In 2013, CEO of Ring (aka DoorBot) James Siminoff got on the show to talk about his bright idea. He invented a doorbell camera that goes by the name of DoorBot. Ring was already one of the most popular home security systems in the U.S. when he got on the show, which is why the sharks never actually wound up investing.
Looks like he didn’t need them in the end as James recently sold Ring to Amazon for $1.1 billion dollars! Mark Cuban said even after the sale went through that he would not invest in it. According to him, it’s overvalued.
Every billion-dollar idea has an origin story. But when Spencer Silver, an inventor for the manufacturer 3M came up with the idea of his sticky square papers, initially nobody really knew what to do with these things. People didn't really get the purpose of them. But that was soon about to change.
For several years, post-its were unknown to the rest of the world. But they soon got their fair share of exposure and the buzz surrounding these elegant reminders had an incredible snowball effect. These days, you'll find post-its in nearly every office around the world - and plenty of homes too.
Of course, this is one invention that got big long before "Shark Tank" was even a thing. During the prohibition era, American businesses had to find alternative ways to make products without any alcohol, and naturally, people were seeking another kind of thrill. This paved the way for the world's most iconic soft drink - Coca Cola.
When an Atlanta-based pharmacist named John S. Pemberton invented his famous "Wine Cocoa," which served as a cure for headaches, people fell for the new drink. The real kick came from certain ingredients. He replaced alcohol with sugars, carbonated water, and extracts from the coca leaf and kola nut.
Mission Belt - $25 million
Forget the old traditional belt that simply fastens with a buckle and holes, the Mission Belt is revolutionizing the way that people are getting dressed from the waist down. This belt has a special clasp instead. The company's name comes from its mission of helping communities with micro-loans for small business ventures.
It was Daymond who saw the potential in this company and helped the enthusiastic founders Zac Holzapfel and Jeff Jensen make their dreams come true. With a helpful investment and hard work, Mission Belt has made more than $25 million since it aired on the show. Now that is tight!
FiberFix - $50 million
Do you have leaks or tears that are too serious for mere duct tape? You may need to invest in some more heavy-duty materials, like FiberFix. Thanks to Eric Child and Spencer Quinn, this impressive adhesive hardens into a seal that is virtually impenetrable. It's waterproof, extremely strong and completely durable for fixing pretty much anything.
And this was all made very clearly to the Sharks. Lori, who clearly loves products that can be best showcased on the famous infomercial network jumped at the chance to invest in this useful product. FiberFix raked in $50 million since the Shark Tank partnership.