Mark Cuban didn’t want to invest in Genius Litter — until a bidding war between his “Shark Tank” co-stars annoyed him into changing his mind.
The Austin, Texas-based company sells color-changing cat litter can alert pet owners of potential illnesses. Founded in 2020, Genius Litter is already profitable, CEO and founder Ramon van Meer said on Friday’s episode of the ABC show — with $3.1 million in year-to-date sales and $456,000 in year-to-date profits at the time of filming.
“It tests the urine. If it’s a high pH or a low pH, it will tell you if there’s a potential health issue,” said van Meer. “For example, if it turns red, it could be a kidney problem. If it’s blue or green, it could be a UTI.”
Van Meer had an entrepreneurial track record: In 2018, the Dutchman sold his first company, a soap opera blog, for $9 million, he said. That allowed him to put $1 million of his own cash, plus another $1 million already raised from other investors, into launching Genius Litter.
He wanted the show’s investor judges to help him do the same with his new company, he said, and asked them for $250,000 in exchange for 4% of Genius Litter.
“I want to build and scale this business and then sell it [strategically],” said van Meer. “We have two new products coming out [including] a health-indicating topper [that you can sprinkle] on top of your existing cat litter … and a health-indicating doggy pee pad.”
“Great idea,” investor Robert Hervajec said. “You’re really such an impressive man,” guest investor Emma Grede added. “You’re wonderful.”
The bidding war begins
Genius Litter isn’t the only pH-detecting cat litter on the market — van Meer touted his product as having “smaller particles, better odor control and less dust” than its competitors — but that didn’t stop Herjavec, Lori Greiner and Kevin O’Leary from immediately making offers.
“Lori and I have been talking about this … Here’s the deal, we want 10% of the company for $250,000, but we want a $2 royalty until we get back…
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