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CitiKitty is a product started by Rebecca Rescate from Yardley, Pennsylvania and was seeking $100,000 for 15% equity. CitiKitty lets you toilet train your cat so you can get rid of your litter box. CitiKitty is a special seat for the toilet that allows you to gradually train your cat on using the toilet.
It retails $29.99 and costs $4.74 to make in bulk order sizes of 10,000. She is doing $350,000 of sales this year and has been featured on CNN, Good Morning America and other media sources. She has sold $1.4 million of the item since inception. Robert Herjavec said it’s a business he cannot add value to and is a dog owner and this doesn’t fit with him. Kevin O’Leary also opted out as he hates cats.
Kevin Harrington offered $100,000 for 40% of the company and said he can put it on TV and then get it into stores. Daymond John opted out. Barbara Corcoran offered $100,000 for 15% if her friend who owns “As Seen on TV” likes it. So Kevin’s offer was for more equity but was guaranteed while Barbara’s offer was less equity but was risky as it was contingent on her NY partner liking the product.
Rebecca countered Harrington at 20% for $100,000. Harrington countered at 25% for $100,000. Barbara then dropped the contingency and offered her $100,000 for 15%. Rebecca got Harrington to agree to 20% for $100,000.
Check out how we analyzed Shark Tank investment data for seasons 1 and 2. We also highlighted that Mark Cuban has written the largest checks in season 2 and that Daymond John has invested the most money and that Barbara Corcoran has invested the most. And we’ve also discussed whether Shark Tank TV is realistic to the real world.