The 'Stupid Idea' That Made Kevin O'Leary A Massive 20x Return: 'It Was Such A Crazy Pitch, I Bought It Anyway

Benzinga08-27

Kevin O’Leary, known as “Mr. Wonderful” on “Shark Tank,” made a crazy good bet on a wild idea. What if someone pitched you a startup that does genetic testing for cats? Sounds like a head-scratcher. ...

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What if someone pitched you a startup that does genetic testing for cats? Sounds like a head-scratcher. ...</p>\n\n<a href=\"https://finance.yahoo.com/news/stupid-idea-made-kevin-oleary-161526100.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1941712348.USD","symbol_name":"ALLIANZ PET AND ANIMAL WELLBEING \"AT\" (USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/stupid-idea-made-kevin-oleary-161526100.html","article_id":"2462943294","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2462943294","pubTimestamp":1724688926,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Kevin O’Leary, known as “Mr. Wonderful” on “Shark Tank,” made a crazy good bet on a wild idea. What if someone pitched you a startup that does genetic testing for cats?Sounds like a head-scratcher. Well, O’Leary thought so too. But he went for it anyway, and it turned out to be one of his best decisions.General Motors and other leaders revealed to be investing in this revolutionary lithium start-up — allowing easy entry by launching at just $9.50/share with a $1,000 minimum.In 2019, Basepaws, the cat DNA testing company, appeared on “Shark Tank.” Founder Anna Skaya was looking for $250,000 in exchange for 5% of her company. O’Leary and fellow shark Robert Herjavec both bit. They each threw in $125,000 for a 5% stake, valuing the whole company at $2.5 million.But Basepaws isn't the only time O’Leary struck gold on “Shark Tank.” His biggest dollar win?A meal-kit company called Plated, which Albertsons bought fo","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1941712348.USD":"ALLIANZ PET AND ANIMAL WELLBEING \"AT\" (USD) ACC","LU0056508442.USD":"贝莱德世界科技基金A2","LU0289739699.SGD":"AB INTERNATIONAL HEALTH CARE PORTFOLIO \"A\" (SGD) ACC","BK4532":"文艺复兴科技持仓","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0471298777.SGD":"Blackrock Nutrition A2 SGD-H","BK4515":"5G概念","LU1941712264.USD":"ALLIANZ PET AND ANIMAL WELLBEING \"A\" (USD) INC","BK4571":"数字音乐概念","LU0345774631.USD":"NINETY ONE GSF AMERICAN FRANCHISE \"A\" (USD) INC","BK4507":"流媒体概念","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4576":"AR","BK4575":"芯片概念","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0823414478.USD":"法巴经典能源转换基金","ZTS":"Zoetis Inc.","AAPL":"苹果","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU0385154629.USD":"贝莱德营养科学基金A2","LU0097036916.USD":"贝莱德美国增长A2 USD","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","BK4527":"明星科技股","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4574":"无人驾驶","IE00B3SWFQ91.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) INC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","BK4505":"高瓴资本持仓","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC"},"translate_title":"让凯文·奥利里获得20倍巨额回报的“愚蠢想法”：“这是一个如此疯狂的推销，我还是买了它","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ZTS":0.9,"AAPL":0.8},"content_text":"Kevin O’Leary, known as “Mr. Wonderful” on “Shark Tank,” made a crazy good bet on a wild idea. What if someone pitched you a startup that does genetic testing for cats? Sounds like a head-scratcher. Well, O’Leary thought so too. But he went for it anyway, and it turned out to be one of his best decisions.\nDon't Miss:\n\nGeneral Motors and other leaders revealed to be investing in this revolutionary lithium start-up — allowing easy entry by launching at just $9.50/share with a $1,000 minimum.\nDon’t miss out on the next Nvidia – you can invest in the future of AI for only $10.\n\nIn 2019, Basepaws, the cat DNA testing company, appeared on “Shark Tank.” Founder Anna Skaya was looking for $250,000 in exchange for 5% of her company. O’Leary and fellow shark Robert Herjavec both bit. They each threw in $125,000 for a 5% stake, valuing the whole company at $2.5 million.\nFast forward a few years, and O’Leary’s gamble paid off big time. On “The Daniel Mac Show,” he called Basepaws his biggest win percentage-wise from “Shark Tank.” He mentioned that he might have paid $50,000 for a 3.5% stake, which valued the company at just $1.4 million. But the real kicker? The company sold for a lot more than anyone expected.\nTrending: This startup aims to convince the FDA that Cannabis and Psilocybin can be a better alternative to synthetic pharmaceuticals on the market. Right now you can can invest in while it’s still less than $2/share.\nO’Leary had to keep the exact numbers under wraps due to a nondisclosure agreement. But he hinted that the deal was well over the publicly announced $50 million mark. Zoetis, a giant in animal health with an $80 billion market cap, scooped up Basepaws in the second quarter of 2022. Their earnings report showed they spent $93 million on acquisitions that quarter. Basepaws was the only named purchase.\nNow, let's do some quick math. Even if Zoetis only paid $50 million for Basepaws, O’Leary could have made around $2.5 million if he had a 5% stake. That's roughly 20 times his money. But if the deal was closer to the $93 million Zoetis spent, he might have walked away with as much as $4.5 million. That would have turned his $50,000 investment into a 90x return.\nTrending: A billion-dollar investment strategy with minimums as low as $10 — you can become part of the next big real estate boom today.\nSo why did Zoetis pay up? Basepaws was on a tear, expanding from just cat DNA tests to dog tests too. When Skaya first pitched to the sharks, the company had only done $200,000 in sales. But in the 18 months following the show, sales shot up to $3.5 million.\nO’Leary gives a lot of credit to Skaya. \"I invested in Anna for Anna,\" he said in a video, praising her knack for marketing and growing the business. She turned that little startup into a booming enterprise, and O’Leary's bet paid off in spades.\nBut Basepaws isn't the only time O’Leary struck gold on “Shark Tank.” His biggest dollar win? A meal-kit company called Plated, which Albertsons bought for about $300 million in 2017. O’Leary knows how to pick ‘em, even when the ideas seem a little out there.\nRead Next:\n\nA billion-dollar investment strategy with minimums as low as $10 — you can become part of the next big real estate boom today.\nDon’t miss the real AI boom – here’s how to use just $10 to invest in high growth private tech companies.\n\n\"ACTIVE INVESTORS' SECRET WEAPON\" Supercharge Your Stock Market Game with the #1 \"news & everything else\" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!\nGet the latest stock analysis from Benzinga?\n\nAPPLE (AAPL): Free Stock Analysis Report\nTESLA (TSLA): Free Stock Analysis Report\n\nThis article The 'Stupid Idea' That Made Kevin O'Leary A Massive 20x Return: 'It Was Such A Crazy Pitch, I Bought It Anyway originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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