Lori Greiner was ready to offer a deal to 'Shark Tank' contestants — she just had one question

“Shark Tank” is where entrepreneurial dreams come true thanks to access to funding from celebrity investors, as long as founders are able to impress them with a creative pitch and sales figures. However, on an earlier episode of the show, Lori Greiner asked a couple of entrepreneurs to explain why they’d be great partners to her before offering them a fantastic deal.

The entrepreneurs were Tyson and Myles Walters, and they were asking for $250,000 for 10% of their business, Shed Defender. The company makes breathable outfits for dogs that prevent their hair from falling around when they shed it. Greiner had initially said she’d pay the money for 28%, but when the entrepreneurs asked her to go down to 25%, the celebrity investor said, “Tell me three things about you that make you fantastic as a partner.”

“Okay, I work non-stop. I work every single day. Two, when I put my mind to something, I get it done. Three, I feel like I’m kind of funny, so I might make you laugh,” Tyson said. Grenier wanted a bit more from the two of them. “Do you know the word ‘no’?” she asked. “Doesn’t exist,” said Mike. That was enough for the shark, and a deal was struck right there.

Greiner wasn’t the only shark interested in the product. Kevin O’Leary and Robert Herjavec made the same offer of $250,000 for 33% of the business. The latter believed that he would be a better shark in the pet care industry than Mr. Wonderful. Mark Cuban didn’t offer a deal since he didn’t believe he was the right man for the industry, and Barbara Corcoran didn’t believe in the product as much as the others.

The entrepreneurs did a great job with the pitch, bringing in an actual dog to showcase the effectiveness of their product. Haerjavec couldn’t help himself, and he rushed over to the dog to give them some pets. What was more impressive than their pitch was their sales. In just 18 months, the company had completed sales of $1.2 million. The margin of profit was more than 80%.

Numbers matter a lot on “Shark Tank,” and these figures impressed most of them. As per a report in Looper, the company is still going strong and has released several dog-related products like leashes and chewable vitamin supplements. Greiner isn’t the only celebrity associated with the company. In a post on Instagram, they claimed that Ben Affleck and Ana De Armas were also users of Shed Defender products.

“Shark Tank” truly helped the business scale new heights. Shed Defender has several charitable donations to nonprofit organizations through its "Paw it Forward" program. As of May 16, 2022, the company has also donated over 100 of its breathable fabrics, that was pitched on the show, to a number of animal rescues.