What Happened to Xero Shoes After Appearing on Shark Tank?
The television show Shark Tank has helped many entrepreneurs launch successful businesses. On this reality-TV program, entrepreneurs pitch their ideas to an investor panel comprised of billionaire Mark Cuban; real estate mogul Barbara Corcoran; QVC host Lori Greiner; FUBU founder Daymond John; tech innovator Robert Herjavec and venture capitalist Kevin O’Leary as investors.
On the show, entrepreneurs must negotiate with the sharks and devise a plan for making their business profitable. This may involve raising funds or selling the company to a larger firm; investors then carefully consider each proposal before deciding whether or not they invest in the business.
After concluding their deal, entrepreneurs must work with shark investors to expand their business. Investors may provide assistance with marketing, branding and other aspects of business growth; and be open to receiving feedback from sharks on ways they could enhance both product and business plan improvement – often offering invaluable tips along the way!
Some businesses that appear on Shark Tank become huge successes after making deals, while others struggle. Here are a few examples of those that have struggled after making deals through Shark Tank.
Barbara Lampugnale created Nail Pak as an all-in-one nail polish kit featuring three colors of polish, mini nail file and pre-soaked remover pads in one convenient container. After pitching her idea on Season 3 of Shark Tank and sparking bidding wars between Kevin O’Leary and Lori Greiner, Greiner eventually invested $50,000 for 40% equity stake in Nail Pak.
The Nail Pak was featured on QVC shortly after its appearance on Shark Tank and sales skyrocketed, yet in 2014 the company seems to have disbanded, no longer selling on its website or through other retailers; likely sold or discontinued production altogether.
What Happened to Xero Shoes
The founders of Xero Shoes created minimalist footwear designed to replicate the feel of running barefoot. After being featured on Shark Tank and receiving investment from Robert Herjavec, Xero Shoes achieved great success despite quality issues and customer dissatisfaction issues.
What Happened to Copa Di Vino?
Copa Di Vino made quite an impactful debut appearance on Shark Tank back in 2013, impressing all three Sharks with its cocktail inspired cosmetic line which sold well online and at stores such as Sephora. Unfortunately, though, due to some legal complications they were no longer able to continue growing the business as projected.
Wanna Date, an apnea monitor company, decided to partner with the Sharks and receive investment. Their technology helps users locate potential dates nearby and connect more easily online – all while raising an extra $200,000 through this deal.