Barbara Corcoran’s 6 Smartest ‘Shark Tank’ Investments
Barbara Corcoran has invested in more than 80 companies on “Shark Tank.” They haven’t all been winners. But Corcoran’s best investments have more than made up for her losses on failed projects (just like her co-star Mark Cuban).
So how did she do it? Keep reading to find out.
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The Comfy
Corcoran names The Comfy as the best deal she has made in her 14-year run on “Shark Tank.” She paid $50,000 for a third of the business, which sells oversized wearable blankets.
In the years since, The Comfy has grown to become one of the most successful businesses in “Shark Tank” history. It has made Corcoran about $468 million since she acquired her stake in 2017.
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Daisy Cakes
There’s nothing like a great cake — especially when it’s homemade. That’s the idea that led Kim Nelson, the founder of Daisy Cake Bakery, to turn her family’s cake recipes into a business.
Nelson appeared on the show in 2011, when Corcoran offered her $50,000 for a 25% stake. She accepted and experienced remarkable growth soon after the episode aired.
According to Nelson, Daisy Cake completed around 2,000 orders in the year before appearing on “Shark Tank.” Within 24 hours of the episode airing, it matched that number in a single day.
Now, the company earns around $1.2 million in annual revenue, which has no doubt made Corcoran quite a bit of money.
Pipsnacks
Popcorn can be a great low-calorie snack. But traditional flavors get boring quickly. Sibling entrepreneurs Jeff and Jen Martin created Pipsnacks to address this. They appeared on “Shark Tank” in Season 6 and found a great collaborator in Corcoran.
Corcoran invested $200,000 for 10% of the company. She’s acted as a mentor since, helping the siblings grow their business rapidly.
The Martins say Pipsnacks had around $200,000 in sales the year before appearing on “Shark Tank.” Since then, their annual revenue has increased a ton. In an interview, Jeff said he expected the company’s revenue to go up by 800 to 900% in just a few short years.
Cousins Maine Lobster
When you think of grabbing a bite at a food truck, you probably don’t expect to see lobster on the menu. But maybe you’ve just never been to Cousins Maine Lobster — a food truck and restaurant that brings fresh lobsters from the shores of Maine to locations across the country in under 24 hours.
Cousins Sabin Lomac and Jim Tselikis came up with the business that started with a single food truck in Los Angeles. The duo appeared on “Shark Tank” in season four looking for support and struck a deal with Corcoran, who paid $55,000 for a 15% stake.
The business has exploded since then. Cousins Maine Lobster now has 50 food trucks and restaurants across 45 cities. These bring in about $50 million in annual sales.
Grace and Lace
Socks and fashion didn’t used to go hand in hand. But thanks to companies like Grace and Lace, you now see unique socks on feet everywhere.
The story of Grace and Lace starts with married founders Rick and Melissa Hinnant. They saw an opportunity to turn Melissa’s knitting into a profitable business and began selling her hand-knitted socks on Etsy.
By the time the couple appeared on “Shark Tank,” Grace and Lace had already sold more than 50,000 pairs of hand-knitted socks. Corcoran bought a 10% stake in the business for $179,000 with half the funds available as a line of credit.
Since Corcoran’s investment, Grace and Lace has increased its total revenue to almost $50 million. Even better, the Hinnants have used some of their profits to build 13 facilities for orphaned children.
Coverplay
It’s no secret that babies are messy. But the founders of Coverplay decided to do something about it. They created a unique protective cover for children’s play areas to help keep them clean for parents.
The founders appeared on “Shark Tank” in Season 1 of the show and secured a $350,000 investment from Corcoran for 40% of the company.
Since then, Coverplay says its business has grown quickly. Founder Amy Feldman says it’s become the largest manufacturer of play yard slipcovers in the world — and now has deals with Disney, cruise lines and other major companies.
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