Want A Deal? These ‘Shark Tank’ Investors Make The Most On-Air Offers
The drama of Shark Tank is laid out in the introduction to every episode. If the sharks see an idea they like, they will fight each other for a piece. The result is numerous offers, often in response to a single pitch. Recently, Digital Exits reviewed the first five seasons of the program and revealed who on the Shark Tank panel is most likely to throw out an offer.
The top spot is shared between Kevin O’Leary and Lori Greiner. Both sharks made an offer 31 percent of the time. Those offers were not always accepted by the entrepreneurs, of course. As far as closing on-air deals, a D magazine profile of Mark Cuban from March, 2014, claimed the Mavericks owner had made more deals and earned more money than any of the other sharks.
According to the Digital Exits data, here’s the list of the sharks in order of their tendency to bite.
- Lori Greiner – 31 percent
- Kevin O’Leary – 31 percent
- Guest shark – 27 percent
- Robert Herjavec – 25 percent
- Mark Cuban – 24 percent
- Barbara Corcoran – 22 percent
- Daymond John – 22 percent
- Kevin Harrington – 15 percent
The statistics do not take into account any Shark Tank pitches that were filmed but never aired. The show will soon wrap up its sixth season on ABC and this year’s deals were not included.
Current viewers of the program may or may not remember Harrington, a member of the original panel. Harrington is known primarily as the purveyor of the “As Seen on TV” brands. A Daily Beast article from 2012 approved of the decision to replace Harrington with Mark Cuban, describing Harrington as someone “who rarely made any offers.”
Lori Greiner and Kevin O’Leary have very different investment styles. Greiner, known as the “Queen of QVC,” often invests in simple products with a vast appeal. Her choices are often criticized by the other sharks, but she has the sales figures to back up her instincts. Business Insider reported Monday that Drop Stop, a piece of rubber that prevents items from falling between car seats, has earned $12 million in sales over three years.
Greiner took equity in Drop Stop. O’Leary had offered to invest in exchange for a hefty royalty. True to the tease at the beginning of each Shark Tank episode, the segment featured O’Leary and Greiner attempting to convince the entrepreneurs theirs was the better deal.
While Greiner may make money taking equity stakes in product-focused companies, O’Leary is a fan of the royalty deal. He recently teased Robert Herjavec on Twitter when his colleague seemed to take a page from his book.
.@RobertHervajec making a royalty deal?! Welcome to the dark side. I’ve never been so proud!! #SharkTank #TwinZPillow
— Kevin O’Leary (@kevinolearytv) March 7, 2015
Shark Tank airs at 8 p.m. Friday nights on ABC. Starting May 1, its old 9 p.m. time slot will be taken over by Beyond the Tank, which features updates on past Shark Tank pitchers.
[Main image: Shark Tank cast August 4, 2013, Beverly Hills, California: Getty]
