Pets are a source of happiness for millions of people. But taking care of them can sometimes feel challenging. Many pet owners struggle to find products that truly improve their pets’ lives. From fun toys to practical solutions like chicken coops or comfortable pet beds, the options available often fall short. Some products are expensive, while others don’t work as advertised. This leaves pet owners looking for something reliable, effective, and affordable.
This is where Innovation Pet stepped in. The company offers a range of interactive pet products to solve common problems faced by pet owners. Their products were designed to entertain and provide comfort to pets.
When Tim Taft and Victoria Coopman brought their idea to Shark Tank Season 7, they aimed to expand their business with the help of the Sharks. They pitched their innovative and creative pet products, hoping to make life easier for both pets and their owners. The entrepreneurs requested $250,000 for 5% equity. Did the entrepreneur get a deal on Shark Tank? Check out our Innovation Pet update to find out!
Innovation Pet Net Worth Shark Tank Update 2025
Anne and Chris White went on Shark Tank asking for $250,000 for 10% of their company. This meant they thought their business was worth $2,500,000. They did not make a deal with any Shark. The episode was aired in March 2015. The company stopped operations around 2020 and is no longer active. The current net worth of Innovation Pet is $0 in 2025.
The story took an unfortunate turn. After its appearance on Shark Tank, the company experienced growth. They gained attention for their products, which were already available in popular pet retail stores. With Daymond John on board as a partner, there was hope that the company would reach new heights.
Despite these efforts, Innovation Pet declared bankruptcy in 2020. The company could not sustain its operations and failed to recover financially. As a result, all of its assets were auctioned off. Today, Innovation Pet is no longer in business. This is a disappointing end to what once seemed like a promising venture.
Yes, Innovation Pet secured a deal on Shark Tank. Tim and Victoria asked for $250,000 in exchange for 5% equity in their business. Daymond John offered them $250,000 for 12.5% equity, along with 25% of profits from online sales. After some negotiation, the entrepreneurs accepted Daymond’s offer.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Robert Herjavec | Out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | $250,000 with a 6% royalty until $500,000 recovered + 5% equity | N/A | No |
| Daymond John | $250,000 for 12.5% equity + 25% of online sales | N/A | Yes |
| Mark Cuban | Out | N/A | N/A |
Innovation Pet Shark Tank pitch
Tim Taft and Victoria Coopman were passionate about pets and wanted to improve the lives of pet owners. They realized that existing products on the market often lacked quality, affordability, or creativity. Their goal was to create solutions that were both functional and engaging for pets.
The journey was not easy. Developing innovative products requires significant effort and resources. They had to design, test, and manufacture their ideas while ensuring they met safety standards for pets. Additionally, gaining recognition in the competitive pet industry was a challenge. But their determination and love for animals kept them going.
Tim and Victoria entered the Shark Tank with confidence. They introduced their company, Innovation Pet, as a brand focused on creating interactive and practical pet products. Their pitch included showcasing some of their popular items, such as chicken coops and cat play models.
They explained that their products were more affordable than competitors while maintaining high quality. The duo also revealed that Innovation Pet was already in major pet stores and had impressive sales projections of $2.5 million for the next year. They asked for $250,000 in exchange for 5% equity, valuing their company at $5 million.
The Sharks had many questions about Innovation Pet’s business and products.
Kevin O’Leary asked about the company’s profit margins. Tim revealed that the margins were 27%. Kevin found this lower than he expected and expressed concern about profitability.
Daymond John asked about the chicken coop product, as he had personal experience with chicken coops. He wanted to know why their product was priced lower than competitors. Tim explained that their design and materials allowed them to reduce costs without compromising quality.
Robert Herjavec questioned whether the company truly needed a Shark or just financial backing. He felt the company was already successful and didn’t see how he could add value.
Each Shark responded differently to Innovation Pet’s pitch:
Daymond John liked the chicken coop product and saw potential in its affordability. He offered $250,000 for 12.5% equity and 25% of profits from online sales.
Kevin O’Leary believed the company only needed financial support, not a Shark’s expertise. He offered $250,000 with a 6% royalty on sales until he recovered $500,000, plus 5% equity.
Lori Greiner appreciated the products but admitted she couldn’t contribute to the business. She went out.
Robert Herjavec liked the company but felt it didn’t align with his expertise. He went out.
Mark Cuban also chose not to invest, saying the company was not in his area of interest.
After considering the offers, Tim and Victoria accepted Daymond’s deal.
Product Availability
From our Innovation Pet update research, the company’s products are no longer available. After filing for bankruptcy, all assets were auctioned off. This means their products, which included interactive pet toys, chicken coops, and other innovative items, are no longer being manufactured or sold.
Previously, Innovation Pet’s products were available in major pet stores and online platforms. However, as of today, the company has no official website or retail presence.
Conclusion
Innovation Pet entered Shark Tank with a mission to make pets’ lives better. Tim and Victoria’s innovative products impressed the Sharks, especially Daymond John. Although they secured a deal and experienced initial success, financial challenges ultimately led to the company’s closure.
This journey highlights the difficulties of sustaining a business, even with Shark Tank’s exposure. Innovation Pet’s story serves as a reminder that success requires more than just great products. It also depends on financial management, market demand, and adaptability.
Stay tuned for more updates on other companies featured on Shark Tank. Their journeys continue to inspire and teach us valuable lessons about entrepreneurship.
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.
