Shark Tank

Shark Tank
Name	Shark Tank
Genre	Reality television
Creator	Mark Burnett
Based on	Dragons' Den
Narrated by	Phil Crowley
Country	United States
Language	English
Num seasons	15
Num episodes	400+
Runtime	42 minutes
Network	ABC
First aired	August 9, 2009

Shark Tank is an American reality television series that features aspiring entrepreneurs pitching their business ideas to a panel of wealthy investors, known as "sharks," in hopes of securing financial backing. The show, which premiered on the ABC network in 2009, is an adaptation of the international format Dragons' Den. It has become a cultural phenomenon, credited with popularizing entrepreneurship and providing a platform for innovative products and companies to achieve mainstream success. The series is produced by Mark Burnett and is filmed in Culver City, California.

Concept and History

The core concept involves entrepreneurs presenting their businesses to a panel of potential investors, negotiating for capital in exchange for equity or royalty agreements. The format originated with the Japanese show Money Tigers before being popularized by the British CBC series Dragons' Den. American producer Mark Burnett secured the rights and developed the adaptation for ABC, with the first season airing in August 2009. The show's title refers to the aggressive, high-stakes negotiation environment, likening the investors to predatory sharks. Its success has spawned numerous international versions and specials, including Shark Tank: Beyond the Tank, which followed up on deals made.

Format

Each episode typically features multiple entrepreneurs who give a brief presentation and product demonstration. The sharks, including figures like Barbara Corcoran, Mark Cuban, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O'Leary, then ask probing questions about the business's financial statements, valuation, and patent status. Entrepreneurs must state the specific amount of money they are seeking and the percentage of equity they are offering. The sharks may make counter-offers, negotiate terms, or opt out by declaring "I'm out." A deal is finalized with a handshake if both parties agree. The show is narrated by Phil Crowley and often includes commentary from the investors after pitches conclude.

Production

The series is produced by Mark Burnett's production company, United Artists Media Group, and is filmed at Sony Pictures Studios in Culver City, California. The set is designed to resemble a sleek, modern boardroom. While the negotiations are authentic and legally binding, some due diligence occurs after filming, and not all deals close as televised. The production team scouts entrepreneurs from a vast pool of applicants, and the sharks themselves are involved in selecting which pitches air. The show's success led to the creation of companion series like Shark Tank: Beyond the Tank and has influenced programming on networks like CNBC.

Impact and Cultural Significance

The program has had a substantial impact on popular culture and the business landscape, inspiring a new wave of entrepreneurship across the United States. It is frequently used as an educational tool in business schools and has been praised by figures like President Barack Obama for promoting innovation. The show has also been a ratings success for ABC, often winning its Friday night time slot and receiving several Primetime Emmy Award nominations. Its format and catchphrases, such as "For that reason, I'm out," have entered the public lexicon, and it has boosted the public profiles of its investor stars, particularly Mark Cuban and Lori Greiner.

Episodes and Seasons

The series premiered on August 9, 2009, with a six-episode first season. As of 2024, it has aired over 400 episodes across 15 seasons, with renewal through a 16th season confirmed. Special episodes, including themed shows for Halloween or featuring celebrity guest sharks like Alex Rodriguez and Kendra Scott, are common. The show's scheduling has included runs on Sunday night and Friday night, and it frequently serves as a lead-in to other ABC programming like 20/20. Landmark episodes, such as the one featuring Scrub Daddy, are among the most-watched in the series' history.

Notable Deals and Entrepreneurs

Several businesses that secured deals have achieved remarkable success, becoming household names. These include Scrub Daddy, a flexible sponge that became the highest-grossing product, and Bombas, a sock company with a philanthropic model. Other standout deals involve Squatty Potty, Tipsy Elves, and Ring, which was later acquired by Amazon for over $1 billion. Notable entrepreneurs who appeared include Jamie Siminoff of Ring and Trishna Patel of Bala Bangles. Some pitches, like that for Cousins Maine Lobster, have led to extensive franchising empires, while others, such as the rejection of Kodiak Cakes, have become famous for the sharks' missed opportunities.

Category:American reality television series Category:2009 American television series debuts Category:ABC network shows