5 Rejected Shark Tank Pitches That MADE MILLIONS!

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5 Rejected Shark Tank Pitches That Made Millions

Today we are going to be talking about five rejected Shark Tank pitches that made millions!

Number 5 “Bouq”

John Tabis had a humble idea. He was tired of how expensive and poorly delivered flower bouquets could be. So he started his own company. Bouq was a flower delivery service that cut out the middlemen and delivered fresh flowers quickly and affordably. The idea was simple and much needed, but the investors didn’t.

Number 4 “Echo Valley Meats”

Shark Tank has seen all kinds of businesses. In the case of Echo Valley Meats, Dave Alwan brought in a pitch for selling meat in a delicious and simple way. Of course, food is an easy favorite, and Alwan gave a detailed pitch on how he planned to turn this business into something big. His plan included solid delivery strategies and the use of an online platform. All of this was making his business seem flawless. He was only asking for $150k, yet the investors didn’t make an offer due to the fact there was too much competition. Alwan left with no deals struck, but used the tips to expand his business. He also gained a lot more customers thanks to his appearance on the show! Currently, he is making around $1.4 million a year!

Number 3 “CoatChex”

Derek Pacque came across an issue and made lots of money with a solution. He wanted a quick and easy way to keep your coats safe when you came into a bar or restaurant, so he invented CoatChex! He tested this out and made $50k in just a couple months! The way it works is that a partner location will have a CoatChex kiosk where patrons will leave their coats for a small fee. Sort of like a valet service for jackets. The investors gave a couple offers, but Pacque felt that these offers weren’t worthy enough. He left the show with no deals, but went on to have a highly successful app! CoatChex now has 50 clients! Smart move!

Number 2 “Scan”

Scan was a neat idea, brought onto the show by Garrett Gee. The idea was that you could scan a QR code with your phone and find information from a product, such as prices and discounts. The idea was smart, but Gee mentioned that he already had $8 million invested into it. He then went on to claim his software was worth $20 million! The investors didn’t feel it was worth that much, so they rejected him. He was lucky to be rejected, because Snapchat eventually bought his app and all of its technological aspects! They use his QR scanner to allow users of the app to quickly add others with just a scan. Gee was lucky, because Snapchat gave him a cool $54 million!

Number 1 “Coffee Meets Bagel”

Sometimes in business, you have to make risky decisions that could cost you your business. For the Kang sisters, they did just that. These sisters wanted a matchmaking app that focused on quality rather than quantity. They wanted matches to be genuine, and not just have user stockpile a bunch of people in the hopes they will get lucky. The app was very promising, and Mark Cuban saw a future with it. So what did he do? He gave the highest offer on the show at that point! He was willing to give $30 million in exchange for the entire company! The Kang sister shockingly refused. To the average viewer, that seems like a missed chance, but from a business standpoint, they made the right decision! Similar apps, such as the highly popular Tinder, can be valued at around $1 billion! So the sisters left the show empty handed and expanded the app with the help of outside fundings. They made a very wise decision because now the company is worth an estimated $600 million!

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