Animated Lure Shark Tank Net Worth 2023 | Animated Lure Shark Tank Updates

Animated Lure Net Worth

The net worth of Animated Lure is $0.5 million. However, the company’s social media handle has not been active since November 26, 2021. The stock of Animated Lure’s products is available on both its website and Amazon as of November 2022. The sale of Animated Lure’s product is increasing, and slowly everything is going well.

Animated Lure was founded by Sobhan Sanaee and Kanz Kayfan. They appeared on Shark Tank with an offer of $325,000 for a 10% stake in their firm, implying a $3.25 million valuation. The net worth of Animated Lure is somewhere around $3.2 million, $4.5 million as of 2022, or $5 million as of 2023.

Animated Lure is a rechargeable fishing lure that attracts fish better than a normal lure. It is shaped and designed like an actual fish to attract fish around it. It starts swimming like a normal fish when dropped into the water and comes in three different sizes: tiny, classic, and saltwater.

What is Animated Lure and Who Founded Animated Lure?

Animated Lure is a unique fishing lure that has been patented to make fishing easier and more enjoyable. It comes in three sizes suitable for different fishing types, and its electric design is intended to mimic the movements of real fish using a tiny propeller and various skins that simulate different types of baitfish.

The idea for Animated Lure came to Kanz Kayfan when he was on a fishing trip with his father, and his father expressed his desire for his siblings to join them but lacked the patience required for fishing.

Kanz realized that the lack of patience and the desire for fast results were two of the primary reasons that younger generations did not take up fishing as a hobby.

The Animated Lure team combined cutting-edge technology with the time-honored tradition of fishing to create a lure that incorporates both entertainment and the most effective method of attracting a fish.

They researched various bait and lure designs and ultimately constructed a lifelike bait that resembles a real fish, with its realistic swim patterns, appearance, sound, and vibration.

The co-founders of Animated Lure are Sobhan Sanaee and Kanz Kayfan. Their goal is to reignite the passion for fishing as a pastime and to help families create lasting experiences by making fishing easier and more enjoyable.

Animated Lure Shark Tank Pitch

After a successful Kickstarter campaign in December 2015, raising $22,041, Animated Lure manufactured and delivered its product in about two years. The lures come in three different sizes with various skins that simulate different baitfish.

The lures have a realistic swimming motion and sound to entice fish to bite. The mini lure costs $29.95, the classic lure costs $32.95 or $34.95 depending on the skin, and the saltwater lure costs $79.95 due to the bigger battery and corrosion-resistant structure.

The company uses a small propeller to move the bait, and the segmented body mimics the swimming motion of real fish. Each lure comes with a USB charger and a spare propeller.

The founders of Animated Lure, Kanz, and Sobhan, appeared on Shark Tank, offering a 10% stake in their company for $325,000, implying a $3.25 million valuation.

During their pitch, they demonstrated the product’s capabilities and expressed interest in gaining access to large box athletic goods shops. The company had made $247,000 in sales that year.

Robert was impressed but chose not to invest. Daymond inquired about their valuation and then left. Kevin made two offers, the first being $325,000 for a 10% stake in the firm and a $3 royalty on each unit sold until he recouped $1 million.

The second offer was $500,000 in exchange for 20%. The founders accepted the first offer, but Kevin’s deal was never finalized.

Since the show’s premiere in October 2020, several knockoff products have flooded Amazon. Despite the competition, the company continues to operate as of July 2021, selling its product directly to consumers.

Table Summary: Animated Lure Shark Tank

INFORMATION	DETAILS
Company Name	Animated Lure
Founder(s)	Sobhan Sanaee and Kanz Kayfan
Product	A rechargeable fishing lure that attracts fish better than a normal lure, designed like a real fish with realistic swim patterns, appearance, sound, and vibration
Shark Tank Pitch	Offered $325,000 for a 10% stake in the company, implying a $3.25 million valuation.
Shark Tank Outcome	Kevin offered $325,000 for a 10% stake and a $3 royalty on each unit sold until he recouped $1 million, but the deal was not finalized.
Net Worth	$0.5 million (as of May 2023), $3.2 million (as of Shark Tank pitch), $4.5 million (as of 2022), or $5 million (as of 2023)
Competitors	None
Updates	The company’s social media handle has not been active since November 26, 2021. The stock of Animated Lure’s products is available on both its website and Amazon as of November 2022. The sale of Animated Lure’s product is increasing, and slowly everything is going well.

Animated Lure Net Worth

Kanz and Sobhan approach the Shark Tank with an offer of $325,000 for a 10% stake in their firm, implying $3.25 million valuation.

Animated Lure Competitors.

There is no Competitor for Animated Lure.

Animated Lure Shark Tank Updates

Animated Lure is a rechargeable, robotic fishing lure that appeared on Shark Tank in Season 12 Episode 3. The founders, Kanz Kayfan and Sobhan Sanaee, asked for $325,000 in exchange for 10% equity. The Sharks did not invest in the company, but Animated Lure is still in business as of November 2022.

The product is designed to attract fish better than a normal lure by swimming like a real fish when dropped into the water. It comes in three different varieties, with battery lives ranging from 45 minutes to 1 hour and 30 minutes.

According to the owners, Animated Lure has an estimated net worth of $3,250,000 in 2022. In 2020, they sold approximately $247,000 worth of products, and in 2021, they projected $500,000 in sales.

The fishing equipment market was valued at $13,481.1 million in 2019, and it is projected to reach $16,107.8 million by 2027.

However, some customers have reported that the product does not work properly. Despite this, Animated Lure is still in business and has achieved a significant net worth since appearing on Shark Tank.

