“Shark Tank” is an ABC show in which entrepreneurs pitch their business to industry giants to earn investments. Several Wisconsin startups have appeared on “Shark Tank” to jumpstart their business on reality television. Here’s a look at them:
Hug Sleep:
The Milwaukee-based startup Hug Sleep presented recently its product, a twist on a weighted blanket for troubled sleepers called a “Sleep Pod,” to the sharks. Founders Matt Mundt and his wife Angie Cupper originally asked for a $150,000 investment in exchange for a 10 percent stake in the company and received offers from all five sharks during the episode. They closed a deal with Mark Cuban and Lori Greiner, ending up with a $300,000 investment in exchange for a 20 percent stake.
Just the Cheese
The Reeseville-based cheese snack company Just the Cheese garnered offers from several of the sharks, but founder David Scharfman left the show without accepting any of them. The company impressed the sharks with its early figures—$3.5 million in its first year in 2018 and 400-700 boxes of cheese snacks sold on Amazon per day. Both Kevin O’Leary and Mark Cuban presented offers, but Scharfman politely declined, not wanting to give up the level of equity they were asking for.
The Kombucha Shop
The Kombucha Shop landed a deal with Barbara Corcoran and Sara Blakely during its appearance on the show. Founded in 2014, the Madison-based online store sells kits for home-brewing kombucha, a fermented tea drink. Corcoran and Blakely invested $200,000 in the business for 10 percent equity, plus they provided a $150,000 line of credit.
Hyde
The Milwaukee-based company and winner of the Wisconsin Governor’s Business Plan contest, Hyde, appeared on “Shark Tank” in 2018. Hyde’s signature product is a thin, versatile and compact life jacket called the Wingman. However, the team of Pat Hughes and Mike Fox did not end up snagging a deal.
MobCraft Beer
MobCraft Beer, a brewing company that boasts beers with exotic and unusual ingredients, was the first Wisconsin startup to appear on the show. The company, now located in Milwaukee, creates beers suggested and put to a vote online by customers. Though it did not leave with a deal from any of the sharks, MobCraft increased customer engagement and tripled its orders following their appearance on Shark Tank.
