Mark Cuban's 'Shark Tank' Co-Stars Annoyed Him Into Investing In Austin-Based Company Offering Color-Changing Cat Litter: 'I'm So Tired Of This'

In a recent episode of “Shark Tank,” Ramon van Meer, the CEO and founder of Genius Litter, managed to secure a deal with Mark Cuban after a heated bidding war among the investors.

Why It Matters: The Austin-based company, which offers color-changing cat litter to alert pet owners of potential illnesses, was initially met with skepticism from Cuban. However, a bidding war between the other investors led Cuban to change his mind, reported CNBC.

Despite the competition, van Meer stood his ground and negotiated with the investors. Ultimately, he accepted an offer from a trio of investors, including Cuban, Lori Greiner, and Robert Herjavec, even though it meant giving up an additional 2% in advisory shares.

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After a series of counteroffers, Cuban expressed frustration “… I'm so tired of this, I'll do $250,000 for 8%. But you've got to say yes right now," Cuban said. Van Meer ultimately accepted the offer from Greiner, Herjavec, and Cuban.

“They all have different types of expertise and networks, and I think it’s going to be great,” said van Meer, adding, “I can’t wait to work with them.”

Why It Matters: This news comes after Cuban announced his exit from the popular TV show "Shark Tank." Cuban unveiled his decision during an interview with the Showtime podcast ‘All The Smoke.' He told hosts Matt Barnes and Stephen Jackson that the current 15th season of ‘Shark Tank’ would be his penultimate.

Last month, Cuban also saw one of his investments take a turn for the worse after Sorfeo Inc., a Northern Virginia-based startup, filed for Chapter 7 bankruptcy. The filing, signed by Sorfeo co-founder and director Mark Lewyn and Alexandria attorney Kevin O’Donnell, revealed secured claims totaling $3.84 million and unsecured claims of $1.04 million. Among the creditors is Cuban's Radical Investments LP, with a secured claim of $1.263 million.

Cuban last week took part in an unplanned ask-me-anything on social media platform X. In the conversation with X users, Cuban shared his thoughts on Elon Musk, social media, healthcare, sports and cryptocurrency.

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