In this article, we delve into the journey of Cab20, a rock band from Hermosa Beach, California, after their unprecedented appearance on ABC’s reality TV show, “Shark Tank”. Earning fame for their unique garage rock style, the band participated in the show not in search of business investment, but to gain exposure and showcase their music.
The unusual move sparked curiosity among viewers and industry insiders alike. Here, we’ll explore how this bold step impacted the band’s career trajectory, the opportunities it opened up, and the challenges they faced in the aftermath of their Shark Tank appearance.
What Is Cab20?
Originally, Cab 20 emerged as a rock ensemble comprising a group of youthful artists. Situated in the vibrant music scene of Los Angeles, the band was fronted by an 18-year-old lead vocalist and guitarist, Bert Hoover. Cab20 carved out their niche in the music world as a garage rock outfit, infusing their compositions with a harmonious blend of blues and stoner rock elements.
Pros:
- Unique Concept: One of the most significant advantages of Cab20’s proposal was its novelty. Bands rarely approach investors for a stake in their future royalty streams. This unusual approach set them apart and generated interest;
- Potential for High Returns: Music can be a lucrative industry, and a successful band can generate substantial royalties. If Cab20’s music resonated with listeners, the potential returns could be considerable;
- Strong Management: Tom Callahan’s involvement added credibility to their proposal. His belief in the band’s potential and his willingness to gamble on their success was a positive sign [2];
Cons:
- High Risk: Investing in a band is inherently risky. Music is subjective, and predicting what will resonate with audiences is challenging. Even bands with apparent potential often fail to achieve commercial success;
- Lack of Business Model: Cab20’s proposal lacked a clear business model. They were asking for an investment in their future potential without providing a concrete plan on how they intended to increase their fan base or generate higher revenues;
- Control Issues: Investing in a band could potentially lead to control issues. The Sharks would have a stake in the band’s future earnings, which could lead to conflicts over creative decisions;
What Did Users Say About Cab20 Band?
Users’ opinions about Cab20 Band are quite mixed according to the search results. On a Reddit thread, one user found them “unoriginal” and commented on the unusual choice of pitching a band on Shark Tank. However, their music seems to be appreciated by some, as seen on ReverbNation, where they are described as heavily inspired by contemporary rock bands like Queens of the Stone Age, as well as old Delta blues acts like Howlin’ Wolf and Son House [3].
Dravengrey.com criticized Cab20 and their manager for showing no real value or proof of success other than having recorded an album. But on AllMusic, users can explore Cab20’s discography including top tracks, albums, and reviews.
It’s worth noting that some search results refer to a property named CAB20 in Hamburg, not the band.
About the Founders Of Cab20
The band’s valuation at the time of their appearance was around $ 1 million. They had three albums to their credit, but their earnings were not disclosed. Their manager, Tom Callahan, believed that Cab20 had “that ‘it’ factor” and that they were on the brink of making it big.
The band’s frontman and singer/guitarist, Bert Hoover, has often drawn comparisons between their music and acclaimed acts such as The Black Keys, The White Stripes, and more recently, Queens of the Stone Age.
Another pivotal figure in the band’s journey is Band Manager Tom Callahan, who, in interviews, has revealed his year-long collaboration with the band, focusing on various aspects of their performance even before the idea of appearing on Shark Tank took shape.
In 2012, Cab20 made history by becoming the inaugural musical group to grace the Shark Tank stage, with hopes of piquing the investors’ interest in funding their musical endeavors. If successful, this endeavor had the potential to revolutionize the way music was financed.
Callahan noted that using venture capital to support music and entertainment was not novel, but the avenue they chose, involving a reality show, was distinctive.
Furthermore, it meant that the band would showcase their talent in front of an audience numbering 7 million viewers, each one a prospective fan. At that time, it was a prospect that Callahan considered virtually assured, regardless of the funding outcome.
The Pitch Of Cab20 At Shark Tank
Cab20 entered the Shark Tank with a truly novel proposition: treating a band as a business investment. Leading the charge was Tom Callahan, who introduced the brainchild of an 18-year-old musical prodigy, Bert Hoover. They sought a $ 200,000 investment in exchange for a 20% equity stake in the band’s future earnings [5]. The band then took the stage and delivered an electrifying performance, showcasing their song “Stomp”, which would later become one of their signature hits. The Sharks were visibly and audibly impressed, offering enthusiastic cheers and applause.
However, the mood shifted when Callahan explained that the investors’ share of earnings would exclude publishing rights. This announcement didn’t sit well with the Sharks, and they promptly raised concerns about Cab20’s plans. When questioned about his experience in the music industry, Callahan cited his work promoting various artists, including Lenny Kravitz and Shania Twain.
