The Matte Shark Tank Net Worth 2023
The Matte Shark Tank Net Worth
The Matte, a company featured on Shark Tank, had a business valuation of $500,000 before appearing on the show. Melissa accepted Lori’s offer of $100,000 for 33.3% equity shares of the company, which brings valuation to $166,499.99 and walked away from the Shark Tank with a deal after giving it some thought. Matte’s current net worth is estimated to be around $650,000.
What is The Matte?
The Matte is a revolutionary product that has been created to cater to the needs of women who want to store their cosmetics on a small bathroom countertop.
Melissa Clayton, the founder of The Matte, is an entrepreneur who previously launched Tiny Tags in 2012 to produce jewelry. Melissa graduated with honors from the University of Massachusetts, Amherst, with a degree in Philosophy. She is currently the CEO of The Matte and Tiny Bags.
The Matte is an improvised folding and extendable cosmetic counter that makes the most of limited space. It can hold up to two pounds of cosmetics and other beauty products. It is available in two colors: black and pink. Melissa came up with the idea for The Matte while setting up her own cosmetic booth at a trade show.
With the help of a friend who is a product designer, she made a prototype of The Matte and showed it to her husband and friends for feedback.
Melissa Clayton has been interviewed by Newsmakers Daily about her entrepreneurship journey. She founded The Matte in 2014 to address a challenging problem of how to set out all of your make-up in a small bathroom. Melissa grew tired of knocking items on the floor when she put on make-up by utilizing her closed toilet seat and the sides of her little sink.
She knew there had to be a better way of doing things. She imagined a folding mat that could fold down to the size of an iPad and unfold to cover a bathroom sink, producing a type of “countertop.” They went through numerous prototypes after hiring a freelance industrial designer before settling on a final design.
The Matte is an excellent solution for tiny sinks and for traveling. In 2015, Melissa purchased a first batch of 500 pieces and has never looked back. She is always looking for new ways to improve her products and is currently looking for a Shark to assist her with her new enterprise.
What Happened to The Matte at Shark Tank Pitch?
Melissa was eager to work with a Shark after discovering The Matte, with hopes of creating and implementing a marketing campaign that would enhance her sales. At present, The Matte’s only marketing strategy involved word of mouth, influencers, and organic searches.
In her pitch on Shark Tank, Melissa sought $100,000 in exchange for 20% equity shares, raising the company’s worth to $500,000. She reported a successful strategy, with $20,000 in merchandise sold in the 30 days prior to filming. Melissa understood that a clear marketing plan was essential for the company’s genuine success.
However, the other Sharks were not as enthusiastic about The Matte as Melissa. Many found the product too niche for an already small market, while others felt that The Matte’s nature and use were not adequately described.
Fortunately, Lori Greiner saw the value in The Matte and offered $100,000 for a 33.3% share in the company, reflecting her added value to the product.
Melissa countered with an offer of $100,000 for a 25% equity portion, but Lori refused to hear any counter offers. Melissa ultimately accepted Lori’s offer and walked away from Shark Tank with a deal after some consideration.
There is currently no evidence that the contract with Lori has been completed, as the first rerun of the show occurred only three months after its initial airing. However, the company has performed well in terms of sales, with revenue increasing as sales continue to grow. Since the show aired, The Matte has already sold over 48,000 units.
Competitors of The Matte
The company has many competitors in the market space. These are; The Free Website Guys, WebFX, DSS, SmartSites, Design Pickle, Penji, SmartBug Media and Revenue River.
Net Worth of The Matte
The company was valued at $500,000 during the pitch and has makes a lot of sales which makes the valuation to increase.
The Matte After Shark Tank Updates
The Matte is a temporary makeup counter designed to provide a space-saving solution for storing makeup items.
Melissa Clayton created The Matte in 2014 to solve her bathroom storage problems. She appeared on Shark Tank Season 12 Episode 20 seeking $100,000 for 20% equity from the Sharks.
Lori Greiner offered her $100,000 for 33.3% equity, which Melissa accepted. However, the deal with Lori never closed.
Despite not closing the deal with Lori, Melissa still operates The Matte, and as of November 2022, lifetime sales are $6 million.
The Matte experienced a boost in publicity, brand recognition, and sales since appearing on Shark Tank in 2020.
The Matte was promoted by influencers, which gave the brand even more exposure. The Matte has experienced a surge in sales and now offers its products to even more people.
Melissa continues to sell Matte products and works on other gigs. She is a member of the Women in Retail Leadership Circle.
The Matte has not expanded its product line much since appearing on Shark Tank. However, Melissa is always looking for new ways to improve her products and is currently looking for a Shark to assist her with her new enterprise.
