After months of compiling notes and practicing pitches, contestants walk down a long, cavernous hallway, pass through wood-grain double doors and enter the scorching cone of the spotlight. The piercing gaze of their interrogators — who seem more like executioners — is hotter still .
Most contestants probably mutter to themselves “How did I get here?”
Millions of viewers watching at home wonder the same thing.
But these brave entrepreneurs have already passed the first test and figured out how to get on “Shark Tank.”
(Full disclosure: it’s long and grueling.)
Fret not. The Penny Hoarder talked to two successful “Shark Tank” contestants to help demystify the process.
Dawoon Kang, CEO and cofounder of Coffee Meets Bagelpitched her business alongside her sister-cofounders Soo and Arum for season four. Coffee Meets Bagel is a dating app that combats what the founders see as a toxic, swipe-right dating culture by focusing on slow, meaningful relationships.
The Kang sisters didn’t walk away with a deal — they turned one down. Mark Cuban, the billionaire businessman and owner of the Dallas Mavericks, (in a rather controversial move because he was already “out”) asked the Kangs if they would sell their company for $30 million on the spot. They refused anyway.
Sara Margulis and her husband, Josh, appeared on season six to pitch Honey fundtheir wedding-gift and honeymoon registry website. Honeyfund is the brainchild of their own honeymoon experience: Josh built a website for his family and friends to crowdsource their dream honeymoon to Fiji.
The Sharks loved the idea, and the Margulises walked out with a non-equity deal from the Canadian multimillionaire Kevin O’Leary, aka Mr. Wonderful.
How to Get on ‘Shark Tank’
After a decade and more than 300 episodes, the entrepreneur-themed reality show is still going strong. Ratings have waned in recent years, but September’s season 14 premiere still drew in about 4.7 million…