Shark Tank returns: New season to air tonight

It’s been a long time between visits to the Shark Tank for Aussie entrepreneurs but all that changes tonight, with the reality TV show for entrepreneurs once again returning to our screens.

The first episode of the fifth season of Shark Tank Australia will premiere at 7.30pm tonight, Tuesday, August 29, with a fresh bunch of founders seeking to impress an equally fresh group of sharks.

Shark Tank entrants will be pitching to Oodie founder Davie Fogarty, Showpo founder Jane Lu, King Kong founder Sabri Suby, Responsible Metaverse Alliance founder Dr Catriona Wallace, and Shark Tank veteran Robert Herjavec.

Four seasons of the Australian version of Shark Tank were produced between 2015 and 2019, at which time it was “rested” by Network Ten, although there were hopes a fifth season would eventuate.

Helmed by sharks Naomi Simson, Glen Richards, Janine Allis, Steve Baxter and Andrew Banks, the show recorded ratings of between 520,000 to 650,000 viewers across its four seasons, attracting a loyal following among the business and startup community and regularly being recapped by SmartCompany and other media organisations.

A number of businesses that appeared in the Shark Tank have gone on to achieve considerable success, including the likes of Be Fit Food, HEGS, Car Next Door and Cardly, while iCapsulate, the startup that attracted the single biggest offer from one of the sharks at $2.5 million, was marred by controversy in the months after its episode aired, and collapsed into administration in September 2018.

That deal was one of many that did not pass due diligence after the show aired.

In its fourth season, the total amount invested (or offered) by the sharks was close to $5 million.

Stay tuned for a special Shark Tank edition of the SmartCompany newsletter on Wednesday, August 30, 2023 and read all of our Shark Tank coverage here.