Shark Tank Is an American TV series about entrepreneurs pitching their new product or service to a group of very successful business people. If they like it then they may invest their own money in the new company.
It’s a similar format to Dragons Den shown in the UK, which is based on a Japanese show and lots of countries now have their own version.
Shark Tank is a big ratings success and won the Primetime Emmy Award for Outstanding Structured Reality Program three times. A ninth season is currently being planned.
However, all is not as it seems. The sharks don’t have long to assess the businesses, products and services in front of them and a lot has to be taken on trust.
Many, and possibly a majority, of the deals made on the show are never enacted, due to the investors’ vetting process following the deal, which includes product testing and the examination of the contestants’ personal and business financials. In some cases, the entrepreneurs themselves have backed out of the deal after admitting that they only wanted to appear on the show for the publicity.
Lots of spam and scam emails for products include “As Seen on Shark Tank” and use quotes from the programme.
These may or may not be fake but appearing on Shark Tank really does not prove anything is genuine. Being liked by the Sharks does not prove a product is any good.
Many of the deals made on Shark Tank never happen because due diligence shows up the entrepreneurs either lie about their situation or product or something goes wrong in tying up the deal.
So if you see something advertised as ‘As Seen on Shark Tank” then reach for the salt and certainly do not believe it.
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