'Shark Tank': Walker Paws goes without a deal, here's why fans feel Sharks missed out on a golden opportunity
For many entrepreneurs, ABC's award-winning show 'Shark Tank' is easily the ideal platform for not only showcasing their unique products or services, to the world but also for raising a tidy sum of investment from some of the best investors in the game aka sharks. So, it goes without saying that there is intense competition and pressure among the entrepreneurs to not only pique the interest of the sharks but also to reel them in to close a deal with them. Getting a shark onboard your business is an excellent move, as these sharks not only provide financial support but also give invaluable advice that can help the business grow exponentially.
The founder of 'Walkee Paws' Lisa Baronoff entered the tank with the intention of dazzling the sharks with her unique and one-of-a-kind invention- leggings for dogs. Lisa explained the hassles of taking a dog out for a walk when there are plenty of germs and dust all around us. Unfortunately, the traditional booties that are available in the market aren't the perfect solution either, as they are not only uncomfortable but also slip off the dogs' paws while on a walk. So, she designed Walkee Paws, adjustable leggings that are easy to put on and also comfortable as they are strapped on the dog's back, giving them freedom of movement.
Lisa came in seeking $150k for 5% stake. While all the sharks enjoyed her pitch and agreed how her product was the perfect solution for keeping the paws clean, they unfortunately weren't keen on investing in the business. They all felt that it was way too niche a product and were unsure about the product, except for Kevin O'Leary. Kevin gave Lisa two offers, saying she could choose any of them. His first offer was: $150k for a 5% stake and a royalty of $2.70 until $150k is paid off, then the royalty drops to 50 cents in perpetuity. His second offer was: $150k for 20% stake.
Lisa wasn't impressed with either of the offers and chose to walk away without any deal. Lisa later explained that she wasn't willing to part with more than 5% stake and wasn't keen on doing any royalty deals. While Lisa walked away empty-handed, fans felt that the sharks might have missed out on investing in a great business. A fan commented, "I’m a germaphobe and that is the main reason I haven’t gotten a #dog. Don’t want everything it’s walked in inside my house. We take our shoes off and have guests do the same. But after seeing #WalkeePaw I can reconsider. #sharktank."
"Idk, think Sharks missed the boat on this one! Idk about your neighborhoods, in my neighborhood, there are more people walking their dogs than ever b4. I specifically have been looking for something to keep my paws clean on walks that won't fall down. This product is great!" tweeted a fan. "Umm in a nation were we spend as much on our #dogs as our children and me in a winter state I'm on board with @walkeepaws #SharkTank," pointed out a fan.
I’m a germaphobe and that is the main reason I haven’t gotten a #dog. Don’t want everything it’s walked in inside my house. We take our shoes off and have guests do the same. But after seeing #WalkeePaw I can reconsider. 👍🏾#sharktank— ABillionOffBeer (@KraftAholik) February 27, 2021
Idk, think Sharks missed the boat on this one! Idk about your neighborhoods, in my neighborhood, there are more people walking their dogs than ever b4. I specifically have been looking for something to keep my 🐕 paws clean on walks that won't fall down. This product is great!— Barbara NY (@bcarr78192) February 27, 2021
'Shark Tank' Season 12 airs every Friday at 8/7c only on ABC.