Shark Tank Aquapaw Update
- Entrepreneurs: Daniel Lentz and Tom Zipprian
- Business: Pet Bathing Accessory
- Ask: $200,000 for 7.5% equity
- Result: No deal
- Sharks: None
Daniel and Tom quickly revealed that the retail cost of a single unit is $24.99. Most of the company’s sales have been through its own website, but some of the sales have come from a retailer known as Uncommon Goods. They also mentioned that a single unit costs $5.25 to manufacture.
For the last nine months, Aquapaw’s revenue has come from a Kickstarter campaign that exceeded a goal of $40,000. The sharks weren’t as frustrated with the initial financial numbers of the company as much as they were confused with the imputed valuation of $3 million.
Robert Herjavec was willing to make an offer at a much lower valuation. He made an offer of $200,000 for 30% equity. Lori Greiner and Mark Cuban quickly made their decision to drop out of negotiations.
Guest shark Bethenny Frankel and Daymond John also made identical offers of $200,000 for 30% equity. After hearing from all the sharks, Aquapaw has successfully earned three offers, and now it was time for Daniel and Tom to make a decision on which offer to accept.
After struggling to negotiate, Daniel and Tom turned around and walked out of the tank rejecting Daymond’s offer after the remaining sharks got impatient and dropped out. Aquapaw would not receive a deal but let’s see how the company is doing after
In our Aquapaw update, we can tell you that the company is still in operation and is estimated to generate just under $5 million in revenue per year. Their products can be found in Petco and on Amazon’s marketplace.
While they respectively rejected Daymond’s final offer, they seem to be doing quite alright without a deal after all. From a business perspective, many people might agree that Daniel and Tom made the right decision.
You can find the other company updates from Season 10 here:
Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from