The category of Technology represents any company who has the primary business of creating new technology.
This subject has been somewhat controversial among the contributors of Sharks For Sharks given that many companies come into the tank claiming to be technology firms when, in fact, they are really something else. Two examples for consideration: Coffee Meets Bagel from season six and Unikey Technologies from season three.
Coffee Meets Bagel positioned themselves as a technology company offering dating services. In truth, they were a dating service company operating on the internet. Whereas Unikey is a company that makes a lock that is activated by a mobile app to digitally lock and unlock a door. It may not be high tech but it is technology.
To think of how we classify companies as tech, consider whether the business of the company could be accomplished via some other medium. Do they sell socks on the Internet like Grace & Lace? Is the Internet their primary business or are the socks? For this reason we classified them as apparel.