Have you ever wondered what happened to some of the products that the Sharks invested in? In this article, we will discuss the top 10 Shark Tank products that the Sharks regret taking.
From the Kate App to Qubits, we will be taking a closer look at the deals that were nowhere near as profitable as they thought.
The two examples above are just a couple of examples of the products that the Sharks invested in that didn’t quite pan out. Let’s dive into the top 10 Shark Tank deals that the Sharks definitely regret taking.
Top 10 Shark Failed Products
Shark Tank has seen some incredible products over the years, but not every deal made on the show has succeeded. Here are the top 10 Shark Tank products that the sharks regret taking:
#1 – Cate App
The Kate app was presented on Shark Tank as a privacy app that could conceal any communications on a user’s mobile device that they wished to keep private.
RT @kevinolearytv: @CATEApp the cheaters app Frm #SharkTank? Featured in the Wall Street Journal front page! http://t.co/fIpQVZJQ
— Daymond John (@TheSharkDaymond) January 11, 2013
Despite being dubbed a “cheater’s app” by one of the Sharks, the founder argued that it was simply a privacy app. The app allowed users to choose which contacts they wanted to keep hidden, and any text messages or calls would be diverted to the app, hiding them from plain sight.
The founder of the Cate app, Neil, received a combo deal from Kevin O’Leary and Damon John, but the app is nowhere to be found today. The website no longer exists, and their last tweet was in 2013. Although similar apps have since surfaced, this one is now long gone.
#2 – Qubits
During the first season of Shark Tank, Mark Burginger pitched his construction toy concept, Qubits, to the investors. Qubits are interlocking flat plastic pieces that kids can use to build whatever their imagination comes up with.
Damon gave Mark a contingency offer, hinged on getting a major toy seller to buy into the concept. Unfortunately, they couldn’t convince other toy makers to take the product on, and Damon pulled out. Despite the hurdle, Qubits is still in business and actively sells products on Amazon.
#3 – 365
Will Strange, an entrepreneur from Australia, appeared on the Australian version of Shark Tank with a subscription service for men’s underwear called 365. The service delivered three pairs of underwear and socks to subscribers every three months for $30.
Strange received an offer from Naomi Simpson and Janine Alice, but concerns were raised about his ability to balance the new business with his other ventures. In the end, Strange focused on his sports performance tracking business, and 365 was sold off before eventually closing its doors in October 2019.
#4 – Haikon
Haikon is a fire hose attachment that was pitched on Shark Tank. Its creator, Jeff Stroop, had developed a specialty adapter for both fire and garden hoses that made them easier to connect than traditional means.
The deal fell when Mark Cuban and Stroop disagreed on getting the product into the market. Mark Cuban offered $1.25 million to buy out the product and guarantee employment for its creator, Jeff Stroup. Cuban wanted to license the design to another company, while Stroop wanted to retain complete control.
Although Stroop ultimately prevailed, as of 2019, Haikon’s Facebook and Twitter pages have gone silent, and their online store seems to be missing.
#5 – Night Runner
Still looking for that perfect gift for a runner ! Check out the Night Runner 270 running shoe lights one of ABC’s Shark Tank Company ! pic.twitter.com/h4yq9qCLye
— ccrspottstown (@ccrspottstown) December 19, 2016
Doug and Renata Store pitched the Night Runner 270 shoe lights to the sharks in season 8 of Shark Tank. The lights provide 270 degrees of visibility around the runner with 150 lumens out in front and a 30-foot beam distance to identify any trip hazards.
Robert Herjavec offered them $200,000 for 15% equity and $150,000 as a loan, but they didn’t need his money. Once their episode aired, their business took off on its own, and they no longer needed a major investment.
They are still sold today and have expanded their product line even further.
#6 – Show No Towels
Shelley J Ehler pitched her product, Show No Towels, to the Sharks on Shark Tank in hopes of securing a deal that would help her sell her changing towels to water and other theme parks. The product was essentially a poncho that doubled as a changing towel.
Although she convinced Lori Greiner to invest in her product, the business failed. Despite securing a deal with Disney World’s water parks, the towel business did not thrive, and Ehler ultimately gave up on her business three years after the episode aired.
Unlike other Shark Tank products, Show No Towels did not receive a wave of orders after the episode aired. Ehler’s deal with Greiner was also less appealing off the cameras. Thus, it did not turn out to be as profitable as they had hoped.
#7 – The Body Jack
Jack Behringer, also known as Cactus Jack, appeared on Shark Tank with his exercise machine, The Body Jac. Barbara Corcoran made a deal with him that if he could lose 30 pounds using his machine, she would match Kevin Harrington’s deal and fund the other half of Jack’s $180k ask.
However, the machine was not as successful as they thought, and the deal fell through. The Body Jac claims to provide a full-body workout with just one machine. It uses a patented resistance system to adjust the intensity of the workout.
Despite the initial interest from the Sharks, The Body Jac failed to gain traction in the market. The company’s website is no longer active, and it’s unclear if the product is still being sold anywhere.
#8 – The Hanukkah Tree Topper
The Hanukkah Tree Topper was pitched by Morri Chowaiki on Shark Tank. It was designed to be a Hanukkah tree topper and bring Judaism into interfaith homes during the holidays.
With the Hanukkah tree topper, there is only so many sales you can make. #SharkTank
— Is it just me? (@misnsomething) December 14, 2013
Daymond John offered $50,000 for a 35% equity stake in the company. After the show, the company scored a licensing deal with the famous Christmas decor company Kurt Adler, who took over production and distribution.
Every time the product sells, Morri and Daymond get a nice royalty. While there were some challenges, the Hanukkah Tree Topper is still going strong.
#9 – The UroClub
The UroClub golf club, which doubles as a portable urinal, was pitched by Dr. Floyd Seskin in season 1. Kevin Harrington offered Dr. Seskin $25,000 for a 70% equity stake in the company.
However, despite the initial success, the UroClub business did not thrive as expected. The UroClub website is no longer active, and the product is not available for sale.
Regardless, Dr. Seskin’s other business ventures are still going strong. His entrepreneurial spirit remains undeterred.
#10 – The Sullivan Generator
The renewable energy product, called the Sullivan Generator, was pitched by Mark Sullivan on Shark Tank. It claims to produce gold and electricity simultaneously by creating artificial tornadoes.
This renewable energy product was pitched by John Sullivan, who convinced Robert Herjavec to invest $150k in the company. However, the product could never deliver its promises, and the business ultimately failed.
Summary
The journey of entrepreneurship is filled with both successes and failures. While Shark Tank provides a unique platform for entrepreneurs to pitch their ideas to seasoned investors, it does not guarantee success.
The ultimate fate of a product or a business depends on various factors such as market demand, competition, execution of the business plan, and, sometimes, sheer luck.
The stories of the Sullivan Generator, ShowNo Towels, UroClub, and others serve as reminders that a product can fail to gain traction in the market. They highlight the importance of adaptability, resilience, and the ability to learn from failures.
Still, failure is not the end. Many entrepreneurs use these experiences as stepping stones to refine their ideas, learn valuable lessons, and come back stronger. As they say, “Failure is not the opposite of success; it’s part of success.”
About Post Author
