Mella Pet Care’s journey on “Shark Tank” caught the attention of viewers with its innovative approach to pet health care. Led by founder Anya Babbitt and her co-founders, Daniella Morgan-Pascualvaca and Ben Seidman, Mella Pet Care introduced a groundbreaking product—a non-invasive thermometer.
This thermometer takes accurate temperature readings from under a pet’s foreleg. They pitched their product to the Sharks, asking for a $250,000 investment for 2.5% equity, valuing the company at $10 million. But what happened to Mella Pet Care after their pitch? Let’s find out!
Introducing a New Way to Monitor Pet Health
In the March 2024 episode of “Shark Tank,” Anya Babbitt and her team presented Mella Pet Care to a panel of experienced investors.
The panel included Lori Greiner, Mark Cuban, Kevin O’Leary, Daymond John, and Daniel Lubetzky. During their pitch, they highlighted a common problem faced by pet owners—how stressful it can be for pets to have their temperature taken at the vet.
“It can be very frustrating because sometimes the doctor just doesn’t understand,” Anya explained. “Our thermometer is not just a tool; it’s a game-changer in making pet care easier and more accurate.”
Mella’s thermometer is unique because it takes a pet’s temperature under the foreleg. This avoids the need for uncomfortable rectal thermometers.
It uses smart technology and machine learning to provide accurate readings. It considers factors like a pet’s breed, hair length, and age. “It’s like having a personal pet health assistant right at your fingertips,” Anya added.
Striking a Deal with a Shark
While the Sharks were impressed with the product, they had concerns about the company’s valuation and potential for growth. They were especially worried since Mella had only sold 2,500 units and made $160,000 in revenue.
Kevin O’Leary questioned, “With only $160,000 in revenue and 2,500 units sold, how do you justify a $10 million valuation?” The Mella team explained that they were focusing on validating the product with veterinarians before ramping up their marketing efforts to a larger audience.
Despite the concerns, Mark Cuban saw potential in Mella Pet Care’s vision. “I am excited to partner with Mella Pet Care and support their mission of improving the lives of pets and pet owners,” Cuban said. “Their innovative product line aligns perfectly with the evolving needs of today’s pet-centric society.”
However, Cuban challenged the original valuation. He offered $250,000 for a 6% equity stake, valuing the company at about $4.2 million. This was much lower than the founders’ initial valuation.
Anya countered with $350,000 for the same 6% equity, but Cuban held his ground. After some discussion, the team decided to accept Cuban’s offer. They understood the value he could bring to their business with his experience and connections.
What Happened to Mella Pet Care After Shark Tank? Growth and Increased Visibility
After their appearance on “Shark Tank,” Mella Pet Care saw a big boost in visibility and sales. Their website traffic increased, and they gained many new followers on social media. This exposure led to a rise in sales and interest from investors.
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,” reports stated.
Mark Cuban’s investment and mentorship were key to Mella’s growth after the show. He helped the company improve its operations and expand its product range.
“His expertise, vision, network, and passion for pets and innovation will expedite the expansion of Mella’s product offerings reaching a broader customer base,” Anya Babbitt shared.
Expanding the Product Line: New Innovations
Following their success, Mella Pet Care didn’t stop at thermometers. They introduced new products like the Biggie Body Condition device, which measures a pet’s body fat percentage and provides a body condition score.
These additions support Mella’s goal to offer a full range of pet health monitoring tools. “Our goal is to create an ecosystem of pet health devices that empower pet owners and veterinarians alike,” said Ben Seidman, co-founder and COO.
The company also secured partnerships with major retailers such as Amazon, Walmart, Vetcove, Chewy, and PetStock. This made their products easier to find for both pet owners and professionals.
“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,” said a customer, emphasizing the convenience and effectiveness of their products.
Awards and Recognition
Since appearing on Shark Tank, Mella Pet Care has earned many awards and significant media attention. They were featured on NBC Chicago’s Tech Trends and listed in WIRED’s Best Cat Toys, Litter Boxes, and Other Feline Supplies.
At the Global Pet Expo, their Mella Home Thermometer won third place in the Pet Tech Innovation category. “We are thrilled with the recognition we’ve received. It validates our hard work and dedication to revolutionizing pet care,” said Daniella Morgan-Pascualvaca, Mella’s Chief of Staff and co-founder.
Future Plans and Continued Growth
Mella Pet Care continues to innovate and expand. They plan to release more products, like a pet bowl scale, a chip reader, and a pulse oximeter. These will give pet owners more tools to keep their pets healthy.
“Together, we will disrupt the pet care industry and bring forth solutions that empower pet owners and enhance the well-being of our beloved four-legged friends,” Mark Cuban stated, showing his ongoing commitment to the company’s future.
Today, Mella Pet Care products are available in over 1,300 veterinary clinics across 15 countries. The company is on a strong growth path and continues to make an impact in the pet health tech industry.
As Anya Babbitt said, “We’re just getting started. With the support of Mark Cuban and our amazing team, we’re ready to take Mella Pet Care to the next level.”