Nikki Lynn and Rusty Niedwick came onto
Shark Tank Kitty Kasas Update
- Entrepreneurs: Nikki Linn and Rusty Niedwick
- Business: Pet Accessories
- Ask: $200,000 for 20% equity
- Result: $200,000 for 30% equity
- Sharks: Lori Greiner
In the almost two years of the company’s existence, Kitty Kasas generated almost $600,000 in sales. Mark Cuban was interested in knowing more about the financial numbers, so he kept asking similar questions. Rusty ultimately told Mark that the company generated $200,000 in the most recent quarter and financial projections showed that continuing to trend upward in the future.
While the duo admitted that it costs between $10 to $11 to produce a single unit, depending on the design, they believe that they can sell them for as much as $49. Smaller, modular units can be sold for cheaper prices and may be able to be produced for as little as $5.
The first shark to drop out was Sara Blakely, but Kevin O’Leary was interested in making a financial offer to Nikki and Rusty. He said that he wanted to be a third partner and would give them $200,000 in cash for 33.3% equity of the company.
While Lori Greiner thought about the offer she was about to make, Barbara Corcoran and Mark decided to drop out because they didn’t like cats or the industry of cat products. After debating to herself, Lori decided to make the exact same offer as Kevin. Nikki and Rusty ultimately counteroffered Lori’s offer with 30% equity and she accepted.
Now let’s focus on the Kitty Kasas update to see whether the company is still around. While it’s unclear if the final deal ever concluded with Lori Greiner, we can tell you that Kitty Kasas was purchased by an Ohio company in Summer of 2019, but is still around.
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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!