What is the latest update on Animated Lure after its appearance on Shark Tank Season 12? Animated Lure, a rechargeable robotic fishing lure, successfully secured an investment of $325,000 for 10% equity plus a $3 royalty per unit until $1 million is repaid from Kevin O’Leary on Shark Tank Season 12. The company continues to innovate in the fishing industry with its unique product.
Summary
- Animated Lure, a rechargeable robotic fishing lure, appeared on Shark Tank Season 12.
- The company sought $325,000 for 10% equity.
- Kevin O’Leary invested $325,000 for 10% equity plus a $3 royalty per unit until $1 million is repaid
- The company continues to grow and innovate in the fishing industry.
Animated Lure Shark Tank Update | Shark Tank Season 12
What is Animated Lure?
Animated Lure is a groundbreaking innovation in the world of fishing – a rechargeable, robotic lure designed to mimic the lifelike movements of baitfish.
This ingenious device eliminates the need for live bait, offering anglers a convenient, humane, and effective way to attract a wider variety of fish.
The Problem it Solves for Anglers
Traditional fishing often relies on live bait, which can be messy, inconvenient, and sometimes ethically questionable. Moreover, live bait limits anglers to targeting specific fish species. Animated Lure tackles these challenges head-on.
Its realistic movements and vibrant colors entice a broader range of fish, while its rechargeable battery eliminates the constant need for fresh bait. This makes fishing more accessible, enjoyable, and successful for anglers of all levels.
Shark Tank Season 12 Appearance
1. The Pitch
| Entrepreneurs | Kourtney and Bill Russell |
|---|---|
| Business | Animated Lure |
| Ask | $325,000 for 10% equity |
| Deal | $325,000 for 10% equity + $3 royalty per unit until $1 million is repaid |
| Sharks | Kevin O’Leary |
| Season | Shark Tank USA Season 12 |
| Original Air Date | March 19, 2021 |
| Website | Animated Lure |
| Key Points of Pitch |
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| Why Sharks Accepted |
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2. The Sharks’ Reactions
The Sharks were intrigued by Animated Lure’s unique concept and its potential to disrupt the fishing industry. They were impressed by the entrepreneurs’ passion and the product’s early sales success.
However, some Sharks expressed concerns about the product’s price point and the potential challenges of scaling production.
3. The Deal
Kevin O’Leary, recognizing the potential of Animated Lure, offered $325,000 for 10% equity, along with a $3 royalty per unit until $1 million is repaid.
This deal provided the entrepreneurs with the capital they needed to expand their business while ensuring O’Leary a return on his investment.
Animated Lure Update
1. Company Growth & Expansion
Since their successful Shark Tank appearance, Animated Lure has experienced significant growth.
The investment from Kevin O’Leary has fueled their expansion efforts, allowing them to increase production capacity, expand their distribution network, and reach a wider audience of anglers.
The company has also expanded its team, bringing on board talented professionals to support their growth trajectory.
2. Product Development & Innovation
Animated Lure remains committed to innovation, constantly seeking ways to improve and enhance their product line.
They actively gather feedback from their customers, incorporating their suggestions into future product iterations.
The company is also exploring new technologies and materials to develop even more realistic and effective lures.
3. Sales & Customer Feedback
Animated Lure has seen a surge in sales following their Shark Tank appearance. Their product has resonated with anglers worldwide, who appreciate its convenience, effectiveness, and ethical approach to fishing.
Customer feedback has been overwhelmingly positive, with many anglers reporting increased catches and a more enjoyable fishing experience.
The company actively engages with its customers through social media and online forums, fostering a community of passionate anglers who share their experiences and successes with Animated Lure. This strong customer relationship further reinforces the brand’s reputation and drives continued growth.
The Future of Animated Lure
1. Upcoming Plans & Goals
Animated Lure has ambitious plans for the future. The company aims to solidify its position as a leader in the fishing tackle industry, expanding its product line to cater to various fishing styles and target species.
They are also exploring international markets, aiming to bring their innovative lures to anglers around the globe.
Beyond product expansion, Animated Lure is committed to sustainability and environmental responsibility. They are actively researching eco-friendly materials and production processes to minimize their impact on the planet.
The company also plans to launch educational initiatives to promote responsible fishing practices and conservation efforts.
2. Potential Challenges & Opportunities
While the future looks bright for Animated Lure, they are not without challenges. The fishing tackle market is highly competitive, and they will need to continue innovating and adapting to stay ahead of the curve. Additionally, expanding into new markets will require careful planning and execution.
However, Animated Lure is well-positioned to capitalize on the growing trend towards sustainable and ethical fishing practices.
Their commitment to innovation and customer satisfaction, coupled with their strong brand reputation, sets them apart in the industry.
With continued dedication and strategic planning, Animated Lure has the potential to revolutionize the way people fish and contribute to a healthier aquatic ecosystem.
FAQs
How does Animated Lure work?
Animated Lure utilizes a rechargeable battery and a built-in motor to create lifelike swimming motions, mimicking the behavior of baitfish. Its vibrant colors and realistic movements attract a wide variety of fish, increasing your chances of a successful catch.
Where can I purchase Animated Lure?
Animated Lure is available for purchase on their official website and through select online retailers. You can also find them at some local fishing tackle shops.
What is the battery life of Animated Lure?
The battery life of Animated Lure varies depending on the model and usage. However, most models offer several hours of continuous use on a single charge, ensuring you have ample time to enjoy your fishing trip.
Is Animated Lure suitable for all types of fishing?
Animated Lure is versatile and effective in various fishing environments, including freshwater and saltwater. However, it’s essential to choose the right lure size and color based on the target species and water conditions.
What is the company’s return & refund policy?
Animated Lure offers a satisfaction guarantee, allowing customers to return their product within a specified period for a full refund if they are not completely satisfied.
The Bottom Line
Animated Lure represents a significant advancement in fishing technology. Its innovative design, effectiveness, and commitment to sustainability make it a valuable tool for anglers of all levels. By eliminating the need for live bait and attracting a wider range of fish, Animated Lure enhances the fishing experience while promoting responsible fishing practices.
As Animated Lure continues to grow and innovate, it is poised to make a lasting impact on the fishing industry. Whether you’re a seasoned angler or just starting out, Animated Lure offers a convenient, effective, and ethical way to enjoy the thrill of the catch.
