The initial version of “Shark Tank” aired in Japan in 2001. it was titled “Money Tigers.” The show then took over within the UK and was renamed “Dragons’ Den.” It was in the year 2006 that Canada created their own show with the same name. This post is all about shark tank facts!!
Shark Tank is quite an epic TV Show with businessmen and some intriguing business ideas! If you are a fan, then you should surely not miss out on these incredible shark tank facts that remained unrevealed for long!
Shark Tank Facts
1.) Each Shark Tank contestant is required to see an on-set psychologist following the filming of their episode.
2. “They have to make sure we haven’t scarred them for life,” Mark Cuban states.
3.) Sometimes, the Sharks might pull out of an agreement after finding out that the contestant was lying about the company’s financials in their presentation.
4.) However, according to Mark Cuban, it’s usually contestants that pull out of deals: “I’d say 90 percent of times, the entrepreneur altered the terms of the agreement. We weren’t backing out.”
5.) 5. Sharks wear earpieces that are hidden when they’re filming. If the contestant has an emotional or unique backstory producers may secretly request an Shark to inquire about the story.
6) However, Mark Cuban says he doesn’t particularly like the backstories “I hate the backstory…because it’s usually a way to hide the realities of the business.”
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7.) The most popular item of Shark Tank history is the Scrub Daddy, which has made more than $75 million in sales and over 1 million copies. The show’s host Lori Greiner purchased 20% of the company for $200,000.
8.) Every presentation in Shark Tank is WAY longer than the ones you see on television. The typical pitch goes on for a full at least an hour before being cut down to about 8 minutes.
9) The schedule for shooting is packed to be completed as fast as is feasible. The entire season could be completed in just 17 days The Sharks received anywhere from six to eight pitches per day.
10) Because every show on Shark Tank is compiled of segments filmed on different days, the Sharks must wear the same outfits for the entire time to avoid any continuity issues.
11.) A pitch that was the longest during Shark Tank history came from Michael Tseng who founded Plate Topper. The pitch ran for two and one-half hours. Mark Cuban says it was one of the most impressive pitches he’s ever had.
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12) The majority of the information taken out of the television broadcast is boring financial information. Sharks must be aware of them, but viewers do not.
13) The company that produced Shark Tank used to require contestants to pay 5 percent capital or 2 percent of earnings of their companies to appear as contestants on Shark Tank. Mark Cuban threatened to quit due to this rule, and the producers threw it out.
14.) Robert Herjavec has said that shooting days can be exhausting for those Sharks: “We’re cold, we’re hungry, we’re miserable.”
15) The moment contestants step onto the stage, producers require them to participate in an extended “stare-down” with the Sharks who look at one another in complete silence for up to one minute. After the stare-down has ended the contestants start their pitch. A reporter from D Magazine once visited the stage and described the look-down being “excruciating to watch.”
16) 16) Sharks don’t have any details about the businesses prior to seeing the pitches. They are completely without knowing anything about the companies.
17.) Based on Mark Cuban, about 20 percent of pitches that they shoot are never even made it onto the air.
18) Do you know the huge hallway that contestants must go through to get to the tank? The walls of the hallway are constructed in an angle that makes the illusion that the hallway is more long than it actually is.
19.) Shark Tank is filmed on the Sony Pictures soundstage in Los Angeles. It’s the same studio that was used to shoot parts in The Wizard of Oz.
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20) Contestants are sometimes on the show , even if they do not wish to make a deal for exposure to national television. The Sharks call them “gold diggers,” and they’ve begun broadcasting them on the air.
21) The first Shark Tank franchise aired in Japan with the title Money Tigers. The show later moved to UK and was changed to Dragon’s Den. It was later transferred to Canada. Then, it made its way to in the US as Shark Tank.
22) Robert Herjavec and Kevin O’Leary first appeared on Canadian Dragon’s Den before getting placed as contestants on Shark Tank.
23) In Season 1 of the show, viewers were very low. Daymond John even claimed that the show had been “on the verge of being canceled.” The ratings increased in Season 2 as Mark Cuban joined the cast (initially as a Shark guest).
24) According to former contestant Dave Vasen, you only have one shot to complete your pitch. No Reshoots permitted. “If you mess up, you mess up. If it goes off course, tough luck. No do-overs.”
25) Vasen also claims that contestants are bound to secrecy about the results of their pitch: “If any details are leaked, the production team can just cut you from the show (and will).”
26) Have you ever wondered why so many update segments include Barbara Corcoran’s businesses? All Sharks have the capability to present updates to producers, however, Barbara declares herself to be”the “queen” of them, she told Business Insider: “I know how to pitch an update better than anyone else! Get it purchased and booked.”
27) NBA player Deron Williams says he didn’t sign with the Dallas Mavericks because he felt Mark Cuban was too busy filming Shark Tank to talk to him.
28) Guest Shark Chris Sacca says that producers faced a challenge making his introduction segment of the show. It was planned to feature him in a mansion driving a sport car on an aircraft, or in a private planehowever, he did not own all of those things.
29) In the beginning episodes, the Sharks were sitting behind a high news desk filled with money on top. Producers later decided to set them in chairs. Sharks in chairs to create a more intimate atmosphere for the pitch.
30) Producers are now requiring contestants to sign the “no-shop” clause in their contract, which basically means they will not use an offer they receive on Shark Tank to leverage a better deal elsewhere. In the words of Barbara Corcoran, this was occurring “all the time.”
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