Contestants on “Shark Tank” must bring their absolute best, as investor Barbara Corcoran is known for being a formidable judge. Her discerning eye and high standards make it clear that only the most compelling pitches will succeed in securing her investment.
Dubbed the “Queen of New York real estate,” Corcoran has cultivated a strong reputation for her selective approach to the products and entrepreneurs she chooses to endorse on the popular television series. Her insights and critiques often leave a lasting impact on contestants, shaping their business strategies and understanding of the market.
Entrepreneurs Chris Videau and Chris Campbell, the founders of Sheets Laundry Club, discovered this reality firsthand during their appearance in season 13, episode 10. They sought to secure a $500,000 investment in exchange for a 5 percent stake in their company, hoping that their innovative approach would capture the investors’ interest.
Barbara Corcoran, a judge on “Shark Tank,” faced criticism after her harsh feedback rendered contestants speechless, dubbing them the “worst salesmen ever.” (Photos: Shark Tank USA/YouTube.)During their pitch, the founders revealed impressive sales figures, claiming they were on track to generate $7 million in revenue. They shared details of an exclusive agreement with Kimberly-Clark Corporation, which included holding the patent for their eco-friendly product until October 2024. Despite these promising figures, the duo faced immediate skepticism from the panel.
Kevin “Mr. Wonderful” O’Leary raised an important concern, questioning the ownership of their product. “The con is I don’t think you own anything,” he stated after learning that the entrepreneurs had to pay an annual royalty to utilize the patent for their distinctive laundry detergent sheets. This revelation led the investors to question the viability of their business model.
Both Corcoran and O’Leary expressed reservations about the implications of the expiring patent and the broad range of products offered by the duo. Corcoran specifically referred to their situation as a “formula for disaster,” highlighting her belief that the lack of control over their core product could lead to significant challenges in the future.
Corcoran’s critique extended beyond the product itself; she expressed concerns about the effectiveness of the pitch itself. “You’re not persuasive enough, I’m sorry. For whatever reason, forgive me for saying this, I don’t think either of you sell,” she bluntly told the entrepreneurs. Her feedback underscored the importance of a compelling presentation in securing investments.
She elaborated, emphasizing that even the best products and business operations could falter without the necessary drive and assertiveness at the forefront of their marketing efforts. “You could have the best product, the best production, you run the best company, make people happy, but if you don’t have that aggressiveness hunger on the front end of your business, it doesn’t really go anywhere. So, for that reason, sadly, I’m out,” Corcoran concluded, leaving the duo to reassess their approach.
Audience reactions varied, with some viewers questioning Corcoran’s rationale. One person commented, “Barbara comes up with the weirdest reasons to decide to be out.” Another viewer stated, “Barbara was so off base here, and usually I like her.” This mixed feedback highlighted the polarizing nature of her critiques.
Critics of Corcoran noted her tendency to judge based on her perceptions of contestants’ enthusiasm and passion. One viewer remarked that she “always judges people on her biases,” while another declared, “She doesn’t have any money to invest.” These comments reflect the ongoing debate about the investors’ decision-making processes on the show.
O’Leary added humor to the situation, quipping that Corcoran had just labeled both entrepreneurs as the worst salesmen she had ever encountered on “Shark Tank.” In response, Videau and Campbell defended their position, asserting that their success was largely due to aggressive marketing strategies that had proven effective in their business model.
Ultimately, O’Leary opted out due to his existing investments in a cleaning product line, while Lori Greiner expressed that the Sheets Laundry Club did not ignite her enthusiasm. Mark Cuban also turned down the opportunity, citing the high risks associated with international expansion as a deterrent. Nevertheless, the duo found success when they accepted an offer from Daniel Lubetzky for $500,000 in exchange for a 10 percent stake in their company, which included 8 percent equity and 2 percent advisory shares. The company continues to thrive in the competitive market.
