Mark Cuban's Affection For 'Shark Tank' Venture Sours After CEO's $40 Million Blunder: 'You blew it'

On a recent episode of ABC’s “Shark Tank,” billionaire Mark Cuban and the rest of the panel declined an investment opportunity with green burial startup Return Home.

As reported by CNBC, Micah Truman, CEO of Return Home, sought a $2 million investment for a 5% stake in his company, which values the startup at $40 million.

The Washington-based company, which converts human remains into compost within 60 to 90 days, presents itself as a cost-effective and eco-friendly alternative to traditional funerals and cremations.

See Also: IUntil 2016 it was illegal for retail investors to invest in high-growth startups. Thanks to changes in federal law, this Kevin O'Leary-backed startup lets you become a venture capitalist with $100.

However, Truman’s pitch fell through when he admitted that Return Home was “a money-losing company” that had generated $350,000 in revenue in 2022. Cuban and fellow Shark Kevin O’Leary questioned how the company’s valuation could nearly double from its previous $20.6 million in just a year.

Truman attempted to woe the judges with a “brand grab” strategy stating that not many funeral homes are good at marketing.

Despite the potential environmental benefits of the service and the “brand grab” argument, the sharks weren’t convinced of the startup’s financial viability, especially given the current cultural and religious challenges facing the human composting industry.

"Micah, you blew it. I'm out,” Cuban told Truman.

Truman remains confident in his company’s valuation, viewing their method as a major shift in the death care industry and a necessary alternative for the environment.

Read Next: AI Knows If You’ve Recently Smoked Cannabis, Researchers Say: Here’s Why They Care

Photo: Courtesy of Gage Skidmore on flickr