MorningHead Shark Tank Net Worth 2023
Morninghead appeared on Shark Tank in 2014 and pitched their shower cap for hair that you can put in. The founder, Max Valverde, was seeking $25,000 for 20% equity, implying a valuation of $125,000.
However, the Sharks did not view it as a viable business and Max went home empty-handed. Despite not getting a deal, the business is still running eight years later and is worth an estimated $200,000 as of 2023.
Morninghead mostly runs on autopilot with Amazon fulfillment and Max’s wife also helps out.
Morninghead has experienced tremendous growth and success since appearing on Shark Tank. They have secured additional funding and partnerships. Although it may not be a million-dollar business, it is still selling well without any social media presence.
What is MorningHead? Who if the Founder of MorningHead?
MorningHead is a device that resembles a shower cap and collects water to moisturize unruly hair when applied to the user’s head. Max Valverde, the inventor of MorningHead, traveled from Boston, Massachusetts to introduce the product.
This gadget allows users to hydrate their hair without taking a shower. All they need to do is add water to the MorningHead cap, put it on their head, and massage their hair. It has been reported to be effective for those who have bad hair days.
However, critics have expressed concern that the device may not dry out completely, leading to lice infestations. They have also criticized its high fat content, which may cause an unpleasant odor, and its lack of effectiveness for those with long hair.
Despite the criticisms, MorningHead has been released in limited quantities in Massachusetts and is priced at $29.99 in stores in Boston.
Max Valverde plans to make it available nationwide once the product’s quality is stable enough for commercialization.
Max Valverde, the founder of MorningHead, has a degree in computer science from Boston University and previously worked at Microsoft for three years.
He hopes to secure funding for his project on the television show Shark Tank and plans to focus on developing more products related to the MorningHead cap.
Clinical tests have been conducted on the cap, and Max Valverde is optimistic that it will be picked up by major retailers.
He launched the company through a Kickstarter campaign in February 2012, and the product is now available for $10.99 on Amazon or the company’s website.
MorningHead Shark Tank Pitch
Max is likely searching for a partner from the show Shark Tank who can help with distributing his product to national chains.
He brings his product, MorningHead, to the show and proposes a deal for a $25,000 investment in exchange for a 20% stake in his company.
During his pitch, Max demonstrates how his product makes combing hair smooth and effortless. He also shares that he has already sold 7,000 units in 42 countries within 18 months of being in business.
He has marketed the product through his own website and films, gaining 165,000 views.
Max believes that if he can increase production quantities for MorningHead caps, he can reduce production costs to $1 and increase profits.
His pitch captures the Sharks’ attention, but Mark Cuban is the first to opt out of the deal, followed by Barbara Corcoran, Robert Herjavec, Daymond John, and Kevin O’Leary.
Despite not closing a deal on the show, the MorningHead Company is still in operation and has increased its sales through other websites like Amazon.
The company has also partnered with other businesses to increase its revenues. The product is set to be available on Amazon in 2021.
While Fare Harbor, Max’s other company, is doing well, MorningHead remains a novelty side company at this time, with annual revenue of less than $100,000.
Net worth of MorningHead
The company valued is netted to $100,000 in 2021.
What is MorningHead?
MorningHead is a device which will be used to hold water in user’s hair after being applied on the head.
It works as a shower cap, but its goal is not to protect their hair from showers, but instead to moisten their hair so they don’t have to take a shower every day.
It offers the advantage of not having to wash their hair every day, but taking time instead to use MorningHead.
Who is the Founder?
The company headquarters are based in Boston, MA, and the Founder is Max Valverde.
The company was founded by Max Valverde in February 2012, and he has been working on this firm since then.
What is their offer on Shark Tank?
He was asking for 25,000 dollars in exchange for 20% stake in his firm.
Is the offer close after the pitch on Shark Tank?
After the pitch on Shark Tank, there were no deals made between the shark investors, and MorningHead Company.
What is their net worth?
Their net worth was valued at $100,000 in 2021.
What are their reviews on the Internet?
Their reviews are not that good. Some reviews say that it is not effective for people with long hair. Some reviews also say that it causes lice.
What is the Product?
MorningHead is a shower cap-like device that collects water before being applied to a user’s head to cure their unkempt hair.
What are Max’s plans for the MorningHead cap?
Max plans to improve the cap by making it more compact so it can be used for other purposes, such as cleaning teeth.
This is because many people have problems with their teeth while brushing their teeth in the morning. So they use the cap without knowing what to do with it.
Is still in business?
Yes, the business is still in operation.
Is the Cap for $10.99 available on Amazon?
The cap is available on Amazon for $10.99 with free shipping.
What are their strengths?
Max and his team have significant strengths, including: Max is an entrepreneur who has a passion to make the world a better place in terms of hair and teeth. He made his own product and has worked with other companies to get more sales.
The company already has customers around the world, which is a great advantage for the firm to be able to work on its goal.
What are their weaknesses?
Their main weaknesses include: They need more investment in order to optimize the cap design to increase sales.
Is safe to buy from their website?
Yes, because the items are shipped from within the U.S.
What are their plans to get more sales in the next year?
Their plans for sales in the next year include: They want to continue working on improving their product, and increase their presence in online stores, which would make it easier for them to sell more items.
How do they make money?
They make money through selling their products through different businesses like e-commerce sites like Amazon.