Mella Pet Care Shark Tank Update – Net Worth 2024

In this thrilling episode of Shark Tank, the founder of Mella Pet Care, Anya Babbitt, joined the show with her teammates. Mella is all about creating healthcare devices for pets. These smart thermometers are efficient at measuring temperature, especially for pets like dogs and cats.

The founder brought innovative business ideas to the investors on the show. The sharks involved were Lori Greiner, Mark Cuban, Kevin O’Leary, Daymond John, and Daniel Lubetzky.

Let’s see if the product can impress the sharks. Did the company get a deal on the shark tank? If you want to know more about the outcomes, just dive right into the article, and you can enjoy the whole episode. Gear up!

Mella Pet Care Net Worth

Anya Babbitt asked for a $250,000 investment in exchange for 2.5% equity in Mella Pet Care. This meant she valued her company at $10 million. She made a deal with Mark Cuban for $250,000 in exchange for 6% equity, which valued her company at approximately $4.2 million. After the show aired, Mella Pet Care saw a significant increase in website traffic, sales, and social media exposure. With an estimated 20% yearly growth rate (typical for a tech startup), the current net worth of Mella Pet Care is about $7.23 million.

Mella Pet Care Shark Tank Update

What happened to the Mella Pet Care after Shark Tank?

Mella Pet Care is doing an amazing job in the pet health tech industry. They have won awards and got tons of media coverage after appearing on Shark Tank. That exposure helped them reach a wider audience and attract investors.

Moreover, They have expanded their product line to include the Biggie Body Condition device. It is not just a weight calculator; it also gives you body fat percentage and body condition score.

Did the Mella Pet Care get a deal on Shark Tank?

Yes, the company was successful in closing a deal with Mark Cuban. He offered $250,000 for a 6% stake in the company with a valuation of $4.2M, and the entrepreneurs accepted it.

Shark(s) name	Offer	Demand	Counteroffer	Accepted?
Daymond John	Out	N/A	N/A	N/A
Lori Greiner	Out	N/A	N/A	N/A
Kevin O’Leary	Out	N/A	N/A	N/A
Daniel Lubetzky	Out	N/A	N/A	N/A
Mark Cuban	$250,000	6% equity with a valuation of $4.2M	$350,000 for 6% equity	Yes

Founder and Backstory

The Mella Pet Care team, made up of Anya Babbitt, Daniella Morgan, and Ben Seidman, is a powerhouse of experience. Each of them has been deeply involved in the startup world, bringing their unique expertise to the table. They started their journey together back in 2015, focusing on creating a product for infants and children called the pulse oximeter, which is an infrared thermometer. It’s amazing how they have taken their knowledge and passion for innovation and applied it to the world of pet health. They’re truly a remarkable trio.

Anya Babbitt, the founder, started it all because her pup Mella was getting sick. She realized how important it was to monitor her pet’s temperature, but the traditional vet visits were a hassle. So, she teamed up with Morgan and Seidman to create a unique, non-invasive pet thermometer. Their innovative technology uses sensors and machine learning to measure temperature from the axillary region. With three temperature sensors and AI algorithms, it gives accurate readings.

Initial Pitch

The entrepreneurial trio, Anya, Ben, and Daniella, appeared on Shark Tank, and they highlighted a major challenge that pet owners face when it comes to explaining their pets’ pain to the doctor. It can be very frustrating because sometimes the doctor just doesn’t understand. They end up asking for conventional testing, which can be a hassle.

However, the founders came up with an awesome solution to tackle this problem head-on and created these amazing smart devices called Mella Pet Care. These devices are super user-friendly and provide quick and accurate data about your pet’s condition. It’s like having a personal pet health assistant right at your fingertips.

With Mella Pet Care, you can easily check your pet’s current condition and keep them healthy. The best part is that all the information is conveniently available on your mobile app. It is a much more efficient and hassle-free way to monitor your pet’s well-being compared to the traditional methods. The founders were seeking $250,000 for a 2.5% take with a $10M valuation.

Queries about the Mella Pet Care

After their presentation, Daniel Lubetzky kicked off the conversation by asking about the founders’ background. Anya shared that she started the company and came up with the idea while observing her pet, Mella. Ben joined later because of his tech skills, and Daniella, who used to work as a veterinary assistant, joined the team as well. She is even planning to pursue an MBA degree at the University of Chicago.

Then, Daniel asked a great question about how their thermometer is different from a human thermometer. Daniella explained that their tool is specifically designed with algorithms that take into account various factors like a pet’s breed, hair length, age, and more. This makes it super easy to calculate their temperature accurately. Lori Greiner was curious about their sales, and Ben shared that they’ve already sold 2,500 devices.

Mark Cuban jumped in and asked about their revenue, to which Ben revealed that they’ve made $160 in revenue so far, even with a soft launch and minimal marketing expenses. Lori then asked when they officially launched the product, and Ben mentioned it was in early 2022. Kevin had a question about their target market, asking if they sell to vets or directly to customers. Daniella explained that they sell to both vets and direct customers, making it accessible to everyone.

When Lori inquired about the costs, the founders revealed that they manufacture the thermometer for $40 and sell it for $159. Lori was impressed by their margin, and the entrepreneurs proudly shared that their product is the first-ever home pet digital thermometer.

Sharks’ Responses and Final Deal

When it was time to invest, things didn’t go well. Four out of the five sharks were already out because they felt it was too early to invest in a new company in such a competitive market. They were also concerned about the low sales of the product. But then, Mark Cuban comes with an offer.

Mark believed in the potential of Mella Pet Care and made an offer of $250,000 for a 6% stake, with a valuation of $4.2 million. However, Anya wasn’t entirely satisfied with the offer and decided to make a counteroffer of $350,000 for the same 6% equity. But Mark stood firm with his original offer. In the end, the founders had to make a tough decision and went with Mark’s offer. And that’s how Mella Pet Care scored a deal on Shark Tank.

Mella Pet Care Availability

Mella Pet Care thermometer is a super user-friendly device for pet parents. You just place it under your pet’s foreleg and get temperature readings easily. The results are all right there in the dedicated app, so you can quickly share important info with your vet. And for veterinary professionals, there’s the Mella Pro Thermometer. It measures axillary temperatures and seamlessly integrates with the practice management system through the app.

Mella Pet Care even offers accessories like the ear sensor and rectal sensor to enhance pet health. They are all affordable too, with the Home Thermometer at $59 and the Pro Thermometer at $159. You can find these awesome products on Amazon, Walmart, and other platforms like Vetcove, Chewy, and PetStock. They have made it super easy to get your hands on their innovative pet care products.

Conclusion

Mella Pet Care’s journey on Shark Tank was successful. The founders impressed the sharks and managed to seal the deal with one of them, Mark Cuban. They were beyond thrilled to partner up with him and couldn’t wait to start working together. They see this deal as a great chance for their business and are super stoked about the growth opportunities it brings. With Mark’s expertise and support, they are ready to take their pet care products to the next level and make a real impact in the industry.