Why Did Shark Tank Pass The Table Tyke?

Shark Tank passed on The Table Tyke for several reasons. The founder’s $1 million valuation raised concerns, as the Sharks felt it was too high for the company’s sales and growth. The sharks questioned the product’s market potential and scalability, with Robert Herjavec doubting its ability to generate significant returns.

 Sharks also believed the founder was already succeeding without needing their investment. Lori Greiner and Barbara Corcoran noted that adding an investor might not be necessary. Despite no deal, the exposure from Shark Tank significantly boosted the company’s sales and visibility.

Berlyn Haughton, the entrepreneur behind The Table Tyke, pitched her silicone placemat on Shark Tank seeking $100,000 for a 10% equity stake in her business.

Despite the sharks appreciating the product’s innovative design, which includes a table-edge bumper for safety and hygiene, none chose to invest. The primary reasons cited were that the sharks believed Haughton was already on a successful path and did not require their assistance.

Lori Greiner and Barbara Corcoran specifically mentioned that sometimes it is better not to bring in an investor, while Mark Cuban and Kevin O’Leary felt they were not the right fit for the product.

Although Haughton reported impressive growth—from $24,000 in sales in 2021 to a projected $200,000 in 2023—the sharks questioned why the sales weren’t higher given the product’s popularity, indicating a need for more robust marketing strategies

The Table Tyke

The Table Tyke, founded by Berlyn Haughton, appeared on Shark Tank Season 15, Episode 11 seeking $100,000 for 10% equity, valuing the company at $1 million. The Table Tyke is a multi-functional silicone placemat designed to prevent mealtime accidents, especially for young children, featuring a unique bumper design that protects kids from table edges.

The following are key features of her product:

• Unique Bumper Design: The placemat includes a bumper that hugs the table edge, preventing children from hitting their faces on hard surfaces and reducing the risk of germs.
• Versatile Use: It can be used for meals as well as activities like play dough, painting, and baking, making it a multifunctional tool for parents.
• Sales Growth: Berlyn reported sales of $10,000 in 2020, $24,000 in 2021, and projected $200,000 for 2023.

The Table Tyke is available for purchase online, including on platforms like Amazon, and comes in various colors such as gray, green, pink, and blue. The standard version retails for $24.99, while an “XL” version is priced at $34.99, catering to different needs and preferences.

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Reasons Shark Tank passed on The Table Tyke

Shark Tank passed on The Table Tyke for a few reasons:

• Valuation Concerns: The founder, Berlyn Haughton, valued her company at $1 million, seeking $100,000 for 10% equity. The Sharks may have felt the valuation was too high given the company’s sales figures and growth trajectory.
• Market Potential: Some Sharks questioned the potential market size and the product’s scalability. Robert Herjavec expressed concerns about whether the product could generate significant returns.
• Investment Necessity: Many Sharks believed that Haughton was already on a successful path without needing their investment. Lori Greiner and Barbara Corcoran specifically mentioned that sometimes bringing in an investor is not beneficial when the entrepreneur is already doing well independently.

Despite not receiving an investment, the exposure on Shark Tank led to a boost in sales and visibility, showcasing the positive “Shark Tank” effect.