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Shark Tank season 16 aired exclusively on ABC on October 18, 2024. Since then, five episodes have been released, introducing viewers to new businesses and enterprises looking for investments. In the newly released episode on November 15, 2024, the Sharks- Barbara Corcoran, Lori Greiner, Mark Cuban, Kevin O'Leary, and guest Shark Rashaun Williams agreed to four investment deals.
Chomp Shop, Creator Camp, Y'all Sweet Tea, and Chalkless secured a deal on Shark Tank. Mark Cuban and Lori Greiner invested $50,000 in Chomp Shop for 75% equity. Kevin O'Leary, also known as Mr. Wonderful, and guest Shark Rashaun Williams agreed to $400,000 for 4% equity with royalties in Chalk Less.
Shark Barbara Corcoran agreed to 18% equity for Creator Camp to invest $350,000. Lori Greiner and guest Shark Raushan Williams agreed to invest $500,000 in Y'all Sweet Tea for 15% equity. The episode synopsis reads as the following:
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"A kid-friendly cardboard cutter; a way to strengthen one's athletic grip; a creative content camp for kids; a refreshing twist on sweet tea; Rashaun Williams returns as a guest shark."
Shark Tank season 16 episode 5: Businesses that secured investments from the Sharks
1) Chomp Shop
Chomp Shop's target was to give children a way to continue their creativity through the use of cardboard. Their main product was the ChompSaw, which allowed children to cut cardboard and transform it into a 3D craft. This would give a pathway for young children to express their ideas through innovation. Mark Cuban and Lori Greiner partnered for a 75% equity in Chomp Shop and invested $50,000.
2) Chalkless
This business was presented on Shark Tank season 16 episode 5 through their product, the Chalkless Grip Enhancer. The product is made for athletes and people who are interested in sports. Chalkless' main goal is to make "lifting, climbing, and high-performance activities" easier with a firm grip. Kevin O'Leary and guest Shark Rashaun Williams agreed to invest $400,000 for 4% equity with royalties. The deal included a $2.50 per unit royalty till it reached 4 million, then the $2.50 would be changed to 25 cents.
3) Creator Camp
The third business that secured a deal on Shark Tank season 16 episode 5 was Crato Camp, "an edtech summer camp." This is for children to get to know more about media arts. Through this creator camp, kids between the ages of 6 to13 will get a chance to explore their capabilities by building a connection with technology.
As per their ABC description, they provide children with access to education about "animation, filmmaking, game design, music production, entrepreneurship, & content creation." Shark Barbara Corcoran received 18% equity in Creator Camp for an investment worth $350,000.
4) Y'all Sweet Tea
Y'all Sweet Tea, based in Alabama, brings multiple flavors of Southern tea, from Georgia Peach flavored to Caffeinated and DeCaffeinated. Lori Greiner and Raushan Williams partnered to invest $500,000 for 15% equity.
New episodes of Shark Tank season 16 air every week on Fridays at 8/7c exclusively on ABC and the next day on Hulu TV. Viewers can follow Shark Tank's official Instagram page to stay updated with episode teasers and sneak peeks.
