Entrepreneurs Daniel Lentz and Tom Zipprian, pitched their dog grooming accessory during
If you’re short on time, here’s a quick overview of what happened to Aquapaw after
Daniel Lentz and Tom Zipprian appeared on
|$200,000 for 30% equity
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
Founders of Aquapaw, Daniel Lentz, and Tom Zipprian, came up with a way to make bathing dogs easier, and less stressful on both the owner and the dog. Their bathing tool attaches to hoses or showers, and causes the water to spray gently out of a silicone sponge.
This means the dog is less stressed while you apply water, and you can also clean and spray at the same time. It has a strap for your hand to slip through, giving you good control over the tool.
Another nice feature is that you can turn the sprayer on and off with one hand. This is especially helpful while your other hand is holding the dog in place.
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.
Further, they sell them on Amazon for $12.50, and overall, the units cost $5.25 to manufacture. However, they believe that over time, they’ll be able to get that number down to $4.50.
For the last nine months, Aquapaw’s revenue has come from a Kickstarter campaign that exceeded a goal of $42,000. Additionally, they’ve done about $200,000 in sales.
They’ve also been in talks with both Petco, and Petsmart, but the retailers weren’t ready to take on the products just yet.
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.
They say they want to create a whole ecosystem of products. They will eventually have the sprayer dispense soap, and they plan to also create other bath time accessories.
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, in addition to the Aquapaw website.
While the duo 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.
Further, in addition to the original sprayer, they now have one for bathing horses. They also sell feeding mats, and licking pads for dogs.
If we learn anything new about Aquapaw, we will certainly let you know! In the meantime, you can checkout our other company updates from Season 10 Episode 10, by following the links below!
For even more on companies and products, be sure to stop by our Season 10 products page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!