Animated Lure FAQS

What Is Animated Lure And How Does It Work?

Animated Lure is a mechanized, self-propelling fishing lure that is electronically programmed to swim like a real fish. It is a battery-powered, rechargeable lure that has an electric propeller on its nose which allows it to move completely on its own.

The lure is designed to mimic the life-like swimming patterns of a real fish, making it more attractive to other fish. The lure comes in three different sizes and over 45 different skins to cater to different fishing needs.

To use the Animated Lure, one needs to follow the instructions for charging the lure. Once charged, the lure can be cast into the water like a regular fishing lure. The lure starts to work after several seconds once it hits the water and swims in a circular path, stopping every few seconds.

The movement of the Animated Lure is the most important thing, and all the different styles of Animated Lures move in the same way. The Animated Lure is an innovative product that can increase the likelihood of catching fish.

What Was The Outcome Of The Animated Lure Shark Tank Pitch?

Animated Lure appeared on Shark Tank Season 12 Episode 3, where the founders Kanz Kayfan and Sobhan Sanaee pitched their company to the Sharks. They offered $325,000 in exchange for a 10% stake in the company, and Mr. Wonderful made a deal with them.

The Animated Lure is an electronically programmed self-swimming fishing lure that mimics the swimming patterns of a real fish. The company is still in business as of November 2022.

What Happened To Animated Lure After Its Appearance At The Shark Tank?

After appearing on Shark Tank, Animated Lure is still in business as of March 2022 and November 2022. The company received an investment of $325,000 in exchange for a 10% equity from Kevin O’Leary.

The product is a rechargeable, robotic fishing lure that mimics the movements of a real fish, and it is designed to look like a real fish swimming in the water.

The founders of Animated Lure, Kanz Kayfan and Sobhan Sanaee, impressed the Sharks with their large profit margins per unit, sharing that each lure retailed for $29.95-$79.95 and only cost them $8-16 to make.

The company has gained popularity among anglers, and it is unique because it is designed to swim realistically and can make sounds that attract fish.

How does Animated Lure turn on and off?

After being completely submerged in water for one second, Animated Lure will begin swimming in the life-like pattern of a genuine fish.

When the Animated Lure is removed from the water, it automatically shuts off.

How long is Animated Lure capable of swimming?

The Salt Water variant is capable of swimming for up to 2.5 hours, depending on the water conditions.

The Classic model is capable of swimming for up to 1.5 hours continuously, depending on the water conditions.

The Mini model is capable of swimming for 45 to 60 minutes, depending on the water conditions.

How does Animated Lure get charged?

Always properly dry the Animated Lure before charging.

Ascertain that Animated Lure is charging in a secure location and disconnect the USB after it is finished charging.

Connect the red wire clip to the ring protruding from the fish’s head’s crown, and the black wire clip to the ring protruding directly from the fish’s head’s bottom (not the ring used to connect to the fishing hook).

Once Animated Lure begins charging, a blue light in its head will illuminate. This signifies the start of the charging process.

Once the Animated Lure is completely charged, the blue light will turn off.

When the USB is inserted into an adapter or device, the positive (red) and negative (black) alligator clips should never come into touch with one another.

How long does it take for an Animated Lure to charge?

The Salt Water model may take anywhere from 1 to 1.5 hours per full charge cycle, the speed will depend on the adapter that is used.

The Classic model may take anywhere from 45 minutes to 1 hour per full charge cycle, the speed will depend on the adapter that is used.

The Mini Model may take anywhere from 30 to 45 minutes per full charge cycle, the speed will depend on the adapter that is used.

They always recommend charging in a safe area and using power protectors.

How big Animated Lure is and how much does it weigh?

The Salt Water model is 8.8 inches (22.35 cm) and weighs 5.2 ounces (147.42 grams).

The Classic model is 5.25 inches (13.34 cm) and weighs 1.7 ounces (48.19 grams).

The Mini model is 2.5 inches (6.35 cm) and weighs .25 ounces (7 grams).

How strong is Animated Lure?

The Salt Water model hinge strength is up to 100 pounds (45 kg) max.

The Classic model hinge strength is up to 45 pounds (20 kg) max.

The Mini model hinge strength is up to 33 pounds (15kg) max.

How to maintain Animated Lure?

Always dry Animated Lure when you have finished using it and keep stored in climate controlled setting.

Please always check for any worn parts, loose connections, or cracks in the structure.

The propeller and the hinges should be able to rotate and move freely.

How deep can Animated Lure go?

They have tested and recommend that the Salt Water model go no deeper than 25 meters (82 feet) deep.

They have tested and recommend that the Classic model go no deeper than 10 meters (32 feet) deep.

They have tested and recommend that the Mini model go no deeper than 10 meters (32 feet) deep.

Did animated lure get a deal on Shark Tank?

On October 30, 2020, Animated Lure made its Shark Tank debut.

Sobhan Sanaee and Kanz Kayfan struck a $325,000 arrangement with Kevin O’Leary in exchange for 10% stock and a $3 royalty until $1 million is repaid.

Are animated lures real?

The Animated Lure is one of the most unique and unusual fishing lures available today.

It features a split tail that provides excellent motion as the lure propels itself forward utilizing the nose propeller.

How does Animated Lure work?

In general, an animated fishing lure is a swimbait that has been designed electronically to replicate the swim patterns of live bait.

That is, to entice a fish to bite it.

What is the net worth of Sobhan Sanaee?

There is no update about his worth.

What is the net worth of Kanz Kayfan?

There is no update about his net worth