Shark Vacuum, also known as Shark Ninja, actually got its start about 100 years ago in Europe making sewing machines. The business expanded to Canada, where 3rd generation CEO Mark Rosenweig, decided to make an offshoot of the company and move it to Massachusetts. Rosenweig developed a unique type of vacuum cleaner, as well as a blender called The Ninja in 2003.
The company created a different type of easy to use, lightweight vacuum called The Shark. This vacuum quickly became so popular that within 5 years, it outsold the previous #1 selling vacuum made by Dyson.
It was rumored in 2017 that the company was up for sale and later that same year, CDH Funding, a private equity firm, invested $1 billion in the company for a significant equity interest.
In early 2018, the company introduced their robotic vacuum to compete with company’s such as Roomba. In the May 2018 edition of New York Magazine, the Shark Ion robotic vacuum was listed as the best such vacuum for picking up pet hair.
The corporate office for Shark is currently found in Needham, Massachusetts.