Every mobile app founder’s journey is different. Sometimes, you get funding through close friends and family, building your idea out of a garage until you have the next killer app on your hands. Other times, you’re the talk of the town in Silicon Valley and VCs are jumping down your throat to get in on the ground floor. And then there are those rare times when you find yourself in front of five serial investors on national TV, pitching your idea in one of the most stressful entrepreneurial environments.

That high-stakes scenario, the hit ABC show Shark Tank, lives up to its name by throwing founders directly into the deep end full of hungry business people. The sharks demand proven growth and traction, strong revenue models, and confident long-term strategy to ensure their money goes to the right people — and the right ideas.

Mobile subscription apps have appeared on the show, providing insightful lessons for future founders on how to pitch to investors. Here are five memorable mobile app success stories that made it to the Tank — and noteworthy takeaways for your business.

Coffee Meets Bagel – Raised $23.2 million in Series A, B

Coffee Meets Bagel is a dating service that pairs people up based on friend circles, using social media to help create ideal pairings. The app was launched in 2012 by sisters Arum, Dawoon, and Soo Kang, listed in the Lifestyle category of the App Store. Though largely a free service, CMB supports a Premium version for $34.99/month, as well as an in-app virtual currency called “beans” that can be purchased in sets of 50 or more to access individual premium features.

The pitch

Coffee Meets Bagel appeared on Shark Tank in January 2015 on Season 6 Episode 13.

During their appearance, the CMB founding sisters asked for $500,000 for a 5% stake in their company. They positioned their dating service as more long-term focused and female-oriented, which at the time presented a substantial difference from Tinder. While the sharks were intrigued by the premise, they were turned off by the fact that the company was actively losing money, had low ROI per customer, and that the three founders were taking relatively high salaries ($100,000 each).

The outcome

The sisters received one major offer from Mark Cuban.

This amount is to this day the highest single offer in the show’s history. Though enticing, CMB turned it down, citing Match.com’s $800 million in yearly revenue as proof of a much higher value ceiling for their matchmaking service.

Where are they now?

CMB has gone on to accrue $23.2 million in funding from various venture capital sources, helping them maintain steady user growth as the dating app market has expanded. With more direct female-focused competitors like Bumble and Zoosk gaining popularity, they’ve pivoted to a focus on young professionals seeking meaningful relationships.

Bottom line

CMB’s Shark Tank appearance showcases the importance of stressing revenue-driving value to investors, especially for subscription apps. Without a high level of average customer ROI or long-term value, investment interest will be underwhelming at best.

Sworkit – Raised $2.4 million in multiple rounds of funding

Sworkit — short for “Simply Work It” — is a fitness app billed as a “personal trainer on your phone.” The service in its current form launched on the App Store in 2014 categorized under Health & Fitness. Eschewing any IAA or IAP monetization, Sworkit earns revenue almost entirely from subscription payments, with monthly tiers starting at $9.99 (or $59.99 for an annual contract).

The pitch

Sworkit appeared on Shark Tank in February 2016 on Season 7 Episode 18.

Co-founders Ben Young and Greg Coleman came out asking for $1.5 million for 8% equity. They intrigued the investors with their deeply customizable workout system, which they referred to as the “Spotify of workouts.” At the time, they had an ad-supported freemium model with a Pro version available for a one-time payment of $3.99 — though planning to transition to a full subscription model within the year.

The sharks appreciated the idea, the platform, and the future programs, like a Youth version to engage kids in physical activity. However, they questioned the reliance on ad dollars and low freemium-to-Pro conversion.

The outcome

Ben and Greg received two opposing offers from Kevin O’Leary and Mark Cuban.

Ultimately, the Sworkit founders accepted Mark’s offer, thrilled by his valuation that felt close to their own and excited to have his strategic input as someone who’s close to the world of sports and fitness.

Where are they now?

The final deal ultimately broke down due to some behind-the-scenes due diligence issues. The company has since transitioned to a full subscription model, eliminating the freemium and IAA revenue centers entirely. They’ve also since launched their Youth and Enterprise programs.

Bottom line

Mark Cuban’s offer to Sworkit showed how IAA could be leveraged in funding a freemium subscription app. Though the deal didn’t go through and the company no longer uses IAA, their revised model shows promise with consistent revenue and user growth.

Hopscotch – 500% growth in YOY downloads

Hopscotch is a learn-to-code app for kids ages 6 to 16. The service launched on the App Store in 2012 in the Education category. Originally a free tool, it has since expanded into a subscription model at $7.99/month for parents with additional pricing options for educators and institutions. Considering its youth and educational focus, it doesn’t use IAA or additional IAP for revenue.

The pitch

Hopscotch appeared on Shark Tank in February 2021 on Season 12 Episode 15.

