meowbox

Olivia Canlas and Francois Deschenes, from Vancouver, BC, asked for $150,000 for 15% of Meowbox, a monthly subscription box of toys and treats for cats delivered across Canada and the US. The box costs just under $20 to produce and sells for between $22.95 and $32.95, with 1,150 boxes shipped that month and year-to-date sales of $133,000, bringing total sales to $340,000 since launching about a year earlier. The company was growing about 10% per month, had a three-year goal of 75,000 subscribers, had no marketing spend and no inventory carrying costs, and was in early talks with BarkBox about a partnership to receive cat leads in exchange for commission.

Michael Wekerle offered $150,000 for 30%, and Manjit Minhas matched that offer at $150,000 for 30%, saying the valuation was too high for a smaller stake. Jim Treliving went out because he is not a cat person. Michele Romanow offered $150,000 for 25% on her own or jointly with Joe Mimran, and Joe Mimran joined her offer at $150,000 for 25%, contingent on the BarkBox partnership going ahead. After negotiation, Michele Romanow and Joe Mimran agreed to lower their ask to $150,000 for 20%, pending the BarkBox deal, and the founders accepted.

meowbox is still operating and sells through its website.