He’s the founder of 10 consumer brands including The Oodie and has a net worth of $500 million, and now Davie Fogarty is entering the world of reality TV.
The Adelaide-born entrepreneur and e-commerce whizkid is one of the five new Sharks set to appear on the upcoming season of Shark Tank Australia, which he calls “a dream come true”.
“I'm extremely passionate about Australian entrepreneurship,” he shares. “Looking at the way that e-commerce has evolved in the United States and seeing where it currently is in Australia, I think something needs to change.
“I think we have an incredible economy that is really understated in terms of how viable it is to create a business, especially me living in Adelaide compared to some of the more expensive places in the world. It's just a really great place to learn and start businesses.”
At 28 years old, Davie is the youngest Shark in the group alongside AI expert Dr Catriona Wallace, Showpo CEO Jane Lu, King Kong Digital Marketing Agency founder Sabri Suby, and OG Shark Tank US star Robert Herjavec.
“There's extreme competitiveness, there’s no doubt about that,” Davie says about the dynamic between the Sharks. “If we both want a deal, we’re willing to fight over it.
“But aside from that, I have a tremendous amount of respect for every single one of those Sharks in their own field. Offstage, we were talking and they taught me so much, and everyone is so open and willing to share resources and do what's best both for the show and the entrepreneurs.”
Having grown up watching Shark Tank, Davie shares that his experience filming the series almost entirely matched his expectations.
“We were at dinner with Robert Herjavec one night and he said the most common feedback that you'll get when you meet people after doing the show is, ‘Wow you’re exactly like you are on the show’,” he recalls.
“And I think that that is a testament to the realism that Shark Tank actually provides. It’s our money, it's unscripted, and whatever happens happens.
“It was probably more intense than I thought it was gonna be, I thought it would be a bit more lighthearted, but I suppose with so much money on the line, it does make sense that it was intense.”
He adds that he felt “a lot of energy” filming the show, but he never wanted to let his nerves get in the way of helping others.
“I'm always dealing with impostor syndrome in that I always have to pinch myself,” he admits. “I surround myself with really amazing people and I think that's the same with most entrepreneurs, especially when they are quite new, that you always feel a little bit inferior, and that's just not a constructive mindset to have.
“So that's something I've always been working on. And that crept in every now and then, but at the same time, the amount of value that I can bring to these e-commerce entrepreneurs considering I've just walked that path, and walked it quite well, is huge.”
Shark Tank Australia premieres Tuesday, 29 August at 7:30pm on 10 and 10 Play.
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