Shark Tank is a reality TV series that has aired for 15 seasons that showcases budding entrepreneurs pitching their business ideas, products, or services to a panel of sharks. The sharks' on-screen personalities, combined with their real-world business expertise, make the show both entertaining and insightful.
The show that has improved the lives of business owners and consumers of new and unique products. Many successful business owners need a mentor to take the final leap and grow their profits to massive numbers. However, some of them only require the exposure that the show provides. Let's look into how the first-ever deal on Shark Tank played out.
Tod Wilson made the first-ever pitch on the first episode of season 1 on Shark Tank . He pitched his business, Mr. Tod's Pies, at a staggering valuation of $4.6 million. He asked for $460,000 for 10% of his business while only making $150,000 per year. Even though he overvalued his business so much, the sharks wanted a piece of the pie. Barbara Corcoran and Daymond John offered $230,000 each for a total of 50% of the business which Wilson accepted.
Kevin O'Leary likes to say he doesn't get emotional about money, he just wants to make more of it. Tod Wilson follows that philosophy and tries to do what's best for his business, get exposure by airing on TV.
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