Petrol Update | Shark Tank Season 9

Petrol was featured on Shark Tank during Season 9 Episode 21. Julie Yenichek and Ryan Huyghe came to the shark tank seeking $150,000 for a 20% stake in their beverage brand for dogs, Petrol. The duo implied that their company was with $750,000 dollars, so let’s see what happened on Shark Tank during the negotiations before we cover the Petrol update.

Shark Tank Petrol Update

Petrol Update

  • Entrepreneurs: Ryan Huyghe and Julie Yenichek
  • Business: Beverage for Dogs
  • Ask: $150,000 for 20% equity
  • Result: No deal
  • Sharks: None

The filtered water for dogs is designed with important nutritional vitamins that can benefit a dog’s immune system. Customers can purchase a pack of four on Amazon’s marketplace for about $17 per package.

Ryan and Julie could not easily defend their lack of sales, which equated to less than $20,000 in gross revenue during the 2016 calendar year. Barbara Corcoran and guest shark, Rohan Oza, decided to drop out fairly quickly. The other sharks continued to debate the valuation and sales numbers, however, margins weren’t great and the company’s sales numbers were dismal, which would make it challenging to convince the sharks to invest in the company.

Sadly, all of the remaining sharks could not convince themselves to invest in Petrol because they didn’t believe there was enough demand for this type of pet product. As evidence for their opinions, they cited the company’s lack of sales and the fact that the company had not operated consistently since it launched.

Our Petrol update may be a little bit disappointing to some people because the company ultimately decided to shut down in the first month of the 2019 calendar year. Petrol ran out of money and didn’t have many options remaining after failing to secure a deal on Shark Tank. Since the company did not receive a deal on Shark Tank, that outcome eventually led down a pathway toward shutting down the business.

You can find the other company updates from Season 9 Episode 21 here:

Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from Shark Tank Season 9.