Shark Tank’s Biggest Successes Include A Healthcare Unicorn, A Beloved Sock Brand And A…

More than 600 companies have gotten investments from ABC’s Shark Tank judges in the past 13 years. These are some of the most successful.

Shark Tank’s celebrity investors have seen—and thrown their backing behind—everything from rentable Santa Claus performers and light-up beard ornaments to mini chainsaw turkey carvers and mushroom jerky. While many don’t go onto become household names beyond their 15 minutes of TV fame, there are some companies that managed to parlay their deals on the show into huge success. Forbes analyzed roughly 380 companies that left the tank with a deal in the past 6 years. We also poured through earlier Forbes reporting of another 319 businesses, scoured press reports and websites, and spoke to Shark Tank judges in search of the most successful. Of these dozens, seven stood out based on how much the businesses are worth, what their revenues are or how much they’ve grown since Shark Tank.

Some of the big winners are a bit surprising: four friends launched flushable wipes brand Dude Wipes out of their Chicago apartment in 2013, claiming to start it to “have fun, make shit jokes, and kick ass.” A year later, clever marketing got their brand featured on the butt of an MMA fighter and trending on Twitter. Today Dude Products, which claims to have been the number 2 stocking stuffer this holiday season, is expecting sales of $100 million for 2022. Husband-and-wife team Allison and Stephen Ellsworth started mixing fruit juice with cider vinegar in their kitchen to help with weight loss. Now their healthy Poppi soda brand has roughly $50 million in sales.

“Getting a million dollar investment from Mark Cuban on Shark Tank validated [the brand] to anybody who had any questions about what we were doing,” said Justin Fenchel, cofounder of Beatbox boxed cocktails, another Shark Tank winner. “It solidified us as entrepreneurs, it solidified us as a viable business.”

The most valuable Shark Tank-backed company ever, based on Forbes’ analysis, is Everly Health, a telehealth and diagnostic testing company that lets customers screen for everything from STDs to food sensitivities right in their homes. It raised $54 million at a more than $3 billion valuation in 2021, according to Pitchbook. It’s likely worth less now, given the market drop and jitters about unicorns, but still has bragging rights as the only unicorn that we found.

At least a couple of the most successful companies ever to appear on Shark Tank walked away with no deal. Jamie Siminoff pitched his video doorbell company, DoorBot, to the judges in 2013. Shark Kevin O’Leary reportedly offered him a $700,000 loan in return for a 10% royalty and 5% equity stake, which Siminoff rejected. Five years later, he sold his then smart-home security tech outfit Ring to Amazon for a reported $1 billion.

The founders of Kodiak Cakes, a line of whole grain and protein-packed pancake and waffle mixes, went on Shark Tank in season 5 looking for $500,000 in return for a 10% stake. They turned down Sharks’ offers that asked for 30% or more in equity, but still emerged as winners. The publicity from their 2014 TV appearance helped double sales that year to nearly $8 million. It raised outside money from Sunrise Strategic Partners in 2016, and by 2020, sales had reportedly jumped to $200 million. Kodiak Cakes, which now sells everything from granola bars and oatmeal to all sorts of flapjack mixes at retailers such as Target and Amazon, is ending 2022 with an estimated $500 million in retail sales, according to cofounder Cameron Smith.

Of course, even those that are initially a big success can run into trouble. The Comfy brand, known for its snuggly wearable blankets, became a near instant hit after appearing on the show, winning over Barbara Corcoran and millions of customers. Things have since unraveled, and Corcoran sold out. Its co-founder is currently trying to pay off debts and re-energize the brand.

Here are seven Shark Tank success stories.

Everly Health

November 2017, Season: 9

Shark: Lori Greiner

Shark Tank deal: $1 million line of credit at 8% interest in exchange for 5% equity

Julia Cheek founded Everlywell, in Austin, Texas in 2014 to sell easy, affordable at-home lab tests directly to consumers. The company already had $2.5 million in revenue from selling its FDA approved tests for cholesterol screening and the like by the time she went on Shark Tank in November 2017 and won the backing of Lori Greiner. Since then, the company has expanded its offerings in part by acquiring two other health diagnostic firms and Natalist, which makes pregnancy and ovulation tests as well as prenatal supplements. Everly Health, which now sells over 30 at-home lab tests via Amazon, Target, CVS and others for everything from food sensitivity to STDs, raised an estimated $154 million Series F funding round, according to Pitchbook, at a $3.45 billion post valuation in December 2021. That valuation has likely come down along with markets but, even still, it’s a notable winner. (EverlyWell declined to comment.)