Shark Tank Little Nomad Update
- Entrepreneur: Elizabeth Granados
- Business: Cute and stylish playmats
- Ask: $80,000 for 15% equity
- Result: No Deal
- Shark: None
Elizabeth sought to create an alternative to the foam mats already available on the market. She wanted something that was soft and safe, but also stylish and classy. The result was Little Nomad, foam playmats made to look like real rugs. After a successful Kickstarter campaign in June 2016, Elizabeth was hoping that the sharks would help her get Little Nomad into mass retailers.
According to Elizabeth, she managed to pre-sell $114,000 worth of Little Nomad mats through her Kickstarter campaign in less than four months. However, she hasn’t shipped anything yet. She also revealed that she had a $100+ markup per unit, saying that each $139 unit only costs her $16.39 to manufacture.
Mark Cuban complemented her great margins. He thought she should go direct-to-consumer online. Unfortunately, it appears that only Mark was a fan of the product. The other sharks were hung up on just how expensive it was.
Robert Herjavec and Kevin O’Leary didn’t like the idea of going into retail either because of how much space the product took on shelves. Elizabeth insisted that retail was important to help get Little Nomad on baby gift registries.
In the end, Elizabeth could not find a willing investor. Daymond John thought it was too expensive. Mark didn’t think she needed a partner. Kevin felt the price of the mat was too high while Robert thought it was too early to invest. Meanwhile, Lori Greiner liked the product but went out because of what her “gut” was telling her.
Despite not landing a deal in
Later on, Elizabeth went ahead and launched the NamaMat for kitchen use and eventually rebranded Little Nomad to “The House of NOA.” Afterward, she introduced new products like a portable high chair mat, exercise mat, and table/placemat. Finally, in 2021, she added washable rugs to her company’s list of products.
As of the time of writing our Little Nomad update, Elizabeth’s company is still going strong and has shown no signs of slowing down.
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