On this past Friday’s episode of ABC’s “Shark Tank,” SiliDog, a company that creates silent pet tags, pitched to the sharks (what the show refers to the investors as).
In exchange for $100,000, SiliDog founder and CEO Mikey Lickstein offered 15 percent of his company to the investors. Lickstein received three offers from the investors, and after what proved to be an exciting time in the tank, Lickstein ultimately made a deal with Lori Greiner. The deal was for $100,000 in exchange for 30 percent, with a 50 cent royalty on each tag sold.
According to SiliDog’s website, Lickstein started the company after the dog he rescued would scratch throughout the night from the fleas it had, causing the metal tags to clink together. Because of this, he wanted to “create a silent pet tag — one that would silence the late-night noise from the scratching, collar-clinking, and water and food bowl clanking. In addition, the tags needed to be durable, comfortable, resilient, and attractive.” SiliDog tags are also supposed to never fade and can glow in the dark.
According to the company’s site, with each purchase made, money will be donated to a non-profit organization. Tags are available for customization and purchase on the SiliDog site, and there is also opportunity for pet retailers to sell the tag within their stores.