Pets have become family members these days. They need to be properly cared for and looked after. However, we can’t take them everywhere we go and hence have to leave them behind with our other relatives in times of emergency. But during this phase, dogs face separation anxiety and even the owners miss them a lot.
Brooke Martin and James Pelland, the owners of ICPooch, have introduced a very smart system to make you feel connected with your pets. Their product has merged the tech industry with the pet, according to the demand of the digital world. The device will help people video call their pet and even give them food, and treats to enjoy from a distance. The device can be used through a free app on our mobile phones.
The owners came on Shark Tank to request $150K for 20% of their company. They also brought with them Yoyo, a pet dog, to demonstrate how their device can be helpful for the dogs and their owners. Let’s see if they got the deal or not.
ICPooch Net Worth Shark Tank Update
Brooke Martin and James Pelland were looking for an investment of $150k in exchange for 20% equity in the company. At the time of the episode, they valued their company, ICPooch, at $750k. They did not secure a deal with any of the Sharks. After the show was aired, the company experienced some exposure. However, ICPooch struggled in the market and eventually shut down in 2021. As per my rough estimate, the current net worth of ICPooch in 2024 is $0, as the business is no longer operational.
Brooke related that she got the idea of making a device for pets when she was only 12 years old. Then she pitched the idea at an event called the Startup Weekend. She then got a team of developers and designers. She met James through school and made him the CEO of the business.
James related that he had worked in the computer industry for 11 years and then left it to become a permanent member of ICPooch.
Their device is a pet tech that helps connect a dog with their owner. It also dispenses off treat for the dogs to enjoy in the absence of their owners.
Initial Pitch
The owners came on the show to seek $150K for a 20% equity stake. Their device is basically a smart system to interacts with pets from a distance to ensure the safety of the pets and to get rid of their separation anxiety.
Herjavec asked the first question regarding how the dogs can be trained to use the device consistently. Brooke replied that she was recently invited to an American Professional Dog Trainer Association, where she discovered that already dogs are using Skype to get connected with their owners.
He also asked about the device’s cost to make and the selling rate. James replied that they are selling it for $149 and it cost them $60 to make. They had already sold 115 units.
Cuban inquired about the income James getting from the business. He replied that he gets nothing from it. He also pointed out that they want to improve the design of their device.
Lori then asked about their presence in retail. James highlighted that they are shipping to Amazon as they want to launch a pet tech but they don’t know about the number of units yet.
Shark’s Response and Final Decision
Cuban was the first shark out as he highlighted that an extra tablet for the device to be used creates a hindrance for many people to buy the product.
Lori also backed out of the deal as the product although good for the owners of pets has only 30% margins, which makes it difficult to invest in.
Mr. Wonderful then clearly highlighted that he hates the product as dogs also need some separation time from their owners. Thus, he dropped out too.
Herjavec followed Kevin and decided to back out of the deal as the sales of the device were very low.
Finally, Daymond also dropped the deal as he thought the device would cause more anxiety in the pets.
IC pooch remained unfortunate not only on the show with the sharks but also in the market. They didn’t get any deal from the sharks and in 2021, they completely shut down their business for all times. Brooke however is pursuing her career in other fields. Looks like ICPooch was not fit for her.
In conclusion, ICPooch made an impression on Shark Tank as it was an idea of a 14-year-old girl. However, it was not favored by the judges on the show, and fortunate for them, the business was not successful in the wider market as well.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
