Whatever Happened To Eterneva Diamonds After Shark Tank?
It's one of the more memorable business ideas to have passed through "Shark Tank." As explained by its owners, Eterneva Diamonds allows departed loved ones to live on in custom-made diamonds from their cremated ashes or hair. Adelle Archer and Garrett Ozar appeared on Season 11, Episode 3 of the show, and while their pitch seemed to appeal to the sharks, there was an issue with the company's present financing. Some of the sharks, particularly Mark Cuban and Daymond John, seemed to think that with so many financial resources already at the company's disposal, Archer and Ozar were simply trying to drum up some free advertising for their product rather than seeking additional investment. It almost became a "Shark Tank" moment that pushed the sharks too far, although one of the sharks did end up making a deal with the business owners.
Perhaps the sharks were just trying to buy themselves a little extra negotiation leverage. In any case, the Eterneva entrepreneurs ended up making a deal with Cuban for a $600,000 buy-in in exchange for 9% equity — and yes, a little bit of free advertising. That was in 2019, and Eterneva Diamonds seems to be still going strong today.
The company ran into some controversy shortly after its appearance on the show
Eterneva Diamonds is still an active business, and the company claims it can incorporate the mortal remains of your loved ones into synthetic lab-grown diamonds. But in 2019, shortly after Eterneva's "Shark Tank" episode aired, Page Six reported that such businesses might be a scam, quoting diamond expert and gemologist Grant Mobley.
"While these companies may be manufacturing synthetic diamonds that look similar to natural diamonds, they are not using ashes from your loved ones to do so. In fact, the carbon that is left over from cremation is not near enough to produce a synthetic diamond and not in the correct form," Mobley said.
Mark Cuban responded, telling Page Six that "the technology is backed by rock-solid science," with no word on whether the pun was intended. The shark cited studies showing "on average [there's] 1 to 4 percent carbon content [in the ashes], which is more than enough to grow a diamond" and reiterated his enthusiasm for the product.
That was back in 2019, so Eterneva has had plenty of time to outlast the controversy over its technical process, and the business still seems to be healthy. At the official Eterneva site, you can even get a diamond made from your cremated pets.