Cab 20 Shark Tank Update – Shark Tank Season 3
Cab 20 appeared on Shark Tank Season 3. It aimed for indie success with Shark Tank backing, but will they be able to get the Sharks to come together?
Tom Callahan brought a brand-new sound to the Shark Tank Season 3 Episode 14 with a band he managed called Cab 20.
Check out more Shark Tank Season 3 Episodes.
About Cab 20
| Category | Details |
|---|---|
| Business Name | Cab 20 |
| Founder | Tom Callahan |
| Industry | Music |
| Product | Indie rock band |
| Investment Asked | $200,000 for 20% equity |
| Valuation | $1,000,000 (At the time of the Shark Tank pitch) |
Callahan hoped to bring the young musicians together with the right people, using the Sharks not only for their financial backing but also for their connections and marketing expertise.
He had been managing promotions and marketing for a variety of bands for over 25 years. He believed that Cab 20 could bypass the mega-marketing machine of the music industry and become an indie hit with the Sharks’ support.
Cab 20 Shark Tank Recap
Callahan came into the Shark Tank seeking a $200,000 investment in return for 20% of all future royalty streams. He believed that Cab 20 had “that ‘it’ factor” that set them apart from other sounds on the radio.
Mark Cuban wanted to know what was involved in the offer, and whether it was a “360 deal.” Callahan explained that the offer included a percentage of all the revenue from the band’s activities, but he wanted to exclude publishing. That was a tough blow for the Sharks.
Publishing included royalties from any future songs the band members might write, whether they performed them or licensed them to other artists.
Without those publishing royalties in the deal, Callahan didn’t have much to stand on with the Sharks.
What Makes Cab 20 Unique?
The fact that they were a young band seeking investment rather than a usual product-based business. They did not offer a multi-million dollar startup but rather just some music and potential, which was a breath of fresh air on the show.
Did Cab 20 Get a Deal on Shark Tank?
Mark Cuban liked the band’s sound but said, “The music business is the worst business on the planet. It scares the hell out of me. For that reason, I’m out.”
Daymond John had previously invested in a music deal, and it nearly ended up costing him a large amount, so he was out.
Barbara Corcoran liked the band. She remarked that the lead singer “looked like a virgin,” saying that “the girls would be all over him,” called the drummer a “John Lennon look-alike,” and praised the band’s composition, saying, “It feels real to me.”
She was less impressed with Callahan, telling him, “You don’t feel to me like a guy who can break down doors and hustle.” She was out.
Kevin O’Leary made an offer of $200,000, but he wanted 50% of all the potential income. With no other offers on the table, Callahan countered, requesting another $100,000 for 40%.
Robert Herjavec offered to partner with O’Leary but stuck to the original deal of $200,000 for 50%.
Callahan asked for a break to talk to the band and came back with a reduced offer: $250,000 for 50%. Neither Shark was willing to budge. Callahan refused to negotiate further, and the Cab 20 band left the Shark Tank with no deal.
Cab 20 Shark Tank Update
In spite of the exposure provided by Shark Tank and subsequently releasing 3 albums, it seems as if Cab 20 has fizzled. Their social media hasn’t been updated since August 2014. It appears that the website no longer exists.
While a Shark deal might have launched them into success, it’s impossible to know if they would’ve been a rising star or a complete dud.
The Sharks are leery of uncertainty, and musicians are one of the riskiest investments to make. If the “Shark Tank effect” wasn’t enough to launch this band, the chances are that all the money in the world couldn’t have made them successful.
Despite the dissolution of Cab 20, frontman Bert Hoover continues to make music. On his Facebook Page, Hooveriii, he showcases his music. It just goes to show that music never really dies; it just reinvents itself.
As of July 2025, the band Hooveriii has 9 albums. They play all across the USA and Europe and have appeared on platforms like KEXP.
Cab 20 is no longer active, and the current net worth is $0.
Posts About Cab 20 On Shark Tank Blog
Read more information on Cab 20’s Shark Tank appearance.
Where Can You Buy It?
You can check out their music on streaming sites like Spotify, Apple Music, etc. More details on their past updates can be checked out on their social media, Twitter (X). Currently, the page is inactive like the band itself.
Quick Summary
- Tom Callahan pitched Cab 20, a band he manages, on Shark Tank, seeking financial support and industry connections.
- The pitch faced major concerns about the music industry’s risks and the exclusion of publishing royalties from the deal.
- Eventually, Callahan left without a deal despite some interest from Kevin O’Leary and Robert Herjavec.
The music may have faded out, but how did the other businesses fare in the same Shark Tank episode? Read for more Shark Tank Business Updates!
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- Mix Bikini Shark Tank Update
- Billy Blanks Jr.’s Dance With Me Shark Tank Update