The Matte Shark Tank Table Summary:
|Lori’s Offer||$100,000 for 33.3% equity share|
|Valuation After Lori’s Offer||$166,499.99|
|Current Net Worth||$650,000|
|Education||Graduated with honors from the University of Massachusetts, Amherst, with a degree in Philosophy|
|Product||Improvised folding and extendable cosmetic counter|
|Product colors||Black and pink|
|Shark Tank appearance||Shark Tank Season 12 Episode 20|
|Pitch Offer||$100,000 for 20% equity shares|
|Other Sharks||Not interested|
|Counteroffer||$100,000 for 25% equity portion|
|Result of Shark Tank Pitch||Lori Greiner offered $100,000 for a 33.3% share in the company|
|Contract status||Not completed|
|Lifetime Sales||$6 million|
|Competitors||The Free Website Guys, WebFX, DSS, SmartSites, Design Pickle, Penji, SmartBug Media, and Revenue River|
|Business||A cosmetic counter that makes the most of limited space, available in black and pink|
|Equity Shares||Lori offered $100,000 for 33.3% shares of the company|
|Shark Deal||Lori offered $100,000 for 33.3% equity shares, which Melissa accepted|
|Sales||Sold over 48,000 units since Shark Tank pitch|
|Updates||The deal with Lori never closed, lifetime sales are $6 million as of November 2022|
|Founder status||Melissa continues to sell Matte products and works on other gigs|
The Matte FAQs
What Is The Matte And How Does It Work?
The Matte is a makeup organizer and space saver, not to be confused with matte displays, matte painting, or matte shots in film.
The Matte is designed to provide space for the temporary storage of makeup items and to keep them organized.
It works by providing a flat surface with compartments for different makeup items, allowing users to easily access and store their makeup. The Matte is made of durable materials and is designed to be portable, making it easy to take on the go.
Who is the Founder?
Melissa Clayton is the founder of The Matte.
What Was The Outcome Of Matte Shark Tank Pitch?
Melissa Clayton pitched her product, The Matte, on Shark Tank Season 12 Episode 20 in April 20. She asked the Sharks for $100,000 for 20% equity.
The Matte is a sink cover that can be used as a stand for makeup and other products. After pitching her business to the Sharks, Melissa received an offer from Lori Greiner for $100,000 and 33.3% equity. However, it is unclear whether the deal with Lori closed.
After the Shark Tank episode aired, The Matte experienced a surge in sales and publicity. However, due to the COVID-19 pandemic, shipping was delayed. As of August 2022, The Matte was generating half a million dollars in revenue.
As of November 2022, The Matte had lifetime sales of $6 million. Melissa Clayton is still actively running The Matte and updating the product to keep up with customer demand.
What Happened After Appearance Of Matte On Shark Tank?
Melissa Clayton appeared on Shark Tank in 2020 to pitch her product, The Matte, which is a sink cover that can be used as a stand for makeup.
She was seeking $100,000 for 20% equity in her business. Although Lori offered her a deal, it never closed. However, Melissa continued to push forward with her business and continued selling The Matte on Amazon and other platforms.
Since its appearance on Shark Tank, The Matte has experienced a surge in sales, brand recognition, and publicity. As of 2022, The Matte’s annual earnings had reached $6,000,000.
Melissa still operates The Matte, but her primary focus is on her other business. She is constantly updating her product to keep up with customer demand. In June 2022, she became a member of the Women in Retail Leadership Circle.
The Matte is still in business as of August 2022. Due to the Covid-19 pandemic, they had to delay shipping orders, but they notified their customers of the delay. The Matte’s only marketing strategy involves word of mouth, influencers, and organic searches.
Although some Sharks found the product too niche for an already small market, Melissa’s appearance on Shark Tank helped her gain publicity and increase sales.
What is their offer on Shark Tank?
Melissa was seeking for $100,000 for a 20% equity stake.
Did she get the deal?
Yes, Melissa was working with Lori to move forward with the business.
What is the offer?
Melissa get offer of $100,000 for a 33.3% equity stake from Lori.
What is the size of the business there?
The company has grown from 14,000 to 48,000 units since Shark Tank. It has also been ranked as one of the best-selling products on the market.
What is the business strategy?
They have a unique approach to marketing strategy. Melissa has been using her social media accounts and through influencers to promote the product.
Is there a unique feature of the product?
There is no unique feature of the product per se. It is just a product that helps people with makeup products in small spaces.
Is still in business?
Yes, they are still in business.
How the business model?
They have a business model of a subscription box, similar to other companies. They sell the product directly to the customer.
Who is the company competing against?
The company is competing against The Free Website Guys, WebFX, DSS, SmartSites, Design Pickle, Penji, SmartBug Media and Revenue River.
What are the problems which they are solving?
There are many issues that the company is trying to solve, for example makeup spills on floors, small bathrooms, and people who have moving situations.
The shark tank has appreciated Lori contribution since she came to Shark Tank after helping other companies which she has invested in.
Is safe to buy online?
Yes, it is safe to buy online.
How much does it cost?
It has a retail price of $49.99 and can be purchased online on their official website.
Is a scam?
It is not a scam in any way; the product quality has been proven through numerous customer reviews.
What have been done to solve their problems?
Melissa is using her social media accounts to promote the business and she has been using influencers to market it. She has placed many orders for their products considering its value.
How much is a Matte?
2 sizes are available: a small 10″ x 10″ and a large 14″ x 14″. They cost $39 and $49 respectively, and they do not include shipping costs.
How can I contact The Matte?
Contact Info: www.thematte.com/contact
How can I buy The Matte?
The Matte can be purchased from the official website. And customer needs to know that it is available in two colors: black and pink.