Stephen Chen has come up with a way to save the daily checkups needed for your dog, with his idea of Petnostics, a system in which a mobile app algorithm analyses the color of a unique strip that changes color according to the urine of the dog and helps the owner see the health of his/her pet and be able to prepare accordingly if necessary.
This idea is unique and may change the pet health industry forever, but are the sharks interested? let us find out.
Petnostics at a glance.
| Business idea | Urine tests for dogs to observe the pets’ health. |
| Founder | Stephen Chen |
| Asked for | $300,000 for 10% |
| Accepted deal | $300,000 for 20% |
| Sharks | Kevin O’Leary, Lori Greiner |
| Business status | In business |
| Episode | Season 7, Episode 24 |
| Website | Petnostics |
| Buy on Amazon | Buy Now! |
Index:
Founder Story:
Stephen Chen, the creator of Petnostics, has a background in the healthcare industry and spent 5 years managing a health device company. During one of his projects for developing a new urine analyzer, he came up with the idea of a mobile app replicating the efficiency and application of the urine analyzer and creating a version of the product that pet owners could use to monitor the health of their pet at home at a more affordable cost.
He thought the idea was worth the effort so he built his startup and started selling his product online, with over 10,000 urine sample cups sold. He then decided to come to shark tank and try to secure an investor to help him further his business.
Did Petnostics get a deal on the Shark tank?
Stephen Chen comes up to the sharks with his dog Austin and introduces himself, asking $ 300,000 for 10% of his startup. He demonstrates how the product is used and explains that he has 4 patents regarding the product design and application and how this product will reduce the number of visits to the vet as the owner can see the health of the dog in just a click.
Ashton Kutcher, a guest shark at the time, then asks if he has to follow his pets around in order to collect the urine sample for the test and Stephen suggests another product which is an extendable ladle-like tool to solve that problem, which the sharks laugh at.
They then proceed to ask about sales and Stephen says that he has sold around 10,000 single-use cups on his website and through retail stores at $10 each, which take $2 to produce, but after further development, can be made at just 90 cents.
Kutcher then also says that the owner taking blood samples would be more efficient than urine to which Stephen says that the owners will not be willing to do so to their pets and would be motivated to use the products by their veterinarians, but Kutcher does not agree while asking why vets would not want the pet to be brought to their office for testing instead, and then backs out.
Robert joins him since he thinks the distribution channel is not vast enough. Mark also goes out because he thinks that the technology is limited to just the strip and may only be used in a few other ways.
Kevin then decides to make an offer at $300,000 for 15%, Lori makes her own offer at 20%, and Stephen tries to make Lori go down to 15% also, but instead Kevin and Lori both together put forward the offer of $300,000 for 20%, to which Stephen agrees.
What happened to Petnostics after Shark tank?
Even though it seems like the deal with Kevin and Lori did not close, the startup surely received valuable exposure after appearing in the shark tank and helping others become aware of the product. Stephen then partnered with Fetch for pets, a big company for distribution and manufacturing.
There is also the addition of the hydrophobic cat litter to collect the urine samples from cats instead of following them with the extendable urine ladle and there will also be an android version of the app to go with the IOS version.
Product details:
- The product consists of a single-use cup costing $10 with a strip on the cap that reacts and changes color when exposed to the urine of the dog,
- the mobile app is then used to scan the cup to see whether the dog is healthy or not on the app display.
- The startup can be contacted at,hello@petnostics.com
- The startup is based out of Los Angeles, California.
Competitors of Petnostics
Some competitors are
- Lin Health LLC
- RegDesk LLC
- Seratis LLC
What is the net worth of Petnostics?
Founders valued Petnosticsc at $3 million. The net worth of this startup was around $1.5 million when the deal was done in the shark tank. The current net worth of this startup is unknown.
Is Petnostics still in business?
Even if the business was operational up to January 2022, the startup’s website might have closed down in April 2022 with the products no longer being available on Amazon. There do not seem to be any future prospects for this company, and we do not have much information regarding the reopening of the company either.
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FAQs:
What is Petnostics?
Petnostics helps in urine tests for dogs to observe the pets’ health.
Who founded Petnostics?
Stephen Chen, the creator of Petnostics, has a background in the healthcare industry and spent 5 years managing a health device company. During one of his projects for developing a new urine analyzer, he came up with the idea of a mobile app replicating the efficiency and application of the urine analyzer and creating a version of the product that pet owners could use to monitor the health of their pet at home at a more affordable cost.