The Last Lid Shark Tank Net Worth 2023
During their appearance on Shark Tank, the Kiernans pitched their company and were seeking a $40,000 investment for a 20% stake in the business. This would have given their company a valuation of $200,000.
However, Daymond saw potential in the Last Lid product and offered the Kiernans $40,000 for a 60% stake in the company. If the Kiernans accepted Daymond’s offer, it would value Last Lid at $666,666.66.
Despite giving up a larger stake in their company, the Kiernans accepted Daymond’s offer, as they believed his expertise and connections in the industry would help them take their business to the next level.
This deal would also give Daymond a majority share in the company, allowing him to take a more hands-on approach to help grow the business.
What is The Last Lid? Who Founded The Last Lid?
The Last Lid is a durable cloth lid for garbage cans that can be reused and adapted to fit any container. It is designed to be waterproof and prevent wild animals such as raccoons from accessing the garbage, as well as keep the contents contained in case of the trash is knocked over.
Kevin and Melissa Kiernan, a married couple, created the Last Lid. Melissa has a Bachelor’s degree in Arts and Sciences from the University of Hartford and previously worked as an event organizer.
She now works as a real estate agent for a company in New Jersey. Kevin has a Bachelor’s degree in Business from Villanova University and has a background in sales and information technology, with a specialization in automotive demands.
His LinkedIn profile indicates that he is currently involved in creating patented products to cover holes in certain areas.
The idea for the Last Lid came about when the couple noticed their garbage bin lid was frequently knocked over by wild animals, leaving a mess.
After the cover disappeared one day, Kevin decided to create his own, using video surveillance of the offenders to improve the product.
With a prototype design and a solid business strategy in place, the couple sought investors to support their pre-revenue product.
The Last Lid Shark Tank Pitch
Kevin and Melissa expressed their confidence in their product before entering the Shark Tank, indicating their belief that it would be stocked in every store.
The Kiernans were seeking a $40,000 investment for a 20% stake in the company, which would value the company at $200,000.
At the time of their pitch to the Sharks, Kevin and Melissa were still in the prototype stage and had not made any sales. However, their product was unique in the market, as there were no other universal garbage can lids available.
The Sharks had mixed reactions to the product. Robert Herjavec was not interested due to the cloth cover and its perceived lack of value, while Lori Greiner appreciated the Kiernans’ enthusiasm but did not believe in the product.
Mark Cuban raised concerns about the cost and potential profitability of the product but saw the potential for development in the future. Kevin O’Leary was dissatisfied with the profit margin and declined to invest.
Daymond John loved the product and requested that the Kiernans come up with a better offer. Kevin eventually offered $40,000 for a 60% stake in the company, which Daymond accepted.
The Last Lid has faced challenges with online sales and getting the product onto store shelves. The Kiernans had discussions with at least one corporation about licensing the product, but nothing came of it.
In 2015, the company was sold to a big retail firm in the garbage can manufacturing vertical, according to Kevin’s LinkedIn page.
The product is no longer in stock, and the Kiernans have gone their separate ways, with Kevin owning a product development firm in New York City and Melissa working as a realtor in New Jersey.
The Last Lid Net Worth
The Kiernans were looking for $40k for a 20% stake in the company. This equates to a $200,000 value. The couple accepted an offer from Daymond of $40,000 for a 60% stake. This shows a valuation of $666,666.66
The Last Lid Shark Tank Updates
The Last Lid is a product created by Kevin and Melissa Kiernan, a married couple from Waldwick, New Jersey, to solve the problem of wild animals knocking down their trash cans and making a mess.
The Last Lid is an adjustable, water-resistant, heavy-duty fabric, replacement trash can cover that is unique in the marketplace. The Kiernans pitched their product on Shark Tank in episode 303, seeking $40,000 for a 20% share in the business.
The Sharks were impressed with the product, but Daymond John was the only one who made an offer. He asked the Kiernans to come up with a better number, and they gave another pitch of $40,000 for 60% equity in exchange, which Daymond accepted.
