Shark Tank is the reality competition that uses the judging panel known as the “Sharks” to evaluate entrepreneurs.
The American business reality series premiered on ABC in 2009. Entrepreneurs present products or companies to a panel of wealthy investors and request money in exchange for an ownership share. The investors are called Sharks because they compete aggressively for promising deals and question the presenters about sales, valuation and profitability.
The programme is based on the Japanese format Money Tigers and is part of the international Dragons' Den franchise. The US panel has included business figures such as Mark Cuban, Barbara Corcoran, Kevin O'Leary, Daymond John, Robert Herjavec and Lori Greiner.
A pitch can end with one investor making an offer, several Sharks competing, or no deal at all. An agreement made on camera is usually subject to further due diligence, so a televised handshake does not guarantee that an investment will ultimately close.
Shark Tank has helped popularize entrepreneurship as a reality-TV subject and introduced many consumer products to a broad audience.