Mark Cuban, one of the renowned investors on the hit TV show “Shark Tank,” has seen his fair share of ideas over the years. However, he recently revealed that one investment took him by surprise. Cuban spoke exclusively to Us Weekly and shared his thoughts on Beatbox Beverages, a wine cooler and spritzer company founded by a group of partying individuals from Austin.
When the founders of Beatbox Beverages appeared on season 6 of Shark Tank in 2015, Cuban was intrigued by their pitch and saw potential in their idea. He decided to invest $1 million for a third of the company, a decision that turned out to be highly profitable. The company is now valued at over $200 million and is projected to generate $100 million in sales this year alone. Cuban expressed amazement at their success, particularly among college students who have embraced the brand.
While Cuban has had many successful investments, there are some that got away. He mentioned Spike Ball as one example. The founders of Spike Ball wanted Cuban to be the commissioner of a Spike Ball league, but he declined as he already owned an NBA team. Looking back, Cuban admitted that the founders were right, and he missed out on a great opportunity.
Cuban joined Shark Tank as a guest shark in season 2 and never imagined that the show would continue for 15 years. He initially thought that the original sharks, Daymond John, Barbara Corcoran, Robert Herjavec, Kevin O’Leary, and Kevin Harrington, conducted business poorly. However, his perception quickly changed after appearing on the show, and he has been a mainstay ever since.
The article also includes a related link to a list of celebrity billionaires, highlighting the rarified air inhabited by individuals like Elon Musk, Bill Gates, and Jeff Bezos.
Although Cuban and the other sharks can be ruthless in the boardroom, the billionaire entrepreneur has a soft spot for the budding business people they encounter on Shark Tank. He appreciates the opportunity to encourage and educate entrepreneurs, providing them with the push they need to start their own companies. Cuban also finds it gratifying to see individuals who watched the show as kids now appearing as entrepreneurs on the show.
Season 15 of Shark Tank is set to premiere on ABC on Friday, September 29th, and Cuban, along with his fellow sharks, continues to search for the next big idea and the opportunity to make entrepreneurs’ dreams come true.