Utah Companies Who Struck Gold On Shark Tank
Bobby Edwards and his mother Judy Edwards came into the Shark Tank with a way to help you go #2. They ended up striking a deal with Lori for $350,000 for 10% of the company. The company was acquired for $31.1 million by Aterian, a publicly traded consumer products company in May of 2021. Lifetime, Squatty Potty has done OVER $250,000,000 in sales! Not too shabby for a little St. George company!
A Korean BBQ restaurant that started out as a food truck in Salt Lake City walked into the Shark Tank and dazzled everyone with their food. They reached a deal with Mark Cuban for $1,000,000 for 5% of the company. Cupbop is now in over 45 locations in the USA and over 100 locations in Indonesia.
Entrepreneur Nathan Holzapfel started Mission Belt in 2012. A belt with no holes. A zip-tie style belt. It was probably based on the weight fluctuations someone would experience while serving their LDS Mission. $1 from each sale was going to fund Kiva.com to people battling hunger all over the world. Nathan partnered with Daymond for $50,000 for 37.5% of the company. Mission Belt went on to sale $180,000 the night the episode aired and over $1,000,000 that month. However in 2021, Nathan was arrested and charged with two counts of fraud. Apparently, he tricked a woman he was dating to sign her house over to a company he owned, then sold the house without telling her to pay off debts. THEN he defrauded another girlfriend out of $50,000, then sold her car and AR15 without giving her the money. Then in January of 2022, a THIRD victim came forward after Nathan persuaded her to write him a check for $100,000 to invest in a business. He took that money and spent it on other things. NOW, he's been charged with more fraud and multiple counts of sexual abuse. MY GOODNESS!
Fiber Fix is a "Super Tape" that is 100x stronger than Duct Tape! It's a combination of duct tape and epoxy with ZERO MESS! It's heat-resistant, cold-resistant, and non-toxic. It can fix a bike, and even pipes in your house. Lori bought in to Fiber Fix for $120,000 for 12% equity. Fiber Fix did $40,000,000 in sales in the 4 years since airing, in 2012. The current value of Fiber Fix is unknown.
Enso Rings are wedding rings that have the ability to break away under pressure to save your fingers from being torn off in accidents. Built for people that work out, CrossFit, firefighters, police, construction, etc. They accepted Robert's offer of $500,000 for 15% equity of the company. They've now done over $23,000,000 in sales!
One of the most interesting Shark Tank products also came from Utah: PowerPot. PowerPot works as a cooking pot, but with its built-in thermoelectric technology. It has the ability to charge phones and other electric devices. They were able to get Mark Cuban for $250,000 for 12% plus 3% in advisory options and a seat on the Board of Directors. In 2020, the company that created PowerPot, Power Practical, was bought by Thrasio for an unknown amount. Today, the PowerPot is nowhere to be found.
Kisstixx is a lip balm all about creating chemistry within every kiss. One person wears one flavor, while the other person wears a different, complimenting flavor, so when you kiss you get an explosion of flavors. They accepted Marks offer of $200,000 for 40% of the company. Kisstixx was in K-Mart, Harmon's, Kroger, and Walgreens... and Now, sadly, they are nowhere to be found.
Wesley Laporte and Dan Barnes stepped into the Shark Tank with PhoneSoap, a device that allows you to charge your phone while also sanitizing the phone with UV light. They accepted Lori's deal of $300,000 for 10% equity. Today, PhoneSoap has ANNUAL revenue of $13,500,000! WOW!
Chapul Energy Bars:
Chapul Cricket Energy Bars was a very unique idea on Shark Tank. It's an energy bar with an incredibly sustainable source... CRICKETS ground into a flour. Apparently, Crickets are extremely high in protein. The founder, Pat Crowley struck a deal with Mark for $50,000 for 15% equity. Chapul Bars were making an annual income of $1,500,000! But, today, you cannot find any Chapul bars anywhere, after their packaging company went belly-up.