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OnShark Tankviewers have witnessed several interesting yet often times weird products. But when it comes to investing in such products, Kevin O’Leary aka Mr. Wonderful would be the toughest to please. The venture capitalist is known for his blunt and serious demeanor, who’s not at all afraid to ask tough questions. Most times his decision about a particular product is spot on.
But during oneShark Tankpitch, he missed investing in a product for cats that went on to earn millions in sales. While it was a missed opportunity for O’Leary, it became a success story for Kevin Harrington, who eventually invested in the product.
Despite Kevin O’Leary’s Refusal This One Pet Product Made Millions in Sales
Rebecca Rescate took theShark Tankstage in 2011 to present her company CitiKitty in front of the five venture capitalists as well as the fans. CitiKitty is a revolutionary cat training system that was made in order to solve the mess as well as the hassle of cleaning out litter boxes.
With her amazing presentation, Rescate was able to grab the attention of the Sharks, and her products eco-friendly and practical design also helped CitiKitty to stand out. She had askedfor $100,000 for 15% equityin her company and explained how her product worked. She used a plastic tray under the toilet bowl, which the cat will use avoiding the traditional litter box.
After this,Kevin O’Learyimmediately said“Oh that’s disgusting.”After a while, he also added“If a cat ever gave me a problem and I was in a high apartment I wouldn’t have a problem with that cat five minutes later. ”This was his reasoningfor rejecting the product, but it also gave Kevin Harrington a good opportunity to invest in CitiKitty as he immediately saw the potential in her company.
The Most Successful Shark Tank Product Ever isn’t Backed by Mark Cuban or Kevin O’Leary: Daymond John Pushed it to $1.3 Billion in Sales
He offered $100,000 for 20% equity, which Rebecca Rescate immediately accepted, which would later prove to be a great partnership. Fast forward to November 2022, CitiKitty hasearned $16 million in lifetime sales, a decision that O’Leary might be regretting now.
Kevin O’Leary Details Why Small Choices Lead to Big Business Decisions
Kevin O’Leary has never shied away from sharing his business as wellas political views. In one such moment, he recently detailed his thoughts on how small decisions can create big opportunities, that too based on his years of investing.
In a social media post, he detailed viaYahoo“The tiny decisions that make millions end up having a huge impact in your life. ”He then continued to reflect on his stint onShark Tankby adding“You have to invest in a lot of deals”and what seems like a small deal turns up to be a huge success five years down the line.
Shark Tank Had 1 Pitch So Lucrative Even the Generally Vicious Kevin O’Leary Chose to Team up With Mark Cuban and Rest 3 Sharks for a Piece of the Equity Pie
His investments on the show also followed this principle with companies like Wicked Good Cupcakes, LovePop, and Grooveback under his umbrella. These companies started out as small ventures, but later turned out to be major success stories. The latter became one of his most sought-after companies when Shutterfly acquired it for $14.5 million.
You can watch all the seasons ofShark Tankon Peacock.
Sakshi Singh
Articles Published :1434
Sakshi Singh has written over 1,300 entertainment articles, mostly about Netflix shows and reality TV. She’s spent the last two years covering everything from surprise engagements to shocking eliminations and previously wrote for Essentially Sports in their Netflix Junkie division. A self-proclaimed reality TV addict, Sakshi has watched all 48 seasons of Survivor and never misses a new dating or competition series. She loves watching how strangers meet, fall in love, team up, or betray each other - it’s the mix of strategy and drama that keeps her hooked. When she’s not glued to a reality show, she’s usually watching a crime thriller or tracking the next big streaming hit.
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