The Grommet
The Grommet

Last into the tank is Mikey Lickstein of SiliDog, seeking $100,000 of 15 percent equity.

SiliDog is the silent pet tag. No more jingles whenever your pet moves! The silicone tags also never fade, glow in the dark, come in a variety of colors and have a social impact. The tags contain the pet’s name and phrases such as, “”I am chipped!” “I’m lost, rub my belly” or “WARNING: Will lick your face!” According to their website, “The SiliDog brand gained its inspiration from a rescue dog named Bentley in St. Augustine, Fla.” Bentley had fleas and would continuously scratch through the night, inspiring Lickstein to create a silent tag, “one that would silence the late-night noise from the scratching, collar-clinking, and water and food bowl clanking.”

The tags are fully customizable and cost $19.99. Robert Herjavec says jingling tags are annoying but solved it with a plastic tag. But Lickstein says plastic tags can still fade. They have done $142,000 in sales.

There are no other tags on the market like SiliDog, according to Lickstein, but Herjavec disagrees.

With an investment, they hope to license, get more inventory and increase production. Kevin O’Leary does not see it as investable and goes out, followed by Mark Cuban and Barbara Corcoran.

Herjavec offers $100,000 for 50 percent, but Lickstein is unsure as to whether that much equity can be given. Lori Greiner then jumps in and offers $100,000 for 51 percent, citing previous successful experience. He counters having Greiner and Herjavec for 25 percent, but Greiner does not accept and goes out.

Herjavec updates his original offer to $100,000 but still for half the business, but before Lickstein can accept or decline, Corcoran rejoins the deal-making process. She offers $100,000 for 30 percent, but for $2 royalty for every tag sold. O’Leary matches her offer at $100,000 for 30 percent, but for only $1, which Greiner matches. O’Leary then goes down to 75 cents. Greiner then goes down $100,000 for 30 percent for 50 cents, which causes Corcoran to go out.

Herjavec then offers $100,000 for 30 percent, for a 25 cent royalty on every tag sold. Ultimately, he accepts Greiner’s offer.

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.

“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.

Social Media Reacts to SiliDog’s Appearance on “Shark Tank”

Would you buy a SiliDog tag for your pet? Sound off in the comments section below!