Olivier Noel’s business, DNA Simple, was created to aid and optimize medical research and help prevent a future pandemic. How, you may wonder? Through helping speed up finding sample groups for many studies. Will the shark find a match? Check out our
Shark Tank DNA Simple Update
- Entrepreneur: Olivier Noel
- Business: DNA kits for research studies that pay consumers $50
- Ask: $100,000 for 12.5% equity
- Result: $200,000 for 15% equity
- Shark: Mark Cuban
The business works by medical research teams reaching out to DNA Simple to find sample groups for research studies. The research teams then pay DNA Simple $150 per person they get.
Participants then fill out a questionnaire and if they qualify for the study, receive a DNA kit. Upon return of the kit to the company, each participant is compensated $50. The only cost to DNA Simple is the $12.50 it costs to make and ship the kit.
Olivier has proved he has the hustle mindset having worked many jobs at a time and graduating from medical school with honors after immigrating from Haiti, which impressed the sharks. When arriving at the tank, Olivier had sold over $30,000 worth of product and made the Forbes 30 under 30 list.
Because of his medical background, he knows what researchers want, but doesn’t have the database he needs. He understands some demographics are hard to find in different areas of the country. Thus, this led him into the tank.
Guest shark, Richard Branson, offered $100,000 for 25% equity. Mark Cuban followed that by offering $200,000 for 20% and wanted an answer immediately. Olivier wanted to listen to other offers, Mark said no.
Olivier countered Mark with $200,000 for 15% and they made a deal.
At the time of this
Because of the
Since Oliver is no longer accepting new sign-ups and the Facebook page hasn’t been updated in a while, it’s unclear if the company has gone out of business or if they’re simply not accepting new participants right now. If we get more news, we will be sure to give you another DNA Simple update.
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!