What Happened to SiliDog After Shark Tank?
What is SiliDog?
SiliDog is a company that makes one-of-a-kind dog tags. Each tag is made of waterproof, soundproof silicone that will never fade.
They are also available in a wide range of colorful hues, from bright pinks to deep greens and dark blues.
The actual beauty of this fashionable item is that you can customize it with a short remark that reflects your dog’s personality and flair. You may get it printed right away on the tag so that everyone can see it.
Michael Lickstein is the founder and CEO of SiliDog. Prior to founding his dog tag company, Michael had a plethora of business experience.
He began his work as an undergraduate assistant at the Center for Innovation and Entrepreneurship at the University of Florida.
Before starting Lick’s Clique, he worked as a Business Analyst Team Lead at the University of Florida’s Innovate and Tech Licensing Center.
Who is the founder of SiliDog?
Michael Lickstein founded and leads SiliDog. Prior to founding his dog tag company, Michael had a plethora of business experience.
Michael conceived the idea after rescuing a dog whose previous owners had abandoned him. The dog was infested with fleas and scratched constantly, causing his tags to clash and clatter. That’s when the idea for noiseless dog tags was born.
In 2015, he launched the startup on Kickstarter, garnering $11,357. Michael is a dog lover who raised dogs while in high school. He was motivated to create SiliDog tags when a friend brought him a dog that had been thrown from a moving vehicle.
Bentley, the dog, thought he’d found the ideal person in Mr. Lickstein. They assembled a team and launched the company from his parents’ garage, with the help of a few friends.
What Happened to SiliDog’s pitch on Shark Tank?
Michael Lickstein seeks a Shark investment for SiliDog, the next generation of dog tags, in Shark Tank episode 806. Michael needs seed money to fund increased manufacturing as well as assistance in approaching major chain pet shops.
Michael entered the Shark Tank seeking for $100,000 in return for a 15% stake in his company, which valued $666,667.
He tells the story of Bentley and how he came up with the idea for the tags. He explains the Sharks that making a tag costs $2.99 and that he sells them for $19.99 while handing out samples.
He sells at 90 mom-and-pop pet businesses and has made $142,000 in sales. He expects to make $200,000 in sales in a year.
He started the company with barely $5,000. He feels that licensing and customized branding will be the company’s next step.
He hopes to use the $100,000 to expand his manufacturing, which has been taking place in his garage.
Kevin adores Michael but could not see himself “doing the dog tag thing,” so he went out.
Mark quickly followed Kevin out, declaring his disdain for the pet market.
Barbara was the next to exits, citing a lack of investing prospects.
Robert claimed that he would “take a flyer” and contribute $100,000 for 50% ownership of the firm.
Lori offers $100,000 in exchange for 51% ownership, giving her a controlling share.
Lori declines Michael’s counter-offer of $100,000 for 25% equity shares and exits.
Barbara comes with a $100,000 offer for 30% equity shares plus a $2 per unit royalty until her payment was made.
Kevin reappears and opposes Barbara’s offer with a $1 royalty. Barbara states that she would match Kevin’s offer, and Kevin then agrees to a royalty of 75 cents.
Lori says that she will do the same deal of $100,000 for 30% equity shares at a royalty of 50 cents.
Then Robert undercuts Lori by offering $100,000 in exchange for 30% stock and a $0.25 royalty.
Lori’s offer of $100,000 for 30% equity shares + $0.50 royalty per unit was ultimately accepted by Michael, and the pitch ends with a deal.
What Happened to SiliDog After Shark Tank?
After the episode aired and Michael left the pitch with a deal, the deal with Lori was never consummated, and SiliDog struggled to meet the Shark Tank Effect’s deluge of orders. As a result, multiple complaints were filed.
Fortunately, the issues were about delivery time rather than product quality, and Michael collaborated with them to find a solution. As of January 2022, the company was still in business, with annual revenues of roughly $900,000.
Looksur, L.L.C., Lowest Price Merchant Inc., Bitsy Bottom, LLC, and Chic Deux Boutique are SiliDog’s main competitors.
SiliDog’s Net Worth
During the pitch, the firm’s value was $666,667; however, the company is still in operation, therefore the company’s net worth might have been more.
Customers can purchase SiliDog tags online on the company’s website, where they sell hard-to-get tags at a discount, and in stores like PetSmart.
How do I get my dog’s name on a tag?
The process is quite easy. Customers will have to pick out a colored tag from an array of options. After that, they’ll have to specify their dog’s name along with a short message (optional).
Yes, they are remarkably sturdy.
Durable, waterproof and dishwasher-safe, these tags can last for years without losing their shape or fading in color.
A single tag is priced at $19.99; however, customers can get two of them for $29 and more than that if they purchase via the company’s website.
What is SiliDog made of?
SiliDog tags are made of polypropylene, which is the same material used in laundry detergent bottles and cups. It’s also sturdy enough to handle a dog biting on it. So, these tags are quite lightweight, but they won’t be easily destroyed by a dog’s teeth.
Customers can simply dip their SiliDog tags into bleach and watch them turn white after washing in the dishwasher under gentle heat.
What is the return policy of SiliDog?
Customers have 30 days to return unwanted tags, but they will have to pay the shipping cost. How do I order custom dog tags?
Customers will first have to pick the colors, and then they’ll have to specify their dog’s name along with a short message (optional).
They are remarkably durable, waterproof and dishwasher-safe.
Yes, SiliDog tags are water-resistant and will not fade in color when they get wet.
Are SiliDog Are Tags safe?
Yes, they are safe to wear on dogs of all ages.
Yes, these tags can be recycled into educational tools such as pencils or earrings set.
How do I make payment to SiliDog?
Customers can make payments through credit cards, PayPal or Amazon.
Is SiliDog tag made of PVC?
The tags are made from polypropylene, which is one of the most common plastics in the world, but unlike PVC, it’s not toxic.