"I hope a dog eats that thing" - When Lori Greiner gave a golden ticket to Swift Paws in Shark Tank

In Shark Tank season 13 episode 21, entrepreneur Meghan Wolfgram pitched SwiftPaws, seeking $240,000 for 6% equity. The company sells motorized lure coursing equipment that creates chase games for dogs. Her pitch revealed manufacturing costs of $135 per unit with a retail price of $449.

By her Tank appearance, the company had generated $1.5 million in lifetime sales. After O'Leary critiqued the manufacturing process and declined to invest, Lori Greiner pulled out her Golden Ticket, offering the exact ask of $240,000 for 6%. O'Leary, who moments earlier suggested a manufacturing redesign, reacted to Greiner's golden ticket by stating:

"I hope a dog eats that thing."

The deal concluded successfully, leading to rapid business expansion.

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SwiftPaws secured Lori Grenier’s Golden Ticket on

Shark Tank

Wolfgram brought her dog, Piper, to Shark Tank for a live demonstration of SwiftPaws. The setup featured three pulleys with a line running through them and a flag attachment. When activated, the motorized system moved the flag rapidly, triggering Piper's natural chase instinct. Wolfgram explained how the product addressed pet exercise needs, stating that 50% of American dogs needed more physical activity.

By 2018, responding to market demand, she launched a home version through Kickstarter, raising $73,608. Later that year, she secured an additional $130,166 on IndieGoGo for an enhanced model featuring 750 feet of line and five pulleys.

During the financial discussion, O'Leary focused on the manufacturing costs versus retail price ratio. He questioned the sustainability of the price point in the consumer market. Daymond John followed with similar concerns about market accessibility at the $449 price tag.

Robert Herjavec suggested reducing the price to $199, which Wolfgram acknowledged as a potential strategy. Mark Cuban praised the product's development but stated he lacked the right expertise to add value to the business.

Shark Tank entrepreneur further shared data about her $500,000 funding round from private investors in May 2020, demonstrating existing market confidence in SwiftPaws.

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Golden ticket moment

After four Shark Tank investors stepped away, Lori Greiner reached into her jacket pocket. She pulled out her Golden Ticket, a special offering she reserves for one entrepreneur each season. Greiner stated:

“Meghan, everything that you have done, you made it yourself. You did everything you could to make this work and you understand business. Really, you're so impressive, and then the product, I think, is really phenomenal. And I think you can sell millions and millions of these. One time a year I do something - I give away my Golden Ticket.”

The Shark Tank investor continued:

“You know what? You really deserve it, and so I am offering you my Golden Ticket, which means that I give you what you came in asking for, which is the $240,000 for 6%."

The Golden Ticket represented more than standard funding. Greiner explained she saved this specific opportunity for businesses she strongly believed would succeed. Previous Golden Ticket recipients included Bug Bite Thing and Frywall, both achieving significant success after their Tank appearances.

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Post Shark Tank

As per Shark Tank Blog, the deal between Greiner and SwiftPaws closed rapidly compared to typical Shark Tank agreements. During the initial broadcast, SwiftPaws generated $100,000 in sales within 24 hours, marking 7% of the company's previous lifetime sales in a single day. The company sold out its entire inventory during this period.

At Wolfgram's watch party for the episode's premiere, she wore the Golden Ticket as a necklace while Greiner joined through a video call. The partnership led to quick expansion. SwiftPaws reached $1 million in revenue by the third quarter of 2022. The company broadened its product range with dog beds, bowls, and puzzle toys.

By 2024, SwiftPaws surpassed $2 million in post-show sales. The company maintains steady growth while working to make its products accessible to more pet owners. Greiner continues to support the brand, writing recommendations for industry awards and providing ongoing business guidance.

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Catch new episodes of Shark Tank on ABC network.