Stakt Foldable Yoga Mat Update | Shark Tank Season 14

Millie Blumka and Taylor Borenstein came up with the idea for Stakt while working out at home during the COVID-19 pandemic. They realized that their regular yoga mats didn’t provide enough support or flexibility for their intense fitness routines. This frustration led them to design a thicker, foldable mat that could handle a wider range of exercises. Let’s see if they can strike a deal with any of the sharks in our Stakt update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Stakt after Shark Tank.

Millie and Taylor entered Shark Tank Season 14, seeking $100,000 for 10% equity in Stakt. After their pitch, they secured a deal with Lori Greiner for $100,000 for 15% equity and $0.75 royalty.

In terms of a Stakt update, the company expanded its reach through platforms like Equinox and Amazon. Furthermore, they also introduced new products and earned recognition by making TIME’s Best Inventions of 2023 list. Stakt has an estimated net worth of $660,000 and annual revenue of $110,000.

Shark	Result
Lori Greiner	Accepted offer of $100,000 for 15% equity and $0.75 royalty
Kendra Scott	No offer
Mark Cuban	No offer
Kevin O’Leary	No offer
Daymond John	No offer

Shark Tank Stakt Pitch

• Entrepreneurs:  Millie Blumka and Taylor Borenstein
• Business: Foldable Yoga Mats
• Ask: $100,000 for 10% equity
• Result: $100,000 for 15% equity and $0.75 royalty
• Shark: Lori Greiner

Millie and Taylor introduced Stakt to the sharks, their reinvention of an everyday workout accessory.

They sought an investment to scale their business, boost marketing efforts, and establish Stakt as a leading brand in the premium fitness mat market.

The Stakt mat uses durable EVA foam to elevate workout experiences.

Unlike standard yoga mats, the Stakt mat features a unique folding design, allowing easy storage and portability—especially convenient for those with limited space.

This foldable design also offers versatility, as users can adjust the mat’s thickness to suit various exercises, such as yoga, Pilates, and strength training.

Additionally, water-resistant materials make the mat durable and easy to maintain.

The surface is firm and non-slip, designed to ensure stability during difficult poses or high-intensity activities.

Its cushioning delivers excellent joint support, particularly for sensitive areas like knees and wrists.

When Lori Greiner asked about pricing, Millie explained that each mat, including packaging and a strap, costs $14.90 to produce, with a total landing cost of $21.50.

The retail price is $86, reflecting a substantial profit margin.

For marketing, Millie and Taylor rely heavily on organic content shared on social media and video platforms, which has effectively driven awareness without requiring paid advertising.

In just six and a half months, the company generated over $110,000 in revenue, all without spending on marketing.

Daymond John inquired about their personal investment, and Taylor shared that they had each contributed over $25,000 from their savings.

Kevin O’Leary asked if Stakt was their full-time focus, and the pair confirmed that they were juggling full-time jobs while building their business to fund its growth.

Despite seeing potential, Daymond admitted he didn’t fully understand the market and decided to step out.

Mark Cuban also declined, citing conflicts with Bala, another high-end fitness equipment company he invests in.

Kendra Scott also raised concerns about the limited frequency of repurchases, as yoga mats are often long-term investments for customers, and opted out.

Kevin acknowledged that the business wasn’t the right fit for him and exited the negotiations.

Impressed by the mat’s design and versatility, Lori offered $100,000 for 15% equity with a $1 royalty per unit until she recouped her investment.

Millie and Taylor expressed concerns about the impact of royalty on their growth and countered with $100,000 for 20% equity with no royalty.

Lori countered again with $100,000 for 25% equity, but the entrepreneurs proposed $150,000 for 22.5% equity.

Lori declined but presented a final offer: $100,000 for 15% equity and a $0.75 royalty per unit until repayment. Millie and Taylor accepted this deal.

Was this the right move for Millie and Taylor? Find out in our Stakt update.

Shark Tank Stakt Update

Our Stakt update found that the deal with Lori Griener did not close.

Despite this, the company expanded its offerings with a carrying case, branded mat cleaner, and grippy socks. Their products were also recognized on TIME’s Best Inventions of 2023 list.

In May 2023, our Stakt update found that they partnered with The Sculpt Society to launch a co-branded mat called The Sculpt Society X Stakt Mat. It is priced at $86 and comes in Ice Blue.

They also developed an online yoga class library to help reach new users.

Products are available on the Stakt website, along with Equinox and Amazon.

As of the time of writing, Taylor is fully dedicated to Stakt, while Millie continues to balance a regular job alongside her work with the company.

The future is looking bright for our next Stakt update!.

For more updates fromShark Tank Season 14, Episode 3, check the links below!

• Halloween Moments Update
• Mama O’s Update
• Create a Castle Update

Before you go, check out our Shark Tank Season 14 page for more updates