1) In seasons 1-4 there was a clause the entrepreneurs had to sign that meant the Sony Pictures Television (the TV company that produces the show) was entitled to a 5% equity share or a portion (2%) of revenues generated by the business. This clause was later deleted for future entrepreneurs who appear on the show after Mark Cuban felt it was unfair and requested it be removed.
2) Not all deals end well. The show periodically gives updates on deals that have been very successful, but not everything ends will in the Shark Tank. Deals reached in the Tank are negotiated in good faith, and both sides have the right to withdraw later during the due diligence process. Even when a deal is finalized, there is still the chance the business will not be successful and any investment made by the Sharks will be lost. Approximately 50% of deals made on the show are finalized while the other 50% fall apart after filming is completed.
3) Immediately after an entrepreneur makes their pitch to the Sharks, they are sent a psychiatrist to make sure they are mentally stable after being grilled by the Sharks. Each pitch lasts about an hour while only 10 minutes of the pitch makes it to air.
4) Here is the estimated net worth of each Shark:
- Mark Cuban – $3 billion
- Kevin O’Leary – $300 million
- Daymond John – $250 million
- Robert Herjavec $100 million
- Lori Greiner – $50 million
- Barbara Corcoran – $40 million
5) The most successful investment (to date) in the Tank belongs to Lori Greiner – she invested $200,000 in Scrub Daddy which now has sales of approximately $25 million.
6) While it hasn’t been confirmed, it is rumoured that each Shark makes approximately $50,000 per episode.
7) Before entrepreneurs begin their pitch, they must stand in front of the Sharks (being totally silent) for 30 seconds so that the cameras can get ready to begin filming. Past entrepreneurs that have appeared on the show have said the 30 seconds can feel like an eternity, with the Sharks staring back at them without saying a word.
8) Everything on the show is real – real businesses, real money and real risk. For this reason the Sharks show real passion about some of the pitches because they know they can make substantial profits from the successful investments.
9) Shark Tank producers typically receive about 35,000 applications to appear on the show and approximately 100 lucky entrepreneurs get chosen.
10) The opening theme song for Shark Tank was performed by Ricky Fante, an R&B singer who also appears in “One Tree Hill” and “Best Man Holiday”.
11) Mark Cuban, the most wealthy Shark, recently revealed his worst investment: Toygaroo, a subscription-based toy rental company. The company pitched on Shark Tank and reached a deal with Mark Cuban and Kevin O’Leary, who gave them $200,000 for a 35% equity share. The company advertised itself as the “Netflix for toys” and offered kids new toys every month delivered by regular mail. The business failed to grow after reaching the deal and filed for bankruptcy in April 2012.