What Happened To Neuro After Shark Tank
"Shark Tank" is a popular ABC series which reminds us that the American dream is still alive and well. In the tank, entrepreneurs pitch their businesses looking for a life-changing investment. Some products seem ridiculous, like a surgically-implanted Bluetooth device or socks that come in threes to replace the side that always goes missing. Other pitches land deals that lead to successful businesses. Bombas, a sock and T-shirt company that donates to the homeless community, has lifetime sales of over $225 million. Scrub Daddy, a unique reusable sponge, surpassed the $200 million mark too.
Neuro is another business that went on to make loads of cash with its unusual product. Instead of offering up a tried and true classic like energy drinks in order to boost the vigor of the drinker, Neuro made its name selling energy gum and mints after their episode aired in 2020. But Neuro, like the sock trio and implanted electronics, left the tank without a deal.
Neuro did not get a deal on Shark Tank
Entrepreneurs Kent Yoshimura and Ryan Chen came into the tank asking for $750,000 in exchange for 5% equity in their business. They pitched their company, Neuro, as gum and mints made from natural caffeine, L-theanine, and vitamin B. It was a way to get a much-needed energy boost without crashing or loading up on sugary drinks.
Neuro already had over a million dollars in revenue when they filmed their pitch to the sharks in August 2019, and their brain and health-conscious product intrigued two Sharks. Robert Herjavec was willing to part with a million dollars for 20% equity of Neuro. Kevin O'Leary offered Yoshimura and Chen the $750k for 5% they asked for, but with a 50 cent royalty until he recouped a million dollars. O'Leary stood firm on negotiations while Herjavec dropped to a 14% equity buy-in, but the businessmen left without a deal.
"We had a great time in there but the deal terms didn't make sense," Yoshimura told Insider. "It was an insane experience. We were in there for almost two hours, but they cut it down to seven minutes," the CEO added. Despite leaving the tank empty-handed, Neuro is a successful business with millions in profit.
Neuro's post-Shark Tank success
The "Shark Tank" star's net worths are in the million-dollar range, but so is Neuro's. Neuro has sold over 50 million pieces of gum and mints, and the company has been featured in Time magazine, Forbes, The New Yorker, Buzzfeed, Fast Company, and Entrepreneur magazine. It is also endorsed by celebrities like Joe Rogan.
Kent Yoshimura credits their achievements to the Neuro team's mindset. In an interview with Insider, the CEO shared, "I think that our honest and naive way of approaching business, and being so much more focused on just creating a good product than anything else, is the reason we're in the place we're at now."
As for not getting a deal, COO Ryan Chen doesn't regret leaving without a Shark on board. "That was the best decision we've made," Chen shared on TikTok. "You know, fast forward, we just got an investment from a Fortune 100 company. They're going to take us globally, and the valuation was vastly higher than what we went in on "Shark Tank," and, like I said, know your worth." Neuro definitely knew they were worth a pretty penny — much more than the Sharks wore willing to pay.