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Shark Tankhas seen a lot of influential and simply unparalleled ideas, and businessman cum investor Daymond John has been credited with scoring quite a few of those star-studded deals himself. One of the most respected investors in the reality show, he is also the founder of The Shark Group, so he has been commended for diving into some genuinely plausible investments.
That said, one of his rumored investments just may be able to pay off to establish him as a true legend on the ABC series: The EVP bags. Though this reported investment in the genius idea goes back nearly a decade, it seems like his rumored deed back then just may pay off immensely now, as Hurricane Helene and the incoming Hurricane Milton get ready to hit Florida.
Daymond John Made a Genius Rumored Investment inShark Tank8 Years Ago
In season 7 of the reality show, one of the most astonishingly simple ideas, pitched by co-founders Matthew Harris and Kenny Learner, featured the EVP bags aka the Extreme Vehicle Protection bags. These were large, waterproof bags designed to protect cars from extreme weather events – something that sharkKevin O’Learytermed as“a Ziploc baggie for your car.”
The usage of these was depicted to be extremely simple as well. All one had to do was drive their vehicle right inside the bag and zip it up. This would, in turn, seriously diminish the chances of the potential water damage that the vehicle would have suffered otherwise. And with all the extreme weather conditions on the rise worldwide, this did stand asa simple yet plausible idea.
Surprisingly enough, this simply genius idea didn’t ask for that much investment money either. For a 20% stake in EVP, the only major money investment Harris and Learner asked for was $50,000. But back then, not everyone saw the great potential it held, with other sharksMark Cuban,Lori Greiner, andRobert Herjavectapping out and passing on the idea.
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However, O’Leary andDaymond Johnweren’t among the backing out sharks. While the former put out a tempting offer seeking a $30 kickback for each bag sold over a fixed period, the latter put out an even more reasonable offer as he agreed to front the $50,000 asked for an increased stake in the the product: 33.3%. Being the better option, the cameras saw this deal close with John.
Daymond John’s Reported Investment Could Bear Serious Fruits Now
After the deal reportedly got closed onscreen, it seems like things seem to have worked out just fine for Matthew Harris and Kenny Learner. In 2016 itself,Buzzfeedlisted the product on its list of34 of the Best Productsfrom the reality TV series. Then there’s the official website of these bags itself (evpcovers.com), which has faced successful additions and quite a lot of sizes for the respective product over the years.
That’s not all. According to the exclusive turn of events, there are incredibly high chances that if this business continues to list out its products, then hefty profits might be in line. This stands true amidst the Helene hurricane, which has already passed over the USA, and the Milton hurricane, which is about to hit Florida after a major storm alert being issued for the state.
Effortlessly enough, these bags will come seriously in handy for users now that thoseextreme weather conditionsthey were pitched for seem to finally be hitting after nearly a decade. That said, if John’s rumored investment was indeed made for real, then hemight as well be calleda Shark Tank legend because of how much this idea will cash out in today’s day and age.
“This might be hard for some people to hear”: Shark Tank’s Kevin O’Leary Dropped a Truth Bomb about a Mistake He Made More Than 2 Decades Ago
But while the screens may have seen Harris and Learner join hands with John, this deal is still reported and not confirmed as studies show that a lot of the deals made on the show tend to fall apart or simply change after the fact (see reports fromFailory). That said, there are also chances that John may have bitten the dust had he not closed this deal, so fans might as well take this with a pinch of salt.
Shark Tank can currently be streamed on ABC Network and Hulu.
Mahin Sultan
Senior Writer
Articles Published :2478
Mahin Sultan is a Senior Writer at FandomWire, where she brings a fresh perspective to entertainment news. Having been in the field for over 3 years now, she has already written more than 2,000 articles across a variety of niches, from entertainment to health and fashion. This diverse experience has allowed her to quickly build a solid foundation and a deep understanding of the industry.
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Daymond JohnKevin O’LearyLori GreinerMark CubanRobert Herjavec
