DNAsimple from Shark Tank

DNAsimple shark tank

DNAsimple is a DNA matchmaking platform that is 100% anonymous and lets the owners decide which research study they want to become a part of.

DNAsimple is a modern procedure for the genetic research world, and the company pays people to provide their DNA samples for research studies.

It is also a convenient and feasible option for researchers, so they do not have to undergo complex procedures to obtain DNA samples for their studies.

What Do They Do?

To become a donor, a person needs to sign up for an account at DNAsimple and then provide their demographic information like height, weight, and age.

The person is required to fill out a medical history form, and the system checks available research studies in which the donor can participate.

Suppose there are no current studies available for which the donor qualifies. In that case, DNAsimple will notify them whenever a research study is open and inquire whether or not the donor wants to participate.

What Makes Them Unique?

DNAsimple allows the donors to donate their DNA using a convenient saliva kit. The donor is then compensated whenever they agree to participate in a research study.

Not only do people with certain medical conditions participate in the DNAsimple procedure, but healthy individuals can also donate their saliva to become control groups in those research studies.

DNAsimple also organizes DNA samples of people belonging to diverse ethnic groups for various research studies that need to test DNA samples.

Are They Still an Active Company?

The company is still in business. Like Olivier predicted in 2018, the world headed towards a pandemic that scaled the company. DNAsimple garnered over 1 million samples from the USA and Canada

How Did the Shark Tank Pitch Go?

Olivier Noel appeared on Shark Tank seeking $100,000 for 12.5% equity in his company, DNAsimple.

Olivier believed that the world was headed toward a catastrophic pandemic that could devastate humanity, making medical research a dire need. That is why he founded the company DNAsimple which will make genetic research studies ten times faster and more convenient for scientists and donors.

The company DNAsimple pays donors for their saliva samples, and the whole procedure is anonymous and happens in four steps. First, the donor adds his basic demographic information on the DNAsimple website. Next, the system matches their info with existing research studies in which they can participate.

The company then ships a saliva kit to the donor’s house with pre-paid stamps and compensates the donor with $50 after they return the saliva sample.

People can go through this procedure any number of times they want, and researchers can also benefit from it. Typically researchers have to spend large amounts of money going through complex processes to gather enough samples for their research studies.

Olivier explained that a person only receives $50 if they match a research study that needs their saliva sample. If they fit for more than one study, they will be compensated every time.

Lori inquired how the company decides that the information provided by the donor is accurate, and Olivier explained that they leave it to the researchers to determine the “burden of proof” that is required for the donor to give.

When a person reaches out to the company to participate in a research study, the company asks the researchers about the kind of study and fact-checks that would assert that the donor matches their required profile.

Olivier used to live in Haiti, but after the earthquake, he had to move to New York because his family used to live there. He worked five jobs in college and finally graduated with honors in biomedical science research at Queens College.

He tutored French, math, chemistry, Spanish, and biology and worked at Fossil and American Eagle.

Richard was impressed with Olivier’s passion and offered him $100,000 for 25% equity.

Mark said he wanted to make an offer, but he wanted a yes or no answer on the spot. He would give Olivier $200,000 for 20% equity. Olivier wanted to listen to other offers, but Mark refused, saying that if he wanted him on board, he must give a straight answer immediately.

Olivier asked whether Mark would come down to 15% equity, and Mark immediately agreed.

Our Review of DNAsimple

DNAsimple makes genetic research studies simple and convenient for donors and researchers. They pay the donors for their saliva samples, and the researchers quickly get various DNA samples without spending much money. The company gets paid for making the whole procedure happen smoothly.

Pros of DNAsimple

  • Simple and easy process
  • Excellent compensation for a single saliva sample
  • The company literary pays you for your spit
  • Anyone can contribute to a research study to help millions of people.

Cons of DNAsimple

  • Some people never received their kits from the company and hence got no compensation for their saliva samples.

Who Is DNAsimple For?

DNAsimple allows people to participate in ongoing scientific research studies while fairly compensating for that. DNAsimple aims to revolutionize the way genetic reach takes place and bring even better treatments for millions of people through improved genetic studies.

Are There Any Alternatives?

  • 23andMe

Our Final Thoughts

DNAsimple Company works as a middleman between people who want to donate their DNA to researchers to help the world through improved genetic studies. Researchers who struggle with getting enough DNA samples for their research studies also benefit from the company. The successful partnership with Mark Cuban acted as a stimulus to grow the company to new heights, as the world indeed faced a catastrophic pandemic, as predicted by Olivier in his Shark Tank pitch made in 2018.