Entrepreneur Steve Gadlin pitched his custom art business during
If you’re short on time, here’s a quick overview of what happened to I Want to Draw a Cat for You after
Steve Gadlin appeared on
|Mark Cuban||Accepted deal for $25,000 for 33% equity|
|Kevin O’Leary||No offer|
|Robert Herjavec||No offer|
|Barbara Corcoran||No offer|
|Daymond John||No offer|
Shark Tank I Want to Draw a Cat for You Update
- Entrepreneur: Steve Gadlin
- Business: Custom cat drawing online service
- Ask: $10,000 for 25% equity
- Result: $25,000 for 33% equity
- Shark: Mark Cuban
Founder of I Want To Draw a Cat for You, Steve Gadlin, walked into the tank, and did a personalized song and dance presentation. Right off the bat, he had the sharks roaring with laughter.
Basically, his service is this; you describe a cat for Steve, and he will draw it for $9.95. Afterward, he then posts all of the drawings up on his website for his followers to enjoy.
He also says people ask him to draw cats who have died, or to tell a short story. Further, sometimes customers make up extremely wild stories involving cats, just to see what Steve ultimately comes up with.
Additionally, it only takes him about 2 minutes to draw an image, of course, this is after taking a couple moments to ponder what he will draw. This means, that he can draw about 25 cat pictures in an hour, altogether, this totals about 1,000 a week.
Steve told the sharks his plans for how to expand the business, based on his experience as a web developer. He’d like to eventually branch out to greeting cards, and also hopes to hire a team before long.
Robert Herjavec asked about sales, and Steve said he’d sold over 1,200 cat drawings in about a year.
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Kevin O’Leary wanted to know what the investment money would go on. Steve went into detail about wanting to build his commerce platform, following an investment, and then moving on to expand into greeting cards.
Robert said he enjoyed the presentation, although he wanted to know how the company would grow in profit. Steve talked about his creative insight, and how a partnership with him could really benefit the sharks.
However, Mark Cuban understood that there would need to be an investment in PR. Steve talked about his experience partnering up with Groupon.
Kevin said the concept was interesting but it involved far too small a profit to attract him. He ultimately went out.
Unfortunately, Robert also went out, because he actually found the to-date profit off-putting.
Mark claimed the other sharks didn’t get it, and offered $25,000 for 33% equity. Steve was amazed by the offer, and frankly, so were the other sharks.
Steve immediately accepted, although, he asked Mark to agree to contribute one cat drawing at specific intervals. Mark immediately accepted, and they shook hands.
Do you think the company took off following
Our I Want to Draw a Cat for You update reveals that the company finally enjoyed great success after appearing on
After a while, he took a break from cat drawings to focus on his TV show, but has since returned to the original business. You can check out the drawings and purchase your own on the I Want to Draw a Cat for You website.
Evidently, his service is so popular, that he is actually booked out a year in advance. He now charges $25 per drawing.
If we learn anything new about the company, we will certainly let you know. In the meantime, check out our other company updates from Season 3 Episode 2 here:
For even more on companies and products, be sure to stop by our Season 3 Products Page before you go!
Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!