Shark Tank is a show that sounds exactly what the name says: a show about “sharks” who are successful entrepreneurs and investors that are presented with proposals from individuals who have started their own companies and are looking for funds. Whether or not they make it is up to the discretion of the sharks, and often times they can be ruthless. Hence the term Sharks.
Over 8 seasons the Sharks have thrown millions of dollars towards hopeful investors and have closed the door on even more. The ones that are turned away are dismayed and often end up leaving in tears. However, the ones that are offered deals walk out with their heads held high and move on to successful careers, hopefully.
From household goods to infrastructure hardware to apps and software, the Sharks have always been the “Shark” in the negotiation. But this time around, they were the bait.
In the most recent season, two sisters from Korea, Anna and Samantha Martin, gave the Sharks a run for their money when they presented a product that blew their minds in 3 areas: revenue, projected growth, and current profit margins.
Anna and Samantha Martin started an epidermal-therapeutic care company that develops and manufactures a unique patented cream that when applied to your temple, an area on the sides of your head that contain the most blood vessels connected to your brain, will help relax you and often times help you get to sleep.
When these two young geniuses walked onto the floor and gave their pitch, the first words that came out of Shark Tank’s Barbara Corcoran’s mouth was: “say bye bye to the pharmaceutical sleep medicines, you just cracked a billion dollar market!”
After this… the girls knew they had the upper hand. After long deliberation, Angela and Yoojin were able to secure a $2.5 million investment for only 10% of their company! The largest net deal made in Shark Tank history!