Season 2 had 9 episodes, 5 of them featuring new panel members. Season 2 premiered with a "sneak peek" episode on Sunday, March 20, 2011, before resuming its regular Friday night time slot on March 25, 2011. In August, it was renewed for a second season. Shark Tank premiered in August 2009 and aired 14 episodes through January 2010. Main article: List of Shark Tank episodes Season Two of the show's longstanding sharks, Robert Herjavec and Kevin O'Leary, are Canadian entrepreneurs who had previously appeared on the Canadian version of Dragons' Den. Some entrepreneurs have reported revenue increases of 10–20 times after the show's airing. Simply appearing on the show, even without getting an offer, has the potential to significantly boost sales for companies. The show is often responsible for what has become known as the Shark Tank effect. Fellow Shark Robert Herjavec believes that about 90% of those withdrawals come from the entrepreneur, in some cases due to only appearing on the program for publicity. Shark cast member Kevin O'Leary believes about 20% of the handshake deals made on the show are never executed, due to the investors' due diligence process following the handshake deal, which includes product testing and examining the contestants' business and personal financials. As of the 2018 season, about 40,000 companies apply each season with 158 getting to pitch the Sharks and 88 of those making it to air. A pitch of around 45 minutes by a contestant is edited down to "a segment roughly 11 minutes long".
The show is said to portray "the drama of pitch meetings and the interaction between the entrepreneurs and tycoons". However, if all of the panel members opt out, the entrepreneur leaves empty-handed. The entrepreneur can make a handshake deal ( gentleman's agreement) on the show if a panel member is interested. The sharks are paid as cast stars of the show, but the money they invest is their own. Some of the investors are usually kindhearted and try to soften the impact of rejection, like panel member Robert Herjavec, while others such as Kevin O'Leary can be "brutal" and show "no patience even for tales of hardship". The sharks often find weaknesses and faults in an entrepreneur's valuation of their company, product, or business model. The show features a panel of investors called "sharks," who decide whether to invest as entrepreneurs make business presentations on their company or product.
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On May 13, 2021, ABC renewed the series for a thirteenth season, which premiered on October 8, 2021.
On May 21, 2020, ABC renewed the series for a twelfth season, which premiered on October 16, 2020. On February 5, 2019, ABC renewed the series for an eleventh season, which premiered on September 29, 2019. Prior to that (2012–13), it won Outstanding Reality Program. The series has been a ratings success in its time slot, winning the Primetime Emmy Award for Outstanding Structured Reality Program four times (2014–2017) in the first four years of that category's existence. It shows entrepreneurs making business presentations to a panel of five investors or "sharks," who decide whether to invest in their company. The show is the American franchise of the international format Dragons' Den, which originated in Japan as Money Tigers in 2001.
Shark Tank is an American business reality television series that premiered on August 9, 2009, on ABC.