DNA Simple Net Worth
DNA Simple is a company that compensates people for providing basic information and a saliva sample. The company was valued at $1.3 million after appearing on Shark Tank, and its founder, Olivier Noel, has a net worth of $1.3 million as of 2022.
What is DNA Simple and Who Found DNA Simple?
DNA Simple is a company that was founded by Olivier Noel, who serves as its CEO. The company offers $50 to individuals who submit their saliva for medical research.
During his time as a medical student, Noel recognized the difficulties that researchers encountered when attempting to obtain samples from study participants.
To address this problem, he developed DNA Easy, an online platform that connects researchers, scientists, and patients with willing participants across the United States.
To participate in DNA Easy, individuals simply need to register on the company’s website. Researchers will contact them if they qualify for any studies.
Once matched to a study, DNA Easy will send a collection kit and provide a $50 check upon receipt of the sample. By participating in this program, individuals can contribute to medical research while also earning $50.
Oliver Noel is the founder of DNA Simple, the company that offers this service.
DNA Simple Shark Tank pitch
DNA Simple is a company founded by Noel that acts as an intermediary for DNA samples. Users register on the company’s website, provide medical data, and select the studies they wish to participate in. Upon acceptance, they receive a saliva kit and $50 for their sample.
DNA Simple keeps the donor’s information private and only uses it for the selected studies. Unlike other DNA companies, there is no fee for submitting a sample.
DNA Simple earns money by selling the data to the sponsor of the study. Noel was seeking $100,000 in exchange for a 12.5% stake in the company. He believes that in the future, pandemics will occur and scientists will only be able to detect them using DNA. The company had already matched 500 studies, generating $30,000 in sales.
Mark made an offer of $200,000 for a 20% stake in the company, and after some negotiation, Oliver agreed to a counteroffer of 15%.
The company gained significant publicity from its appearance on Shark Tank, and by the end of 2017, it had 130,000 samples in its database, surpassing its goal of 100,000. They aimed to have over 1 million samples by 2018 and began accepting samples from Canada as well.
It was intriguing to hear Noel predict the 2020 epidemic, and as of June 2021, DNA Simple is still in operation and valued at $1.3 million.
DNA Simple Net Worth
The company is valued at $1.3 million.
DNA Simple FAQS
Who founded DNA Simple?
Oliver Noel is the founder of DNA simple.
How does DNA Simple works?
Donors register on the website and provide some basic medical data.
Then they look through a list of studies and apply to the ones they want to support.
If you are accepted into a study you will receive a saliva kit as well as $50. You get paid for providing the sample.
Where is DNA Simple located?
DNA Simple is based in Regions Greater Philadelphia Area, Great Lakes US.
What is the net worth of DNA Simple?
As of June 2021, the company is valued at $1.3 million.
When did DNA Simple Shark Tank Episode air?
The Season 9 Episode 10 aired on 17, November 2017.
Did they make a shark tank deal?
Yes, Mark Cuban agreed to invest $100,000 for 15% of the company.
Will DNA Simple go public?
What’s DNA Simple’s Business Model?
We’re paying you for spitting in a tube… researchers get the samples they need, and we get paid for making it all happen. It’s a win-win for everybody.
What were the Sharks’ offers for DNA Simple?
Guest Shark Richard Branson was first to make an offer but Mark Cuban swooped in and sealed the deal with the DNA Simple founder.
Did DNA Simple get a deal on Shark Tank?
Yes, DNA Simple received an unexpected and generous deal from Mark Cuban.
What happened to DNA simple after Shark Tank?
Publicity from the Shark Tank episode and guidance from Mark Cuban definitely helped DNA Simple to move their company forward.
How much is DNA Simple worth now?
Interestingly, Mark Cuban’s investment of $200,000 for 15% equity in the company instantly increased the value of his company by more than $500,000.
Given Cuban’s investment, DNA Simple is now worth at least $1.3 million.
Is DNA Simple still in business today?
Yes, the company is still very much in business.