Stakt Foldable Yoga Mat Shark Tank Episode 3 Update & Net Worth
Stakt Foldable Yoga Mat Shark Tank Episode 3 Update & Net Worth Stakt is an innovative foldable yoga mat designed by Millie Blumka and Taylor Borenstein, which appeared on Shark Tank Season 14, Episode 3. Seeking $100,000 for 10% equity, the founders wanted to revolutionize the fitness industry with a versatile, multi-purpose mat that offers…
Stakt Foldable Yoga Mat Shark Tank Episode 3 Update & Net Worth
Stakt is an innovative foldable yoga mat designed by Millie Blumka and Taylor Borenstein, which appeared on Shark Tank Season 14, Episode 3. Seeking $100,000 for 10% equity, the founders wanted to revolutionize the fitness industry with a versatile, multi-purpose mat that offers extra support and flexibility during workouts.
After negotiating, they secured a deal with Lori Greiner, who invested $100,000 for 15% equity and a $0.75 royalty per mat sold until she recoups her investment.
The exposure from Shark Tank significantly boosted Stakt’s sales, and the partnership with Lori Greiner has been crucial in enhancing the brand’s reach and visibility.
As of 2024, Stakt Mat has generated approximately $1.5 million in lifetime sales, with a net worth of around $350,000. The company continues to grow and thrive in the fitness industry.
What Is Stakt Mat? How Does It Work?
Stakt Mat is a multi-purpose foldable fitness mat designed to offer double the comfort of standard yoga mats. Unlike traditional mats, Stakt can be folded, making it versatile for various workouts, including yoga, sculpting, pilates, HIIT, and more.
The mat is thicker than average, providing better support for exercises like planks, lunges, and tricep dips, and can also be used as a step stool, yoga block, or meditation seat.
The foldable design makes Stakt Mat highly portable and adaptable, allowing users to stack the mat for increased resistance or fold it for easy transportation. The mat is easy to clean, requiring just a hand towel, warm water, and oil-free soap. It is currently available in three colors: Rosewater, Iron, and Seafoam, and is priced at $86.
Stakt Foldable Yoga Mat Shark Tank Full Episode: What Happened At Shark Tank Pitch?
In Shark Tank Season 14, Episode 3, Millie Blumka and Taylor Borenstein pitched their innovative foldable yoga mat, asking for $100,000 for 10% equity. The entrepreneurs impressed the sharks with their product’s versatility and the financial success they had achieved in just six months, generating $110,000 in sales.
The production cost per mat is approximately $14.90, with a landing cost of $21.50, and each unit sells for $86, yielding a high profit margin of over 50%.
While most sharks, including Mark Cuban, Kevin O’Leary, and Daymond John, were not interested due to the market’s competitive nature or personal conflicts, Lori Greiner saw potential. She offered $100,000 for 15% equity and a $1 per unit royalty until her investment was repaid. After negotiating, the deal was finalized at $100,000 for 15% equity with a $0.75 royalty per unit sold.
Stakt Mat Shark Tank Pitch Summary
| Company Name | Stakt Mat |
| Founder | Millie Blumka and Taylor Borenstein |
| Product | Foldable, multi-purpose yoga mat |
| Amount Asked For | $100,000 for 10% equity |
| Final Deal | $100,000 for 15% equity + $0.75 royalty |
| Investor | Lori Greiner |
| Season & Episode | Season 14, Episode 3 |
| Lifetime Sales | $1.5M estimated |
| Business Status | In Business |
| Current Net Worth | $350,000 estimated |
What Happened to Stakt Mat After Shark Tank?
Following their Shark Tank appearance, Stakt Mat saw a significant spike in sales. The exposure helped boost their presence across social media platforms, especially on TikTok, where viral videos led to a sell-out of their initial stock.
Working with Lori Greiner allowed Stakt to refine its branding and improve its market penetration. By May 2023, Stakt Mat was available on the popular fitness shop Equinox, and they collaborated with The Sculpt Society to launch a special edition mat, priced at $86. This collaboration has increased the brand’s visibility in the premium fitness community.
How Much Is Stakt Mat Worth?
As of 2024, Stakt Mat has an estimated net worth of $350,000. The company’s sales have exceeded $1.5 million in lifetime sales, and with the continued success of their marketing efforts and product innovation, the valuation is expected to grow further.
Is Stakt Mat Still In Business?
Yes, Stakt Mat is still in business as of April 2024. The company continues to operate successfully, selling its products through its website and collaborating with fitness brands and influencers. Their premium foldable mats are now available in the U.S. and Canada, and they have expanded into the retail space with partnerships like Equinox.
Stakt has also introduced new colors and variations of the mat, and they actively participate in charity events, including donating a portion of their sales during Breast Cancer Awareness Month.
Which Episode Number Was Stakt Mat on Shark Tank?
Stakt Mat appeared on Season 14, Episode 3 of Shark Tank, which aired on October 7, 2022. The episode highlighted the mat’s versatility and the founders’ journey, leading to a deal with Lori Greiner.
Stakt Mat continues to gain traction in the fitness world, providing a solution for those looking for a versatile and durable workout mat. With Lori Greiner’s support, the company is set for continued growth in 2024 and beyond.
