Robert Herjavec's Best 'Shark Tank' Investment

67 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

How Viagra Made Pfizer Billions Before Generics - CNBC

How Viagra Made Pfizer Billions Before Generics - CNBC

2 years ago
1,980

Pfizer was making $1.8 billion a year on average from Viagra when the erectile dysfunction drug first appeared on the market. After the patent expired in late 2017 and competitors created cheaper alternatives and generics, Viagra sales plummeted with 73% year-over-year for 2018. Pfizer still holds the lead in the...

The Real Cost Of Living In New York Vs. Los Angeles

The Real Cost Of Living In New York Vs. Los Angeles

2 years ago
380

From median salaries to commute times, here's how the two biggest cities in the U.S. compare when it comes to living there. » Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and...

How Fannie and Freddie Prop Up America's Favorite Mortgage

How Fannie and Freddie Prop Up America's Favorite Mortgage

2 years ago
35,701

Fannie Mae and Freddie Mac back about half of new mortgages in the U.S. Now, talks are heating up about reshaping or shrinking the two companies, a move that could impact millions of Americans. Photo: Heather Seidel/The Wall Street Journal Don’t miss a WSJ video, subscribe here: http://bit.ly/14Q81Xy More from...

Why Amazon Is Gobbling Up Failed Malls

Why Amazon Is Gobbling Up Failed Malls

2 years 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:...

Major U.S. Retailers are Now Accepting Bitcoin and Other...

Major U.S. Retailers are Now Accepting Bitcoin and Other...

2 years ago
270

Those taking the digital money include clothing store Nordstrom, grocer Whole Foods, and movie chain Regal Cinemas. The move is thanks to a new deal between payment network Flexa and digital asset platform Gemini. ► Subscribe for more tech & culture videos: http://on.mash.to/subscribe ◄ MORE FROM...

The Odd Way the U.S. Calculates GDP

The Odd Way the U.S. Calculates GDP

2 years ago
2,106

Economists say the U.S. would be better off if the country's GDP rose at a 3% rate or more each year, rather than the 2% rate it has been growing at for a while. WSJ explains what GDP is, and why economists are so fixated on its growth. Illustration: Stephanie Swart/The Wall Street Journal Don’t miss a WSJ...

Why You Spend So Much Money At Costco — Hooked

Why You Spend So Much Money At Costco — Hooked

2 years ago
512

With over 94 million Costco members worldwide, chances are you know a Costco addict. There are Instagram accounts devoted to Costco, like @costcodeals, and websites, like CostcoInsider.com. Costco has even become a travel destination and - for one couple - a place to get married. Buying in bulk isn't for everyone,...

Americans spend $18K on nonessentials every year

Americans spend $18K on nonessentials every year

2 years ago
348

Ramsey Solutions financial expert Chris Hogan on the steps to reducing nonessential spending in an effort to lower debt and boost savings. 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...

'Million Dollar Listing' Host Josh Altman: How To Be A Master...

'Million Dollar Listing' Host Josh Altman: How To Be A Master...

2 years ago
127

Real estate agent and host of "Million Dollar Listing," Josh Altman, gives tips on how you can negotiate in real estate. » Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf As a real estate agent, my first interaction with a client is everything. If I come in strong with confidence and style, I set the...

Comments
 

You have
500
characters left.
  •  
  •