Here's What Went Down With Esso Watches After Shark Tank

In 2012, Ryan Naylor tried his luck on "Shark Tank" with his negative ion watch brand, Esso. The entrepreneur developed Esso watches following a trip to Italy where he saw multiple people wearing a similar design. His watches were developed to counteract interference on the body from positive ions released by electrical products. Esso's ad even asserted the item could aid the likes of balance, fatigue, and coordination (though there's little scientific evidence to confirm negative ion jewelry has any affect on the body). Naylor sourced the silicone products from a Chinese manufacturer with fashion in mind, as the watches utilized bright colors and funky designs. But, in reality, the supposedly modern watch wasn't something we could've foreseen Kylie Jenner rocking in a trendy way.

However, Naylor revealed on "Shark Tank" he made an impressive $120,000, including $70,000 in profit, in a single year selling his watches — all from an initial $10,000 investment. "We sold a thousand watches, I think within a week," he said on "The What Would U Ask Podcast" in 2021. "It was mind-blowing. It stressed us out because now we had to figure out how to ship them all." So, to keep up with demand and properly scale the business, Naylor knew he needed the help of ABC's superstar entrepreneurs. Instead of letting time slip through his fingers, he pitched the business to the Sharks. But things really didn't go well.

On "Shark Tank" Season 3, Ryan Naylor wanted to swap 20% equity for a $35,000 investment. But, right from the start, the Sharks were noticeably irked by his product and pitch. Naylor had Lori Greiner test a watch to demonstrate how it gave her better balance and she appeared to agree that it did. But Mark Cuban was completely closed off and mocked Naylor, much like he did Yunha Kim when she pitched Simple Habit on "Shark Tank." He refused to accept the blue watch Naylor offered him. "I'm allergic to scams," he said. "This is not new, it's been disproven," he added. Ouch.

Though most of the other Sharks seemed more receptive at first, Naylor's pitch totally fell apart when he told Greiner that Esso didn't have any independent laboratory testing to back his health claims. Because of that, and after Cuban scoffed at the idea of scientific backing, Greiner dropped out and called the controversial business "a liability nightmare." Things went from bad to worse when Daymond John accused the entrepreneur of lying after he claimed he designed two of his products, and declared himself out. Robert Herjavec said he didn't believe in the product so wouldn't invest either, though Kevin O'Leary had an interesting proposition. "If you admit it's a scam, I might invest," he proposed. But Naylor held his nerve and O'Leary became the last Shark out, so Esso met the same fate as fellow "Shark Tank" novelty Swoveralls and Naylor left the set without an investment.

Ryan Naylor told Geek Wire in 2015 he was convinced the "Shark Tank" entrepreneurs weren't going to invest in Esso watches even before he entered the studio. "I realized that these Sharks had no intention to do a deal with me. They obviously knew the story before I walked in and had prepped for what I was going to do and say. They had the perfect rebuttals," he said. Naylor's negative experience pushed him to re-evaluate his career. "I didn't even care to defend myself. I didn't even care to defend the technology," he said of his pitch, admitting his lack of passion was obvious when he watched the show back. "I decided to come back from that experience to find something I was really passionate about." That process started immediately after his interaction with the Sharks. As soon as he returned to his hotel room post-filming, Naylor started working out his next move. "I just started writing. 'What do I believe in, what is my motivators?' And I listed it all out. And honestly, that's where I found myself," he said on "Entrepreneurs on Fire" in 2021.

But his transition to pastures new wasn't smooth. Speaking on "The What Would U Ask Podcast", the entrepreneur revealed four lawsuits were filed against the company after he appeared on the show. "People were claiming that they had medical issues because of my product," he said. However, due to a lack of stock, the watches hadn't even been shipped, which meant three of the claims were quickly disproven. But the fourth lawsuit, involving Exxon Mobil, was much more serious.

ExxonMobil filed a lawsuit against Esso in 2012, claiming it owned the Esso name. "I had built my product based on the phrase esso, which is an Italian phrase. It's like, 'Hey that's what's up, that's cool!' That was kind of the idea behind it," Ryan Naylor explained on "The What Would U Ask Podcast." But the lawsuit turned into the end of the business. "We put the cash that we had made into legal to defend ourselves to prove that we were not violating their copyright ... but ultimately we came to a settlement that we said, 'Let's just walk away from it,'" he said.

Esso shared its final post on X, formerly known as Twitter, in January 2013 to promote Naylor's other watch business, Tagi. Naylor co-founded that company in 2009, but it seemingly went out of business in 2017 when it posted its final Instagram photo. Prior to the store closing, social media users seemed sceptical about the credentials of Esso's sister company. "Well would you look at that! An Instagram account based around seven months worth of posts of the exact same watch," one person commented on the last upload. Though Esso and Tagi both still have posts on social media at the time of writing, neither website is live and the watches are no longer available for purchase.

Ryan Naylor left Esso and Tagi watches in his past, but he didn't turn his back on his entrepreneurial spirit. He founded LocalWork in 2012, an online platform that aims to connect people with their dream jobs. "I was able to come up with a business model that supported my core value, which is supporting families," he told "Entrepreneurs on Fire" of the passion project, which has helped over 100,000 people find work. But being the CEO of that business hasn't been Naylor's only career focus. He also founded and became the CEO of the small business recruitment software VIVAHR in 2018 and has served as a contributing author to Entrepreneurial Media since 2023.

But don't think Naylor's tough time with the Sharks means he wouldn't swim back into the tank to seek investment for one of his other businesses. The entrepreneur told GeekWire he'd happily pitch on the show again and join the ranks of Copa Di Vino, who appeared on "Shark Tank" twice. "I would take what I learned and not just talk about numbers and opportunities. I would make sure my product and messaging is completely aligned with my passion and goals," he said.