Daymond John noted that this venture would mark the first time Callahan was shepherding a band from inception to success. Therefore, the Sharks would essentially be investing in Callahan’s abilities as a promoter as much as they would be in the band itself, to which Callahan concurred.
Kevin O’Leary quickly pointed out the substantial risk involved in backing a music venture, given the low success rate of bands. He felt the risk was too great and withdrew from the deal.
Mark Cuban then declared himself out, expressing his apprehensions about the music industry, which he deemed the worst business on the planet. Daymond also opted out, citing past losses in the music business. Barbara, although fond of the band, questioned Callahan’s suitability to lead them to success and withdrew from the deal.
Kevin O’Leary, partly for amusement, offered $ 200,000 for 50% of all revenues, expressing his genuine liking for the band despite his reservations about the music industry [6]. In response, Callahan countered with an offer of $ 300,000 for a 40% stake. Robert Herjavec then intervened and proposed a 50-50 partnership with O’Leary, making the deal more appealing. O’Leary humorously suggested renaming the band “Greed” if they reached an agreement.
Callahan eventually settled on a final offer of $ 250,000, and despite the collective interest of the Sharks, no one budged on their offers, and the deal ultimately fell through. Callahan remained resolute in his stance to retain control of the publishing rights, emphasizing his faith in the band’s potential. O’Leary playfully suggested renaming the band “You’re Dead to Me”.
Backstage, Callahan expressed his unwavering belief in the band’s future success and predicted that the Sharks would come to regret not investing in them when they were playing in sold-out arenas worldwide.
Cab20 After The Shark Tank
Regrettably, the rendezvous yielded no fruitful results. Cab20 ceased to exist around 2014, a mere two years after their noteworthy Shark Tank appearance. Their online presence went dormant, with their website going offline and their social media accounts left to wither. At that juncture, they had only unveiled three albums, with their final release dating back to 2013 [7]. No official proclamation regarding their dissolution ever materialized, leaving the circumstances shrouded in mystery.
Collaborators include Gabs Flores (on guitar), Mark Rains (serving as the mixer), Kaz Mirblouk (handling bass duties), and Jaiq Styne (contributing to the synergy). Their 2018 single, titled “Guillotine”, was adorned with a striking black and white cover.
That year also witnessed the release of a mini-album christened “Highland Park TV”, boasting a quintet of tracks: “Bird On a Wire”, “New Shoes”, “Electric Eyes”, “Reptile”, and “Destroya”.
Recorded live at Highland Park TV, this limited edition album of only 100 copies was exclusively available at Hooveriii’s live performances.
In 2019, a full-length eponymous album emerged from the creative cauldron. Recorded in Los Angeles, this musical compilation comprised nine tracks, including “Head-Squeeze”, “Turn Blue”, “Mercy”, “Inbetween,” “Mudd”, and more. True to form, Bert Hoover continued to lend his vocal prowess and guitar magic to the project.
Since then, Hooveriii has continued to release a plethora of tracks, such as “See”, “Control”, “Lazy Susan”, “The Pearl”, and “Cindy”. Those keen to explore their musical tapestry can conveniently find most of their work available for streaming on YouTube. Their music video for “See”, for instance, has garnered over 5,700 views since its initial upload on May 18, 2022 [8].
Bert Hoover has transitioned into a new musical phase under the moniker “Hooveriii,” promoting his work through his Facebook page. This evolution underscores a fundamental truth in the music industry – bands never truly vanish; they adapt and transform.
As of November 2021, Bert is still actively engaged in making music, with Hooveriii having already unleashed six albums. Their performances continue to grace nightclubs across the nation. Yet, as musicians often find themselves financially challenged, the financial aspect remains a constant struggle.
If you’re curious about Bert Hoover’s current pursuits, you can track his endeavors through social media. He maintains an Instagram account under the handle @berthooveriii, boasting a following of over 1.4K enthusiasts. Hooveriii’s official Facebook page is also worth a visit, not to mention their Bandcamp page for aural discoveries.
Furthermore, he actively participates in various convention panels throughout the United States, offering his insights and expertise. You can connect with him on Twitter via the handle @tacallan.
The Net Worth Of Cab20
Cab20 had unveiled 3 albums, yet their financial gains remained shrouded in mystery. When the formation of Hooveriii took place, they launched an impressive tally of 6 albums, but still, their financial returns remained hidden from view.
Despite garnering a modicum of recognition, their endeavors failed to meet their expectations. Embarking anew under the moniker Hooveriii, their financial coffers remained rather scant.
