Robert Herjavec's Best 'Shark Tank' Investment

42 Views · Published on Wed, 01 May 2019 · FINANCE & BUSINESS

Robert Herjavec might have made his money from cybersecurity, but the quirky investments he's made on "Shark Tank" have paid off, too. » Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf Robert Herjavec might have made his money from cybersecurity, but the quirky investments he’s made on “Shark Tank” have paid off, too. Of all the companies and products he’s invested in since the start of the show, Herjavec says ugly sweater company Tipsy Elves has been his most successful. “They were selling $600,000 of ugly Christmas sweaters online. I couldn’t believe it,” he tells CNBC Make It of the company’s initial pitch on “Shark Tank” in December of 2013. “Everybody went out, I went in.” Tipsy Elves was started by friends Evan Mendelsohn and Nick Morton in 2011. The former lawyer and dentist created the company after realizing they didn’t have enough festive wear for holiday parties they attended. Their business sense and passion for their product impressed Herjavec, who invested $100,000 and owns a 10% stake in the company. “I didn’t bet on the product, I bet on the guys,” Herjavec says. “They left these secure, cushy jobs to sell inappropriate, ugly Christmas sweaters online. Anyone nuts enough to do that must really believe in the idea.” Herjavec says the key to any profitable venture isn’t the strength of the product, but the strength of the entrepreneur. “Give me a great entrepreneur and he can take a so-so product, and make a great business out of it,” Herjavec says. “A bad entrepreneur can take a great product and run it into the ground.” Today, Tipsy Elves has made over $100 million in lifetime retail sales, making it his most financially successful investment on the show. It’s an impressive haul, but his co-stars have also found success in their investments. Fellow “Shark Tank” investor Kevin O’Leary’s investment into meal-kit delivery service Plated generated the biggest returns of any company in the show’s history. “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, ” O’Leary told CNBC Make It in October 2018. O’Leary called Plated founders Nick Taranto and Josh Hix “a classic ‘Shark Tank’ story — excellent in executional skills and marketing logistics.” Like Herjavec, Daymond John also found investing success in apparel, albeit selling socks. John invested in athletic sock company Bombas. Their model — donating a pair for every pair sold — is part of what drew John in. “Number one, the socks are amazing, they have no seams on the front so your toe doesn’t get jammed up,” he says. “Number two is they donate a pair to the homeless shelter, because the homeless, one of their biggest challenges are the care for their feet.” About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money. Connect with CNBC Make It. Online Get the latest updates: http://www.cnbc.com/make-it Find CNBC Make It. on Facebook: http://cnb.cx/LikeCNBCMakeIt Find CNBC Make It. on Twitter: http://cnb.cx/FollowCNBCMakeIt Find CNBC Make It. on Instagram: http://bit.ly/InstagramCNBCMakeIt Find CNBC Make It. on LinkedIn: https://cnb.cx/2OIdwqJ #CNBCMakeIt #SharkTank #Robert Herjavec Robert Herjavec reveals how ugly Christmas sweaters became his best ‘Shark Tank’ investment | CNBC Make It.

Related Videos

Why A Budget Won't Fix Your Terrible Money Habits

Why A Budget Won't Fix Your Terrible Money Habits

9 months ago
190

For most experts, creating a budget and cutting down on your expenses are go-to solutions for saving money. Ramit Sethi thinks that budgeting alone won't fix your terrible money habits. Here's how he saves money without having to worry about a budget each month. 'Create a budget!' is the sort of...

Cannabis company going public on Nasdaq

Cannabis company going public on Nasdaq

9 months ago
640

Vertical Wellness CEO Smoke Wallin on the company's IPO and the outlook for CBD and marijuana. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the...

Fed Finds Many Families Would Struggle With a Surprise $400 Bill

Fed Finds Many Families Would Struggle With a Surprise $400 Bill

9 months ago
299

May.24 -- Even with unemployment near a 50-year low, many American families can’t afford an unexpected bill. A Federal Reserve report shows that 40% of households would struggle to pay for a $400 emergency.

Facebook to Launch its Own Cryptocurrency in 2020

Facebook to Launch its Own Cryptocurrency in 2020

9 months ago
173

Facebook plans on launching the cryptocurrency, termed “GlobalCoin,” in a dozen countries by the first quarter of 2020, BBC reports. ► Subscribe for more tech & culture videos: http://on.mash.to/subscribe ◄ MORE FROM MASHABLE * Tricking iPhone Facial Recognition: http://bit.ly/2M85wSJ *...

Mark Cuban's Shocking Shark Tank Deal With Hydroviv After They Almost...

Mark Cuban's Shocking Shark Tank Deal With Hydroviv After They Almost...

9 months ago
117

Eric Roy entered ‘Shark Tank’ seeking $400,000 for 10% of his company Hydroviv, a line of custom built water purifiers that are installed under your sink. Here’s how it played out, and what he could’ve done better. #SharkTank #Hydroviv #MarkCuban Get social with Inc. on: Facebook:...

How Tesla Owners Can Make Money Repurposing Their Cars Into Robotaxis

How Tesla Owners Can Make Money Repurposing Their Cars Into Robotaxis

10 months ago
60,053

Tesla’s CEO Elon Musk unveiled a plan to repurpose Tesla vehicles into robotaxis. This would allow owners of Teslas equipped with autonomous functionality to rent out their car while it is not in use via an app. Musk estimates a single robotaxi can make $30,000 a year. He thinks the program can be implemented as...

Tariff hike on Chinese goods would mean 25% price increase for...

Tariff hike on Chinese goods would mean 25% price increase for...

9 months ago
365

Investors concerned about the escalating trade war with China are hoping for some calm on Wall Street Tuesday. The Dow Jones Industrials plunged more than 600 points Monday, the worst in more than four months. It followed China’s decision to raise tariffs on $60 billion in U.S. goods. Ben Tracy reports. Watch...

Why Americans Love Taco Bell

Why Americans Love Taco Bell

10 months ago
476

Taco Bell is huge in the United States. It has been ranked as one of the top five fast-food chains in the country, based on sales. Despite the brand's popularity, Taco Bell has been dealing with upheaval in its C-suite. With more than 6,500 locations across the country, Taco Bell is one of the top fast-food chains...

Why Amazon Is Gobbling Up Failed Malls

Why Amazon Is Gobbling Up Failed Malls

9 months ago
1,408

As the decline of brick and mortar retail rolls on, commercial real estate developers are left with massive abandoned properties. Who will fill that underutilized space? A series of recent acquisitions by associates of Amazon in Northeastern Ohio provides some clues. Don’t miss a WSJ video, subscribe here:...

Comments
 

You have
500
characters left.
  •  
  •