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Shark Tank season 10 saw Basepaws in episode 21 and not only did its founder Anna Skaya manage to get the sharks to invest in her company, she also reached great heights with it. The episode aired in April 2019.
Anna created Basepaw to have genetic testing for cats. All customers have to do to get their cats' DNA tested is to order the test, take a fur sample and send ti back for testing. Anna has worked on four different start-ups before launching the DNA testing company in 2016 to make “the world better for cats (and their humans)."
Anna Skaya made an appearance on Shark Tank season 14's episode that aired on December 2, 2022 to talk more about her company.
The synopsis of the episode read:
"Daniel Lubetzky guest sharks; a way to attract hummingbirds; easing anxiety with an entertaining product; a fire-defense system; a wearable fitness design makes it easier and faster to sweat; an update on Basepaws, a pet genetic testing company."
Zoetis acquired Basepaws four years after it appeared on Shark Tank
The start-up appeared on Shark Tank during season 10 and at the time, it had already earned $100,000 in revenue. The test cost $25 dollars to create and was sold for $95.
However, at the time, it only had DNA testing that was able to help pet parents find out what diseases their cats could get. The testing kit included another feature that now enables the company to form a database of all cats to further identity future traits or diseases, and comes with health markers.
The Shark Tank company took it a step forward in terms of feline healthcare and introduced new products that have contributed towards finding solutions to cat diabetes and cat cancer. In July 2022, Basepaws was acquired by Zoetis Inc.
Kristin Peck, Zoetic’s CEO spoke about the acquisition and said that when they met Skaya and her team, the company was drawn to their passion for pets. Peck added that they were interested to see the role that genetic testing and data analytics have on advancing animal care.
They further stated that the addition would enhance their precision in the animal health space and help in their future petcare innovations. Together, the companies can provide more comprehensive solutions to manage the health, wellness, and quality of care of animals.
Basepaws’ on Shark Tank
Anna appeared on Shark Tank season 10, episode 21 seeking $250,000 for a 5% stake in her company. Shark Lori asked why the test was cat-specific and Anna explained that she plans on introducing a test for canines the following year.
O’Leary asked her about the costs and margins, and Anna explained that each unit costs $25 to make and is sold for $95. She said that her company has been available for over 10 months and generated over $200,000 in gross revenue.
Kevin was the first Shark to make her an offer of $250,000 for an 8.3% stake plus 1.7% in advisory shares which brought the company's value to $3 million. Eventually, Kevin and Robert worked on a deal of $250,000 for 10% together which Anna accepted.
