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Since its debut in 2009, Shark Tank has introduced millions of viewers to the high-stakes world of venture capitalism. Modeled after the British show Dragons’ Den, this American reality series features entrepreneurs pitching innovative products and services to a panel of wealthy investors—known as the “sharks.” The show is currently airing season 16, which premiered on October 18, 2024.
These sharks, representing a range of industries, decide if they’ll invest their own money in exchange for a stake in the business. Over the years, the show has not only won five Primetime Emmy Awards for Outstanding Structured Reality Program but also witnessed some heated exchanges among the sharks as they compete to make deals.
The show has seen many unforgettable moments, including three major bidding wars in Shark Tank history, showcasing the fierce competition among investors.
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Competitive bidding wars on Shark Tank so far: Ice Cream Canteen, Locker Board, and Little Elf
1) Ice Cream Canteen: Mark Cuban and Lori Greiner vs. Daniel Lubetzky
In season 14 episode 18 that aired on March 31, 2023, a disagreement emerged around Jordan Stern’s Ice Cream Canteen, a product designed to keep ice cream cold for extended periods. Seeking $100,000 for 5% equity, Stern attracted Mark Cuban and Lori Greiner, who offered $100,000 with a $100,000 line of credit for 25% equity.
During the negotiations, Greiner asked Daymond:
“Are you making an offer here? All you do is talk while I talk.”
Daymond replied:
“We’ve heard you for six hours already.”
However, guest shark Daniel Lubetzky’s attempt to make a competing offer was met with resistance as Stern first negotiated with Cuban and Greiner. The two sharks eventually adjusted their offer to 20% equity with a $200,000 line of credit.
When Lubetzky continued interjecting, he commented that Stern’s negotiation strategy might not be “the smartest way.” The exchange concluded with Stern accepting Cuban and Greiner’s deal and Lubetzky missing out.
2) Locker Board: Richard Branson vs. Mark Cuban
In season 9, episode 1 of Shark Tank which aired on October 1, 2017, tensions rose over Carson Kropel’s Locker Board, a compact skateboard designed to fit inside school lockers. Eleven-year-old Kropel impressed the sharks with his business skills, securing offers from Richard Branson, Mark Cuban, and Robert Herjavec.
Branson proposed partnering, saying:
"I was going to suggest that you and I work together on it."
Meanwhile, Cuban chose to compete, declining Branson’s offer to collaborate. Branson ultimately outbid Cuban with a $65,000 offer for 20% equity, leading Kropel to accept.
3) Little Elf: Kevin O'Leary vs. Daymond John
In Shark Tank season 11 episode 11 which aired on December 1, 2019, Bryan Perla presented his innovative product, the Little Elf Gift Wrap Cutter, designed to cut wrapping paper easily and precisely.
Seeking $150,000 for 15% equity, Bryan demonstrated how the tool sliced through wrapping paper with ease, impressing the Sharks, especially Lori Greiner and Kevin O'Leary. Lori offered $150,000 for 30% equity, while Kevin countered with $150,000 for 10% plus a $1 per-unit royalty until he recouped $450,000.
As Lori and Kevin competed, Bryan insisted he preferred an equity-only deal, leading to some tension. Kevin responded to Lori’s offer by saying:
"Good thing I'm here Bryan. As a fellow dyslexic... I'm not as greedy."
Lori responded:
"I can sell hundreds of thousands of these in minutes on my show... No offense to Kevin, but my show is way more popular."
Eventually, Lori reduced her offer to $150,000 for 20% equity, which Bryan accepted, securing the deal.
Shark Tank has seen numerous intense moments over its long-running history. As the show continues to welcome entrepreneurs with groundbreaking ideas, viewers will likely witness more clashes, negotiations, and memorable moments.
Catch all the drama and innovation on Shark Tank season 16 with new episodes every Friday at 8 ET on ABC. Don’t miss out on the latest pitches and deals!
