Whatever Happened To Potato Parcel After Shark Tank?
"Shark Tank" is a show that claims to give entrepreneurs a life-changing amount of money for their business, provided they can first entice the Sharks with a compelling pitch. However, since "Shark Tank" is a reality show, it's fair to question how much better businesses actually do after a successful appearance. Does going on "Shark Tank" actually help a business's prospects?
Take Potato Parcel. In 2016, Riad Bekhit and Alex Craig went on "Shark Tank" to pitch their business, Potato Parcel, which allows people to send potatoes with customized messages or pictures of their face, for $9.99 and up. For every potato they sell, Bekhit and Craig also donate one to local food shelters.
Bekhit and Craig appeared on "Shark Tank" dressed in potato costumes and asked the Sharks for $50,000 in exchange for 10% of their company. The business partners claimed they had made over $215,000 in their first thirteen months and had hundreds of repeat customers.
The Sharks were mostly skeptical, but both Kevin O'Leary and Robert Herjavec made offers. In the end, they accepted O'Leary's offer of $50,000 in exchange for the 10% equity, as well as a royalty sharing agreement that pays Kevin $150,000 in compensation.
So, how is Potato Parcel doing today?
You can still mail potatoes with messages on them today
Yes, Potato Parcel is still going strong six years later. In 2018, Riyadh Bekhit told CNBC that the company had sold 70,000 more potatoes since its "Shark Tank" appearance, and that yearly revenue topped six figures.
Potato Parcel has expanded its offerings beyond the original gifts Bekhit and Craig pitched in 2016. Customers can still buy potatoes with messages up to 140 characters, or a "potato pal" with a picture of someone's face, but now there are several holiday-themed offerings as well. Customers can also order a variety of non-potato gift items. Potato Parcel can put your face on socks, pillows, oversized Fathead-style decals, and more. Potato Parcel even offers a spring-loaded glitter bomb gift, in case you're feeling particularly mischievous. Everything is available on PotatoParcel.com.
Kevin O'Leary looks back on Potato Parcel as one of his favorite pitches, calling it "the best pitch for the worst product," and noting that he's made a lot of money on the deal (via USA Today). Not bad for a pitch that was almost laughed out of the room.