‘Shark Tank’ contestant was rejected on TV — but years later, a surprising call from a Shark changed it all
One of the hardest things to do on the TV has to be changing the decision of the judge's on 'Shark Tank.' With sharp business acumen, Sharks usually decide if the business is investable or not, and once they decide against it, the odds of changing their mind are zero to none. However, in a stunning twist, Robert Herjavec was so impressed with a business owner that he happily changed his stance, but it all unfolded beyond the high-stakes arena of the Tank.
In 2014, John Tabis pitched their flower startup, The Bouqs, on 'Shark Tank,' as per Medium. Asking for $258k for 3% at an $8.6M valuation, the start-up had $2M in revenue but no profit. Sharks were less than thrilled with the business, and Tabis had to go home without any deal. However, things quickly changed in 2017 when Herjavec was planning his wedding and used The Bouqs for flowers. In an October 2016 interview, Tabis recalled, "About eight months ago, I had a call scheduled for three o'clock, and then my phone started ringing."
He further added, "I figured they were just calling me. When I picked up, the guy on the other end said, "Hey John, it's Robert Herjavec from Shark Tank." Herjavec had been searching for affordable floral options for his wedding to 'Dancing with the Stars' Kym Johnson, found costs to be high, and remembered Tabis' company. Tabis explained, "We met a few times and came up with a plan, and as he learned about our business in the context of planning for his wedding, he got excited about what we were doing," as reported by Built In.
Tabis continued, "Then he asked if there was a way he could become an investor, and we got to a place where everyone was comfortable, and we couldn't be happier. He's been such a great supporter in the short time he's been an investor, and it's pretty cool to come full circle." Talking about Herjavec's involvement, Tabis found the partnership especially affirming, as he said, "When Robert came back around and learned more about what we do and was able to see how we operated, it made me feel a lot better about what we did on the show a year ago. It was just so validating for someone with such a public profile and a great track record of investing to come around once he had time to dig in and see how things work."
Following Herjavec's $1.1 million investment, The Bouqs has grown to over $640 million in lifetime sales and over $59 million in annual revenue, per Shark Tank Update. The Bouqs has expanded into 10 major US cities, including Houston, Dallas, New York, and Chicago, and has delivered over 30 million flowers to satisfied customers. Today, it's recognized as one of the most successful companies in 'Shark Tank' history, with Herjavec eventually investing, though many believe the other sharks now regret passing on the opportunity.