|SEASON 12 EPISODE 3|
|Pitch||rechargeable robotic lure|
|Entrepreneur||Sobhan Kanaee and Kanz Kayfan|
|Asked For||$325,000 for 10%|
|Deal||$325,000 for 10% + royalty of $3 per unit until $1 million is repaid|
What is Animated Lure?
Animated Lure is a patented mechanized fishing lure that simplifies fishing. It comes in a variety of sizes including mini, classic, and saltwater. It is electronically programmed to move like a real fish, having a small propeller and a choice of different skins to mimic specific bait fish.
Who Owns Animated Lure?
Co-founder Kanz Kayfan has a Bachelor of Arts in Psychology from the University of Texas at Austin and obtained a Master of Science in Mental Health Counseling from Texas A&M University, Corpus Christi.
He is currently a licensed professional counselor and the Program Administrator for Diversion Services at Collin County MHMR. Sobhan Sanaee graduated from Plano ISD high school in 2007.
Kayfan and his father were avid fishermen in his youth. It was his father’s sorrowful comment one day, wishing the other siblings would accompany them on their fishing trips, that gave him the early nudge for the idea.
The boredom from long waits between catches were the reason for his siblings’ disinterest in the sport, and this inspired him as an adult to develop a product that would allow people of all ages and skill levels to experience his passion.
His goal was to give families the opportunity to get excited about and enjoy fishing together.
What Happened After Shark Tank Update
Did Animated Lure Get a Deal on Shark Tank
On Shark Tank Season 12 Episode 3, Sobhan Kanaee and Kanz Kayfan entered the Shark Tank seeking $325,000 for 10% of their robotic fishing lure, Animated Lure.
They accepted an offer from Kevin O’Leary of $325,000 for 10% plus a royalty of $3 per unit until $1 million is repaid.
Is Animated Lure Still in Business?
Animated Lure was already reasonably bankable when they appeared on Shark Tank after launching a successful Kickstarter program and having an estimated worth of 3 million dollars.
Currently, Animated Lure is being sold through their website and at a handful of sporting goods retailers. Their current annual revenue is listed as being between 100,000 and 5 million, and as of writing has up to 25 employees.