Where is Basepaws from 'Shark Tank' now? Zoetis acquires DNA testing kit company for cats
LOS ANGELES, CALIFORNIA: Much of the attention in the longevity domain is on the great potential for extending both human lifespan and health span, but the discoveries scientists are making today have far-reaching implications beyond human health. Enter Basepaws, a pet health and genetics firm that employs cutting-edge technology to improve the health and longevity of humanity's feline friends.
Basepaws offers genetic testing kits for cats based on scientific advances in genetics and microbiome research. The firm provides three tests: one that looks at breed and health, one that looks at oral health, and one that looks at the entire genome. The firm has grown and attracted new investors, including "sharks" Robert Herjavec and Kevin O'Leary from 'Shark Tank.' Zoetis, a major animal health firm, has now acquired Basepaws. Zoetis will benefit from Basepaws' extensive library of feline genetics, which will aid in the expansion of their feline health R&D and inspire future developments.
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What happened during Basepaws' time on 'Shark Tank'?
Anna Skaya told the Sharks that she would be interested in expanding the company's DNA testing capabilities for dogs, horses, and other common domestic pets, which might be one of the key applications for the capital investment she is seeking.
Kevin was interested in the margins for a single DNA test for cats. Anna replied that she makes the unit for $25 and sells it for slightly under $100. At the time of the 'Shark Tank' pitch, the product had been on the market for a little over ten months, producing more than $200,000 in gross sales and setting a revenue target of around $400,000.
Kevin was the first Shark to approach Basepaws with an offer. He offered $250,000 in exchange for 8.3% stock and an extra 1.7% in advisory shares. Meanwhile, Shark Lori Greiner chose to withdraw since she believed the firm had not earned enough sales to warrant an investment. Sharks Mark Cuban and Daymond John both declined to participate for identical reasons. Robert did not withdraw, but instead decided to replicate Kevin's offer and make a similar offer to Anna and her firm.
With two similar offers on the table, Anna tried everything she could to get them to collaborate. The good news is that Robert and Kevin decided to share the contract, which Anna promptly accepted.
Where is Basepaws now and how is the company faring?
The firm has continued to partially update its DNA testing kits and has even released cat-specific testing. Basepaws is still in business after 'Shark Tank,' generating more than $1 million in sales each year. The company's official website is also routinely updated with information about its testing kits and products.
According to their official website, Basepaws has expanded tenfold since its appearance on 'Shark Tank,' and is now regarded as one of the most successful firms to have appeared on the show. Not only did Anna attend Kevin's conference in Miami with senior Facebook and Amazon Launchpad executives, but they were also featured in Facebook's web series, Boost My Business, which focuses on entrepreneurs 'boosting' their social media presence. Since their first appearance on the show in 2019, their technology has also evolved. They now portray themselves as a leading cat health firm, having done significant work in feline diabetes and feline cancer. They've also improved their DNA test to incorporate genetic as well as breed health characteristics.
In addition, they've released a second product called the Cat Dental Health Test. It is a screening technique that allows you to detect active indicators of dental illness (e.g., periodontal disease, tooth resorption) before any visible symptoms appear. The exam is currently available for $99.99, or you may save money by purchasing a two or three-pack.
Zoetis, a prominent animal health firm, acquired the company in June 2022 for an unknown sum. The acquisition will most likely be discussed in an update section in episode 8 of Season 14 of 'Shark Tank.'
'Shark Tank' Season 14, Episode 8 airs on ABC on December 2, 2022, at 8 pm ET. Catch the latest episode featuring products like Hummviewer, Sliimey Honey, FireFighter1, ShredSkinz, and an update from Basepaws.
Missed an episode? Been wanting to catch up? Episodes can also be viewed the next day on demand and on Hulu. You can also watch old seasons and episodes on Amazon Prime Video and iTunes.
