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Fydoo Owner Gets Two LIFE CHANGING Offers From Davie_ _ Shark Tank Australia · The Empire of Wealth

• 0:00
  Speaker 1: Next into the tank is Sydney-based Sebastian Waddell with a
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  product that aims to make life a little easier for
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  pet owners across the world.
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  Speaker 2: Fido.
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  Speaker 3: Oh, I love the name. Good boy.
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  Speaker 2: Fido.
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  Speaker 3: Hi Sharks.
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  Speaker 4: My name's Sebastian Waddell and I'm the founder of Fido.
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  I'm seeking $ 250, 000 for 20% share of my business. Sharks,
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  we all know someone who owns a dog or we're
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  lucky enough to own a dog of our own like
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  me here with Hugo. However, it does have some challenges,
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  especially when it comes to their toileting. I've invented Fido,
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  a fully automatic self-cleaning toilet for dogs.
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  Speaker 5: What?
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  Speaker 4: And it has changed the way that we look after
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  our furry little friends.
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  Speaker 3: So how Fido works is.
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  Speaker 4: Connect it to a waste drain, connect it to a
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  water source, drop in the sanitiser discs that are specially formulated,
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  and the grass rotates with the waste into the cleaning chamber.
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  Speaker 6: Oh, the poop goes in there.
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  Speaker 4: Yeah, where the high-pressure water jets dissolve the sanitiser, applying
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  it to the grass, then the high-pressure jets.
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  Speaker 3: Rinse the toilet. Wow.
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  Speaker 4: People are quite time poor these days, especially with more
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  and more people living in apartments, townhouses or homes without backyards. Sharks,
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  let's work together and let Fido clean up after their
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  dog so they don't have to.
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  Speaker 3: Sounds expensive. It has been expensive for me.
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  Speaker 6: How much is the unit?
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  Speaker 4: It's retailing for $ 12.
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  Speaker 5: 99.
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  Speaker 6: And what does it cost you to make?
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  Speaker 3: $ 225. Incredible margin.
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  Speaker 2: So where are you at with the business? Like, where
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  have you got sales?
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  Speaker 1: Sebastian's business has the sharks intrigued. Dog lover Davey Fogarty
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  already owns pet-related brands, so will he show interest in
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  this dog-friendly innovation?
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  Speaker 4: This is actually V2 version of the Fido dog toilet.
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  The V1 version, we went to pre-sale, generated... Nearly $ 200, 000.
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  Speaker 3: Worth of pre-revenue sales.
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  Speaker 2: Wow.
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  Speaker 3: Over 100 units sold.
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  Speaker 4: And unfortunately, when we were pushing go time to go
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  to manufacturing, we weren't quite ready.
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  Speaker 3: So I had to refund the customer money. Do you
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  need help with Hugo? Yeah, I think I might let
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  him go to the toilet.
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  Speaker 6: Oh, you gotta go out the elevator.
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  Speaker 3: Come on.
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  Speaker 2: See you, Hugo.
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  Speaker 6: Bye, Hugo.
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  Speaker 3: Good job, buddy.
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  Speaker 5: Oh!
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  Speaker 2: Sorry, guys.
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  Speaker 3: Oh, man. Good boy. So, Sebastian, what are your sales?
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  Speaker 4: So, we've only not long finished this product, so I
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  haven't gone to pre-sale.
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  Speaker 6: You haven't sold this yet?
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  Speaker 3: Not yet. Not the V2.
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  Speaker 6: When you were selling version one, how did you collect
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  cash up front? Was it a crowdfunding?
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  Speaker 3: No, it was prepayment. So you got.
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  Speaker 6: People to pay you up front with the order?
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  Speaker 3: Yeah, I did.
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  Speaker 2: Wow.
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  Speaker 3: And has V2 arrived yet? Is it in Australia?
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  Speaker 7: No, so.
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  Speaker 4: B2 will go to production once I seek funding.
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  Speaker 6: The really obvious question for me, why not just call
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  those 100 people and sell it to them.
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  Speaker 3: And say, guys, I'm ready?
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  Speaker 2: Yeah.
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  Speaker 4: You know, I didn't want to feel like I'm doing
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  the wrong thing to people.
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  Speaker 3: I just want to have the product and then I
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  could just sell it.
