Lisa Lloyd’s company, Treasure Chest Pets, sells plush toys that look like stuffed animals but have hidden compartments for storing goodies. She came into Shark Tank Season 1 and asked the sharks for $150k in exchange for a 20% stake in her company.
Will the sharks include this plush toy product in their investment portfolio? Let’s find out what all 5 sharks have to say about this business. Additionally, we’ll learn what happened to this business after Shark Tank.
| Company Name | Treasure Chest Pets | |
| Founder/Co-Founder | Lisa Lloyd | |
| Founded | 2008 | |
| Product | plush toys | |
| Asked For | $150K for 20% equity | |
| Final Deal | $150K for 60% equity | |
| Shark | Daymond John & Barbara Corcoran | |
| Episode | S1 E7 | |
| Air Date | Sep 13th, 2009 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Phoenix, Arizona, United States | |
| Lifetime Sales | $1M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Lisa revealed that the average cost of making one product is $4.75, while its retail price is $19.99. Currently, the product is available in over 200 retail stores. Last year, she made about $100,000 in sales. She aims to get her product into big toy retailer stores, but she lacks the required capital amount.
Kevin O’Leary said that the distribution in the toy industry is tough, so he’s out. Kevin Harrington said that this product is limited by age and seasonality, so he can’t invest in it.
Daymond John and Barbara Corcoran teamed up to offer $150k, but they wanted 60% ownership of the company. Robert Herjavec offered $150k as a line of credit at the market interest rate without taking any equity.
Lisa accepted Daymond and Barbara’s offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | No Offer |
| Kevin O’Leary | No Offer |
| Robert Herjavec | $150k at the market interest rate as a line of credit. |
| Barbara Corcoran | $75k for 30% equity |
| Daymond John | $75k for 30% equity |
| Founder’s (Countered) | No Counter |
| Final Deals | $150k for 60% equity |
Treasure Chest Pets Shark Tank Update
Our research on Treasure Chest Pets indicates that the deal with Barbara didn’t go through. Daymond assisted Lisa in finalizing a deal with Buy Buy Baby, but due to intense competition, sales declined significantly, leading her to shut down her business.
Lisa received a lot of knowledge about the business from Daymond, and now she helps people under Invention Accelerator to launch their products in the market.
Are you ready to get updates on more businesses from Season 1? We’ve shared some links below that you can visit.
