Stakt Mat Shark Tank Update (Season 14)

The Stakt Mat is a multi-purpose, foldable fitness mat that offers double the comfort compared to standard mats. It is twice as thick as the average mat, making it suitable for various workouts, including sculpting, Pilates, HIIT, and more.

Thanks to its foldable design, the Stakt Mat is easy to carry anywhere. It can be used for a variety of exercises such as planks, jumping, dancing, lunges, and balancing.

This mat is versatile for different workout routines, and Shopstakt provides on-demand workout videos to customers.

Cleaning the foldable mat is simple; just use a hand towel and wipe it down with warm water and oil-free soap.

The Stakt Mat is priced at $86 and is currently available in the United States and Canada. It comes in three colors: Rosewater, Iron, and Seafoam. The mat measures 10 mm thick and 69” x 23.6” when flat, and 3” x 23.6” when folded.

Company Name	Stakt Mat
Founder	Taylor Borenstein and Millie Blumka
Founded	2019
Product	a multi-purpose fitness mat
Asked For	$100K for a 10% Equity
Final Deal	$100K for a 15% equity + a 75 cent royalty per unit sold until $100K is paid
Shark	Lori Greiner
Episode (Shark Tank USA)	S14 E3
Air Date	Oct 7, 2022
Business Status	In Business
Website	Visit Website
Headquarters	New York, New York City, US
Lifetime Worth (Sales)	$1.5M *estimated
Buy and Watch	Buy Now	Amazon Prime

Another Shark Tank Pitch

• The Woobles

Who Is The Founder Of Stakt Mat?

Taylor and Millie are excellent business partners and best friends, showcasing a strong synergy despite coming from different backgrounds.

Taylor Borenstein earned her B.S. in Marketing from Tulane’s Freeman School of Business. She also studied at the Universidad Pontificia Comillas in Madrid, Spain, focusing on Business and Economics.

Taylor has worked on marketing teams at various companies, including Abrams Artists Agency, ConvergeDirect, and Bloomberg LP. Currently, she serves as the Product Implementation Team Leader at Bloomberg LP.

Millie Blumka completed her B.S. in Psychology at Tulane University and studied Clinical Psychology at the Danish Institute of Study Abroad. After her studies, she worked as a salesperson at SinglePlatform and Simplifeye. Millie also held the position of Director of Partnerships at SHOWFIELDS for one year.

How Was The Shark Tank Pitch Of Stakt Mat?

Millie and Taylor entered Shark Tank with their company, seeking $100,000 for a 10% equity stake, valuing their business at $1 million. They explained their product to the sharks and shared details about their business journey.

To illustrate how their mat differs from traditional mats, they conducted a demonstration. The production cost of the product is $14.90, with a landing cost of $21.50, and it sells for $86, resulting in a profit margin of over 50%. The sharks were impressed by the selling price.

In the six and a half months prior to their appearance, they generated $110,000 in sales without investing in marketing. Mark Cuban, Kevin O’Leary, Daymond John, and Kendra Scott opted out of the deal.

Lori Greiner expressed interest in their business idea and offered $100,000 for 15% equity, along with $1 per unit sold until the $100,000 was recouped.

The entrepreneurs countered with an offer of $100,000 for 20% equity. Lori responded with a counter of $100,000 for 25% equity. The entrepreneurs then proposed $100,000 for 22.5% equity, but Lori declined.

The entrepreneurs made another counter: $100,000 for 15% equity plus a 35-cent royalty per unit sold until the $100,000 was paid back. Lori then countered with $100,000 for 15% equity plus a 75-cent royalty per unit sold until the $100,000 was recouped.

Finalize: Lori Greiner invested $100k in Stakt Mat for 15% equity + a 75-cent royalty per unit sold until $100K is paid.

What Happened To Stakt Mat After Shark Tank?

Stakt Mat did not receive a favorable response on Shark Tank, with all sharks except Lori Greiner declining to sign deals. The entrepreneurs ultimately agreed to a royalty deal with Lori.

In just six months, the business achieved sales of $110,000, which is considered impressive; however, the high price of the product makes it challenging for average consumers to afford.

Barbara Corcoran expressed her admiration for the business idea but mentioned that, as someone who does daily morning workouts with her yoga mat, she does not believe the Stakt Mat would help her joints.

Due to its price of $86, the product faced trolling on Twitter, with many users sharing funny memes about it. While some users praised the product, others expressed skepticism.

Lori was particularly enthusiastic about the mat and shared it on her social media. Many people trust Lori’s recommendations, which may lead to increased sales as they try the mat for themselves.

In May 2023, their mat products became available on the popular fitness site Equinox. The Stakt Mat and The Sculpt Society brands launched a new workout mat called “The Sculpt Society X Stakt Mat,” priced at $86 and available in a single color: Ice Blue.

Apart from Lori, no other sharks showed interest in the Stakt Mat. Lori invested in the business, leveraging her marketing expertise and understanding of product branding to help it grow.

By October 7, 2022, the company had achieved $110,000 in sales within just six months, which is commendable for such a short period.

We will continue to follow Millie and Taylor along with their company for further updates.

What Is Stakt Mat’s Net Worth?

The Stakt Mat is a unique and trending product that has gone viral on social media platforms like Instagram and TikTok. Based on our analysis, we estimate the net worth of the Stakt Mat to be around $350,000. The business is currently performing very well.

Yes, Stakt Mat is still in business as of April 2024.