In season 7 of Shark Tank, Tim Taft and Victoria Coopman came to pitch their company, Innovation Pet. Get a recap of their episode, see if they made a deal, and if they are still in business today or not.
| Business Name | Innovation Pet |
| Founder(s) | Tim Taft and Victoria Coopman |
| Business Genre | Pet Supplies |
| Shark Tank Season and Episode # | Season 7 Episode 21 |
| Asking Price | $250,000 for 5% |
| Business Status | Out of Business |
What is Innovation Pet?
Innovation Pet is a line of innovative and interactive pet products. Products include: chicken coops, dog houses, dog toys, cat toys and much more. Their flagship products won awards at pet shows, and they were popular on Amazon.
Did They Strike a Deal?
Tim Taft and Victoria Coopman did strike a deal with Daymond John. Daymond offered $250,000 for 12.5% equity plus 25% of online sales.
Shark Tank Recap
Robert Herjavec, Lori Greiner, and Mark Cuban didn’t believe they could add value to the company because it’s outside of their wheelhouse, so they went out. While Kevin O’Leary seemed unimpressed about the numbers, he did make an offer for $250,000, but he wants a 6% royalty until he gets $500,000 back, and then still wants the 5% equity. Daymond John made an offer of $250,000 for 12.5% equity plus 25% of online sales, which Tim and Victoria accepted. He was also eager to help them with licensing deals.
Innovation Pet Shark Tank Recap: How Much Did They Ask For?
Victoria and Tim asked for $250,000 for 5%.
Who is Victoria Coopman, co-founder of Innovation Pet?
Victoria Coopman has over 20 years of executive business experience. She is an expert at leading teams and strategic planning. She has worked with/in retail consumer products, commercial construction, multifamily housing and transportation. Currently, she owns and operates her own consulting firm, Victoria Coopman Consulting, LLC.
Are They Still in Business?
No, they went bankrupt in 2020. All of their social media looks to be taken down too.
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