Shark Tank Season 16 Cast
Shark Tank new season is here with fresh stories and creations by entrepreneurs. Promising to be an ideal platform for risk-takers and those who dare to dream, the Shark Tank Season 16 has hit the small screen on 18 October, 2024. With new faces joining the investors’ panel, the season is being projected as better than ever.
The episode begins with a video clip showing critical highlights of the season. From laughs to tear-jerking moments, investors excited about deals to criticizing entrepreneurs, the coming episodes appear to be a roller coaster of emotions and entrepreneurial nitty-gritty.
Rashuan Williams is the newest Shark appearing as a guest investor for the first time on the show. Along with the regular names, including Mark Cuban, Kevin O’Leary, Daymond John, and Lori Greiner, he heads the judges panel on Shark Tank Season 16
The experienced venture capitalist is ready to hear the business pitches and decide whether to make the deal along with the known names on the show. Will the Sharks take a bite out of any of the businesses brought to them?
Shark Tank Season 16 Pitch 1: Little Saints
Advocate turned entrepreneur Megan Klein presents the first pitch of the season with Little Saints. The company provides an unique mushroom-based cocktails that deliver the taste of alcohol along with the benefits of ingredients that are plant-based.
Megan goes to Sharks, seeking $500K for 5% equity in her unconventional cocktail venture.
Shark Tank Season 16 Pitch 2: TruFit Customs
Matthew Hall brings the second pitch of Shark Tank Season 16 Episode 1 to the judges. Along with his friend Victor Adamo, he founded TruFit, a company that offers customized mouthguards specially designed for athletes. This sports-based equipment is supported by 3D technology.
The entrepreneur approaches the investors on Shark Tank to seek a $750K investment in 5% equity in his company.
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Shark Tank Season 16 Pitch 3: 1587 Sneakers
Adam King and Sam Hyun are the next entrepreneurs who hope to secure a deal on the Shark Tank new season. Their company, 1587 Sneakers, offers a line of sneakers made in Italy and demonstrates their dedicated focus on the Asian-American user base. Other items sold are t-shirts, slippers, and caps.
The entrepreneur duo of Adam and Sam try their luck on Shark Tank by seeking $100K for 15.87% equity in their sneaker brand.
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Shark Tank Season 16 Pitch 4: Card.io
Destin George Bell, a tech entrepreneur based in Louisville, presented the final pitch of Shark Tank Season 16 Episode 1. He pitched an app-based gamified version of Card.io, hoping to bag a deal from one of the Sharks.
Destin, demonstrating his previous experience in the tech world, asks for $150K at 5% equity in his business.
Entrepreneurs Featured in Shark Tank Season 16 Episode 1
The first episode of the Shark Tank new season presents the audiences with four pitches brought by entrepreneurs of different domains. One thing that is common in all the ventures brought to the Shark Tank is that they are all still in their early stages. Some have already made huge, while others are on the verge of growth.
Regardless of the stage of their business, every pitcher hopes to win over the investors and bag deals that will help them scale their business.
1. Megan Klein
Business Name: Little Saints
Product:
- Little Saints offers a range of non-alcoholic cocktails made up of functional mushrooms like Lion’s Mane and Reishi.
- The products provide the taste of cocktails and the benefits of plant-based ingredients with sugar-free drinks.
- Some of its offerings are Paloma, Ginger Cape Codder, Secret Garden, and Grapefruit Shandy.
Deal Status: No
Net Worth of Little Saints: The current net worth of Little Saints stands tall at a whopping $14.64 million.
2. Matthew Hall
Business Name: TruFit Customs
Product:
- TruFit Customs offers customized sports equipment supported with 3D technology.
- Its primary offering is customized mouthguards for athletes.
- The range of products includes Vaporbite, a whitening kit, a sports mouthguard, a retainer, and a nightguard.
Deal: After intense negotiations, offers, and counteroffers, TruFit Customs bags a deal from guest Shark Rashuan Williams.
Net Worth: The latest update about the TruFit Customs net worth is that it has touched the massive figure of $10.98 million.
3. Adam King and Sam Hyun
Business Name: 1587 Sneakers
Product:
- 1587 Sneakers offers a wide variety of items like sneakers, t-shirts, slippers, and caps.
- Their primary offering is the Italian sneaker range.
