SiliDog Shark Tank Update

Silidog is a company that makes and distributes silicon-based identification tags for dogs, cats, and other types of pets is among those under discussion. As part of Season 8, episode 06, Silidog’s owners presented their company on Shark Tank.

The Silidog tags are unique compared to other metal products because they do not make a jingling noise when they move or scratch themselves. The Silidog tags aren’t just quiet; they’re also big and easy to see, and some models even glow at night. Tags’ text never fades, unlike other tags’ printing, which can fade from wear and tear or exposure to sunlight.

In 2014, Mikey Lickstein founded the company after noticing the metal tags on his rescue dog Bentley jingled whenever he scratched his skin at night. Bentley inspired Mikey Lickstein to produce the products.

Silidog’s products were already being sold in thirty different shops, veterinarian offices, and animal shelters by the time it appeared on “Shark Tank,” and the company had already run a successful Kickstarter campaign.

What is Silidog?

Silidog Tags is a series of colorful and personalized dog tags constructed of silicone, so tags won’t jingle when a dog moves – a major annoyance when a dog has fleas!

Silidog tags are composed of resilient silicone and can withstand rough play and other canine adventures. The material can be twisted, stretched, bent, glows in the dark, and is silent.

SiliDog tags are also more durable than conventional metal tags. Metal tags fade in color, become scraped and dinged from use, and the wording becomes difficult to read after a few years. Silidog tags never fade and are resistant to salt water, UV rays, mud, and anything else your dog may encounter.

SiliDog is a company that manufactures one-of-a-kind dog tags. Each tag is made from soundproof, waterproof silicone that will never fade. They are also available in various colorful hues, from bright pinks to dark greens and blues.

You may personalize this beautiful Silidog with a short message that celebrates your dog’s personality and flair. You may print it directly onto the tag to be visible to everyone.

SiliDog Shark Tank Update
Company NameSiliDog
EntrepreneurMikey Lickstein
Product / BusinessPet ID tags made of silent silicone that can be customized
Investment Asking For$100,000 for 15% equity in SiliDog
Final Deal$100,000 for 15% equity + $0.50 per unit royalty in SiliDog
SharkLori Greiner
Episode Season 8, Episode 5
Business StatusIn Business
WebsiteVisit Website

Who is the Founder of Silidog?

Mikey Lickstein is the founder of Silidog. SiliDog’s CEO and creator, 18-year-old Mike Lickstein, pitches the Sharks his quiet pet identification tags in Season 8 Episode 5. While fostering dogs from a local animal shelter, Mike became inspired.

One of the malnourished dogs he had rescued was incessantly clawing throughout the night. Mike was constantly awakened by the jiggling of the dog’s ID tag.

It was discovered that a soft dog tag would eliminate the dog’s scratching and playing noises and rattling on the water and food dishes. It is a bothersome and distracting annoyance for both humans and dogs.

He recognized a business opportunity when he needed help locating the goods in stores or online. Mike introduced his product on Kickstarter, where 247 backers contributed approximately $11,000.

Silidog Before Shark Tank

Mikey Lickstein, the founder of Silidog, adopted a rescue dog named Bentley while attending the University of Florida. Mikey was kept awake by the constant jingling of Bentley’s tag since Bentley had been mistreated and clawed himself constantly. As a result, Mikey designed a pet tag that is robust, long-lasting, and, most importantly, totally silent.

Mikey created the Silidog silicone dog tag in 2015 with the help of Kickstarter and raised more than $11,000 from more than 250 supporters. He created a pet tag that never fades, lasts longer than other pet tags, and doesn’t make a sound when struck by metal or plastic.

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As a result, Mikey was able to post Silidog tags at 200 small pet businesses, most of which were family-run. Mikey, however, decided to join Shark Tank to gain the assistance of a shark partner to expand his business after earning his master’s degree in management.

When he made tags in his garage one night before the wee hours, he attended an open casting event in Miami and found out he was selected. In October 2016, he exhibited his piece for the first time.

Silidog Shark Tank Recap

Mikey Lickstein appeared on Shark Tank requesting an investment of $100,000 in exchange for a 15% equity in SiliDog. Mikey established SiliDog in 2014. Mikey could not sleep due to his rescue dog’s constant scratching, which prompted him to come up with the concept. To address this issue, he developed a solution that would induce no noise while the dog scratched, walked, or ate. This led to the creation of SiliDog.

Mikey raised $11,000 from nearly 250 backers on Kickstarter. Mikey realized that a silent pet tag alone wouldn’t be enough to market his product; it also needed to be sturdy and attractive.

