Stakt Foldable Yoga Mat Update | Shark Tank Season 14

Millie Blumka and Taylor Borenstein came onto Season 14 of Shark Tank with a product that she thinks will revolutionize the fitness industry. Their company Stakt has developed a new innovative yoga mat that can fold, bend, and stack to provide varying levels of support during workouts. Millie and Taylor are seeking $100,000 dollars from the sharks in exchange for 10% equity in their company. Let’s see if they can strike a deal before we cover our Stakt update.

Shark Tank Stakt Update

• 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
• Sharks: Lori Greiner

Lori Greiner wanted to know about Stakt’s margins. Millie and Taylor quickly responded by telling her that the company’s landing costs for a single mat are approximately $21. Each unit is then sold to customers at a price point of $86 on average. All of the company’s sales are through the official Stakt website and any marketing has come solely from content creation on social media sites and video platforms.

Stakt had only existed for about six months and had done just over $100,000 dollars in gross revenue during that time. The sharks seemed pleased with those financial numbers and didn’t dive into them too deeply.

Daymond John was the first shark to speak up. He admitted that he probably wasn’t the right shark for this investment so he dropped out. Mark Cuban also dropped out quite quickly due to a conflict of interest.

Kevin O’Leary admitted that the entrepreneurs were very talented and that the company had potential. He concluded his thoughts by admitting that he would not be able to invest in this particular business.

The final shark remaining was Lori Greiner and she wanted to make an offer. Lori offered $100,000 for 15% equity and a $1 royalty until she made her $100,000 back. After some thinking an negotiating, they settled on the same deal, but with a $0.75 royalty. 

Now that we know a deal was made, let’s check in for a Stakt update.

Millie and Taylor have seen exceptional short-term growth in their sales numbers after airing on Shark Tank during Season 14. The duo will likely receive a big boost in sales from appearing on the show, and working with Lori should help them improve their brand, online presence, and possibly land a spot in some retail stores.

You can learn more about the innovative yoga mat by visiting their official website. We will have to wait for our next Stakt update to get some updated sales information!

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

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

Don’t forget to check out our Season 14 products page too!