10 Times Shark Tank Got CHEATED FOR MILLIONS!

the investors of Shark Tank have a lot of experience and usually have a good sense for spotting future successful businesses but there have been a number of occasions when they made the wrong call whether it's deals that were ultimately cancelled companies that went belly-up or people outright scamming them the Sharks have seen it all so let's dive right in and take a look at seven times Shark Tank got cheated for Millions about half of the deals that the Sharks make on television fall through once the camera stopped rolling with the entrepreneurs usually being the ones backing out one such deal that could have made Robert a lot of money had it not fallen apart after the show aired was the one he made with the stores in season eight it all started when doug stewart ripped when running in the dark one night after the incident he and his wife Renata came up with the idea of running shoes with rechargeable LED lights that led a portrayal and after their pitch Robert offered to invest two hundred and fifty thousand dollars in exchange for 15% of the company oh then Robert I accept your offer 250 after the show weird however the couple received offers from over 300 companies worldwide that would have bought their product which meant that they didn't need Roberts investment anymore and the deal fell through now taking that risk certainly paid off for the stores and they ended up selling their website later to make 1.5 million dollars in revenue in light of this success story Robert might have felt cheated out of some money though another deal that Robert Herjavec might have regrets about is the one he made with Megan Cummins as it also fell apart after the episode was filmed Cummins had presented her luxury soap company you smell soap to the Sharks and left with a $55,000 deal from Herjavec in exchange for 20% of her company as well as the promise of an annual salary of $50,000 after the show however Cummins claimed to have received a contract by Herjavec offering her $55,000 for half her company was she of course rejected and their deal was never closed instead she found a different investor and business started picking up before she eventually sold her company Desiree Estrada and Arlene Botticelli appeared on shark tank back in 2012 and introduced Google gear a brand of stylish motorcycle gear which still offers full protection they were seeking $300,000 for 15% stake in their company meaning they valued their business at nearly two million dollars the Sharks were impressed by the duo's idea but when they started asking questions they realized that even though the creator's presented a unique idea like many other entrepreneurs they did not have a clear business plan and as their pitch seemed to be headed towards total disaster it did not look like a deal would ever be made while Kevin went out right at the start the other sharks started tearing the entrepreneurs apart because of their ridiculous evaluation as well as their far-fetched marketing plan to start by trying to reach the European market what are you gonna do with my money well we're going to Europe that's not the right answer however Damon eventually offered $300,000 for 65% of the company but later withdrew from the deal after the market crashed he stayed on as a mentor and when the market eventually took off again he probably regretted withdrawing from the deal because gogo gear proved to be ridiculously profitable in the end the most audacious camera to ever appear in the show was probably Gayla Bentley the fashion designer behind Gayla Bentley fashion a line of chick clothing for the modern woman size 12 and up she pitched her business idea on Shark Tank during the show's first season where she claimed that she'd been making $500,000 in sales per year Bentley was looking for 250,000 dollars in exchange for a 50% stake in her company telling the Sharks that she needed the investment to open a flagship store in Houston Texas she eventually made a deal with Daymond John and Barbara Corcoran and after the episode was recorded the three worked out the details of the investment and Bentley eventually received the money however the Sharks subsequently never saw or heard from her again and the company closed within a month or two although the website is still online to this day it hasn't been touched since 2010 in 2013 four years after the shark tank episode aired Daymond John stated that this was the worst investment he ever made on the show he said that even though he thought gala was an amazing designer he and Corcoran haven't seen her since making the deal a year before the statement gala and her business partner and husband Russell Bentley had told their small business story on a segment on MSNBC's your business where her appearance in Shark Tank was not mentioned at all which makes this not only both Damon's in Barbara's worst investment ever but definitely also one of the worst failed deals and biggest ripoffs in the show's history this is not just a victory for Gayla Bentley it's a victory for modern woman for all sizes to have style dan Mackey entered the shark tank in DeShields first season to introduce his invention called chilled soda a truly healthy line of soda he told the sharks out the state of California had bath several sodas from the school campuses and brought an alternative drinks that weren't much healthier as they often contained even more sugar and calories than the sodas that had previously been banned because of that Mackey had decided to take action and invented a healthier alternative he stated that his chill soda was the Tricia's Ladin calories had no antioxidants contained vitamins and still tasted just like regular soda thank you we use something called agave nectar oh that was pretty good that's good and that's nutritious like honey but it's low glycemic he eventually made a deal with barbara corcoran who offered him $50,000 in exchange for its 20% stake in his company you are guilty of murdering money you're going to go to jail thank you but it seems like that wasn't enough as the Shell soda never got off the ground although you can find a professionally designed chill soda website with a bye chill button the website doesn't actually sell any cans of the healthy soda yet and considering it's been eight and a half years since Mackey appeared in Shark Tank it looks like Barbara may have just lost your money in this very deal while some entrepreneurs seem to have a long road ahead of themselves until their idea will turn into a successful business others appeared to have such clever ideas that it seems like things will just take care of themselves however even the seemingly best idea can turn out to be a failure as the following example proved after a lashe nelson was turned away at the door of a club feeling embarrassed in front of the girl that was with him he started working on a plan so that no one especially not himself would ever have to experience the social snub like this again in 2010 this idea had grown to be easy VIP a booking service for clubs that would guarantee a table no questions asked me for one hundred and fifty thousand dollars for 15% of his company he told the Sharks that with his website anyone could easily book a VIP table admission tickets or bottle service in advance after long negotiations nelson eventually made a deal with Mark Cuban and Daymond John who gave in one hundred and fifty thousand dollars for 30% of the company the celebrity investors even get Cuban American rapper Pitbull to agree to be the face of the company but ez VIP still turned out to be a failure the company's official website is down and the Facebook and Twitter accounts have not been updated since December 2014 so it seems like marks and Damon's investment was just money down the drain [Music] when the sister co-founders behind Everywhere's Becca Nelson and Nellie Brown fished their novelty sticker company to the Sharks during the sixth season all the investors seemed convinced that the business was headed towards failure the sisters were seeking $100,000 for 30% stake in their company that produces wearable fabric sticker accessories something that people wouldn't be interested in reusing according to the Sharks reusable we wearable tear proof residue free nobody cares hello after for investors dropped out of the deal Mark Cuban decided to make an offer of $200,000 for the whole company saying that they were lost and had no idea what they were doing Cuban apparently saw an opportunity to take the company's existing connections and reinvent the brand as an outlet for fan merchandise for his NBA team the Dallas Mavericks during an emotional conversation Nelson and brown decided to let go of their baby [Music] [Applause] [Music] better than nothing however after taking some time to think about it the sisters realized that they had made a rash decision being caught up in the moment and were actually not willing to sell the entire company so this on-camera deal made for some great television with the surprise offer and the subsequent tears but the deal never went through after the show and there might be a shark or two with some regrets about it thank you for checking this video outs and don't forget to smash that like button and also subscribe for new videos every day turn that Bell notification on and comment down below that she's subscribed and we'll make sure to reply and thank as many of you as we possibly can once again thank you for watching and see you next time [Music] [Music]

Channel: The Filmy

Views: 19,397

Rating: 4.2795029 out of 5

Keywords: entertainment, movie, tv show, shark tank, shark tank episodes, shark tank moments, shark tank funny moments, business, investing, millionaire, money, finance, venture capital, rich people, wealthy, businessman, kevin o leary, daymond john, barbara corcoran, lori greiner, robert herjavec, shark tank pitches, mark cuban

Id: JXt5sjJ90a8

Length: 10min 4sec (604 seconds)

Published: Sun Aug 18 2019