‘Shark Tank’ judges stunned as contestant dressed as Snow White pitches bizarre Bluetooth speakers for pets
Robert Herjavec is a calculative businessman who is often seen making jaw-dropping deals on 'Shark Tank.' Herjavec is also one Shark who does not shy away from taking a bet on unique businesses. In one such instance, the business mogul was seen investing roughly $500k in a pet speaker. However, it was the founder who had to compromise big time, as he lost way more equity.
Michelle Winowich pitched G.O.A.T. Pet Products on Shark Tank, seeking $499,000 for 9% equity in her company. Her product is a Bluetooth speaker that attaches to a pet’s collar, allowing owners to type messages through an app that plays aloud from the speaker. It can also play music during walks and connect to phones. For her demo, she used a retired K9 German Shepherd who quickly won over the Sharks, especially Herjavec. While the product was entertaining, the Sharks dismissed it as a “glorified speaker.” Winowich, however, valued her company at $5 million, implying strong sales. She revealed she’d generated $2 million in revenue in the six months before filming, leaving the Sharks stunned, according to Market Realist.
"You sold $2 million of this c**p?" Kevin O'Leary asked in disbelief. Winowich appeared dressed as Snow White, which Daymond John initially disliked, though he later admitted, "You look amazing in that outfit now," after hearing her sales figures. But there was a catch. Winowich explained, "I saw PetSmart and they said they were extremely interested, but they like exclusivity. They bought over $2 million worth." While that sounded impressive, it meant the retailer had purchased the inventory, but the products had not actually been sold to consumers yet. Because of this, she couldn't provide solid proof that her company was worth $5 million.
O’Leary pointed out this flaw and was the first to decline, telling her no deal. Lori Greiner passed on the deal for the same reason as O'Leary, while Mark Cuban declined because he didn't understand the pet industry. John felt his offer would be too aggressive, and Herjavec agreed but still stepped in with a deal of $499,000 for one-third of the company. Though this was far beyond what Winowich originally asked for, Herjavec refused to budge, noting that $499,000 is a boatload of money and no Shark would risk it for such low equity. In the end, Winowich had no choice but to accept his offer.
An update on G.O.A.T. Pet Products shows it’s unclear whether the deal with Herjavec ever closed, but the company has since gone out of business, as per Shark Tank Recap. After the show, Winowich expanded the line with G.O.A.T. Milk Dog Treats, gluten-free snacks handmade by disabled workers at the Wisconsin Eisenhower Center, with proceeds supporting animal rescues.
The original speaker, first priced at $24.99 (later reduced to $11.99), along with other products, was sold on Amazon and received mostly positive reviews. However, by September 2021, the business had become largely inactive. Its Facebook page went quiet, the website shut down, and many products were out of stock on Amazon. The Bluetooth app hadn't been updated since March 2019, with users reporting problems, and the last Twitter activity was also back in 2019.
