Petrol was featured on
Shark Tank 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
You can find the other company updates from Season 9 Episode 21 here:
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