Female entrepreneur Lindsay Mullenger appeared on Shark Tank Season 16, seeking $400,000 for 5% equity in her high-quality heirloom keepsake trunk business, Petite Keep.
Her company offers personalized trunks, allowing customers to choose their favorite designs. She also sells accessories like lavender sachets, dust bags, acid-free tissue paper, and more.
Guest Shark Jamie Kern Lima, Barbara Corcoran, and Mark Cuban were interested in Lindsay’s business. The three teamed up and made a deal with her for $400,000 in exchange for 15% equity.
| Company Name | Petite Keep | |
| Founder | Lindsay Mullenger | |
| Founded | Feb 2020 | |
| Product | keepsake | |
| Asked For | $400k for 5% equity | |
| Final Deal | $400k for 15% equity | |
| Shark | Jamie Kern Lima, Barbara Corcoran, and Mark Cuban | |
| Episode (Shark Tank USA) | S16 E9 | |
| Air Date | Jan 24th, 2025 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | St Louis, Missouri, USA | |
| Lifetime Worth (Sales) | $17.5M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Who Is The Founder Of Petite Keep?
Former Procter & Gamble marketing manager and Duracell Inc. director of sales, Lindsay Mullenger, founded Petite Keep, a personalized keepsake trunk business, in January 2020.
According to her LinkedIn profile, Lindsay Mullenger studied Business Administration in Marketing at the University of Missouri-Columbia.
Currently, she is a mother of five daughters.
How Was The Shark Tank Pitch Of Petite Keep?
On Shark Tank, Lindsay Mullenger asked the Sharks for $400,000 in exchange for 5% equity, valuing her business at $8 million. She explained the overview of her heirloom keepsake trunk business and discussed its growth potential with the Sharks.
Lindsay started her business in February 2020 with the help of her husband. In its first year, the business generated $110,000 in sales, all through D2C sales on their official website. The following year, sales grew 6x to $660,000; in 2022, they reached $1.7 million. By 2023, the business achieved an impressive $5 million in sales.
So far in 2024, sales have already hit $4.5 million, with an estimated $10 million expected by the end of the year. In terms of profitability, the business had a 10.9% net profit in 2023, while the projected net profit for 2024 is 7.5%.
Mark Cuban asked Lindsay what she expected from the Sharks for her business. In response, she said she needed a strategic advisor who could help take her business to the next level of growth.
Lori Greiner said that 5% equity was not enough for her, so she decided to opt out.
Kevin O’Leary and Jamie Kern Lima initially teamed up and offered $400,000, but they wanted 20% equity in the business.
Lindsay projected that her sales could reach $17 million in 2025. Based on this, she countered with an offer of $400,000 for 10% equity, but the Sharks were not showing flexibility.
As a result, she made another counteroffer of $600,000 for 12% equity, and then another counteroffer of $600,000 for 15% equity with the same amount.
Mark Cuban and Barbara Corcoran teamed up and offered $400,000 for 15% equity. Guest Shark Jamie Kern Lima individually matched their offer. In the end, Mark, Barbara, and Jamie teamed up and invested in Lindsay’s business for $400,000 for 15% equity at a $2.67 million valuation.
Breakdown Sharks Offer
Note: Here’s a quick summary of the offers and counteroffers between the Sharks and Lindsay Mullenger:
| Sharks | Offers |
| Kevin O’Leary | $400k for 10% equity (Jamie) (#1) |
| Barbara Corcoran | $133k for 5% equity (Jamie & Mark) (#2) |
| Mark Cuban | $133k for 5% equity (Jamie & Barbara) (#2) |
| Lori Greiner | No Offer |
| Jamie Kern Lima | $400k for 10% equity (Kevin) (#1) $133k for 5% equity (Mark & Barbara) (#2) |
| Founder’s (Countered) | $400k for 15% equity (Kevin & Jamie) |
| Final Deals | $400k for 150% equity |
Petite Keep Shark Tank Update
After the episode aired, when we analyzed Petite Keep’s official website, we found that the site receives around 40,000 visitors every month. Of these, approximately 20% convert into actual customers.
Customers have the option to personalize the trunks based on their preferred fabric, font, text, and color. The average cost for a personalized trunk is $330.
What Is Petite Keep Net Worth?
Based on the company’s sales and current valuation, Petite Keep’s net worth is estimated to be around $3.5 million. As the company’s sales are expected to increase in 2025, its value is likely to experience significant growth.
