Shark Tank is a television show where entrepreneurs are given an opportunity to pitch their product or business idea to the sharks in an attempt to get the sharks to invest. Upon introducing their product or business idea, the entrepreneur offers an equity stake in their product or business in exchange for the shark’s monetary investment. If a shark sees potential in an entrepreneur’s idea, they can take the offer or the shark may demand a different equity in the entrepreneur’s company in exchange for a stated financial commitment.
The equity stake requested and monetary investment offered by a shark may differ from the entrepreneur’s initial request. If a Shark Tank entrepreneur feels confident they might make a counter offer to the shark’s offer, hoping the shark will bite. Sometimes more than one shark will bite on the same entrepreneur’s idea.
The Shark Tank sharks are five, self-made millionaire entrepreneurs who invest their own money if they decide to partner with an entrepreneur:
Kevin O’Leary, a self-proclaimed “Eco-preneur”, made his fortune in educational software. His educational software company sold to Mattel for 3.7 billion dollars.
Barbara Corcoran, built a successful five billion dollar real estate business, she was a D student in high school and college.
Daymond John, a branding expert and founder of FUBU, made his millions with fashionable sportswear.
Kevin Harrington, an infomercial pioneer, has made millions from his expertise on marketing products with infomercials.
Robert Herjavec, is a self-made millionaire in the technology industry.
Friday at 8:00 PM on ABC
August 9, 2009