- Each product is focused on Asian-American users.
Deal: No Deal
Net Worth: As of 2024, the net worth of 1587 Sneakers is around $924K.
4. Destin George Bell
Business Name: Card.io
Product:
- Card.io offers a specially devised app that promotes Cardio through a gamified approach.
- The app enables community building and makes users fit through its ‘turf of war.’
- With his app, users can join teams, participate in virtual events, and bag awards.
Deal: Destin George Bell manages to secure a deal on Shark Tank Season 16 Episode 1 with guest Shark Rashuan Williams and Daymond John.
Net Worth: Card.io’s net worth has gone over the $1 million figure by 2024.
Shark Tank Season 16 Episode 1: Guest Shark
The first episode of the Shark Tank season presents viewers with an update segment that covers the profile of guest Shark Rashuan Williams. Describing himself as an investor and a financial literacy advocate, Rashuan reflects on his humble beginnings in the South Side of Chicago.
In the segment, he shares details about his struggles, dreams, and journey as a kid who watched people live the American dream from afar. He then discusses his evolution to becoming a venture capitalist with investments in Coinbase, Ring, and Robinhood.
Rashuan Williams then sheds light on his experience with venture capital and dozens of other businesses across the US. He also discusses why he has been particularly active in the sports and entertainment industries.
The guest Shark investor elaborates further on his role as a mentor for budding entrepreneurs. He shares details from his personal journey and motivates them to take action.
Rashuan ends the segment by talking about his take on success and how he has managed to make it this far.
Sharks in Season 16 Episode
In every new Shark Tank season, the judges get to assess a wide variety of products/services brought to them by different entrepreneurs. Based on their evaluation of the pitch, proposed valuation, and business vision, they make the final call on whether or not to invest in it. Below is a detailed overview of their investments in the first episode:
1. Mark Cuban
Mark Cuban refrains from making an offer in Shark Tank Season 16 Episode 1. But just like in previous seasons, he offers valuable input to the pitchers, which will help them in the long haul.
Notable Investments: None
2. Rashuan Williams
Demonstrating his rich experience as a venture capitalist, Rashuan Williams makes cautious choices in the Shark Tank new season. His deals reflect his understanding of the business type, as he made two investments related to sports and technology. Both these verticals are areas in which he had previously invested.
Notable Investments: TruFit Customs, Card.io
TruFit
- Rashuan says he is offering things worth more than millions of dollars because of his previous track record and investments in Coinbase, Robinhood, Casper, Dropbox, and Ring.
- He will bring in 10-15 athletes as ambassadors or investors in the business.
Card.io
- Rashuan discusses his previous hundreds of software investments, showing that he is a good partner for the entrepreneur.
3. Daymond John
Through his investment in Card.io, Daymond John shows again why he is called ‘The People’s Shark.’ He makes the offer after being touched with the backstory of entrepreneur Destin George Bell.
He related to the grit of the entrepreneur and said his story of sending repeated emails reminded Daymond of his entrepreneurial day.
Notable Investments: Card.io
4. Kevin O’Leary
Kevin O’Leary makes one offer out of the four pitches presented on Shak Tank Season 16, Season 1. It does not transform into a deal, though. The offer reflects Kevin’s competitive side, as he does not shy away from having small arguments with fellow Shark investors.
Notable Investments: None
5. Lori Greiner
Lori Greiner does not make any offer for any of the four businesses pitched in front of her. The main reason she gives for opting out of the deals is her inability to offer something relevant owing to her different portfolio.
Notable Investments: None
The inaugral episode of the Shark Tank new season offers audiences pitchers belonging to diverse verticals. From Megan Klein’s background in law and health-based ventures to Sam Hyun’s rich experience in the sneaker industry and Matthew Hall’s association with sports to Destin George Bell’s tech expertise, the variety is intriguing.
The Sharks were oblivious to the type of business they will encounter and hence see each one from a fresh perspective. The negotiations, too, were fresh and conducted on the spot. Based on their feelings about a product/service and its potential success or failure, the investors decide whether to make a deal with the entrepreneurs
After the entrepreneurs do bag offers on Shark Tank Season 16 Episode 1, their story does not end here. After the on-air deal, the Shark investors will carefully analyze the company through a due diligence process. Based on this information, they will make the final decision on whether to stay associated with it or not.
