After 15 successful seasons on the hit television show “Shark Tank,” multi-millionaire investor Kevin O’Leary has earned the nickname Mr. Wonderful. Now, he is leveraging his reputation to launch a new venture that is sure to make waves in the advertising industry.
Entrepreneur had the exclusive opportunity to sit down with O’Leary, 70, to discuss his latest project, WonderAds. Created in partnership with Philip Inghelbrecht, the founder of Shazam and CEO of Tatari, WonderAds is a television advertising agency aimed at providing small businesses with access to large-scale television advertising. This innovative platform allows businesses to run and purchase ad campaigns that they can track and optimize through their own dashboard.
O’Leary explains, “Most private companies with less than 500 employees have never known how to use television advertising. They go to a cable outlet and buy TV ads at inflated prices because they lack the necessary expertise. WonderAds solves all of that.”
The television advertising industry was valued at $235.9 billion in 2023 and is projected to exceed $337 billion by the end of 2024. O’Leary saw firsthand the complexities of purchasing and utilizing television ads within his own businesses, which inspired the creation of WonderAds.
Inghelbrecht emphasizes, “We modernize the way TV advertising is done using technology. We provide brands with the tools to measure ad effectiveness and simplify the ad buying process. WonderAds aims to make TV advertising more accessible and transparent for businesses of all sizes.”
Described as the “AI of television advertising,” WonderAds offers businesses the flexibility to purchase smaller ad packages tailored to their specific needs and budgets. This approach eliminates the need for businesses to navigate through large networks and agencies that may lead them into costly ad campaigns.
With inflation impacting the cost of media and consumer spending habits, O’Leary believes now is the ideal time for businesses to be strategic with their marketing and advertising budgets. He underscores the importance of being precise and targeted in reaching potential customers.
O’Leary’s impressive portfolio includes over 85 businesses, with an estimated $8.5 million invested in approximately 40 “Shark Tank” ventures. He stresses the importance of promoting products and services that he personally uses and believes in.
With an estimated net worth of $400 million, O’Leary’s success and expertise in the business world speak volumes about the potential impact of WonderAds on the advertising industry.