Barbara Corcoran Names the ‘Shark Tank’ Deal That Got Her $468 Million
Investor Barbara Corcoran has made countless deals on Shark Tank, but only one has earned the 74-year-old nearly a half billion dollars.
“That would have to be [the] Comfy,” Corcoran told podcaster Daniel Mac after he asked about her most profitable investment from the ABC reality show. “They made me $468 million dollars in three years. … I took the deal myself. I got a third of the business for, I think, $50,000. Nobody wanted it.”
Entrepreneurs Brian and Michael Speciale — a.k.a. The Speciale Brothers — pitched The Original Comfy — a sweatshirt-blanket hybrid — during Season 9’s holiday-themed Shark Tank episode in 2017.
https://www.tiktok.com/@thedanielmacshow/video/7247546972930903339
“’Tis the season of the Comfy / Fa-la-la-la-la, la-la-la-la,” they sang. “It’s the blanket that’s a sweatshirt / Fa-la-la-la-la, la-la-la-la / Stay warm and cozy, it’s the Comfy / The perfect gift for anyone on your list / Get one now before they’re all gone / Fa-la-la-la-la, it’s Comfy time.”
Much like the Comfy’s sherpa-fabric interior, Corcoran’s memory is a little fuzzy. Fellow Shark Tankshark Robert Herjavec also wanted in on the product, but he drove a harder bargain, offering the Speciales $50,000 for a 50-percent stake in their business.
Corcoran underbid him, extending $50,000 in exchange for a 30-percent stake, and the brothers took her up on the offer.
“That’s a good investment,” Corcoran observed on The Daniel Mac Podcast, reflecting on a deal gave her a 9,360x return. “But don’t worry. I’ve lost on so many others.”
Shark Tank’s 15th season will air Fridays this fall at 8/7c as part of ABC’s reality-centric (and thus strike-proof) programming lineup, though the network hasn’t announced a return date for the Emmy-winning series. Reruns of the show — featuring Corcoran, Herjavec, and fellow sharks Mark Cuban, Kevin O’Leary, Daymond John, Lori Greiner — air multiple times a week on CNBC.
Shark Tank, Season 15 Premiere, TBD, ABC
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P
First paragraph...you meant a 'half billion' dollars.
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R
Half a billion or half a million. That's reporting today. No worries about the importance details
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G
Remember when it was shocking to see a typo or error in a news story? Now it’s shocking when you DON’T see such!
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O
Big difference between half a million and half a billion
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C
I fail to see how anyone could make half a billion dollars from selling a single piece of clothing over 3 years. With an investment of just $50,000, this would have been the greatest ROI over 3 years in history.
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O
The facts don't matter to people in the media anymore.
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