Why Amazon Is Making It Easier to Buy ‘Shark Tank’ Products
A new partnership could help Amazon get an early look at ‘Shark Tank’ companies that would make attractive acquisition targets.
PHOTO CREDIT: Getty Images
Amazon is diving even deeper into the Shark Tank business.
The e-commerce giant launched a new store on its website Monday dedicated exclusively to Shark Tank companies. Though Amazon has sold goods from Shark Tank entrepreneurs in the past, the new site is the company's first online store featuring only Shark Tank products and lets consumers search by businesses that made deals with multiple sharks. More than 70 products that landed investments between seasons one and nine are available in the new collection, and products from season 10 will be added in the future.
By partnering with Shark Tank companies, Amazon could get an early look at which products are generating the most sales online, which could help inform decisions about potential acquisitions. In February, the company acquired entrepreneur Jamie Siminoff's wifi-enabled video doorbell startup Ring for a reported $1 billion. Siminoff appeared on Shark Tank in 2013, but left without getting a deal.
Amazon's new online store could also help the company sign up more businesses for Amazon Web Services, the company's on-demand subscription cloud computing service that businesses use to manage e-commerce activity. As an incentive for Shark Tank entrepreneurs to sell through the new site, Amazon is offering a $15,000 credit for Amazon Web Services.
Shark Tank companies with products listed on the new site can continue to sell their products on their own site and through other online retailers. Amazon's new Shark Tank retail site is a part of Amazon Launchpad, the online platform for startups that sell physical products, which Amazon launched in 2015.