Cat lovers frequently encounter a particular difficulty in internet dating: people typically view them as uncool. Just by expressing their affection for cats, they can receive fewer matches or, worse, be turned rejected completely. While dog owners can readily form bonds with other pet owners at playdates or dog parks, cat lovers are not afforded the same social places.
The creators of Tabby developed a dating app specifically for cat lovers in order to solve this problem. Co-founder of the dating app Dig for dog lovers, Leigh Isaacson noticed a void in the market for cat lovers. She founded Tabby in collaboration with Sterling Davis, an advocate for animal rescue, and Nathan Kehn, a well-known influencer who specializes in cat-related content.
The three introduced their app to Shark Tank viewers, aiming to raise money to expand their platform. Their aim was straightforward: to give cat lovers a fun and safe place to socialize, date, and meet others. The team asked for $300,000 in exchange for 20% equity. Did the entrepreneur get a deal on Shark Tank? Check out our Tabby update to find out!
tabby net worth 2024
Leigh Isaacson, Sterling Davis, and Nathan Kehn asked for a $300k investment in exchange for 20% equity in their company. This meant they valued their company at $1.5 million. They made a deal with Kevin O’Leary for $300k in exchange for 30% of their company.
This new deal valued their company at $1 million. After the show aired, Tabby saw a big increase in website traffic, sales, and social media exposure. However, the app ceased operations by February 2022, resulting in a current net worth of $0 for Tabby in 2024.
Tabby Shark Tank Update
As for Tabby’s update, after her Shark Tank appearance, Tabby’s visibility significantly increased. The software, which was accessible for iOS and Android, soon attracted the interest of many media sites, including People and Good Morning America. The app failed to sustain its pace despite this increase in interest and an attractive agreement with Kevin O’Leary.
By February 2022, the business website was no longer operational, and it had stopped using social media. Unfortunately, Tabby has ceased operations as of today, despite initial signs of promise, including thousands of users and favorable publicity.
Yes, Tabby was successful in landing a deal on Shark Tank. Seeing an opportunity to reach a sizable cat fan audience, Kevin O’Leary offered the three $300,000 in exchange for a 30% stake. Kevin refused to accept the founders’ first counteroffer of 25% shares since they were set on certain terms. When the founders finally agreed to his offer, Tabby’s deal was successful.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Kevin O’Leary | $300,000 for 30% equity | $300,000 for 25% of equity stake | Yes |
| Robert Herjavec | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
| Nirav Tolia | Out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
Tabby Shark Tank pitch
The motivation behind Tabby’s creation was to support cat lovers in making deep friendships. Having already founded Dig, an app for dog lovers to date, Leigh Isaacson had direct experience with the bonding that pet owners have with their animals. She understood that owners of cats were not afforded the same opportunities.
In order to increase awareness, social media personality Nathan Kehn, who has four cats, joined the effort. Sterling Davis, who sold everything to raise money for feral cat rescue and care, also contributed his passionate viewpoint. Their shared goal was to establish a secure environment where cat enthusiasts could socialize, meet, and express their affection for their furry companions.
The creators began by outlining the issue. Cat lovers experience loneliness in the dating world when they introduce Tabby to Shark Tank. Cat owners don’t have as many opportunities to interact with other aficionados as dog owners do. Through the creation of a network for cat lovers, the app sought to close that divide.
The team stated their app had already attracted 31,000 users and generated $43,000 in lifetime revenue when they requested $300,000 in exchange for 20% equity. They also disclosed that the Million Dollar Dating Project had awarded their app $50,000 in equity-free funding.
With a strong emphasis on their love of cats and the expanding number of single cat owners in the United States, they made a compelling presentation. Keep reading our Tabby update to see what happens next!
Every shark was doubtful of Tabby’s capacity to develop. This is what they enquired:
Mark Cuban first asked how many cat owners there are there. The founders replied there were $17 million single cat owners in the US.
Mark Cuban questioned, how they promote the app. He thought that instead of concentrating on marketing; they had spent too much time developing the app on a different platform.
Robert Herjavec asked, Can this really be expanded? He also left because he didn’t see the app’s potential for expansion.
Nirav Tolia asked when they started how many people were using the app and what they had learnt so far. The founders revealed when they launched they got the opportunity of a million-dollar project “Grant”. A dating platform company that gave them $50,000 and allowed them to promote Tabby through their platform.
Mark Cuban asked about the numbers. The founders replied that 31,000 users use their app, and they made $43,000 in revenue.
Nirav Tolia asked how they were going to overcome the competition. Nirav thought they would have a difficult time differentiating themselves in the crowded app industry. He also stopped attending.
Kevin O’Leary spotted an opening. He believed he could use his investment in Basepaws, a cat-focused firm, to promote Tabby.
Mark Cuban didn’t think Tabby had what it takes to be successful. He abruptly left, saying that they were already falling short and that app promotion was a difficult job.
Lori Greiner also decided not to invest because she has little knowledge about apps and their growth.
Robert Herjavec left the niche market of cat lovers because he didn’t see its appeal.
Nirav Tolia left the app because he felt it lacked enough originality to succeed in the market.
Kevin O’Leary recognized potential, particularly since Basepaws had already caught his interest in the cat industry. For 30% equity, he promised the three of them $300,000. After some negotiation, they agreed to his deal.
Product Availability
From our Tabby update research, Tabby was created specifically for cat lovers to connect. It gave users a special place to connect over their shared love of cats. Users could subscribe to the app for $19.99 a month, and it was available on both iOS and Android platforms.
However, the program ran into some problems as it became widely used. Tabby’s voyage has ended as of right now because the website is no longer active and the app can no longer be downloaded.
Conclusion
Tabby’s story is one of determination, appeal to a certain niche, and difficulties. The creators’ goal was to build a network for cat lovers, and they achieved national recognition because of their Shark Tank appearance. Even after striking a partnership with Kevin O’Leary, the app could not sustain its growth and ultimately went out of business. Tabby’s nine lives have ended, even though it may have had the cutest notion.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