Alternatives To Cab20:
- The Black Keys: The Black Keys, consisting of Dan Auerbach and Patrick Carney, are known for their bluesy rock sound. They’ve achieved widespread acclaim for albums like “Brothers” and “El Camino”;
- The White Stripes: Led by the enigmatic Jack White, The White Stripes are celebrated for their raw and minimalistic garage rock. Their iconic album “Elephant” features hit songs like “Seven Nation Army”;
- Queens of the Stone Age: This American rock band, fronted by Josh Homme, offers a unique blend of stoner rock, alternative, and hard rock. Albums like “Songs for the Deaf” have solidified their status in the rock genre;
- Arctic Monkeys: Hailing from the UK, the Arctic Monkeys have a distinct indie rock sound. Their debut album, “Whatever People Say I Am, That’s What I’m Not,” was a massive hit;
- Cage the Elephant: With energetic performances and a mix of alternative and garage rock, Cage the Elephant has gained recognition through albums like “Melophobia” and “Thank You, Happy Birthday”;
- The Raconteurs: A supergroup formed by Jack White and Brendan Benson, The Raconteurs combine elements of rock, blues, and folk in their music. Their album “Consolers of the Lonely” is a standout;
- The Kills: Alison Mosshart and Jamie Hince make up this British-American indie rock duo, known for their captivating live shows and albums like “Midnight Boom”;
- The Dead Weather: Another project involving Jack White, The Dead Weather showcases a heavier and darker rock sound, featured in albums like “Horehound” and “Sea of Cowards”;
- Alabama Shakes: Fronted by the powerful Brittany Howard, Alabama Shakes offer a soulful and bluesy take on rock. Their debut album, “Boys & Girls,” earned them critical acclaim;
- Jack White (solo work): Jack White’s solo career has been marked by his inventive and diverse music style. His albums like “Blunderbuss” and “Lazaretto” showcase his versatility as a musician [10];
Each of these musical acts has contributed to the rock and alternative music landscape in their unique ways, and they continue to be influential in the industry.
FAQ:
- What happened to Cab20 after Shark Tank?
After their appearance on Shark Tank, Cab20 continued to make music. However, specific details about their progress are not readily available on the web. It’s unclear whether they reached the success they hoped for after their TV appearance.
- What band was on Shark Tank in 2012?
The band that appeared on Shark Tank in 2012 was Cab20. They were introduced by their manager, Tom Callahan [11].
- Who is the third richest “shark” on Shark Tank?
As of my last update, the third richest shark on Shark Tank is Mark Cuban, with an estimated net worth of $ 4.3 billion.
- Which “shark” was removed from Shark Tank?
No shark has been officially removed from Shark Tank. All changes in the lineup have been due to personal decisions or scheduling conflicts.
- What famous company was rejected in the Shark Tank?
The most notable company to be rejected on Shark Tank is probably Ring, formerly known as DoorBot. Despite being turned down by the sharks, the company went on to achieve great success and was acquired by Amazon for over $ 1 billion [12].
- Does Shark Tank still exist?
Yes, Shark Tank still exists. The show continues to air new episodes.
- Who owns Shark Tank?
Shark Tank is owned by Sony Pictures Television.
- What year was Cab 20 Band’s Shark Tank Pitch?
Cab 20 Band made their pitch on Shark Tank in the year 2012.
- Who founded Cab 20 Band?
Cab 20 Band was founded by Bert Hoover.
- Where was the Cab 20 Band based?
Cab 20 Band was based in Los Angeles.
- What does Cab 20 Band do in 2023?
As of 2023, it’s unclear what the Cab 20 Band is doing as there are no specific updates available on the web.
- How much money did Cab 20 Band ask for on Shark Tank?
Cab 20 Band asked for an investment of $ 200,000 for a 20% stake in their band on Shark Tank.
Useful Video: Shark Tank investors try to steal young band’s SOUL
References:
- https://bizzbucket.co/cab-20-after-shark-tank-update/
- https://gazettereview.com/cab20-update-what-happened-sharktank/
- https://www.sharktankblog.com/business/cab-20/
- https://2paragraphs.com/2018/12/cab-20-what-happened-to-rock-band-after-shark-tank/
- https://www.sharktanksuccess.com/cab-20-band/
- https://startupreneurship.com/what-happened-to-cab-20-band-after-the-shark-tank-pitch/
- https://sharktanktales.com/cab20-shark-tank-update/
- https://www.reddit.com/r/sharktank/comments/4e4gs3/4_years_later_the_rock_band_robert_and_kevin/
- https://www.dailybreeze.com/2012/05/10/cab-20-takes-off-2/
- https://diymusician.cdbaby.com/musician-tips/an-interview-with-tom-callahan-manager-of-cab-20-the-band-that-went-on-abcs-shark-tank/
- https://www.hypebot.com/hypebot/2012/05/cab-20-hits-up-shark-tank-for-band-funding.html
- https://kirktaylor.com/cab20-plays-shark-tank/