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Simultaneously, Mikey produced the first batch of glow-in-the-dark and fade-resistant SiliDog tags. When pursuing his master’s degree in business administration, Mikey placed SiliDog tags in 200 pet stores run by family-owned businesses.

Mikey’s profit margin amazed the prominent businessmen upon entering Shark Tank with Bentley. The cost of creating and shipping each tag was $2.99, but after customers ordered, he sold them for $19.99 with free shipping.

Mikey created SiliDog from scratch, making $142,000 in sales in 14 months, mostly through trade exhibitions. Mikey also stated that his pre-sale costs were practically nil, even though he was already in many brick-and-mortar retailers. He only shipped “beginning packs” to businesses where customers could taste the product and pay in advance.

Mikey was doing well, so the sharks began to wonder why he was in the tank. He was still producing tags by hand and needed more capital to expand his business from producing approximately a hundred daily units to producing thousands.

Robert was the first to propose, offering Mikey $50,000 for a fifty percent stake in the company. Lori then presented her pitch, requesting 51 percent of the business so that she could remain in control. After Mikey counteroffered Lori with 25% shares, Lori declined. Mikey was unenthusiastic.

Even though all sharks were theoretically eliminated then, an unforeseen bidding war broke out among them. Barbara was the first to re-enter the figurative ring and offer $100,000 in debt.

In exchange, Barbara would receive 30% equity, and $2 royalties on each tag sold until the debt was fully repaid. Barbara immediately matched Kevin’s $1 per tag royalty offer, the resident royalty king on Shark Tank.

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Kevin then lowered his royalty request to 75 cents per tag, and Lori followed suit with a 50-cent offer before Robert undercut everyone by matching the other sharks’ equity requests and reducing the royalty rate to 25 cents.

Mikey agreed to Lori’s $100,000 offer for 30% plus $0.50 per unit after deliberating for a few moments.

Final Deal: Lori Greiner agreed to invest $100,000 for a 30% stake + $.50 royalty per unit in SiliDog.

What Happened To Silidog After Shark Tank?

SiliDog’s business gained tremendous momentum due to Shark Tank and the deal, and they were inundated with new orders. Mikey could not fulfill orders quickly, resulting in negative orders. But the difficult period could not endure since Mikey responded admirably by increasing his production to meet demand.

The remarkable success of SiliDog’s 56 items on the market. SiliDog also has its webpage for online sales and is available on Amazon.

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Silidog Shark Tank Update

Mikey Lickstein triggered a startling and rare change of heart among the sharks and departed the tank with a favorable deal from Lori Greiner, but the Silidog business has not fared well in the year since the program initially aired, and the exact reasons for this are unknown.

Mikey received an avalanche of orders in the immediate aftermath of the show, which was far more than he could handle on his own. Silidog appeared online with several negative reviews around the same time after delivery issues were reported.

On Sitejabber, Silidog has a rating of 1.9 out of 5, with numerous complaints about delivery delays and an alarming number of complaints that the tags regularly break when attached to a pet’s collar.

SiliDog Shark Tank Update

However, the most current review on Sitejabber notes that many of these complaints date from the Shark Tank appearance and that the vast majority of issues Silidog encountered during that period of unprecedented demand have now been resolved.

In recent months, there have been several complaints concerning delivery timeframes and the quality of the tags. These bad remarks are not restricted to Sitejabber; they can be seen on many other websites where Silidog tags are discussed.

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Silidog’s silicone dog tags are no longer the only ones available to customers, and this multi-million dollar pet market segment is extremely competitive. The fierce rivalry might be responsible for at least some of the unfavorable internet evaluations of Silidog, and the positive reviews may need to be more reliable.

Mikey Lickstein’s business acumen landed him a deal with Lori and impressed the other sharks, and perhaps Lori saw much more than a dog tag business in the young Florida entrepreneur. However, the dog tag market is a fiercely contested battleground, and Mikey Lickstein and his new shark partner have yet to emerge victorious.

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Is Silidog Still In Business?

Yes, Silidog is still in business and doing great for itself. Mikey struggled to keep up with the volume of orders after an agreement with Lori was reached. Therefore, SiliDog received several negative reviews from dissatisfied customers for a while.

SiliDog was able to recover brilliantly, thankfully, because this stage did not continue long. SiliDog offers over one hundred other styles and colors from its initial offering of four classic tags. In addition, the company offers a new product called SiliCat Tags.

Mikey has inspired 53 employees for Silidog and $8.4 million in anticipated sales. This is a significant increase from his initial annual sales of under $142,000.

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What is the Net Worth of Silidog?

The valuation of Silidog was $666,667 when it appeared on Shark Tank. The net worth of SiliDog is above $5 million as of 2022. 

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