What Happened to Petnostics after Shark Tank? Petnostics Shark Tank Update
What is Petnostics? Who is the founder of Petnostics?
Petnostics is a device that allows pet owners to easily monitor their pet’s health through an at-home urine test, which can be analyzed through the Petnostics app.
The device includes a cup for collecting urine samples, as well as a urinalysis strip built into the cup’s lid that interacts with the app.
Petnostics provides a convenient and cost-effective solution for preventative healthcare for pets, especially for those with chronic illnesses.
The company was founded by Stephen Chen in March 2015, who aims to combine his experience in the medical device industry with his love for animals.
The Petnostics app allows pet parents to easily maintain their pet’s happiness and health by providing at-home test kits that use the same diagnostic test strips used by veterinarians and results can be easily shared.
What Happened to Petnostics at Shark Tank pitch?
In an episode of Shark Tank, Petnostics founder Stephen Chen pitches his patented technology, which allows pet owners to test their pet’s urine using their iPhone and an accompanying app.
He is seeking a $300,000 investment in exchange for a 10% stake in the company, which is valued at $3 million.
Stephen demonstrates the use of the Petnostics cup and sample collector, a long-handled ladle that allows for easy collection of samples from female dogs and cats.
The Sharks ask various financial questions and express concerns about the product’s appeal to veterinarians and consumers, as well as the potential for urine collection as a testing method.
Guest Shark Ashton Kutcher expresses skepticism about the product’s success. Robert Herjavec and Mark Cuban both exit the pitch.
In the end, Lori Greiner and Kevin O’Leary make offers of $300,000 for a 15% and 20% stake respectively, and Stephen accepts their two-Shark deal to end the pitch.
What Happened to Petnostics after Shark Tank?
After appearing on Shark Tank, Stephen Chen, the founder of Petnostics, was able to secure a partnership with Fetch for Pets, a major pet product manufacturer and distributor.
In addition to the original strip tests, Petnostics has introduced a new product called “hydrophobic” litter, which allows for easy collection of urine samples from cats without the use of the extended ladle.
The company has also expanded its app to be available on Android and other platforms. As of February 2022, Petnostics is still in business, with an annual revenue of $250,000.
Competitors of Petnostics
The companies that similar to Petnostics are; Equine Veterinary Associates, Inc., Christina L Garloff Dvm, Family Pet Clinic and Georgina M Kelly Veterin.
Net Worth of Petnostics
The net worth of Petnostics at the time of their pitch on Shark Tank was valued at $3 million. However, since the pitch, the company has continued to operate and therefore, its current net worth may be higher than what was originally presented.
Petnostics FAQs
What is Petnostics?
Petnostics is a patented technology that allows pet owners to test their pet’s urine without getting a sample from the animal or holding a cup beneath them. Its several benefits include elimination of unnecessary blood collection and ease of use.
Who is the founder?
Stephen Chen is the founder and CEO of Petnostics and a veterinarian.
How much was seeking on Shark Tank?
Chen was seeking for $300,000 for 10% stake of his company.
Did he have the deal?
Yes, Chen entered a deal with Lori Greiner and Kevin O’Leary.
How much was the deal?
They offered $300,000 for 20% stake of the company.
Is Petnostics still in business?
Yes, Petnostics is still in operation and doing business as of February 2022.
Where is the headquarters?
The headquarters is located in Los Angeles, CA.
What are Petnostics products?
Petnostics urine test strips and a cup, which enables to collect the pet’s urine directly from their pet without holding any cups beneath them.
What information may a dog urine test reveal?
Red blood cells, white blood cells, crystals, bacteria, and tissue cells from various areas of the urinary system are the most often discovered components of urine sediment.
Small quantities of mucus and other detritus are frequently seen in free-catch samples. Occasionally, parasite eggs are discovered in urine.
What is the purpose of Petnostics testing?
Urine tests are used by veterinarians to check several illnesses in dogs and cats, including bladder stones, diabetes, and liver disease.
Can I do a urine test on my dog at home?
The Petnostics Test Kit enables anyone to monitor the health of their pet from the home. To begin testing, just collect the dog or cat’s urine in the supplied cup and screw on the Petnostics cover. Scan the top of the lid with the free Petnostics app to examine the results.
How do I buy Petnostics?
Customers can buy Petnostics products at most pet stores, online retailers and from the manufacturer directly.
What is the different between Petnostics test strips and liquid urinalysis?
Petnostics Test Kit includes seven different urine analysis test strips for blood, red blood cells, white blood cells, bacteria, crystals, and mucus and tissue cells. The results of these tests can be read immediately.
Is Petnostics safe for pet?
Petnostics is safe for pets. Results are seen after just a few minutes and are undetectable.
What is the net worth of Stephen Chen?
Stephen Chen’s net worth is unknown.