✓ Got a deal Out of business Season 7, Ep. 21 🐾 Pet Products

Innovation Pet on Shark Tank

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Innovation Pet makes a line of pet toys, houses, beds and accessories for dogs and cats. The products are aimed at pet owners looking for affordable, practical items to entertain, comfort and house their animals.

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⏱ Innovation Pet in 30 seconds

  1. The ask$250K for 5%Valued at $5M
  2. In the tankDeal: $250K for 12.5%With Kevin · plus royalty
  3. After the showNot confirmedNo public record either way
  4. TodayClosedThe company went bankrupt in 2020 and its assets were auctioned off.

Innovation Pet Shark Tank deal

Asked for
$250,000 for 5%
Asking valuation
$5M
Result
Deal
Final deal
$250,000 for 12.5%
Deal valuation
$2M
Structure
Royalty
Founders
-
From
-
Aired
Mar 11, 2016
Asked
$5M
Got
$2M

Would you have invested in Innovation Pet?

The pitch

The founders pitched Innovation Pet in Shark Tank Season 7, Episode 21 (aired Mar 11, 2016). They asked for $250,000 in exchange for 5% equity, valuing the business at $5M. The entrepreneurs walked away with a deal from Kevin O'Leary: $250,000 for 12.5%. That put the final valuation at $2M, 60% below what they originally asked for. The deal included a royalty.

What happened to Innovation Pet after Shark Tank?

Out of business

Innovation Pet appears to be out of business (The company went bankrupt in 2020 and its assets were auctioned off.).

Sources (1)
  1. sharktankblog.com/business/innovation-pet-inc/
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Frequently asked questions

Did Innovation Pet get a deal on Shark Tank?

Yes. Innovation Pet got a deal with Kevin O'Leary for $250,000 and 12.5% equity.

Which Shark invested in Innovation Pet?

Kevin O'Leary invested in Innovation Pet on Season 7 of Shark Tank. Note that some on-air deals change or fall through during due diligence.

Is Innovation Pet still in business?

Innovation Pet appears to be out of business (The company went bankrupt in 2020 and its assets were auctioned off.).

What season and episode was Innovation Pet on Shark Tank?

Innovation Pet appeared in Season 7, Episode 21, which first aired on March 11, 2016.

Where can I buy Innovation Pet?

Search for Innovation Pet on Amazon or major retailers; availability varies.

What was Innovation Pet's valuation on Shark Tank?

The founders valued Innovation Pet at $5,000,000 when they entered the Tank, and the final deal valued it at $2,000,000.

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