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  Speaker 2: Seb, it sounds to me that you might have been
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  a bit scarred by what happened before.
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  Speaker 3: Is that right? Yeah, look, there has been times where
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  I've wanted to give up.
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  Speaker 4: You know, it's played on my mental health. It's impacted relationships.
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  It's really been a difficult path. And I've just persevered because...
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  You know, I believe in my products. I've spent over $ 350, 000 myself.
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  Speaker 7: Wow.
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  Speaker 3: So I'm all in.
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  Speaker 4: I've secured patents and IPs, trademarks, design registrations across the globe,
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  covering 52 points of protection.
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  Speaker 3: And now I'm here.
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  Speaker 6: Sebastian, you know, business is a contact sport.
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  Speaker 2: Yeah.
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  Speaker 6: If you're going to be successful, you're going to get
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  bloodied and you're going to get bruised along the way.
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  Speaker 5: Yeah.
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  Speaker 2: Yeah.
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  Speaker 6: I don't know if this is a retail product or not.
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  It doesn't feel right for me.
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  Speaker 8: I'm out.
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  Speaker 3: Okay, thank you.
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  Speaker 7: Hey, Sebastian, I think this product can really be revolutionary,
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  but having never owned a pet in my life, probably
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  not the right business for me to invest in, so
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  for that reason, I'm out.
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  Speaker 3: Thank you. I'm a high-tech entrepreneur. I build AI. I
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  build robots. And I don't think I'm the best chart
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  for you. I'm out. Thank you.
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  Speaker 5: I'm still humming and aahing.
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  Speaker 3: We can wait for you.
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  Speaker 8: This one's a difficult one because I truly believe that
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  you have something that has huge mass market appeal. The
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  challenge that I have is that as you stand in
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  front of us today, you don't have a product that
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  you can sell.
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  Speaker 3: Okay. So for that reason, I'm out. Thank you. Thank you.
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  And there was one.
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  Speaker 2: Your story's really touching. I think it's pretty clear that
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  you've been through a hard path the past three years.
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  You know, you brought that story up, and that's okay. Like,
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  we've all failed. I've got a very similar story. A
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  lot of people don't know, like, I almost lost all
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  of my businesses. I couldn't get out of bed. I
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  was having panic attacks every single day.
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  Speaker 3: Yeah.
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  Speaker 2: And it takes a toll. So I'm going to give
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  you two offers. And these two offers will... It'll allow
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  you to choose your destiny. The first one is.
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  Speaker 3: $ 250, 000.
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  Speaker 2: For 45% because you really need business help, OK? You
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  really do need business help and you need manufacturing help.
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  Speaker 3: Yeah. The other offer... is half a.
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  Speaker 2: Million dollars for the entire business.
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  Speaker 6: What?
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  Speaker 3: Ooh, I love it. On the buying it out, straightaway,
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  that's a no for me. I love it. That's what
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  I wanted to hear.
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  Speaker 6: Perfect answer.
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  Speaker 3: The value that you could bring is invaluable.
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  Speaker 2: I've sold tens of millions of dollars of pet products myself.
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  Speaker 3: And I understand this market.
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  Speaker 4: Do you think you could do it for 30%? It's
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  too low.
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  Speaker 2: Because you haven't got a product to market yet. And
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  that means that it's going to be a lot of
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  work for me. and therefore I understand the value that
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  I bring, so 30% is a no.
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  Speaker 3: OK.
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  Speaker 2: I can do 40%.
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  Speaker 3: For 250? For 250. And that's the best that you
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  can do? That's the best I can do.
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  Speaker 1: Done.
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  Speaker 3: Yes. We're going to make so many of these things. Thanks, Stevie.
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  Speaker 5: Awesome.
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  Speaker 2: I can't wait to help you.
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  Speaker 3: I really appreciate it. Thank you. It's a great product.
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  We'll chat soon.
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  Speaker 2: Thank you.
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  Speaker 3: Well done. Thank you. Great job.
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  Speaker 1: It's an incredible win for Sebastian. He's secured himself a $ 250, 000
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  investment in Fido from Davey Fogarty.
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  Speaker 4: Davey loved the product and he was the one that
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  I wanted.
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  Speaker 3: Connor hasn't sunk in yet. Thank you.