"Americanized it" - When Mark Cuban recounted the beginning of Shark Tank

Mark Cuban, a tech billionaire who has invested in 85 companies across 14 seasons of Shark Tank, is serving his final season as a regular investor in 2024. During a conversation on the Hart to Heart podcast on July 20, 2023, Cuban shared details about the show's beginning and global roots.

"It started in Japan. Then it went to England and then it came to United States. It was called Dragons Den over there. And then Mark Burnett got a hold of it, changed it, Americanized it," Cuban explained.

His own journey with the Shark Tank began through an unplanned Los Angeles audition. He described, after joining in season two, Cuban invested aggressively in various business pitches and enjoyed his time on the show.

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Mark Cuban revealed how Shark Tank changed from a Japanese format to an American hit

Shark Tank’s business reality format made its debut on Japanese television in 2004 as Money Tigers. The show featured business owners presenting their companies to established investors. British television executives spotted the show's potential and brought it to UK audiences in 2005.

The British adaptation maintained core elements while adjusting presentation styles for local viewers. Producer Mark Burnett reportedly watched multiple Dragons' Den episodes and recognized possibilities for American television. He secured rights and began modifying elements in 2008.

Burnett changed the set design, altered the presentation format, and adjusted filming techniques to align with American broadcasting preferences. The modifications included longer segments for each pitch and increased focus on the entrepreneurs' personal stories.

Shark Tank producers initially considered Mark Cuban for the show's first season in 2009. After reviewing multiple candidates, they selected different investors for the launch. The original panel included Kevin Harrington, Barbara Corcoran, Kevin O'Leary, Daymond John, and Robert Herjavec.

During the Shark Tank season 2's planning phase, producers revisited their decision about Cuban. Despite being unprepared and dealing with aftereffects from the previous night, Cuban participated in the screen test. Recalling this, Cuban stated,

“They asked me initially to be on when it was going to start in 2009. Then they decided against me. They put this other dude on… And so anyways, that didn't work out. So they came back to me and they're like, Well, we want you to audition.”

Shark Tank investor continued,

“I'm like, fine. I don't care. Right. This is season two. So they sat me down and it was out here in LA and I was hung over. They just called me in the morning. Can you come and do it? I was hungover”

The production team proposed a limited engagement of three episodes to evaluate audience reactions. Mark Cuban recalled his initial thoughts about these scheduling shifts during the Hart to Heart podcast. He admitted thinking the inconsistent scheduling meant the show wouldn't last long. His shared,

“And they're like, ‘okay, do you want to do three episodes?’... And I'm like, ‘this show, like, it's on Tuesday night, one night, one week, and it's on Sunday night to replace desperate Housewives. It ain't going to last, right?’ So I'm going to go on there. ”

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Missed investment opportunity

During the same Hart to Heart conversation, the duo discussed a significant missed opportunity. Hart revealed he passed on investing $50,000-75,000 in Uber during its early stages.

Cuban faced a similar situation when Uber co-founder Travis Kalanick approached him. Kalanick offered Cuban an investment opportunity at a $10 million valuation. Cuban proposed investing at a $5 million valuation instead but never received a response.

Uber now operates in more than 10,000 cities worldwide with a market value exceeding $90 billion. Cuban admitted this decision ranks among his most significant investment misses.

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Fans can catch new episodes of Shark Tank on the ABC network.