What is it like to be on ABC’s Shark Tank?
Answers to FAQ’s, from one Shark Tank founder.
What is your product / company?
We went on Shark Tank talking about GO CUBES Chewable Coffee and our larger business at HVMN (at the time we were known as Nootrobox).
If you could sum up your pitch to the Sharks in 50 words what would you say?
GO CUBES Chewable Coffee are the most innovative on-the-go energy product in over a decade. This is part of the larger Nootrobox story that we’re leaders in biohacking and have world-class taste & execution at making popular new products for optimizing your day.
Did you get a deal?
Nope :(
It’s okay, we did a ton of sales when the show aired, and it 100% was worth it to get our brand name out there.
How did you get on the show?
The team there initially reached out to us, and then we applied. There were many steps of vetting but the team there was helpful and professional in guiding us through the process.
I think getting on the show is a mix of having an interesting business and being a good performer. There’s a certain Shark Tank “type” of business, but the producers know that and are always evolving to keep the show familiar yet fresh.
Do you have any regrets?
Sort of. We asked for $2M for 5% of our company, or a $40M valuation. The valuation was reasonable but we should have asked for $400k for 1% and made it easier for a Shark to take a bite!
I doubt it would have made a difference because they all balked at $40M. Geoff and I think that price will be very cheap in the long run, and I don’t think we could have fully conveyed this with the Sharks in the time we had.
How long did they shoot?
They shot for a little over an hour at the production lot in LA, and it got cut down to the five minute segment that airs on TV. The overall experience lasted most of the day, and it was cool meeting a number of other Shark Tank entrepreneurs including our good friends Lisa & Abe at Nomiku!
Was it scary?
No, I love the spotlight :) Being in front of the Sharks and 8M viewers at home was a thrill! I still get goosebumps every time it airs.
Which Shark was your personal favorite?
The Sharks on our episode were:
- Chris Sacca
- Robert Herjavec
- Lori Greiner
- Kevin O’Leary
- Mark Cuban
I liked Mark Cuban because he was funny (are “GO CUBES are named after me, right?” he joked) and I think he best understood what we’re up to.
I think Kevin jammed us too hard for no reason, and I think Lori didn’t really understand what we’re doing at all. Robert and Chris were okay.
I’d happily take a meeting with any of the Sharks again. I would not be surprised at all if we end up doing business together with one of the Sharks at some point in the future.
Best advice you got?
Practice, practice, practice.
Geoff and I practiced our opening pitch hundreds of times. We would practice at the office, at home, or walking around in public. We also memorized every single spec about our products and the research behind them, as well as hundreds of stats about our business. We were ready to answer literally any question.
What was your proudest moment?
My proudest moment was talking about intermittent fasting, a biohack that our team and larger community & customers do for longevity and cognitive benefits. Intermittent fasting one of the healthiest interventions you can start doing, it’s free, it’s movement that we’ve helped lead — so it was great to have an opportunity to bring awareness.
Talking about I.F. also helped anchor Geoff and me as founders committed to biohacking, which is great for the company’s brand in the long term.
How many people watch the show?
Shark Tank is averaging about 7.9M viewers per episode.
How were sales?
Sales are phenominal- we saw a huge rush of orders when the show aired — we sold several months of product in a day!
That’s not just a one time slug, it’s a whole cohort of new fans who keep buying the product online, in convenience stores, and everywhere GO CUBES are sold. So it’s a gift that keeps giving.
We’ve been replayed once and our sales were actually better than the first time because we had even more flavor options available to buy.
What did you learn?
Be assertive and run the show.
What do you wish you could go back and tell the Sharks?
Stop interrupting each other! Be patient, listen to an answer, and wait your turn.
There was a lot to unpack as we explain our $40M valuation, the highest ever on Shark Tank, so I wish they’d given us more of the oxygen in the room instead of all trying to look smart.
Was it a good overall experience?
Heck yeah! I look forward to many more exciting moments like that in life. I hope one day I’m a Shark myself :)
Thanks for reading!
Check out GO CUBES Chewable Coffee, the Shark Tank hit!
