Connect with us

Headlines

Pet Food Startup Appears On ‘Shark Tank,’ Gets $550K Investment from Mark Cuban

The money comes from Mark Cuban.

mm

Published

on

BERKELEY, CA — Wild Earth, a biotech startup company focused on pet food, announced that it has accepted an investment of $550,000 from serial entrepreneur, investor and owner of the Dallas Mavericks Mark Cuban on the ABC hit SHARK TANK. The episode premiered Sunday, March 17, and is available on demand at ABC.go.com for a limited time.

Cuban’s interest in Wild Earth stems from both his belief in scientific/technological solutions and his concern for environmental sustainability. Upon pitching the Sharks, Wild Earth had raised $4 million from both leading Silicon Valley and impact investors. Cuban’s ownership stake in Wild Earth is 10 percent.

“There’s an enormous potential market for lower-cost, sustainable protein to feed the growing worldwide pet population and Wild Earth is now the alpha dog in this space,” Cuban said.

Wild Earth’s treats, and its upcoming food for dogs, are made from eco-friendly and renewably sourced Koji (Aspergillus oryzae). Koji is a complete protein containing all ten essential amino acids dogs need, and requires dramatically fewer resources than farming animals to produce the same nutritional value. With 25-30 percent of meat’s environmental impact in the U.S. attributed to pet food, Wild Earth is developing alternatives to ensure we can sustainably nourish more than a billion pets by 2050.

“The Sharks were understandably tough on me, and questioned the need to create healthier and more sustainable products for our pets, but Mark, the biggest Shark of them all, understood our mission and the massive opportunity best,” said Wild Earth CEO Ryan Bethencourt. “Mark and his team’s impact has already been huge — since their investment, we’ve successfully launched our first three products and gone nationwide both online and in retail.”

Cuban, owner of the 2011 World Champion Dallas Mavericks and the bestselling author of “How to Win at the Sport of Business,” is owner and chairman of AXS TV (www.axs.tv). He co-owns the Landmark Theater chain, Magnolia Pictures, and Magnolia Home Video; founded HDNet, Broadcast.com, and MicroSolutions; other successes include Mahalo, JungleCents.commotionlift.comFilesanywhere.com, Naked Pizza and 140Fire.com. For more information visit markcubancompanies.com.

Advertisement

Wild Earth’s Good Protein Dog Snacks are free of animal ingredients, antibiotics, growth hormones, artificial preservatives, artificial flavors, artificial colors, additives, fillers, and mystery ingredients. The veterinarian-developed formula offers omega fatty acids, digestion-boosting enzymes, and prebiotics to support gastrointestinal microbiomes.

Wild Earth treats are available in five-ounce bags online at WildEarth.comAmazon.com, at select brick-and-mortar retail stores, and wholesale to pet food retailers.

Advertisement

FEATURED VIDEO

JIM ACKERMAN

Digital Marketing Is Great, but It Can’t Solve All Your Problems

You’ve probably been hearing experts talk about digital marketing as if it would be a panacea for pet-business owners, says marketing specialist Jim Ackerman. But for most owners, it hasn’t worked out that way. In this video, Ackerman explains why digital advertising should be just one arrow in your marketing quiver.

Promoted Headlines

Headlines

State Bill Would Ban Pet Leasing

A few other states already have similar laws.

mm

Published

on

A proposed law in Connecticut would ban the practice of pet leasing.

The legislation seeks to outlaw leases in which the new pet owners accept high interest rates and believe they are agreeing to a payment plan, the Connecticut Post reports.

Such agreements open the possibility of the pet being repossessed at a later date, according to the publication.

The state Senate approved the ban last week. The proposed legislation will now be considered in the state House.

Bob Duff, a Democrat serving as Senate majority leader, said: “As a pet owner myself, I could never imagine leasing a pet and then after six or nine months or whatever it is, giving it back. They might actually think they own the pet instead of leasing the pet.”

According to the Post, pet leasing has already been banned in Nevada, California and New York.

The Connecticut proposal would still allow for certain types of pet leases, including “those for breeding purebred dogs, renting show animals or obtaining guide or law enforcement dogs,” according to the Post.

Find out more at the Connecticut Post 

Continue Reading

Headlines

Chewy to Open $55M Facility, Creating 1,200 Jobs

It’s planning a fulfillment center.

mm

Published

on

Chewy, an online pet supply retailer, has selected Rowan County, NC, for its new fulfillment center, with plans to create 1,200 new jobs and invest $55 million.

“Chewy selected North Carolina because from our infrastructure to our workforce, we have everything businesses need to succeed,” said Gov. Roy Cooper. “These new jobs will make a positive impact on Rowan County and the surrounding area.”

The e-commerce company will locate in Salisbury, NC.

Chewy is dually headquartered in Dania Beach, FL, and Boston, MA. It has customer service centers in Dallas, TX, and Hollywood, FL, and eight fulfillment centers around the country.

“We’re excited to expand Chewy’s fulfillment operations to North Carolina, our first in the state and ninth in the country,” said Pete Krilles, vice president, corporate real estate and facilities, for Chewy. “We greatly appreciate the partnership with the City of Salisbury, Rowan County, the Salisbury-Rowan Economic Development Commission, North Carolina Department of Commerce, and the Economic Development Partnership of North Carolina.

“We look forward to making a positive economic contribution to the region with the creation of 1,200 new jobs. In addition to job creation, our new fulfillment center will enhance our delivery network across the southeastern United States, allowing us to better service Chewy customers with even faster delivery times.”

“Companies like Chewy will find success in North Carolina because we have a strong workforce and desirable business climate,” said Secretary of Commerce Anthony M. Copeland. “Pair that with our location and quality of life and you’ve got a winning formula.”

The North Carolina Department of Commerce and the Economic Development Partnership of NC were instrumental in supporting the company’s expansion decision.

A performance-based grant of $166,650 from the One North Carolina Fund will support the creation of 150 of the new jobs, facilitating Chewy’s establishment of the facility in North Carolina. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and any award is contingent upon that condition being met.

Continue Reading

Headlines

Pet Store Chain Files for Bankruptcy

Its owner died in January.

mm

Published

on

Petland Discounts, a chain that operated in New York, Connecticut and New Jersey, has filed for Chapter 7 bankruptcy.

The action follows the January death of the company’s owner, Neil Padron.

The company has closed its stores.

Notices with each of the three states’ labor departments indicated that more than 300 jobs could be lost across 70 store locations.

The bankruptcy petition was filed in New York Eastern Bankruptcy Court.

Advertisement

Padron started the business in 1965. He died of bladder cancer on Jan. 14.

Details of the bankruptcy case are available here.

Continue Reading

Most Popular