After the show, the deal made on the platform was finally closed with Daymond John. Daymond and the Kiernans tried TV commercials, but the result took a bit longer. Daymond also produced an online video about their direct-to-consumer concept of selling from The Last Lid’s official website.
The Last Lid was featured on a recap episode of Shark Tank following the company’s rapid growth and development as a business.
The company has since sold thousands of pieces, and Kevin Kiernan has spoken in schools, encouraging students to pursue their dreams and not be intimidated by the prospect of becoming an entrepreneur.
The Last Lid was eventually sold to a major retail company in the garbage can manufacturing vertical. The company is no longer available, and the Kiernans were separated for a few years and finalized their divorce in July 2022.
The Last Lid has already been featured in one update earlier in 2023 in Season 4 and will again be on the Shark Tank rerun on December 7th.
The Last Lid Shark Tank Table Summary:
| ASPECT | INFORMATION |
| Product | The Last Lid is a durable, cloth lid for garbage cans |
| Founders | Kevin and Melissa Kiernan |
| Shark Tank Pitch | Seeking $40,000 investment for a 20% stake in the company |
| Valuation | $200,000 for 20% stake; $666,666.66 for 60% stake |
| Shark that Invested | Daymond John |
| Updates | The Last Lid was sold to a major retail company |
| Net Worth | Not available as the company is no longer in stock |
The Last Lid Competitors
There is no competitor.
The Last Lid FAQS
What Is The Last Lid Shark Tank?
The Last Lid is a reusable garbage can lid made from a durable fabric that can be washed and reused. The product was designed to fit any trash can cover and keep pesky raccoons and other critters from spilling trash all over the place.
The Last Lid was pitched on Shark Tank by husband and wife entrepreneurs Kevin and Melissa Kiernan in Season 3 Episode 5. They were seeking $40,000 for a 20% share in the business. At the time of their pitch, the couple had no sales, but the product was unique in the marketplace.
Daymond John made a deal with The Last Lid after three months following their Shark Tank appearance. They created an infomercial featuring Daymond John, who agreed to let his image be used for promotional purposes on his behalf.
The company became a quick success after starting and reaching its goals quickly. The Last Lid was featured on a recap episode of Shark Tank following the company’s rapid growth and development as a business. The company has since sold thousands of pieces.
The Last Lid created an online video to sell products directly from their website following the partnership with Daymond. However, online sales have been disappointing.
The Kiernans and Daymond are working on improving their online sales. Kevin Kiernan has also spoken in schools, encouraging students to pursue their dreams and not be intimidated by the prospect of becoming an entrepreneur.
How Does The Last Lid Shark Tank Work?
The Last Lid is a product that was pitched on Shark Tank by husband and wife entrepreneurs Kevin and Melissa Kiernan in episode 303.
The product is an adjustable, water-resistant, heavy-duty fabric, replacement trash can cover that fits any trash can cover and keeps pesky raccoons and other critters from spilling trash all over the place.
The Kiernans were seeking $40k for a 20% share in the business, and Daymond John made a deal with them.
After the Shark Tank appearance, The Last Lid became a quick success and reached its goals quickly. The company has since sold thousands of pieces and was featured on a recap episode of Shark Tank following the company’s rapid growth and development as a business.
The Kiernans and Daymond are working on improving online sales, which have been disappointing so far.
The Last Lid is a reusable garbage can lid made from a durable fabric that can be washed and reused. It is superior to any lid on the market and is guaranteed to keep the family of raccoons in your neighborhood out of your trash, thus eliminating several problems with a single solution.
What Happened To The Last Lid After Shark Tank?
The Last Lid is a universal garbage can lid that was presented on Shark Tank by Kevin and Melissa Kiernan in 2012. The product was created out of necessity when Kevin searched high and low for a replacement trash can lid.
The Kiernans were seeking $40k for a 20% share in the business, and they were essentially in the prototype stage when they pitched to the Sharks. The couple had no sales, but the product was unique in the marketplace; there were no other universal trash can lids in existence.
