Treasure Chest Pets Update

Treasure Chest Pets Update | Shark Tank Season 1

ByAndrew Smith

Lisa Lloyd created a unique line of stuffed animals with secret compartments called Treasure Chest Pets. These playful toys have been popular, but Lisa is facing serious financial difficulties. She owes a lot of money and is at risk of losing her home. To save her business and expand it nationwide, she needs an investment and marketing support. Will a shark come to her rescue? Find out in our Treasure Chest Pets update and pitch recap.

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

Lisa entered Shark Tank Season 1 to pitch Treasure Chest Pets, seeking $150,000 for 20% equity. After her pitch to the sharks, she secured a deal with Barbara Corcoran and Daymond John for $150,000 for 60% equity.

In terms of a Treasure Chest Pets update, the company is no longer in business, and Lisa has since shifted her focus to a new career pursuit.

SharkResult
Barbara Corcoran and Daymond JohnAccepted offer of $150,000 for 60% equity
Kevin O’LearyNo offer
Kevin HarringtonNo offer
Robert HerjavecNo offer

Shark Tank Treasure Chest Pets Pitch

Shark Tank Treasure Chest Pets
  • Entrepreneur: Lisa Lloyd
  • Business: Plush toys with hidden compartments
  • Ask: $150,000 for 20% equity
  • Result: $150,000 for 60%
  • Sharks: Barbara Corcoran and Daymond John

Lisa stepped into Shark Tank with her unique product, Treasure Chest Pets, seeking an investment to improve her cash flow, fulfil existing orders, and expand into national retail stores.

Treasure Chest Pets is a line of plush toys that combine comfort with imaginative play.

Each toy features a hidden pouch where kids can store their treasured belongings, encouraging creativity and storytelling.

It’s made from high-quality materials, making them durable and safe for children aged 5 to 9.

In a competitive toy market, the hidden compartment feature sets Treasure Chest Pets apart, making them a popular choice for parents looking for unique and engaging toys.

The sharks quickly honed in on the details, asking about price points and production costs.

Lisa explained that the toys retail for $19.95 and cost $4.75 to produce, with sales of around $100,000 through boutiques and direct orders. 

However, she needed capital to approach major retailers.

Kevin O’Leary was quick to voice his concerns about the complexities of toy distribution, leading him to exit the negotiations.

Similarly, Kevin Harrington felt the toys were seasonal and had a limited market, so he also dropped out.

With two sharks out, Robert Herjavec asked Lisa how she would use the capital. She explained that she would use it to fulfil her existing orders.

Barbara Corcoran then offered $50,000 for 50% of the company, but Lisa still needed a second shark to meet her funding goal.

Daymond John stepped in, teaming up with Barbara, and made an offer of $100,000 for 60% equity, including his distribution channels and expertise.

Seeing this, Robert Herjavec felt the sharks were being too harsh, so he offered Lisa a loan for the full $150,000 as a line of credit against the orders without taking any equity in her business.

After much consideration, Lisa accepted Daymond and Barbara’s offer.

Keep reading our Treasure Chest Pets update to find out how things panned out for Lisa and her company.

Shark Tank Treasure Chest Pets Update

The deal with Barbara Corcoran was never finalized. However, Daymond John stepped in and leveraged some of his equity.

Our Treasure Chest Pets update found that the company went out of business in 2011 due to intense competition and an influx of knock-offs.

Lisa has since shifted her focus. She now writes and speaks about her experiences in entrepreneurship and sharing insights on invention and business.

Unfortunately, this is going to be our final Treasure Chest Pets update.

Would you like to learn about the other companies featured in Season 1, Episode 8? Follow the links below for our other company updates from the episode. 

Before you go, check out our Shark Tank Season 1 page for more updates

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Andrew is a lifelong fan of Shark Tank and an entrepreneur at heart. He started Shark Tank Recap because he wanted a single place to track what happens to the companies, founders, and deals after they air on TV. With a sharp eye for business insights and a passion for all things Shark Tank, Andrew makes sure every recap is accurate, engaging, and fun.