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Cousins, Kirby Holmes and Evan Daughtery, began designing air filter masks about five years ago. Their initial designs were intended to protect humans from environmental hazards such as smoke from wildfires, debris from dust storms, and other air pollutants. While monitoring online search results, they discovered that consumers were not only concerned about protecting themselves from these hazards, but they also wanted to protect their dogs as well. Kirby and Evan developed K9 Mask as an answer to their consumer’s problem. K9 Mask is an air filter for dogs that comes in a variety of sizes to fit various muzzle shapes. These specially designed masks use N95 and activated carbon filters with a washable inner liner that can easily be reused.

K9 Mask came to the Shark Tank hoping to secure an investment of $200,000 in exchange for 20% equity in their company. They would use the investment and capital infusion to expand their business to make masks for various other pet types. In order to expand and grow their business, Kirby and Evan really need to get a handle on their manufacturing costs and the only way they feel they can do that is by partnering with a Shark who understands their business and can help them to grow. The Sharks are concerned that there may not be a large enough market for K9 masks. Over the last 14 months, K9 Mask has had only $204,000 in sales. Evan and Kirby feel that the Sharks are missing the opportunity in front of them since many Americans feel that their pets are part of their family and should be protected also.

Although it looked as though K9 Mask was going to leave the Shark Tank without a deal, Daymond John decided to extend them an offer. Because his portfolio already extends to the pet space, Daymond believes that he can add value to K9 Mask by helping to drive down their costs and expand their reach to sell more product. Daymond offers to invest $200,000 but in exchange would want 45% equity in the company. This would give Kirby and Evan the majority ownership but would give Daymond a higher stake in the company. They countered for 40% equity and Daymond accepted their counter offer.

Do you think that investing in K9 Mask was a wise investment for Daymond? If you were Evan and Kirby would you have given up so much equity in your company? As a consumer, would you purchase this product? Begin the dialog in the comments below!