Shark Tank’s biggest missed investment, the BlenderBottle, has now sold for $1 billion and is used by millions daily.
“Shark Tank” has been known for its high-stakes deals and the chance for entrepreneurs to make their big break.
However, not every pitch results in a deal, and some missed opportunities become legendary.
One of the most notable examples is the story of a product that was initially passed over by the show’s investors.
This product later sold for $1 billion and is now used by millions every day.
In a major oversight on the TV show “Shark Tank,” investors missed out on a huge opportunity.
This missed chance later resulted in a billion-dollar sale and daily use by millions.
Shark Tank’s biggest missed investment sold for $1B and used by millions daily
In 2013, a huge blunder, Sharks missed a game-changing chance. Now it’s worth billions.
Surprisingly, the company behind the now ubiquitous Ring doorbell made its debut on the Shark Tank stage under the name ‘DoorBot.’
Founder Jamie Siminoff sought a $700,000 investment for a 10% stake in the company, valuing ‘DoorBot’ at $7 million.
Following a transformation and a momentous deal, Ring was acquired by tech giant Amazon for a staggering billion dollars.
The acquisition gained momentum with basketball legend Shaquille O’Neal getting involved.
He secured an equity stake in 2016 and became a major spokesperson for the brand.
Did any of the Sharks propose an offer?
Among the Sharks, only Mark Cuban made an offer.
He showed interest but chose not to invest, saying he couldn’t see the company’s value reaching $80 or $90 million.
Mark Cuban, the former owner of the Dallas Mavericks and entertainment magnate said: “I like it, I think you’re going to do great.
But I’ve got to be able to say that when I jump in, I’m going to be able to add enough value that this company that’s worth $7 million could be worth $80 million, $90 million.
“I just don’t see that progression and for that reason I’m out.”
Kevin O’Leary, also known as ‘Mr. Wonderful,’ suggested a complicated deal with a loan and high royalties.
This offer was ultimately rejected by Siminoff.
Had O’Leary’s offer been accepted, his 5% equity stake would have translated into a windfall of $50 million.
Opting for a straightforward investment could have secured him a remarkable $100 million in equity for a mere $700,000.
Social media reactions
On social media, people shared their opinions on the matter.
Ring doorbell but Shaq seen it’s potential he became an investor, one user said.
Those sharks are full of themselves full of big mouth special O’Leary Mr Wonderful with lack of respect to help seekers, the second user commented.
The sharks don’t want to invest unless u have already made a pretty good profit, the third user said.
Believe it or not, prior to changing their name – the company behind the Ring doorbell appeared on Shark Tank, another wrote