Over the past decade, star of ABC's"Shark Tank" Kevin O'Leary has invested millions of dollars in innovative companies pitched by promising entrepreneurs. He's invested in everything from padded underwear to glue, but for O'Leary, two particular companies stand out from the rest.
"Plated, one of my deals, got sold to Albertsons, the grocery chain, for $300 million dollars. That's the biggest exit in 'Shark Tank' history," he told CNBC Make It in October. The other big"Shark Tank" winner in O'Leary's portfolio is Groovebook from season 5, he says. The company was created by Brian and Julie Whiteman and is a photo-printing app subscription service. The company sold to Shutterfly for $14.5 million in November 2014. In the Tank, O'Leary and Cuban invested $150,000 total for 80 percent of licensing rights.
A decade in on"Shark Tank," O'Leary says the investors often have around 30 to 40 companies in their portfolios at any one time, with a third typically undergoing acquisition. Many of the"Shark Tank" companies that end up skyrocketing to success do so, in part, because of the exposure, he says.
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kevinolearytv MakeIt Places that used a tv show to get funding they wouldn't have been able to get. American business is now a reality show. How low have we sunk. This is what happens when banks consolidate and we loose diversity.
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