'Shark Tank' offers a life-changing deal to founders who came up with an innovative pet product

Investors on "Shark Tank" may be impressed by an innovative product or creative pitch, but they make it difficult for them to clinch a deal during negotiations. Only a few have managed to come up with something so good that sharks fought each other to seal the deal, and one of those companies is the "Shed Defender." The founders of the company, Myles and Tyson Walters, impressed the panel with their innovative onezies for dogs, and they even made Kevin O'Leary, Robert Herjavec, and Lori Greiner fight to get a piece of it. In the end, they happily secured a solid investment to continue their growth. 

In the episode, the two brothers walked in and asked for $250,000 for 25% of their company. In their pitch, they claimed that the most common pain point for all dog owners is the way they shed hair. To demonstrate it, Myles wore a t-shirt that was laced with dog hair. Thus, to solve the issue, the brothers came up with a product that would hold all the hair. Introducing the Shed Defender, they called in their beloved dog, Harley, a Saint Bernard who was wearing a fashionable onesie. They explained that the Shed Defender is made from a lightweight, breathable, and eco-friendly fabric that is safe, natural, and vet-approved. Tyson also claimed that, apart from keeping hair off the furniture, it helps calm anxious dogs and replaces the cone that dogs have to wear after surgery.

Despite losing their utility patent, most Sharks thought the brothers had the potential to succeed. However, Cuban and Barbara Corcoran dropped out early as they had little experience with pet products. Nevertheless, after Myles projected $2.5 million in sales over the next two years, the offers started coming in. 

O’Leary made the first move by making an offer of $250,000 for 33.3% equity, and said that he was convinced that the company would do well, but he needed a little more to be interested. Robert Herjavec then jumped in to make the same offer, arguing that he was a better Shark than O'Leary. "I'm a much better Shark in this deal than Kevin. He hates animals," Herjavec alleged. O'Leary dismissed the allegation and said, "I want you to know that I actually speak dog. I know exactly what you need."

As the two squabbled, Greiner jumped in to make an offer as well. She said she believed the product would do well on TV and put up $250,000 for 28% equity. After some back and forth, the two brothers countered the offer with 25%. But Greiner needed a bit more to make that deal. "Tell me three things about that make you fantastic as a partner!" Greiner asked. Myles answered the question with "I work non-stop," "When I put my mind to something, I get it done," and "I'm kind of funny," which was enough for Greiner to make a deal.

After its appearance on "Shark Tank," Shed Defender continued to grow, and it is still going strong today. As per their official website, the company now sells several products apart from the onesie, including vitamin supplement chews and leashes.

The company also makes charitable donations to nonprofit organizations through its "Paw it Forward" program.