Founder Samantha John introduced Hopscotch seeking $400,000 at a 4% stake in the company. Her goal was to expand the free offerings of her subscription service to include even more content for first-time users, in keeping with her company mission. The sharks were impressed with the service and the customer base Samantha and her team had attracted but were worried about losing the income stream from removing the profitable paywall.

The outcome

Samantha received a single offer from Mark Cuban, whose interest stemmed from the fact that his kids were already active users.

After some negotiating, they landed on a final deal of $550,000 for 11% equity, which Samantha accepted.

Where are they now?

Hopscotch gained strong notoriety following its Shark Tank debut and, with the enthusiastic entrepreneurial support of Cuban, saw nearly 500% growth in downloads. Though recent, the service is already one of the most significant consumer subscription app successes in the show’s history.

Bottom line

Hopscotch is a story of balancing your ethics as a founder with creating a pathway to sustained growth. Investors and customers alike were impressed with Samantha’s appearance on Shark Tank in which she displayed clear revenue markers while indicating her commitment to making the service as accessible as possible.

Simple Habit – Raised $10 million in Series A

Simple Habit is a mindfulness service app that offers custom meditations with easy access — no matter the user’s schedule. The service launched on the App Store in 2016 and is listed under the Health & Fitness category. A largely freemium service, they offer tiered subscriptions for premium and profession-specific content starting at $11.99/month.

The pitch

Simple Habit appeared on Shark Tank in October 2017 on Season 9 Episode 1.

The company’s founder, Yunha Kim, came out seeking $600,000 for 5% in company equity. Finances were impressive and showed consistent, steady growth in just a year of business. However, when the sharks probed Yunha on exactly what she wanted out of them, they were concerned her intention was to use them for their brand value and ability to attract other influencer-type personalities as opposed to directly contributing to the business’s fiscal growth.

The outcome

Kim received a single, combo offer from Robert Herjavec and guest investor Richard Branson.
Robert and Richard’s Offer: $600,000 for 20% equity (split evenly)

Considering their value as influencer-entrepreneurs, they felt a bigger stake was necessary than the company’s active value. Though they went as low as 15% equity, Yunha ultimately turned down the deal.

Where are they now?

Following the controversial appearance, Yunha and Simple Habit still found new avenues of success for the app with 2.5 million new downloads during the next two years. They also secured an additional $10 million in Series A funding to help the app commit to new user growth, the overall intention of Yunha’s Shark Tank visit.

Bottom line

Though the app continues to thrive, Simple Habit’s Shark Tank appearance reveals an essential funding truth — founders need to be sure they have a clear financial plan when presenting to investors. Without a thoughtful and convincing strategy to how you’ll spend the money, the likelihood of investment drops dramatically.

Novel Effect – Raised $3 million in Series A

Novel Effect is an interactive storytelling app for families. It uses voice recognition technology to trigger sound effects and music when parents read to their kids, encouraging greater interest with reading and literacy from a young age. The app launched on the App Store in 2015 in the Books category, offering a simple subscription model of $4.99/month for parents with special discounts for educators and public libraries.

The pitch

Novel Effect appeared on Shark Tank in October 2017 on Season 9 Episode 6.

Founding couple Matt and Melissa Hammersley came out asking for $500,000 for a 10% stake in their company. The idea split the sharks — some loved its uniqueness, as well as a lucrative partnership with Amazon’s Alexa Fund, while others hesitated at a subscription model that they felt lacked enough content to convert a profitable amount of users.

The outcome

The Hammersleys received a single offer from Lori Greiner.

After some back and forth — including a potential two-shark deal that would bring in guest shark Sara Blakely, the founder of Spanx — the couple landed and accepted a final deal of $500,000 for 15% equity.

Where are they now?

The Novel Effect founders ultimately rescinded their deal with Lori Greiner, believing that it undervalued their company. After their Shark Tank stint, the couple continued their funding pursuit, ultimately closing $3 million in a Series A. This boost helped them expand their content roster, a major impediment for the sharks at the time, including a partnership with the Jim Henson Company. Coupled with a Play Store launch, further integrations with Amazon’s Alexa, and winning a Webby Award, the company continues its steady journey to success.

Bottom line

Novel Effect is one of the most outside-the-box ideas on this list — a level of individuality that both helped it stand out during the funding process but also failed to get some early adopters on board. The main takeaway here for early founders is to ensure the value of your subscription service’s content since it’s one of the essential features in maintaining high levels of user retention and subsequent profitability.

No two funding strategies are the same, and even those founders who get the chance to go on Shark Tank don’t all leave with the equity investments they had in mind. When thinking long term about your capital stack, be sure to maintain diversity in your different avenues of funding. Whether you’re sourcing from banks, VCs, or non-dilutive funding from Braavo, the true measure of success is in how you convincingly secure that funding, and what you do with those dollars to push your app further.