5 Rejected Shark Tank Pitches That Made Millions...

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10 Rejected Shark Tank Pitches That Made Millions

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7 Rejected Shark Tank Pitches That Made Millions:

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10 Rejected Shark Tank Pitches That Made Millions:

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5 Rejected Shark Tank Pitches that made Millions

On Shark Tank, it sometimes seems like the Sharks know the best business decisions but time and time again, they've been proven wrong by entrepreneurs who have soared after their time on the show. There have been times where these billionaires should have made a deal instead of turning down the pitch and product.

Number 5: Chef Big Shake

Inspired by his daughter's interest in vegetarianism and recognizing a market opportunity, Shawn Davis pitched his specialty seafood burger business to the sharks in 2011, asking for $200,000 for a 25% equity stake of the company. Davis wanted to tap into the vegetarian market with foods such as burgers that relied upon seafood rather than traditional meat sources.

Number 4: The Rocket Book

A lot of people still prefer to write, and a notebook is considered as a trusty companion. For these people, the notebook is the best way to take down their notes. But it can also be used as a journal that stores information. What do you do when you run out of pages to write in your book? You would usually have to store that one and get another notebook. After some time, you may end up growing a pile of books that's just too bulky.

Number 3: Siminoff and Doorbot

When Jamie Siminoff, now CEO of Ring, appeared on the show in 2013, he pitched the idea of Doorbot which was supposed to be a caller ID for your door. The doorbell with an integrated video camera that sends alerts and the video feed directly to the owner's smartphone. Homeowners are then able to see and speak with whoever is at the front door or ignore the visitor completely. This invention would later revolutionize the way that people look at a doorbell. His goal was to get a $700,000 kickstart to his idea of a video doorbell system. After initially referring to the system as Doorbot, it was later renamed to the Ring Doorbell.

Number 2: Kodiak Cakes

There are people who come on to Shark Tank knowing that they can get things to work only if they can get the right backing for their product. But oftentimes, the sharks aren't usually willing to bend or succumb to their demands. This was what happened when Joel Clark went on the show to pitch his business idea; Kodiak Cakes.
What really made this story special was because his business had originated from his mother. For some time, she actually went from door to door trying to sell people her special recipe pancake. He and his brother were inspired by this and decided to open a business where they sold her recipe and a range of other products. They had run the company for more than a decade but were unable to soar regardless of what they did or offers that they took. So, their next stop was at the Sharks.

Number 1: CoffeeMeetsBagel

Kang along with her sisters Ahreum and Soo pitched the Sharks on their women-focused dating app and were asking for $500,000 (in exchange for 5% equity in their company), which incorporates popular elements from the flash sale and social media sites. Every day at noon, CoffeeMeetsBagel users receive one match who is connected to them through a mutual friend via Facebook. Both parties must “like” each other in order to connect through the app.

That concept wowed the sharks, but things quickly took a turn when the sisters wouldn’t directly answer a question about how many people use the app. After some back-and-forth about why they wouldn’t provide a hard number, as well as questions regarding their business model, all the Sharks had backed off on making an offer. That was until Mark Cuban asked the trio at the last minute if they’d be willing to sell the company for $30 million -- the largest offer in the show’s history. You would think they would accept but they ended up rejecting it and transforming the company into a billion-dollar powerhouse.

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