What Happened to The Matte after Shark Tank?
What exactly is The Matte?
The Matte invents foldable and extensible cosmetic counters. The item is ideal for women who must keep their cosmetics on a small bathroom counter.
Melissa Clayton, the founder of The Matte, is an entrepreneur who previously founded Tiny Tags in 2012 to make jewelry.
She earned a degree in Philosophy with honors from the University of Massachusetts, Amherst. She presently serves as the CEO of The Matte and Tiny Bags.
It makes the most of the little space available by carrying up to two pounds of cosmetics and other beauty products. It’s now available in two other colors: black and pink.
Who is The Matte’s inventor?
The Matte was invented by Melissa Clayton. She is an entrepreneur who previously founded Tiny Tags in 2012 to manufacture jewelry.
Melissa came up with the Matte while putting up her own cosmetic exhibit at a trade event. She created a prototype of The Matte with the aid of a friend who is a product designer, which she presented to her husband and friends for feedback.
Melissa Clayton, the creator of The Matte, was interviewed about her entrepreneurial path by Newsmakers Daily. She earned a degree in Philosophy with honors from the University of Massachusetts, Amherst.
She established the firm in 2014 to solve a difficult problem: how to organize all of your make-up in a small bathroom.
She was wary of knocking things on the floor when doing make-up with her closed toilet seat and the edges of her little sink. There must be a better way to go about things.
She envisaged a folding mat the size of an iPads that unfolded to cover a bathroom sink, creating a form of “countertop.”
After employing a freelance industrial designer, they went through many prototypes before agreeing on a final design.
It’s a great option for small sinks and travelers. She bought her first batch of 500 pieces in 2015 and hasn’t looked back since.
She started it because she wanted to make a one-of-a-kind, personalized piece of jewelry to celebrate the birth of her first child. Melissa is now seeking a Shark to help her with her new business.
What Happened to Matte during the Shark Tank Pitch?
Following the discovery of the Matte, Melissa hopes to work with a Shark to help her plan and launch a marketing strategy to increase her sales. The Matte’s sole promotion is being done through word of mouth, influencers, and organic searches.
Melissa joined the Shark Tank pitch seeking $100,000 in exchange for 20% stake in her company, raising the company’s value to $500,000.
She went on to add that she had a successful approach, selling $20,000 in items in the 30 days leading up to the shoot. Melissa recognizes the need of a well-defined marketing strategy for the firm’s long-term success.
The other sharks, however, were not as charmed by The Matte as Melissa was. The majority of folks were perplexed by the concept.
Many others believed the product was too narrow in an already limited market. Another criticism was that The Matte did not fully define the nature and application of the product.
Lori Greiner, thankfully for Melissa, saw The Matte’s worth. She did, however, seek a percentage of the profits that matched the amount of value she provided to the product.
As a result, she sought $100,000 for a 33.3% stock stake in the company, and Melissa replied with $100,000 for a 25% equity stake in the company, but Lori refused to listen to any counter proposals.
Melissa accepted Lori’s offer of $100,000 for 33.3% equity in the firm and walked out from the Shark Tank with a deal.
What became of The Matte after Shark Tank?
There is no evidence that the deal with Lori was fulfilled. This show’s first re-run comes just three months after it initially aired, so they may still be doing their homework.
The firm is doing well in terms of sales, and revenue is increasing since sales are expanding on their own. Since the show’s premiere, the firm has sold over 48,000 copies.
The Matte’s competitors
In the market, the firm has a slew of rivals. The Free Website Guys, WebFX, DSS, SmartSites, Design Pickle, Penji, SmartBug Media, and Revenue River are among them.
The Matte’s net worth
The firm was valued at $500,000 at the pitch and has since made a lot of sales, causing the valuation to rise.
The Matte FAQs
How much does the product cost?
The Matte is currently selling for $29.99, and it comes with a lifetime warranty, making it a safe choice compared to other similar products in the market.
How much does shipping cost?
The Matte’s cost is $5.99 for shipping, which should be taken into consideration when compared to other products.
What are the dimensions of the make-up organizer?
The dimensions of the product are 2.75″ x 11″. It fits most standard-sized sinks, can accommodate two pounds and is made of plastic.
Can I use it in a custom way?
The Matte can be customized as per customer requirements.
Is there a guarantee?
The Matte’s lifetime guarantee is pretty generous, as it guarantees that you’ll get a refund within 30 days if you’re not satisfied with their purchase. It also guarantees that all of its products are tested to meet the highest standards.
What is The Matte return policy?
The Matte is a one-time purchase, and they cannot return it if they wish to return it.
Can I send the product back for replacement or refund?
If the product does not work out for them, they can contact The Matte for a full refund within 30 days of purchase. If there’s any problem with their service, they would require an RMA (Return Merchandise Authorization number) and a pre-paid return label that would accompany the returned item and be emailed to the address provided on their website.
How does The Matte work?
The Matte is a super-thin and light plastic material that can be folded to fit in a small pouch. It unfolds to cover their sink and create an extra countertop for them.
Is it reusable?
The Matte can be used multiple times, as long as it’s in good condition. It can be cleaned with a wet cloth or hand washed, which makes it reusable.