ABC's Shark Tank is a show where entrepreneurs pitch their latest and greatest ideas. Just recently someone pitched Pet Paint where you can decorate your pet.
When Abe Geary pitched Pet Paint on Shark Tank he was ready for some choppy waters. Selling pet-safe, non-permanent, colored hair spray for dogs meant creating a brand new market. But Abe believed in his vision, the product was gaining traction with groomers and Pet Smart had agreed to start carrying PetPaint. Still, one of the Sharks threw him a curve ball that had a major impact on his time in the tank.
When Mark Cuban asked what Pet Paint was doing online, Abe admitted he was focusing primarily on retail. This didn’t sit well with Cuban, who liked the product but decided to pass on the investment. “Where I have a huge, huge problem is that you weren’t able to see that online was your best solution,” he said. “To me that’s so obvious.”
“The biggest challenge, and the greatest asset, that we have is that it’s a new and exciting product,” Abe replied. “All the more reason why the web would have worked great for you,” Cuban countered.
That is when Barbara Corcoran stepped in. The self-made real estate mogul offered Abe $200,000 for a 60 percent majority stake in his business. Acknowledging Cuban’s earlier advice, she emphasized the online opportunity for Pet Paint. “Your most obvious play here is the website,” said Corcoran. “That’s where your gold is.”
Ultimately Abe walked away from the deal, but he did take the Sharks’ advice. When the episode aired, PetPaint.com saw a huge spike in traffic and sales through their Bigcommerce store.