20 Shark Tank companies that everyone was wrong about

Modified Nov 14, 2024 15:16 ET

Shark tank, source: instagram/@sharktankabc ; Ring Doorbell, source: ring.com ; The Bouqs Co., source: instagram/@thebouqsco

16) The Lip Bar

The Lip Bar products, source: thelipbar.com

The Lip Bar is another brand worth over 10 million dollars. It was initially rejected on Shark Tank when founder Melissa Butler proposed the idea of vegan and cruelty-free lip products. The Sharks were hesitant as beauty products are a very niche market, very hard to tap into. But, Melissa Butler built on the popularity she received on the show and used it as marketing. She sought investment from outside sources and today has a million-dollar brand built on ethical principles.

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Edited by Apoorva Jujjavarapu