‘Shark Tank’ judges didn't take this cancer survivor seriously — until he revealed a deal worth millions
'Shark Tank' has become one of the biggest reality TV shows, owing to its ability to launch aspiring entrepreneurs on the national, if not global, stage. With seasoned investors like Mark Cuban, Daymond John, Barbara Corcoran, Robert Herjavec, and Lori Greiner, contestants get some really sage advice. However, not all entrepreneurs need a shark's last word to succeed. Such an example is Joe Moore, the founder of First Defence Nasal Screens. Moore appeared on the show's season 2 and sought $500,000 in exchange for a 10% equity in his company.
His pitch was short and impactful. Introducing the product, Defence Nasal Screen, Moore told the Sharks that he can eliminate the inhalation of allergens, pollens, mould, and viruses by up to 99%. He backed up his statement by adding that the product is 'clinically proven'. Additionally, he stressed that it is also 'lightweight' and 'easy to use.' Despite the positive pitch, the Sharks were seemingly hostile towards Moore. Hajervack, unimpressed, went first, saying, "Are you kidding me?" However, when Moore revealed that he had already secured an $8M deal with a top business giant in the United Arab Emirates, Cuban quipped, "Well, all of a sudden you don't look that funny with that stuff stuck up your nose."
The Sharks' interest in Moore's idea grew. While Corcoran said she was out over her lack of understanding of how the product works, O'Leary was the first to propose an offer of $500,000 for a 15% royalty on every unit sold and 10% equity in the company. Herjavec joined in on O'Leary's offer while Daymond John increased the stakes by offering, $800,000 for 10% Perpetual Royalty and 30% Ownership of the company. The tables quickly turned when O'Leary offered to buy out the whole company with $1M. Moore didn't blink for a second before turning down the offer, fully knowing the worth of his company was around a billion.
When asked what number he would put on the company, Moore who is also a cancer survivor and an ex Marine Corps and army guy, said that he has never believed in anything more than his company and that even though he appreciates the Sharks' offers, he never intends to sell the company entirely but be an active part in it. The next buyout offer came from Herjavec, who proposed $4 million for the company plus a 10% royalty. But Moore made a counteroffer for $5 million with a 15% royalty, which the judge rejected. Moore argued, "I believe that the 4 million is a little low, but I think we're very close. I think if you went to $5 million and 15% and whether you want me as an employee, which I would like… because I want my royalty to be as much as I can.”
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It's been 14 years since Moore walked out of 'Shark Tank' with no deal but also with no regrets. Today, his company has expanded immensely, and he has had substantial growth with a profit of $1.9 billion in 2024. An impressive compound annual growth rate (CAGR) of 8.77% is anticipated between 2025 and 2033, according to Value Market Research. The current net worth of First Defence Nasal Screen is about $6.6 million as of 2025, as reported by Shark Tank Insights.
