Innovation Pet Shark Tank Update

Innovation Pet Shark Tank Pitch

Tim Taft and Victoria Co appeared on Shark Tank Season 7, Episode 21, which aired on March 10, 2016, with pet toys and supplies from dog houses to cat toys and more.

Innovation Pet is listed in the PetProducts category. In plain terms, the business is described as pet toys and supplies from dog houses to cat toys and more.

Innovation Pet asked the Sharks for $250,000 for 5%, implying a valuation of about $5 million.

On the show, Innovation Pet made a listed deal with Daymond John for $250,000 for 12.5% equity + 25% of online sales.

If treated as straight equity, the listed deal works out to about $2 million implied valuation, down from the original $5 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Innovation Pet After Shark Tank

Innovation Pet accepted an on-air Shark Tank deal, but the company later collapsed despite the initial optimism around its modular pet products. (Innovation Pet Shark Tank Blog update

The company filed for bankruptcy in 2020, and public bankruptcy-sale materials described the debtor as a designer and seller of innovative pet products whose business ran into serious trouble after its Shark Tank appearance. (Innovation Pet bankruptcy sale notice

Its assets were auctioned through the bankruptcy process, which is why current follow-up sources treat the original company as out of business. (Innovation Pet Shark Tank Blog update

Some Innovation Pet-style products or listings may still appear through marketplaces, but that is separate from the original operating company continuing as a going concern. (Innovation Pet Shark Tank Blog update

Sources

Sources used for this page: Shark Tank API pitches