Summary

• Business owner Sean Adler wowed the sharks with his Nana Hats banana stem caps to extend freshness.
• Adler made a deal with Peter Jones and Lori Grenier for $150,000 and 20% of the compnay.
• The "Shark Tank effect" boosted Nana Hats' exposure, with investment opportunities and media appearances.

Nana Hats is one of the strangest companies to come through the Shark Tank, leaving a big question mark if things worked out after the episode. Shark Tank, the acclaimed reality series based around pitching business ideas and inventions to a regular of sharks who are leaders in their respective industries, entered its 14th season in September 2022. Mark Cuban, Daymond John, Lori Greiner, Kevin O'Leary, Robert Herjavec, and Barbara Corcoran returned to their posts alongside some guest sharks like Peter Jones, Daniel Lubetzky, Tony Xu, and Gwyneth Paltrow.

Plenty of successful products have come through Shark Tank and, many times, a product that looks ridiculous or nonsensical ends up being a winner because of either how strong the business plan is behind it, or because of the charisma and leadership of the person selling. When both the business plan and the CEO come together as an impressive package, even the oddest products can become cash cows. One of these cases is a seemingly silly product known as the "Nana Hat" backed by a man with a serious business mind.

Nana Hats Made A Deal With Peter Jones & Lori Grenier On Shark Tank

Sean Adler Made A Deal With The Sharks For $150,000 & 20% Of The Company

"Nana" is short for "banana", making "Nana Hats" just that — tiny caps to place on top of the stems of bananas. Season 14, episode 8 features Sean Adler, the owner and inventor of the company, who was sick of seeing his bananas rot so quickly. He understood that ethylene gas is released by plants as a ripening agent through the stems. By blocking the flow of the gas, Adler found he could dramatically extend his bananas' freshness period.

Adler added a dash of whimsy with a silicone cap fitted with a magnet that can be used with interchangeable, and adorable knit caps. They're not just cute, they're also successful, with $483,000 in sales in 2021. As ittedly out there of an idea as Nana Hats are, Adler perfectly explains why they are a product people want, and presents himself as a nice and easy-going but sharp business owner.

Mark is impressed but immediately backs out, as it's not in his wheelhouse and Daymond doesn't think the company needs a partner and backs out too. Adler wants $150,000 for 10%, but Lori Grenier and guest shark Peter Jones offer to go in together, but at $150,000 for 30% split between them. After some back-and-forth, the trio happily settles on $150,000 for 20%, split between the sharks.

Nana Hats Appears To Have Benefited From The "Shark Tank Effect"

Sean Adler And His Company Saw A Bump In Exposure After The Episode

As a recent Shark Tank product, it's almost impossible to determine whether the deal between Nana Hats, Lori, and Peter went through. There's a significant amount of due diligence that goes on when the cameras shut off before any money is handed over. Adler went on the Joe Pardo podcast to talk about what happened right after the show and discussed how he began stocking up on product after the taping, expecting the "Shark Tank effect", where the very fact of being on the show increases sales.

Adler was so sure of his product's success that he invited friends and family to his home for a watch party of the episode, without telling them about securing a deal. After the episode aired, Adler received over 12,000 emails offering to buy the company and invest. While the company's post-Shark Tank figures are unknown, Nana Hats appeared on The Today Show. The Nana Hats website has an "as seen on Shark Tank" banner as well, so it looks like Adler's fresh produce play will end up working out for the foreseeable future.