Animated Lure Update | Season 12
Sobhan Sanaee and Kanz Kayfan created a robotic, fishing lure. Their lures not only look like real fish but mimic their movements and patterns. Will they also lure in a deal on
If you’re short on time, here’s a quick overview of what happened to Animated Lure after
Animated Lure appeared on
| Shark: | Result: |
| Kevin O’Leary | Accepted deal of $325,000 for 10% and a $3 royalty until $1 million is paid back |
| Robert Herjavec | No Offer |
| Mark Cuban | No Offer |
| Daymond John | No Offer |
| Lori Greiner | No Offer |
Shark Tank Animated Lure Update
- Entrepreneurs: Sobhan Sanaee and Kanz Kayfan
- Business: Rechargeable robotic fishing lure
- Ask: $325,000 for 10% equity
- Result: $325,000 for 10% and a $3 royalty until $1 million is paid back
- Shark: Kevin O’Leary
Sobhan and Kanz brought their Animated lure to
Animated Lure SaltWater is made of ABS and anti-corrosion stainless steel. The fish has a 3-section body held together with metal hinges. The hinges have a max strength of 100lbs/ 45kg and shouldn’t swim more than 28m/82feet deep.
The entrepreneurs impressed the sharks with their large profit margins per unit. They shared that each lure retailed for $29.95-$79.95, and only cost them $8-16 to make.
Further, Animated Lure has taken on no debt and was started with a personal investment from the two founders of $125,000. From January 2020 to its recording date later that year, Animated Lure had done $247,000 in sales and was projected to triple that by the end of 2021.
Despite the impressive numbers, most of the sharks dropped out. Mark Cuban was the first to drop out, stating that he was not a fisherman, so he didn’t have much interest in investing.
Lori Greiner said she’s not a fisherman either, so she too was out. Robert Herjavec loved the product but felt they had a long way to go, so he was also out.
Daymond John is a fisherman, but shared concerns about getting his investment back, so he too went out. That left just one shark, and Kevin O’Leary was hooked.
Kevin offered to invest in Animated Lure at $325,000 for 10% equity. His deal would also include a $3 royalty until he recouped $1 million in return.
While Sobhan and Kanz tried to negotiate, Kevin wouldn’t budge. He even threatened to go out, so they eventually accepted his deal.
Did the guys find success after
Research for our Animated Lure update reveals good news! Despite the deal with Kevin falling through, the company is still in business, with a net worth estimated to be just over $3 million.
The Animated Lure website lists several different collections of fishing lures, featuring many different kinds of fish to choose from. Mullet, Sardine, Yellowtail Snapper, and Atlantic Herring are just some of the lures that are available.
Perhaps you’ll want to bring one along on your next fishing trip, or gift one to your favorite fisherman! Products can be purchased on the Animated Lure website, as well as on Amazon.
For updates on other products that appeared on Season 12 Episode 3, check out the links below:
For even more on companies and products, be sure to stop by our Season 12 products page!
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