All pet owners love taking their pets out with them, but sometimes it may happen that the pet might get covered in dust or dirt which makes people reluctant to let them back into the house.
Luckily, the founders of Aquapaw, Danial Lentz and Tom Zipprian understand that the pet may not like to be drenched with cold water and then scrubbed unceremoniously just to make him/her look clean. Instead, their new product is made to ensure that the pet enjoys being cleaned and the owners don’t have to go through too much hassle to do so.
Aquapaw at a glance.
| Business idea | A handheld pet cleaning device |
| Founder | Daniel Lentz |
| Asked for | $200,000 for 7.5% |
| Accepted deal | No deal |
| Sharks | No deal |
| Business status | In business |
| Episode | Season 10, Episode 10 |
| Website | Aquapaw |
| Buy on Amazon | Buy Now! |
Index:
Founder Story:
The founders of Aquapaw, Daniel Lentz and Tom Zipprian had the idea of a handheld pet cleaning accessory when the former was studying at Virginia Tech in 2016. Lentz, as a pet owner himself, was used to the problems associated with bathing the pet and thought that his idea would be a unique solution to those issues.
They then had a successful Kickstarter campaign of around $42,000 in the same year to get the gears turning for their business. Research and development were done throughout 2017 and I 2018 their product was awarded to be the best at the Global Pet Expo. They then came to shark tank to help secure a deal and an investor in order to grow their business further.
Did Aquapaw get a deal on Shark Tank?
The founders’ Daniel Lentz and Tom Zipprian come up to the sharks and introduce themselves, asking for $200,000 for 7.5% of their company, Aquapaw. They start their pitch by explaining how pets are very difficult to clean and how they have come up with a solution through their product Aquapaw, a handheld water spray that can also be used as a scrubber to clean the pet properly without the pet feeling uncomfortable.
They then give sample products to the sharks while Robert comes forward to try the product on the dog, named Claire, as he seems to like dogs. Bethenny Frankel, a guest shark, then asks about their costs, and they say that the item is sold to the customer at $24.99, the wholesale price being $12.50 and the manufacturing cost being $5.25 which, according to Daniel, can be brought down to $4.50. their sales are around $200,000 and they initially had a Kickstarter campaign of around $42,000 and have been selling through their website and through their partnership with another company called uncommon goods.
They also mention that they have been in contact with other big Pet apparel companies that are watching the company before they try for a deal. Robert then says that he does not understand why they have kept the valuation at $ 3 million since they only have $200k in sales. Tom then says that they will grow exponentially afterward with their social media exposure and advertising but Daymond thinks that they are basing the valuation according on future projections, which does not seem right. Tom also says that they have a utility patent for review as well as an international patent application pending.
Mark does not like pet products and Lori thinks that there is too much competition in the industry, so they go out, while Robert, Bethenny, and Daymond each put forward a deal of $200,000 but for 30%, which the founders do not want to accept. Robert and Bethenny then back out because they do not want to go lower. The founders then try to negotiate with Daymond, but he does not budge. In the end, the founders decline the offer and leave the tank.
What happened to Aquapaw after Shark Tank?
Even though the founders left shark tank without a deal, they continued to be present on social media and their product is available on various websites including Chewy, Amazon, Petco, and their own website. They have also introduced a new product called the treater treat dispenser mat that can be attached to the walls of the bathroom to keep the pet occupied when bathing it.
Product details:
- The product is a handheld spray with a scrubber-like texture with a button that can be turned on or off with one hand.
- The product costs around $24.99.
- The company can be contacted at, mail@aquapaw.com
- The company is based out of San Jose, California.
Competitors of Aquapaw
Some competitors of Aquapaw are-
- Otterly pets
- Furtrieve LLC
- PetSpy LLC
What is the net worth of Aquapaw?
When the founders of Aquapaw appeared on the shark tank, they had kept their evaluated net worth at around $ 2.5 million as per the founders. Currently, in 2022, the net worth of this company is around $ 2 million.
Is Aquapaw still in business?
Yes, Aquapaw seems to be in business as of 2022, with annual revenue of around $ 4 million. They still operate by selling their variety of pet accessories on pet apparel websites and e-commerce platforms like Amazon.
We do not know much regarding the future prospects of this company, but it may still be to innovate new pet-friendly products.
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FAQs:
What is Aquapaw?
Aquapaw is a handheld pet cleaning device. Daniel Lentz and Tom Zipprian had the idea of a handheld pet cleaning accessory when the former was studying at Virginia Tech in 2016.
Who founded Aquapaw?
Daniel Lentz and Tom Zipprian had the idea of a handheld pet cleaning accessory when the former was studying at Virginia Tech in 2016. Lentz, as a pet owner himself, was used to the problems associated with bathing the pet and thought that his idea would be a unique solution to those issues.