Pets have become family members in the majority of homes today, especially dogs. They have become people’s favorite with their friendly and supportive gestures. Thus, there are multiple treats available to please pet dogs these days. However, a sweet treat is still missing.
Kelly Chaney, the owner and founder of Puppy Cake, has fulfilled this dog’s craving too. The product consists of a mix with yogurt frosting which can be prepared by just adding oil, water, and eggs. One box of Puppy Mix can make up to six cupcakes.
The owner came on Shark Tank to request $50K for 25% equity in her company. She also brought her dog, Mini, to the show and demonstrated how much she likes the cake made from Puppy Cake. Let’s see if she got the deal or not.
Puppy Cake Net Worth Shark Tank Update
Kelly was looking for an investment of $50k in exchange for 25% equity in the company. At the time of the episode, she valued her company at $200k. Unfortunately, Kelly did not secure a deal with any of the sharks, so the company’s net worth stayed at $200k. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Puppy Cake in 2024 is around $4 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Kevin O’Leary
Out
N\A
N\A
Mark Cuban
Out
N\A
N\A
Robert Herjavec
Out
N\A
N\A
John Daymond
Out
N\A
N\A
Lori Greiner
Out
N\A
N\A
The Owner’s Backstory
Kelly Was in a sales and marketing forum, where one of her clients was into making cake mix for people. She was suddenly struck with the idea of making a cake mix for dogs too. Thus, she started to research it and formed Puppy Cake.
The product comes with a cake powder and yogurt frost to decorate the cake as per our pet’s liking.
Initial Pitch
The owner came on the show to seek $50K for a 25% equity stake. Kelly has introduced Puppy Cake by keeping in mind a dog’s digestive system. She made sure to add ingredients according to the liking and health of a pet dog. The consumers only need to add egg, oil, and water to bake the cake for their pets.
Queries about the Product
Herjavec asked the first question about why can’t a dog eat a regular cake like humans. Kelly highlighted that dogs have different digestive systems, so a regular cake is not for them.
Kevin then questioned regarding the company’s sales. She answered that the product was launched four years ago and she has made $80K in sales in that time span. Last year she made $23K in sales.
Lori asked about her medium for selling the product. The owner replied that she is an international brand and her product is in 150 retailers. She also added that she has done no advertising yet and her product has been featured in Dog Magazine and Bark Magazine too.
Kevin showed concern and highlighted that nobody bakes a cake for a dog. Kelly answered that actually 43% of dog owners celebrate their dog’s birthday according to the reports. Moreover, there are 70M households in the US and each one of them has at least one dog in it, so it can be a beneficial investment for the sharks.
Cuban asked if this was the case then why she had such low sales last year. She highlighted that the low sales are the result of low capital and connections. Moreover, she has not been to a single capital show to make connections with the distributor.
Herjavec then pointed out that she could call the distributors by herself. To this Kelly replied that she has in fact called them but she doesn’t get any return calls from them.
Lori then proposed to her that she could be her own salesperson and go to pet shops. The owner confirmed that sales are not her cup of tea.
Shark’s Response and Final Decision
Herjavec was the first shark out as being a pet owner himself, he does not want to buy such stuff for his dog.
Kevin followed Herjavec and advised Kelly to immediately drop the business herself too.
Lori also agreed with Kevin and highlighted that the product is too limited to be invested in. She then backed out too.
Cuban mentioned her very low sales for a four-year time span and decided to drop out of the deal as well.
Finally, Daymond also backed out of the deal for the same reasons. With this, Kelly’s Shark Tank journey came to an end.
Product’s Availability
Even though she got no deal on the show, she is still in the market with her expanded company. Kelly’s company now sells a variety of dog products, like ice cream and microwavable cake cups. You can check out everything she offers on the Puppy Cake website or on Amazon. Plus, Puppy Cake products are available in many independent pet stores and groomers nationwide. Her yearly revenue now amounts to $1M, which is very impressive.
Conclusion
Despite not securing any deal with the sharks, Puppy Cake still survived in the wider market. In fact, Kelly’s positive outlook helped her to expand her business even more, resulting in $1M in annual revenue.
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.
