SiliDog Silent Pet Tag Update | Shark Tank Season 8

Mikey Lickstein noticed that traditional metal dog tags were noisy and uncomfortable for pets, so he came up with a better solution: SiliDog. These durable, noise-free silicone tags gently rest on pets and resist fading over time. Inspired by his experience with his rescue dog Bentley, Mikey sought investment from the sharks. He hoped to use the funds to scale production and expand SiliDog’s reach. Will his idea get him a deal with the sharks? Find out in our SiliDog update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to SiliDog after Shark Tank.

Mikey appeared on Shark Tank Season 8 to pitch SiliDog, seeking $100,000 for 15% equity. After his pitch, Mikey agreed to a deal of $100,000 for 30% equity + $0.50 royalty per unit with Lori Greiner.

In terms of a SiliDog update, the company successfully overcame early challenges despite the fact that the deal with Lori Greiner never materialized. They expanded their product line and have grown to $8.4 million in annual revenue.

Shark	Result
Lori Greiner	Accepted offer of $100,000 for 30% + $0.50 royalty per unit
Barbara Corcoran	$100,000 for 30% equity plus a $1 per unit royalty
Robert Herjavec	$100,000 for 50% equity plus a 25 cents royalty
Kevin O’Leary	$100,000 for 30% equity plus a 75 cents per unit royalty
Mark Cuban	No offer

Shark Tank SiliDog Pitch

• Entrepreneur: Mikey Lickstein
• Business: Customizable 100% silicone silent pet identification tags
• Ask: $100,000 for 15% equity
• Result: $100,000 for 30% + $0.50 royalty per unit
• Shark: Lori Greiner

Mikey introduced SiliDog to the sharks, showcasing his unique silicone dog tag that is both durable and waterproof.

It’s also soundproof and glow-in-the-dark, adding extra convenience for pet owners.

He shared his vision for scaling production and expanding the product’s reach, aiming to make SiliDog the go-to choice for pet owners who want customizable tags that last.

SiliDog is designed with pet owners in mind and is completely soundproof. 

They solve the noise problem of traditional metal tags, which is a big win for anyone tired of constant clinking.

The tags also glow in the dark, making them easy to spot when the sun goes down. And because they’re made from silicone, they’re waterproof and built to last.

Plus, owners can customize them to match their pet’s personality.

As Mikey handed out samples to the sharks, he broke down the numbers: each tag costs $2.99 to produce and sells for $19.99.

He’s already in 90 mom-and-pop pet shops and has racked up $142,000 in sales, with an eye on hitting $200,000 the following year.

Mikey started the company with just $5,000 and still makes the tags in his garage, but he knows it’s time to scale.

That’s why he’s asking for $100,000 to ramp up manufacturing and explore licensing and custom logos.

Kevin O’Leary liked Mikey but didn’t see himself doing that kind of business. He exits the negotiations.

Mark Cuban wasn’t interested in the pet sector, and Barbara Corcoran felt there weren’t enough opportunities for an investor, so they both passed.

Robert Herjavec, however, saw potential and offered $100,000 for 50% equity.

Lori Greiner then offered $100,000 for 51% equity, giving her a controlling stake.

Mikey countered Lori’s offer at 25%, but she declined.

Just when it seemed over, Barbara came back with an offer of $100,000 for 30% equity plus a $2 per unit royalty until she recouped her investment.

Kevin, too, came back in and matched Barbara’s offer but with a $1 royalty.

Barbara then matched Kevin’s $1 royalty, and Kevin dropped his to $0.75.

Lori responded by offering the same deal with a $0.50 royalty, and Robert undercut them all with a $0.25 royalty offer.

In the end, Mikey decided to go with Lori’s deal. Let’s get a SiliDog update to see where the company is today.

Shark Tank SiliDog Update

Our SiliDog update found that the deal with Lori Greiner never closed. However, SiliDog has continued to thrive.

By May 2021, the company had overcome numerous challenges and generated approximately $900,000 in annual revenue.

Things really picked up in 2022 when SiliDog was featured on Good Morning America in January, giving the brand a huge boost.

At the time of writing, SiliDog has expanded its product lineup to over 100 different styles and colors of pet tags, including a new line for cats called SiliCat.

Our SiliDog update found that the company has grown to 53 employees and is bringing in over $8 million in annual revenue.

The company has also stepped up its charitable efforts, donating to more than 50 pet-related charities.

We can call this SiliDog update a success.

In the meantime, be sure to check out some of our other Season 8 Episode 5 company updates:

• SandiLake Clothing Update
• Parker’s Real Maple Syrup Update
• Safe Grabs Microwave Mat Update

Before you go, check out our Shark Tank Season 8 page for more updates.