Massachusetts native, Melissa Clayton, created The Matte to solve her bathroom storage problems. The sleek, compact, and foldable surface could just as easily be packed away as it could be deployed, which is why Melissa decided to bring it into the
Shark Tank The Matte Makeup Organizer Update
- Entrepreneur: Melissa Clayton
- Business: Compact and foldable working area for makeup and other products
- Ask: $100,000 for 20% equity
- Result: $100,000 for 33.3% equity
- Shark: Lori Greiner
Melissa headed into the
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Unfortunately, the other sharks did not share the same enthusiasm with The Matte as Melissa did. Most struggled with the concept. Many believed that the product was too niche in a market that wasn’t large enough, to begin with. Another criticism was that The Matte didn’t really convey what the product was and how it could be used.
Lucky for Melissa, Lori Greiner saw the value in The Matte. However, she wanted a stake that reflected how much value she also brought into the product. As a result, she asked for a higher equity stake of 33.3% in exchange for the same amount of money, $100,000, and was not willing to entertain any counteroffers. After spending a little time thinking about it, Melissa accepted Lori’s offer and walked away from the
So, what’s next? How did Lori blow up Melissa’s product and company? Well, we’ve got good news for those looking forward to hearing The Matte Makeup Organizer update. Almost immediately after the show aired, Melissa saw an influx in sales and support, with many people from the Boston community inquiring about potential product partnerships and internships.
Unfortunately, we don’t have sales figures to show for our The Matte Makeup Organizer update but between Lori and Melissa, you’d best bet that the next time we’ll be hearing from The Matte, the sales will have increased exponentially from the $200,000 lifetime revenue that the product made prior to appearing on
In the meantime, be sure to check out updates for some of the other companies featured on Season 12 Episode 20:
- The Cheese Chopper Update
- OpulenceMD Beauty Magnetic Lashes Update
- FurZapper Pet Hair Remover Update
For more on