These 10 startups asked for way too much in Shark Tank

Shark Tank is a potential turning point in the lives of entrepreneurs, but not every pitch lands a deal. Some impress the Sharks with great products, while others leave them shaken usually by more than expected valuations. It often leads to eye-rolls, snappy counterarguments, and instant rejections, once the entrepreneur comes in pitching big bucks for a minuscule percentage of their equity.

Many entrepreneurs tend to overestimate their business’s worth, hoping to capitalize on the Sharks' excitement. While some somehow manage to justify their wide-ranging valuation captions with decent sales and growth prospects, others completely miss the point. Presenting too much valuation can quickly doom a great pitch, whether due to overconfidence, inadequate financial management, or plain greed.

In this article, we look at 10 examples of startups with some expensive evaluations that entered Shark Tank; some managed to get deals despite extremely vague requests, while others crumbled into disarray and left empty-handed. A few even ended up turning the tables on the Sharks, succeeding after showtime, while others bombed terribly. Let's take a look at Shark Tank's biggest money grabs.

LARQ – $500,000 for 1% Equity

The entrepreneur pitched LARQ, a self-cleaning water bottle using UV-C LED technology, with a stunning $50 million valuation. Sharks seemed incredulous, strengthened by the visionary growth rates William managed to report—over $5 million in 10 months. While the funding request was greater than one should venture, he made a very rare $1.5 million cash sale for 4% equity from Kevin O'Leary and Lori Greiner. LARQ has since expanded into a complete hydration ecosystem that sells millions of bottles worldwide.

xCraft – $500,000 for 20% Equity

The startup specializing in high-speed drones xCraft sought to gain entry on Shark Tank with a request for $500,000 in exchange for 20%, making for a very low valuation of $2.5 million. What follows has never happened before Sharks( Mark Cuban, Lori Greiner, Kevin O'Leary, Daymond John, and Robert Herjavec) joined forces to present one counteroffer: $1.5 million for 25%. xCraft accepted the deal and subsequently was awarded a host of government and military contracts. While their original ask was modest enough, the whole bidding war between the Sharks launched this offer firmly in record profits territory in the show's history.

Ten Thirty-One Productions – $2 Million for 10% Equity

Melissa Carbone entered Shark Tank with a bold pitch, as she asked for $2 million for a 10% stake in her horror-themed entertainment company, pronouncing it to be worth $20 million. In the beginning, the Sharks were unimpressed by the price, but Mark Cuban's interest was sparked by the company's great numbers from their haunted attractions. Cuban decided to invest the whole $2 million but raised his equity to 20%. Even with this record deal, Ten Thirty-One had its share of troubles in the aftermath of Shark Tank, reportedly because it mismanaged its growth opportunities.

Breathometer – $250,000 for 10% Equity

Charles Yim introduced the Breathometer, a smartphone-connected breathalyzer on Shark Tank. Initially asking for $250,000 for a 10% stake, he settled for a valuation of $2.5 million. In an unusual moment, all five Sharks invested, putting in a collective sum of $1 million for 30%. However, despite early success, the company flopped in 2014 because of inaccurate readings and the Federal Trade Commission (FTC) ordered it to provide refunds to customers. The promising startup had secured millions after Shark Tank only to end up being one of the show's biggest flops.

Trunkster – $1.4 Million for 5% Equity

Gaston Blanchet and Jesse Potash went in for an audacious pitch regarding futuristic, zipper-less smart luggage and asked for $1.4 million for just a 5% equity, giving their start-up an astounding $28 million valuation. For the high price, Mark Cuban and Lori Greiner made the deal, impressed with the willingness of the product. However, somewhere along the way, Trunkster flopped, leaving many backers of Kickstarter without their pre-ordered luggage. Touted ambitious pricing may have convinced the Sharks, but Trunkster's failure to walk the talk led to scathing criticism of them.

BeSomebody – $1 Million for 10% Equity

Kash Shaikh pitched an app, BeSomebody, connecting users with mentors for learning experiences, asking for $1 million at 10%. The $10 million valuation raised eyebrows, but it was the actual model of business that truly sank the pitch. The Sharks felt it lacked scalability and real consumer demand. Mark Cuban called it "one of the worst pitches ever" and Shaikh walked out empty-handed. BeSomebody would go on to pivot into a content marketing firm, abandoning its original concept. This Shark Tank rejection shows that even if you believe in your brand, an inflated valuation but no real basis behind it will get you nowhere.

Project Pollo – $2.5 Million for 5% Equity

Plant-based fast-food chain Project Pollo entered Shark Tank with founder Lucas Bradbury asking for $2.5 million for just 5%, valuing the startup at $50 million. The Sharks weren’t convinced, arguing the company was expanding too quickly without proving long-term success. Kevin O’Leary bluntly called it a “cash-burn disaster.” Project Pollo continued to grow even in 2022, attempting to open at multiple locations. It was in 2023 that the fast-food chain caught everyone unaware when it sold to vegan competitor Nestlé's Sweet Earth, raising doubts about its financial viability.

Brumachen – $1 Million for 10% Equity

Brumachen, which was introduced in Shark Tank as a portable coffee brewer with the option for $1 million for 10%, valuing the device at $10 million. It was met with skepticism for being niche, overpriced, and lacking real customer demand. Daymond John backed this opinion by questioning if the step taken by the company was truly an innovative breakthrough or a novelty. Given that Brumachen didn't have any sales numbers justifying the ask, it departed without a deal. After appearing on Shark Tank, it experienced additional problems in receiving orders on time and had performance complaints around it.

GoumiKids – $1 Million Line of Credit for 10% Equity

Linsey Eubanks and Lili Yeo pitched GoumiKids, an infant apparel company, where soft, bamboo mittens would be given prominent exposure. Rather than asking for an investment in exchange for equity, they were requesting credit amounting to $1 million at a 10% valuation. Kevin O'Leary struck the deal, offering the amount at 9%. The structure of the deal was the key point of attention, slightly unusual since, traditionally, most Shark Tank deals are straight-up equity. GoumiKids flourished even after Shark Tank, with multiple products launched.

PolarPro – $500,000 for 10% Equity

Jeff Overall made a pitch for PolarPro, a startup in-camera filters and accessories, asking for $500,000 for a 10% equity stake, thus valuing the company at an astounding $5 million. The Sharks debated the niche market, while not asking for the highest amount. However, Mark Cuban and Robert Herjavec saw potential and together offered $1 million for 20% equity. PolarPro went on to take over the camera accessories business, proving that some pitches do seem ridiculous at first, but it could always work with a strategic partner.