Welcome to the thrilling world of Shark Tank, where entrepreneurs battle it out for a chance to strike a deal with some of the biggest names in business. In this post, we’re diving into the ultimate showdown brought to us by CitiKitty as they pitch their innovative product to the sharks. Brace yourself for an exciting journey as we explore the highs and lows of this intense encounter and discover what CitiKitty had to offer that made the sharks bite.
On a recent episode of Shark Tank, CitiKitty presented its innovative product to the Sharks. The product is aimed at solving the age-old problem of cleaning up after cats. CitiKitty is a solution that teaches cats to use a toilet instead of a litter box. With over 40,000 units sold online alone and $1.4 million in revenue, CitiKitty is looking for a strategic partner to help bring their product to mass retail. In this article, we will take a look at the Shark Tank episode that highlighted this revolutionary product and the investors who expressed interest in partnering with CitiKitty.
Pitching CitiKitty on Shark Tank
Rebecca Roscotti, the founder of the product, presented CitiKitty to the Sharks on the show. With the Sharks being known for their potential investments in new and innovative companies, CitiKitty certainly piqued their interest.
City Kitty Product Overview
The product is a kit that helps cat owners train their feline friends to use the toilet instead of a litter box. The kit includes a special seat that fits over the toilet and a series of inserts that gradually reduce the amount of litter a cat is using until they are comfortable using the toilet on their own. Once trained, there is no need to clean up after the cat, eliminating the need for a litter box altogether.
Financials and Investment
CitiKitty has already sold 40,000 units online alone, with a cost per unit of $4.76 and a retail price of $29.99. With revenue of $1.4 million, CitiKitty is seeking a $100,000 investment in exchange for 15% equity in the company.
The offer from Sharks
Kevin O’Leary was the first Shark to make an offer to invest in CitiKitty. He offered $100,000 for 40% of the company. The other sharks, however, urged Roscotti to wait and see if any better offers emerged. Lori Greiner was also impressed with the product and offered to put it on her TV show, which could help propel the company’s growth even further.
Finding the Best Investor
Roscotti expressed her desire to find the best strategic partner to help bring the product to mass retail, leaving the door open for other investors to make their pitch. Ultimately, the episode ended without Roscotti accepting any of the Sharks’ offers.
If you are considering investing in CitiKitty or just want to learn more about the company and its innovative product, read on for answers to some of the most frequently asked questions about CitiKitty.
Q: How does CitiKitty work?
A: CitiKitty is a training kit that includes a special seat that fits over the toilet and a series of inserts that gradually reduce the amount of litter a cat is using until they are comfortable using the toilet on their own.
Q: What is the cost of CitiKitty?
A: The cost per unit of CitiKitty is $4.76 and the retail price is $29.99.
Q: How much revenue has CitiKitty generated?
A: CitiKitty has generated $1.4 million in revenue.
Q: What were the Shark Tank offers made to CitiKitty?
A: Kevin O’Leary offered $100,000 for 40% of the company. Lori Greiner offered to put the product on her TV show.
Q: Did CitiKitty accept any Shark Tank offers?
A: No, CitiKitty did not accept any of the offers from the Sharks on the show. The company is still seeking a strategic partner to help bring the product to mass retail.
CitiKitty’s innovative solution to the age-old problem of cleaning up after cats caught the attention of the Sharks on Shark Tank. With over 40,000 units sold online alone and $1.4 million in revenue, CitiKitty is seeking a strong strategic partner to help bring the product to mass retail. While the Sharks expressed interest in investing in the company, CitiKitty is still waiting to find the best partner to help take the company to the next level. Regardless of the outcome, CitiKitty’s product is a game-changer for cat owners.