Credit: Deadline
Highlights
- The latest Shark Tank season will hit screens on October 18, 2024.
- The newest panelist owns a fortune of $2.3 billion.
- Some previous key investments of Mark Cuban’s replacement include HummViewer, FitFigher, and Tandem Boogie.
Set to kickstart its sixteenth season on October 18, 2024, Shark Tank has become the talk of the town for multiple reasons. The most prominent one of them all is Mark Cuban’s last stint as a regular investor on the widely popular show. Putting an end to countless speculations, the production put a stamp on his exit and replacement.
This is the last season of Mark Cuban as a Shark on Shark Tank. However, the other Sharks, who were already there, will continue their term as key investors.
But the latest addition to the panel is Daniel Lubetzky, who will not just join the show as a regular Shark but also replace Mark from next year.
Who is Daniel Lubetzky?
An eminent business figure and billionaire, Daniel Lubetzky holds decades of experience in the entrepreneurial vertical. In 2004, he began his health-conscious brand Kind Healthy Snacks, which was reportedly sold to Mars for a whopping $5 billion four years ago.
Daniel’s huge fortune amounts to $2.3 billion, which makes him one of the richest judges on Shark Tank. After selling his venture, his attention is driven towards Camino Partners, an investment hub. His portfolio further includes his role as Maiyet’s co-founder, along with a founder’s position in Equilibra.
Daniel’s Journey With Shark Tank
If you are a regular follower of the show, you might know that Daniel Lubetzky is not an old name. He often appeared in many episodes as a guest judge right from the eleventh to fifteenth season. But what makes his transition from a Guest Shark to a regular Shark crucial is the fact that this would be something that did not happen in the past 10 years.
This is the first time a new name has joined the judges panel ever since Mark Cuban and Lori Greiner joined the show as investors. As Mark will still be an active Shark this season, Daniel will get a good opportunity to ace the nuances of a constant Shark Tank panelist in season 16.
Speaking about his new journey, an excited Daniel revealed to Variety that he was honored to be associated with a show that is keen on entertaining, educating, and uniting Americans toward the idea of building together. Further, he was hopeful of working with diverse entrepreneurs in helping them accomplish their American dream.
In his previous seasons as a Guest Shark, Daniel made the following landmark deals:
1. FitFighter
Brought to the judges by Sarah Apgar, FitFighter provided fire hose training weights. The investment sought was $250K for 15% equity. Sarah wanted to sell the product to firehouses and the military. While the other investors refrained from making an offer, then Guest Shark Daniel Lubetzky showed his interest. He offered $250K for 25% equity, which Sarah accepted.
The deal was a successful one, as the company now makes an annual revenue of more than $1 million.
2. HummViewer
The entrepreneur duo of Joan and John Creed made their way to the investors, with HummViewer seeking $75K for 10% equity. The product, a hummingbird feeder mask, allowed nature enthusiasts to have a closer view of the bird. All the regular Sharks felt the idea was a hobby but did not have the potential to become a full-fledged business.
However, remembering his connection with hummingbirds, an emotional Daniel Lubetzky did make an offer at $75K for 35% equity. The entrepreneurs accepted the deal.
As of 2024, the projected sales for the year are more than $500K.
3. Tandem Boogie
Tandem Boogie was a family business brought to the investors by John and Manya Clark, who appeared along with their daughters on the show. The company offered bodyboards for all ages and could be used for different surfing activities. They sought $100K for 10% equity.
The only two interested Sharks were Robert Herjavec and Guest Shark Daniel Lubetzky, who joined hands and sealed the deal for $100K at 35% equity.
By 2023, the company’s lifetime revenue went past $1 million.
Extra Scoop
The deal signed with Daniel Lubetzky is a multi-season deal, which means you may expect him to be a part of the show for a long time. The makers also revealed the names of Guest Sharks for the season, including Todd Graves and Rashaun Williams.
Bottomline
With Season 16, Shark Tank is ready to bring a major shift with Mark Cuban’s exit. The show is all set to welcome Daniel Lubetzky as his replacement, who was previously associated with it as a Guest Shark in multiple seasons.
Daniel’s presence is expected to bring fresh new perspectives and support a variety of entrepreneurs, as has been demonstrated in his previous deals on the show through FitFighter, HummViewer, and Tandem Boogie.
References
1. A New Shark Joins the Tank as Mark Cuban Departs, New York Times, Jordyn Holman
2. ‘Shark Tank’ Names Kind Snacks Founder Daniel Lubetzky as First New Regular Investor in More Than 10 Years, Variety, Selome Hailu
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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