Amazon is launching its own Shark Tank where winners get to be Amazon sellers

Amazon Prime has released a trailer for its new show "Buy It Now", a spin on the Shark Tank concept hosted by JB Smoove. The show features contestants pitching their product ideas to a panel of investors and "The 100", an audience of potential customers. If the crowd votes for a product, the panelists decide which ones will be sold on Amazon's new Buy It Now Store, accessible via a QR code during episodes. One presenter per episode will receive a $20,000 prize. The show features a rotating panel of celebrity panelists, including Gwyneth Paltrow and Tony Hawk, as well as Amazon executives and Ring founder Jamie Siminoff as the resident judge. The panelists will also be selling their own products on the Buy It Now Store. The show premieres on October 30th on Amazon Prime, with 13 episodes running until January 8th, 2025. A weekly behind-the-scenes companion podcast, "This is Small Business: Behind the Buy", starts the next day. The show is seen as a way for Amazon to encourage more sales on its platform. Despite this, the products will have clear names and origins, making it a more transparent shopping experience.