Mark Cuban took a $250K ‘Shark Tank’ deal mostly for TV, not business — but it still hit $11M in sales
Mark Cuban may have bid farewell to the high-stakes arena of 'Shark Tank', but his legacy continues to shine on. Not only has the business mogul been a fan favorite ever since his debut in Season 3, but he's also added a few more millions to his wealth with well-planned 'Shark Tank' deals. However, there was one instance when Cuban succumbed to the pressure of looking good for TV and invested in a brand. Yes, you heard that right!
On 'Shark Tank' Season 13, Episode 5, a hiccup-curing invention created by Dr. Ali Seifi called HiccAway was introduced to the judges. The device was presented by Dr. Seifi, along with Amanda Azarpour and Victor Feldberg, per Shark Tank Blog. The founders asked for a deal worth $250,000 for 10% equity. Daymond John, a frequent hiccup sufferer, asks how it works, and Dr. Seifi uses a visual aid to explain. They present a video testimonial, impressing the Sharks. When Kevin O'Leary questions if it’s just a straw, Dr. Seifi explains that specific pressure levels make HiccAway effective.
During the pitch, Barbara Corcoran said she wouldn't use the product at home, so she was out. Lori Greiner didn't think there was much need for it, so she also passed. O'Leary liked the idea but felt it would be hard to convince people it works. Cuban, on the other hand, was impressed with the science behind it. He believed it could be something people keep in their medicine cabinets and offered $250,000 for 20% of the company. O'Leary jumped in with a better deal, offering $250,000 for just 15%. The founders then asked Cuban if he would match O'Leary's 15%, but the businessman replied with a firm no. They then suggested 18%, but the Dallas Mavericks owner still didn't budge. In the end, they went with his original offer of $250,000 for 20%.
Cuban later revealed that he mostly did it for the TV, not the business potential, per The Things. The business mogul explained, "Sometimes there's a TV part of the deal. It's like, normally not a deal I would do. But it really sends a good message. I'll put up the money and do whatever, but sometimes they forget they have to work." He gave an example, saying, "I have this one company, HiccAway. It's brilliant. They saw a huge bump. You get a huge bump when you come on Shark Tank. But you can't really just depend on that; you've got to remind them. There are going to be deals that I do because it is just for the right reason."
Though the entrepreneurs wisely accepted Cuban's tough offer, he admitted he wouldn't have taken the deal outside the show. The Shark Tank Blog shared that when the episode re-ran in June 2022, there was no confirmation that the deal with Cuban had closed. However, by October 2022, the deal was finalized. HiccAway became widely available, selling internationally on Amazon, in Walmart and HEB in the US, and in retailers across the UK, Canada, Spain, Australia, Germany, Italy, Japan, and China. By August 2024, the company had reached $11 million in lifetime sales.