Appearing on Shark Tank can thrust small companies into the spotlight and send their sales through the roof. Boston entrepreneurs regularly go on the show to pitch their companies, from greeting card giant Lovepop, whose episode aired in 2015, to Behave Bras, which just appeared this year.
“Overall, our Shark Tank appearance this year in 2022 has been like being on a rocket ship to space (think Blue Origin),” Behave Bras founder Athena Kasvikis told BostInno in an email.
Kasvikis is not alone. Nabbing a deal on the business reality television show is good for business—if you can keep up with the demand and continue scaling after the initial success.
BostInno recently caught up with Boston-area companies who appeared on the show to see how the business has changed since their time in the Tank.
Behave Bras (episode aired 2022)
Business has been booming for Behave Bras since it landed a deal with Kevin O’Leary, Kasvikis said.
She appeared on a March 11 episode of Shark Tank pitching her patented bras intended for women with DD cups and larger. The Attleboro-based entrepreneur created Stayz, stretchy fabric pieces inside each cup that keep breasts supported when standing and in place when the wearer is lying down.
When the Shark Tank episode was filmed in September 2021, Kasvikis said Behave Bras had $110,000 in sales over 18 months and an 87% profit margin on the bras. Each bra costs $75.
Kasvikis accepted O’Leary’s offer for $150,000 for 20% equity on the show, but told BostInno that they’re still finalizing the terms of the deal.
Kasvikis said the influx of investment and revenue since airing on Shark Tank allowed the company to expand in several ways. The startup has two new product lines in development and set to launch in 2023. Behave Bras hired three new employees and two part-time support staff, and has plans to hire two more full-time people next year.
“Our success has sparked amazing opportunities, and we're currently in talks with a huge new retailer for 2023 that would greatly expand our reach outside of selling just on behavebras.com,” Kasvikis said.
HelloPrenup (episode aired 2021)
Julia Rodgers, a Boston family law attorney, started HelloPrenup in 2020 as an online platform for couples to create a quick, inexpensive prenup. After bringing on her technical co-founder Sarabeth Jaffe, the pair appeared on Shark Tank and landed a deal with two investors.
At the time, HelloPrenup had written only around 25 prenups. But guest investor Nirav Tolia, co-founder of Nextdoor, saw the vision, and offered $150,000 for 30% of the company. Kevin O'Leary ultimately joined him in the deal. The deal changed since their Shark Tank appearance, Rodgers said, but she declined to provide specific details.
Rodgers said that as of this week, HelloPrenup has generated over 3,000 prenups. The company is now serving people in 32 states. Rodger said the majority of their customers are millennials in their early 30s.
Over the summer, Brian Liu, the founder of LegalZoom, joined HelloPrenup as an investor and advisor.
The company is also expanding its team. Rodger said they’ve added five full-time employees, bringing their headcount to eight.
The Matte (episode aired 2021)
Acton entrepreneur Melissa Clayton appeared on a Shark Tank episode to snag an investor for her foldable sink cover, called The Matte, that she said was a “must-have essential” for anyone who has limited bathroom space or is always traveling.
At the time, Clayton said the company sold $20,000 worth of the product in the 30 days prior to the Shark Tank appearance and $200,000 in its three years since launch.
Clayton ultimately accepted Lori Greiner’s offer of $100,000 for 33.3% equity in her company.
Clayton appeared to be largely mum about The Matte on social media in the last few months. She did not respond to a request for comment.
However, Clayton’s other business Tiny Tags is generating headlines. The custom-jewelry store for mothers has its designs worn by celebrities like Meryl Streep, Olivia Culpo and Hoda Kotb. Tiny Tags was also recently named to Inc. Magazine’s list of 5,000 fastest growing private companies.
DetraPel (episode aired in 2018)
DetraPel, which sells water and stain repellent treatments, became a Mark Cuban-backed startup after its appearance on Shark Tank. The company was founded by David Zamarin, then an undergraduate of Babson College.
The company said it saw around a $6,000 increase in website sales in the first ten hours after the episode aired.
Since then, a company representative said DetraPel’s products are now available online through Amazon and Walmart and were featured on QVC and Good Morning America. During the pandemic, the spokesperson said DetraPel used its Framingham manufacturing facility to make health care-related coatings. At the start of 2022, the company also launched its industrial brand, DetraPel Industrial, with a focus on paper, food packaging and textile coatings.
The company said it plans to fuel its growth into 2023 with a new $7 million Series A funding round that it will be announcing this month.
Alice's Table (episode aired in 2018)
This startup launched in 2015 as an online platform that brings women together by learning new skills around flower arrangement. Alice Rossiter Lewis, CEO and founder of Alice's Table and a resident of Brookline, landed a $250,000 deal with Mark Cuban and Lori Greiner, who took 10% equity in the company.
In a LinkedIn message, Rossiter Lewis said the company was acquired in January by 1-800-Flowers.com Inc., a floral and foods gift retailer and distribution company.
Besomebody (episode aired in 2016)
Boston-based CEO Kash Shaikh tried to sell the Sharks on his app Besomebody that allowed users to sign up for classes or experiences with instructors in “passions” like fitness, team building and art.
Ultimately, no Sharks invested. Mark Cuban told Shaikh he was full of “nonsense” and more interested in generating buzz than a business.
Just a few months later, Shaikh announced that the app would be shutting down. It doesn’t always take a Shark to turn a startup into a rapidly scaling company, but it doesn’t hurt.
Lovepop (episode aired in 2015)
This startup is one of the most well-known Boston companies to emerge from Shark Tank. The maker of 3D pop-up greeting cards came onto the show with $300,000 in revenue during its first first year and a half of business. Kevin O’Leary seemed to see dollar signs when he realized how well the card company would mesh with his investments in the wedding industry. He and Lovepop agreed to a deal of $300,000 for a 15% stake in the company.
In 2016, Lovepop announced a $6 million Series A round backed by O'Leary among other investors. In 2018, the company raised more funds from the likes of Wayfair CEO and co-founder Niraj Shah, Crashlytics founder Wayne Chang, DraftKings CEO and co-founder Jason Robins, and Bob White of Bain Capital.
The company has also expanded beyond greeting cards, including selling flower bouquets, stationery and ornaments.
