Petnostics Shark Tank Update

Petnostics Shark Tank Pitch

Stephen Chen appeared on Shark Tank Season 7, Episode 24, which aired on April 15, 2016, with pet urine sample technology for monitoring your pet’s health.

Petnostics is listed in the PetProducts category. In plain terms, the business is described as pet urine sample technology for monitoring your pet’s health.

Petnostics asked the Sharks for $300,000 for 10%, implying a valuation of about $3 million.

On the show, Petnostics made a listed deal with Lori Greiner and Kevin O'Leary for $300,000 for 20%.

If treated as straight equity, the listed deal works out to about $1.5 million implied valuation, down from the original $3 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Petnostics After Shark Tank

Petnostics accepted an on-air Shark Tank deal for $300,000 for 20%. The on-air deal did not close. Follow-up reporting lists the company as in business. (Petnostics Shark Tank Update

Petnostics reported annual revenue of $250,000 as of January, 2022. (Petnostics Shark Tank Update

As of April, 2022, the website is dark and the products are no longer available on Amazon. (Petnostics Shark Tank Update

In addition to the existing line of strip tests, he's added a "hydrophobic" litter that allows cat owners to collect urine samples without chasing their cat around with the still-available extendable ladle. (Petnostics Shark Tank Update

The official website for Petnostics is listed as www.petnostics.com/products/urine-test-cup. (Petnostics website

Sources

Sources used for this page: Shark Tank API pitches