After the show, the deal made on the platform was finally closed with Daymond John. Daymond John and Kiernans tried TV commercials, but the result took a bit longer.
Daymond also produced an online video about their D2C concept of selling from The Last Lid’s official website. Sales have been lackluster online so far, and the Kiernans and Daymond are working toward a TV commercial, but progress has been slow.
The Last Lid was eventually sold to a major retail company in the garbage can manufacturing vertical. The company has since ceased operations and has a defunct website for sale. The couple separated for a few years and finalized their divorce in July 2022.
Is The Last Lid Shark Tank Still In Business?
The Last Lid is a product that was pitched on Shark Tank by husband and wife entrepreneurs Kevin and Melissa Kiernan in season 3, episode 5. The product is an adjustable, water-resistant, heavy-duty fabric, replacement trash can cover.
The Kiernans were seeking $40k for a 20% share in the business. The product was unique in the marketplace, and there were no other universal trash can lids in existence. The Last Lid was able to lock a deal with Daymond John, who invested $40,000 for a 60% equity in exchange.
After the show, the deal made on the platform was finally closed with Daymond John. Daymond John and the Kiernans tried TV commercials, but the result took a bit longer.
Daymond also produced an online video about their direct-to-consumer concept of selling from The Last Lid’s official website. The Last Lid created an online video to sell products directly from their website following the partnership with Daymond.
So far, online sales have been disappointing. The Kiernans and Daymond are working on a television commercial, but progress is slow.
Everyone believes the Last Lid will be well received in home improvement warehouses and hardware stores, but getting it onto the shelves takes longer than expected.
The Last Lid was eventually sold to a major retail company in the garbage can manufacturing vertical. The company has since sold thousands of pieces. However, the product is no longer available.
Last Lid is no longer in business, and it is no longer in stock as well. The business was sold to a large garbage can manufacturing company in 2015 due to low sales and distribution.
What Is The Current Valuation Of The Last Lid After Shark Tank?
The Last Lid appeared on Shark Tank in season 3, episode 5, and pitched their product to the sharks. The Kiernans were seeking a $40,000 investment for a 20% stake in the company, which would value the company at $200,000.
However, the valuation they had on the show was $66,666.66. Daymond John invested $40,000 for 60% of the company.
The current net worth of The Last Lid is unknown as the business is not in operation since 2015. The owners sold it to another company for an undisclosed amount. Daymond John and The Last Lid finalized their deal after three months after the Shark Tank appearance of The Last Lid.
They created an infomercial featuring Daymond John, who graciously agreed to let his image be used for promotional purposes on his behalf.
The company became a quick success after starting and reaching its goals quickly. However, getting the product onto the shelves took longer than expected.
In summary, The Last Lid had a valuation of $66,666.66 on Shark Tank, and Daymond John invested $40,000 for 60% of the company. The current net worth of The Last Lid is unknown as the business is not in operation since 2015 and has been sold to another company.
What were the weaknesses of The Last Lid?
The weak point of the Last Lid is that it did not make many sales. Although Daymond John was a fan of the product, he thought that it would not be able to sell well.
What materials is The Last Lid made of?
The Last Lid is made from 100% heavy-duty fabric and recycled materials.
How much money did The Last Lid make?
The Last Lid did not make any sales, so they could not make any money.
How much does The Last Lid cost?
Each cover costs about $3.50 to make and they plan to sell two for $19.95.
Was The Last Lid a franchise?
No, the Last Lid was not a franchise.
What was The Last Lid?
It is a washable fabric that covers most brands and shapes of garbage cans.
What is the biggest failure Kevin has made on the show?
Kevin’s regret was getting rid of half of his stake in The Last Lid too quickly. He should have held onto it more resolutely and continued to develop the product.
What is Kevin’s Kiernan net worth?
Unknown.
Where is Kevin’s Kiernan now?
Kevin is running a product development company in New York City.
When was The Last Lid featured on Shark Tank Pitch?
The Last Lid was featured on February 17, 2021.
Is The Last Lid Waterproof?
It was designed to be water-resistant and adjustable to fit any trash can.
