Shed Defender was officially launched in October 2016 by two brothers, Tyson and Miles Walters. This company makes and sells dog onesies that ensure that your dog does not shed. They also sell other pet products that were added later on.
The founders appeared on the 10th season of the Shark Tank show hoping to secure a deal of at least $250,000 in exchange for 10% equity in the company. The business is estimated to have a net worth of around $4.1 million in 2022. They managed to walk away with a deal. But, where are they now?
Shed Defender is known to have sold the first dog onesie of its kind. This product looks like a dog leotard that keeps hair from shedding all over your rugs, furniture, and car. The onesie is designed so that all hair remains inside it and you can eventually wash it out whenever.
Notably, the Shed Defender has other benefits too. Based on studies, some dogs benefit from mild compression. It enables them to feel quite secure and it can also replace the ‘cone of shame’ that some of the dogs have to wear after surgery.
You can watch this Youtube Video to learn more about the product.
How Was The Shed Defender Launched?
In 2011, Tyson Walters came up with the idea for a product that resembled Shed Defender when he struggled to find a viable solution to the uncontrollable shedding of his dog, Harley. Then, Tyson’s mum sewed together the prototype of the Shed Defender onesie.
That onesie was later perfected by Tyson when he tested a variety of fabrics and designs before he settled on the stretchy, zip-up onesie design. In October 2016, the company came to life.
What Happened At Shark Tank?
Tyson and Myles Walters went to the Shark Tank and brought in Tyson’s Saint Benard, Harley, with them to showcase their product. They came looking for $250,000 in exchange for 10% equity in their business. After presenting their pitch, the sharks asked for numbers and the team told them that in the first 18 months, they had done $1.2 million in sales.
The firm never had a patent at the time so the Sharks were a bit concerned. After all of that, Lori Greiner offered them a deal of $250,000 for 25% equity in the company and they accepted it.
Where Is The Company Today?
After their appearance on the Shark Tank show, their sales exploded. They became highly successful and even included their line of products to include a “Shed Defender: Sport” and “Winter Fleece.” Since 2018, the firm has reported that its sales have exceeded $700,000 every month.