Shark Tank is an American business reality television series that premiered on August 9, 2009, on ABC. The show is the American franchise of the international format Dragons’ Den, which originated in Japan as Money Tigers in 2001. It shows entrepreneurs making business presentations to a panel of five investors or “sharks,” who decide whether to invest in their company.
The series has been a ratings success in its time slot. Winning the Primetime Emmy Award for Outstanding Structured Reality Program four times (2014–2017) in the first four years of that category’s existence. Prior to that (2012–13), it won Outstanding Reality Program.
On February 5, 2019, ABC renewed the series for an eleventh season, which premiered on September 29, 2019. ABC renewed the series for a twelfth season, which premiered on October 16, 2020. On May 13, 2021, ABC renewed the series for a thirteenth season, which premiered on October 8, 2021.
What Is Shark Tank About?
The show features a panel of investors called “sharks,” who decide whether to invest as entrepreneurs make business presentations on their company or product. The sharks often find weaknesses and faults in an entrepreneur’s valuation of their company, product, or business model. Some of the investors are usually kindhearted and try to soften the impact of rejection, like panel member Barbara Corcoran. While others such as Kevin O’Leary can be “brutal” and show “no patience even for tales of hardship”. The sharks get their income as cast stars of the show, but the money they invest is their own. The entrepreneur can make a handshake deal (gentleman’s agreement) on the show if a panel member feels interested. However, if all of the panel members opt out, the entrepreneur leaves empty-handed.
People say the show is to portray “the drama of pitch meetings and the interaction between the entrepreneurs and tycoons”. A pitch of around 45 minutes by a contestant is edited down to “a segment roughly 11 minutes long”. As of the 2018 season, about 40,000 companies apply each season with 158 getting to pitch the Sharks and 88 of those making it to air.
By now hundreds of products have got support and investment from these “sharks”. Examples are these some best weight loss products, especially the shark tank keto diet pills.