Getting reading in the morning can be an unorganized and messy task for most women. Without proper counter space in the bathroom, there’s nowhere to put products and supplies. Because of this, Melissa Clayton has created a sleek, compact foldable surface to solve this problem. Will she get a deal on
If you’re short on time, here’s a quick overview of what happened to The Matte after
The Matte appeared on
|Accepted deal for $100,000 for 33.3% equity
Shark Tank The Matte 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
Create your own beauty counter in an instant over your bathroom sink or bring The Matte with you when you travel for small hotel rooms or have limited bathroom space
Lori Greiner asks Melissa to share her story. Melissa says that she grew another successful company in the jewelry industry, but always had the vision for The Matte.
Now that her other company is doing so well, and her employees essentially keep it going, she has time to invest in this product. Although, right off the bat, Melissa admits that marketing is not her strong suit.
So far, all she’s done is market the product by using word of mouth and influencers, as well as organic methods. That said, she’s been quite successful so far.
In the 30 days prior to filming, she’s done $20,000 in sales. Additionally, overall lifetime sales have been $200,000 in a 3-year period.
Most of her sales have come from Amazon, her own website, and one third-party retailer. In the year prior, she did $85,000 in revenue.
The product sells for $24.99, and it costs $7 landed to produce.
Kevin O’Leary speaks up at this point in the pitch and makes it known that he is not at all interested, so he’s out. Melissa responds that her product is much more understood by women than men.
Mark Cuban is next and says he sees beauty products all over the rooms of his teen daughters, so he gets the problem. That said, it’s not the right investment for him, so he too is out.
Barbara Corcoran, like Mark, understands the need for the product but doesn’t see it as investable. For that reason, she is also out.
Guest shark Kendra Scott likes the idea of the product but feels that Melissa still has work to do on perfecting it. So, she is out too.
Last but not least, Lori thinks it’s a great solution for those with small bathrooms, but feels she will have to do a lot of work to improve it. Despite some concerns, she offers Melissa $100,000 for 33.3% equity in her company.
Melissa counters Lori with 25% equity, as she feels her valuation is justified. However, Lori rejects the counter and settles on her original offer.
Finally, Melissa accepts the original offer and leaves
We have great news to share in The Matte update. The company is still in business and has managed to reach over $6 million in lifetime sales!
Almost immediately after the show aired, Melissa saw an influx in sales and support and has continued to grow ever since.
This product comes in pink or black on The Matte website, and they even offer a travel bag for it. It’s also available on Amazon and has hundreds of positive reviews, so be sure to grab one for yourself or someone else as a gift!
If we get more news on a The Matte update, we will let you know!
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
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!