Shark Tank is a reality TV series in which contestants are given an opportunity to pitch their ideas to investors. Small business owners as well as aspiring entrepreneurs appear on the show in hopes of signing a deal with one of the sharks. The investors who have appeared on the ABC series include Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O'Leary.
Some contestants end up receiving an offer and negotiating to sign a deal while others take the sharks' advice to apply it to their business strategy. At times, all sharks provide a joint offer for entrepreneurs after getting impressed by an idea or a new business model. The top three deals include offers made to Buggy Beds, Breathometer, and XCraft.
The official Shark Tank synopsis reads:
"Aspiring entrepreneurs from around the world pitch their business models to a panel of investors and persuade them to invest money in their idea."
Top 3 deals made by all 5 sharks on Shark Tank
1) Buggy Beds
Buggy Beds entrepreneurs appeared on Shark Tank seeking $125K for a 7% stake. During their pitch they talked about the bugs' early detecting system and that they have thoroughly tested the product to ensure it works. Despite being profitable, their main concern was stepping into retail without any guidance.
All five sharks were interested in making an offer especially when the contestants mentioned they turned down five million dollars offered to them once.
Kevin called all sharks for a group discussion, he said:
"Ladies, ladies, I want you to step outside for me okay? because I want to have a little shark discussion. Okay boys and girl, we all want part of this deal. I want to avoid a shark fight. I want a piece of this deal, I know everyone is thinking the same thing."
Mark, Kevin, Daymond, and Robert offered $250K for a 25% stake, this offer was joined by Barbara as well. Hence the deal was confirmed after the contestants agreed to the offer. Robert stated that the entrepreneurs were looking for "tremendous value" rather than more cash.
2) Breathometer
Breathometer's founder Charles Michael Yim shared his innovative product on Shark Tank. The "world's first smartphone breathalyzer's" main function was to find out whether it is safe to drive after drinking.
Charles mentioned that the device and the app can be used to find out the alcohol levels of an individual. Initially, Mark was not ready to join with other sharks to place an offer.
So, Lori, Kevin, and Robert gave a joint offer of $750K for a 30% stake. Later, all five sharks decided to give an offer of $1 million for a 30% stake which was accepted by Charles.
3) XCraft
Shark Tank contestants JD Claridge and Charles Manning introduced their product XCraft. This drone was a combination of the "hovering precision of a helicopter and the fast flight of an aircraft."
After their pitch, Kevin offered $750K for 25% at stake meanwhile the business owners had asked for $500K for a 20% stake. Then, Daymond also gave an offer of $1 million for a 25% stake after which Lori and Kevin matched Daymond's offer by reducing the equity to 20%.
The XCraft owners gave a counteroffer of $1.5 million for a 25% stake which all five sharks accepted. Stream Shark Tank exclusively on ABC. Viewers can follow the investors on their official Instagram accounts.