Dogs are adorable, and some of them love to be carried. Anatasia Balyura, a law student, came up with the idea of “Heart Pup.”
Heart Pup is a dog carrier that can hung on the shoulder, so you can carry your dog everywhere with you. She managed to get the deal with Daymond John in the Season 6 Episode 3 of Shark Tank.
This article dives into all the details that happened in Season 6, Episode 3 of Shark Tank, and gives you an update on the Heart Pup.
Heart Pup Net Worth
Anastasia Balyura asked for a $25,000 investment in exchange for 10% equity in her company. This meant she valued her company at $250,000. She made a deal with Daymond John for $50,000 in exchange for 40% of her company, which valued her company at $125,000. After the show aired, Heart Pup saw a significant increase in sales and exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Heart Pup is about $321,000.
Heart Pup Shark Tank Update
Anatasia Balyura introduced her product Heart Pup, which she made for her convenience while she was in the final semester of law school. She demanded $25,000 for 10% equity in her company and got a deal from Daymond John, who offered her $50,000 for 40% in her company.
Heart Pup is still an operational business generating a revenue of $500,000 each year. With the expansion of her business, she has attracted a huge customer base towards her business.
Did Heart Pup get a deal on Shark Tank?
| Shark(s) name | Offer | Demand | Counteroffer | Accepted? |
| Robert Herjavec | Out | N/A | N/A | N/A |
| Lori Greiner | Out | N/A | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A | N/A |
| Daymond John | $50,000 for 40% equity | $25,000 for 10% equity | N/A | Yes |
| Mark Cuban | Out | N/A | N/A | N/A |
Heart Pup Founders and Backstory
Anastasia Balyura is the person behind Heart Pup. She calls herself an entrepreneur by accident. She was attending law school and carried Trixie with her. She had huge books, and carrying Trixie along with the books would become inconvenient for her, so she decided to come up with Heart Pup.
Heart Pup is a pet boutique whose design label is based in Los Angeles. Anastasia established her company in August 2013. The company has expanded and now sells even more products.
Initial Presentation
Anastasia Balyura introduced her product, “Heart Pup,” and sought $25,000 for 10% equity in the company. She introduced her pet companion, Trixie. She took Trixie even to her law school. Trixie loves to be handled all the time. Her product, Heart Pup, is a dog carrier, and she carries Trixie in it everywhere. She said that Trixie was with her even at that point.
The sharks were shocked to see Trixie when she took off her jacket. She explained more about her business, “Heart Pup.” She claims that they are the best dog carriers in the world as they are functional, comfortable, and fashionable. The slings are handmade, and the material is Italian cashmere. It has a luxurious touch to it.
The largest outside pocket lets you bring your phone, keys, and wallet. The design goes on both shoulders to add comfort. The clip is attached to the puppy’s collar or harness. Anastasia gave the samples to the shark. She started to sell the heart pups in July 2013. She shared that she had sold nearly 980 units for $138. She made $135,000 in sales in a year.
The cost of the fabric is $8, while the production cost is $8, making the manufacturing cost $16. The manufacturing cost, compared to what she is selling it for, is a lot less. She has massive margins with this difference. The sharks were amazed by her margins, too. Robert mentioned, “Your margins are crazy” and Daymond added, “Those are the best margins that I have ever heard”.
Challenges and Motivations
She said getting the money is one thing, but she is majorly focused on getting the right strategic partner that will help her grow her business. Lori asked about her ways of selling her product. She added that she sells them online and uses word-of-mouth marketing.
Sharks inquired about Anastasia and how she utilized the funding. She replied that she wanted to build a factory intended for the manufacturing of these dog carriers. This will enable her to focus on the business operations.
Final Negotiation and Deal
Robert Herjavec shared his love for animals, but Anastasia’s vision did not align with his, so he refused to invest. Mark Cuban was on the same page with Robert Herjavec, so he was out, too. Lori mentioned that the product can be easily copied and replaced by someone else.
She found the product to be niche, and for these reasons, she did not invest in the business. Kevin was out, too, because he did not like small dogs and would personally not pet them. At last, Daymond John saw that this business could go far, so he offered $50,000 for 40% equity in the business. Anastasia accepted Daymond’s offer. Daymond was looking to invest in the pet industry, as he is a known animal lover.
Heart Pup Availability
Heart Pup is a dog carrier acting as a combination scarf. The carriers are more than a fashion accessory and add the functionality of holding the puppy inside them.
The materials used to make it are Italian cashmere, knit, recycled copper, and leather. The dogs are in the pocket of the sling, which hangs from the shoulder, making the product comfortable.
The appearance of Heart Pup on Shark Tank has greatly increased its customer base and exposure. It was featured in different publications, like Bustle and Teen Vogue. The business has a strong online presence as well.
The Heart Pup products can be bought on the company’s website. The company offers different discounts, but there is a strict no-return policy. The company has gotten some criticism over the high prices and no-return policy.
Conclusion
Heart Pup is still operational and flourishing. Anastasia secured a deal of $50,000 for 40% equity with Daymond John on Shark Tank. Since then, Anastasia Balyura’s pet carrier business has grown, generating a yearly revenue of $500,000 and expanding its customer base. With its unique design and added functionality, Heart Pup continues to grow in the pet industry, proving that comfort and style can go along.
Hi! I’m Neha Chaudhary, and I hold a degree in electrical engineering. I am passionate about technology and work as a freelance AR artist and writer. I am profoundly fond of the show Shark Tank. Not only does it promote the entrepreneurial spirit, but it also helps younger people achieve their entrepreneurial dreams. It can also be considered the number one show to watch for anyone who wants to pursue business and pitch their ideas. Read more About me.