Shocking! Mark Cuban made no profits from 'Shark Tank' investments
What's the story
Shark Tank made Mark Cuban one of the US's darling billionaires. So, it may come as a jolt to many of you that he has not made any profit from investments made on the popular show. The Dallas Mavericks owner recently revealed the shocking information on the Full Send Podcast. Cuban has invested over $20 million in various companies showcased in the "Tank."
Context
Why does this story matter?
Shark Tank showed us venture capitalism can be entertaining. Well, if Cuban's words are anything to go by, entertainment and investment are not the best combinations. Known for his candidness and investment acumen, Cuban's words are a testament to what many people always believed: the Tank is more theater than business. But you cannot deny that the Tank made the entrepreneurs famous.
Revelation
'I've gotten beat: Cuban on his 'Shark Tank' investments
Cuban's shocking revelation came during last week's Full Send Podcast. "Are you up all time on 'Shark Tank' investments?" the host asked Cuban. To this, the billionaire replied, "Like, up financially?" He then continued, "Oh no, I've gotten beat," he admitted with a laugh, indicating that he has not profited from his suite of investments made in the show.
Investments
Dallas Mavericks owner has invested around $20 million
Cuban has been one of the staples of Shark Tank since its inception. According to Sharkalytics, a fan-run website, the Dallas Mavericks owner has made investments in 85 companies across 111 episodes. His total investments amount to around $20 million. Cuban's own website lists 54 Shark Tank companies. The number could be low because he has omitted companies that do not exist anymore.
Worst investment
Cuban calls out 'Breathometer' as his worst investment
In the podcast, Cuban also talked about his worst investment to date: "Breathometer." The company made history when it received investments from all five Sharks, including Cuban, Robert Herjavec, Kevin O'Leary, Lori Greiner, and Daymond John, in 2013. Founded by Charles Michael Yim, the company's product was a breathalyzer that could be plugged into a smartphone.
Problematic
The founder partied around under the guise of networking
About Breathometer and its founder, Cuban said, "It was a great idea and actually a decent product...but I'd look at his Instagram, and he'd be in Bora Bora." "I'd text him, like 'What the f--- are you doing? You're supposed to be working," he added. According to his recollection, Yim always replied that he was "networking" for the business.