While fishing can be a tranquil and enjoyable pastime, it can also be discouraging when the fish simply refuse to bite. Many fishermen have difficulty selecting the ideal lure to draw in fish. The inability of traditional lures to accurately imitate real fish makes it more difficult to capture anything.
Here’s where Animated Lure steps in, providing a special remedy for this everyday issue. Sobhan Sanaee and Kanz Kayfan developed Animated Lures in order to address the issue of ineffective lures. They created a rechargeable robotic fishing lure that imitates the appearance and movement of a real fish, increasing its allure to fish.
The investors on Shark Tank were drawn to their novel product. Kanz and Sobhan came in seeking an investment to grow their business. They requested $325,000 in exchange for 10% equity. Did the entrepreneur get a deal on Shark Tank? Check out our Animated Lure update to find out!
animated lure Net Worth Shark Tank Update 2025
Sobhan Sanaee and Kanz Kayfan asked for a $325k investment in exchange for 10% equity in their company. This meant they valued their company at $3.25 million. They made a deal with Kevin O’Leary for $325k in exchange for 10% of their company, plus a $3 royalty per unit sold until Kevin recouped his investment. This new deal still valued the company at $3.25 million. After the show aired, Animated Lure saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Animated Lure is about $4.74 million.
The agreement with Kevin O’Leary fell through, but Animated Lure kept growing. As of today, the business is still operating and doing fairly well. They have increased the range of products they offer, and their estimated net worth is greater than $3 million.
These days, they have a wide range of fishing lures that imitate different fish, such as Atlantic herring, mullet, sardine, and yellowtail snapper. Fishing aficionados worldwide have easy access to these lures because they are available on their website and on Amazon.
Yes, on Shark Tank, Animated Lure was able to close a deal. In exchange for 10% ownership in the business and a $3 royalty on each unit sold up to a $1 million profit, Kevin O’Leary pledged $325,000. Sobhan and Kanz attempted to negotiate, but Kevin would not move from his demands, and the founders took him up on his offer. Regretfully, following the show, the agreement didn’t close. However, the business kept expanding in spite of this.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Kevin O’Leary | $325k for a royalty of $3 per unit sold until $1M is paid + 10% equity | 1# $500,000 for 20% of equity 2# $325k for a royalty of $1.50 per unit sold until $500k is paid + 10% equity | Yes |
| Lori Greiner | Out | N/A | N/A |
| Robert Herjavec | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Animated Lure Shark Tank pitch
Animated Lure was the brainchild of Sobhan Sanaee and Kanz Kayfan, who intended to increase people’s success and ease of fishing. They were passionate anglers, so they understood the frustration of having excellent bait and still no bites. They recognized the possibility of creating a robotic lure that would imitate the movements of actual fish quite accurately, increasing the likelihood of a catch.
They initially spent $125,000 of their own funds on the product’s development, but it wasn’t simple. It was necessary to refine the design, lower costs, and guarantee that it would function in various water conditions. They overcame these obstacles to introduce their product and increase sales before visiting Shark Tank.
The sharks were immediately captivated by Sobhan and Kanz’s presentation of Animated Lure on Shark Tank. Their offering was a rechargeable robotic fishing lure that imitated the movements of a real fish, saving consumers from having to constantly buy fresh batteries. The lures had a significant profit margin because they only cost $8 to $16 to create, but they sold for $29.95 to $79.95 at retail.
They had already generated $247,000 in sales, and by the end of the year, they expected to have grown even more. To help them grow their firm and diversify their product offering, they requested $325,000 in exchange for 10% stock.
Kevin questioned how long the charging lasts. The founders responded that minis stay up to 45 minutes, moderate-sized fish stay up to 1.5 hours and the largest one stays up to 2 hours.
Mark Cuban questioned the sales, cost, and the price of the product. Founders revealed that the mini fish costs $8 to make and retail it for $29.95. Right now all their sales are through their website. In 2020 they did $247,000 in sales and expected half a million dollars this year.
Mark Cuban stated that he wasn’t a fisherman and didn’t feel a personal affinity for the product, which made him uninterested.
Mark and Lori have the same motivation. She acknowledged that she didn’t enjoy fishing and didn’t see herself working in the industry.
Although he thought the company still had a ways to go, Robert appreciated the product. He made the decision to pass since he wasn’t ready to invest.
Daymond worries about the length of time it will take to recover his investment in fishing. Although he thought the idea was cool, he wasn’t sure it was the best investment for him.
The majority of the sharks were gone early.
Both Lori Greiner and Mark Cuban passed away fast because they had no interest in fishing.
Although Robert Herjavec thought the product was good, he wasn’t ready to invest because the company still needed to grow.
Even though Daymond John was aware of the fishing industry, he didn’t feel confident enough to pass because he wouldn’t be able to collect his money back in a timely manner.
Kevin O’Leary was the only shark with any curiosity. He saw the opportunity for growth and enjoyed the large profit margins. In exchange for 10% stock and a $3 royalty on each unit sold up to a $1 million profit, Kevin offered $325,000. Kanz and Siobhan attempted to negotiate, but Kevin was adamant, and they ultimately agreed to his terms.
Product Availability
A Rechargeable robotic fishing lure that mimics the movements of a real fish in the water is called the Animated Lure. Because of its design, which imitates fish’s natural swimming patterns, it has a far higher chance of drawing in additional fish. It comes in mullet, sardine, and Atlantic herring designs and is constructed from sturdy materials including ABS and anti-corrosion stainless steel.
Products from Animated Lure are available for purchase on Amazon and their own website Animated Lure. Prices and sizes vary, with items priced between $29.95 and $79.95. These lures are excellent for saltwater and freshwater fishing, making them useful equipment for every angler.
Conclusion
Despite significant setbacks during its Shark Tank journey, Animated Lure is still a successful business today. Despite the failure of the Kevin O’Leary agreement, Sobhan Sanaee and Kanz Kayfan kept expanding their company.
They are demonstrating that it was worthwhile to pursue their creative idea, as seen by their growing product range and net value of over $3 million. It will be interesting to watch what additional goods they come up with and how far their company has come in the future. Keep a lookout for any upcoming exciting updates on Animated Lure!
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
