Whatever Happened To iFork After Shark Tank?
Fans of "Shark Tank" have been tuning in since 2009 to this unique reality series, in which amateur entrepreneurs present their ideas to super-rich business investors looking to catch lightning in a bottle. What makes the show so appealing is that viewers can observe everyday people pour their hearts into a once-in-a-lifetime pitch in order to hopefully push their product into the consumer world. To get their big ideas to the next level in the world of business, these entrepreneurs must first successfully navigate the sharks' scrutinization, resulting either in the money they need or sudden death.
According to Shark Tank Blog, just after Kyle Donovan dove into the predator-infested waters to present his iFork business concept in "Shark Tank" Season 9, Episode 15, it was clear that he had the sharks' attention. The iFork set is a simple, yet ingenious concept. This cup, plate, and utensil set are made specifically for people to easily enjoy a meal while standing at an event or party. It's a neat design that allows the cup to fit into the bottom of the plate, acting as a holder, as well as a slot holder for your fork, to make sure it doesn't fall onto the ground. On top of that, the utensils themselves have a ball bearing-like addition that keeps them from touching a dirty surface.
ABC reported that Donovan's well-thought-out presentation was enough for Barbara Corcoran to make an offer of $100,000 for 15% of his business. Despite previously failed presentations, it appeared that Donovan and his iFork business were heading to the consumer world.
The iFork deal fell apart
Just like any other business opportunity, an investment on "Shark Tank" does not always equal success. Some products on the series quickly find their way to store shelves, and others become the focus of commercials. If a product is especially worthwhile, you might even see an enhanced version appear on Amazon. However, many other products simply never get beyond the initial concept.
The consumer world is as unpredictable and tumultuous as the very waters the sharks swim in. Some make it through this process unscathed, able to thrive in their own niche, while others get lost in the vast ocean of the business market. Sadly, the business relationship between iFork and Barbara Corcoran never got any further than what we saw on the aired episode. According to StartupReneurship, the $100,000 deal never went through.
For iFork creator Kyle Donovan, his business took an odd turn, as the New York Daily News reported that a neighbor, after seeing multiple people enter and exit Donovan's apartment during a "Shark Tank" episode watch party, believed she was actually witnessing an illegal prostitution business in action. That accusation led to Donovan suing his neighbor for slander. Today, iFork can only be purchased on its own website. Donovan's Linkedin page clearly references his appearance on "Shark Tank," but the product's Twitter account has been inactive for years.