold. It was like she had been in business for 25 years and she just happened to walk in to pitch us. She had it all together. It was just incredibly impressive.”

An emotional pitch on ‘Shark Tank’

Kaley, Christian, and Kiera Young appeared on Shark Tank in season 10 to pitch their late father’s invention, the Cup Board Pro. Sharing that they’d misplaced their mom to breast most cancers and their father, a former New York firefighter, to 9/11-related most cancers, the three siblings have been there to take their dad’s distinctive reducing board with a aspect attachment to the following stage in his honor.

Mark Cuban, Lori Greiner, Daymond John, Kevin O’Leary, and visitor Shark Matt Higgins have been the Sharks within the Tank for that episode. Extremely moved by the Young’s story, the whole panel went in on the deal providing $100,000 for 20 % of the business. Yet that slice of fairness was not for the rich traders.

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“This family, these kids, both their parents died, and their dad was a fireman and died from 9/11 (illness),” Cuban defined, in line with ABC7. “We decided to all go in together and donate the profits to the memorial for their parents and for the fire station.”

In a Shark Tank replace on the product, viewers discovered that the Youngs made a licensing settlement with Williams Sonoma. The kitchenware and residential furnishing firm now distributes the Cup Board Pro by its shops and web site. O’Leary – aka Mr. Wonderful – commented on the inspiration the Young siblings introduced by their story.

“We’ve by no means had a deal like this on Shark Tank earlier than,” O’Leary mentioned, as reported by Inc. “The power behind this is the fact that everybody wants to give back.”

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