Do The Sharks Believe that Stakt Is Investable? | Shark Tank US | Shark Tank Global

next up is a reinvention of an everyday workout [Music] accessory hi sharks I'm Millie and I'm Taylor we're best friends living in New York City and we're here asking for $100,000 for 10% equity in our company sharks over the past few years our lives have changed in so many ways from the way we work to the way we work out our living rooms have become our local gyms our bedrooms have turned into boot camps our mat-based workouts are no longer just a yoga class to wind down we're doing sculpts Pilates and strength training and our yoga mats they're just not supportive enough and they add no extra value our exercising has evolved but our yoga mats haven't well roll over yoga mat it's time for an upgrade introducing Stacks a mat with a unique foldable design that unlocks a new level of Versatility for any exercise when the Stacked mat is fully unfolded it acts just like a standard yoga mat except it's better cuz it always lays flat and it's twice as thick if you're in need of some extra support we got you fold your stacked mat once or twice and get that much needed extra cushion for your joints or fold stacked up entirely and it transforms into a block that can be used for tricep dips incline exercises such as planks or push-ups lunges and so much more sharks stct was born out of the love for sweating and the need for adaptation so which of you wants to give us stacks of money and help us take over the fitness industry with stacked good job so you each have a stacked mat in front of you it also comes with the carrying stps you can easily take it with you on the go now I'm in the gym all the time practically every day I've seen foldable mats lots of foldable mats what is unique about this so when we think about the foldable mat space there's sort of two kind of mats out there right so there's the big gymnastic mats that are essentially pieces of cushion that are held together by vinyl and those mats are heavy they're expensive they're also not the right material for yoga or sculpt you know they're not grippy they're not Nimble you can't take them off what about the classic rolled mat which you see so many people carrying you know of course yeah kind of why we created this so to give you some backgrounds Tor and I met about 10 years ago in college and we've been best friends we've been roommates and we've always been into fitness but it wasn't really till the pandemic when we started working out a lot more for our mental health and our well-being and we realized we were using a yoga mat but neither of us were necessarily doing yoga and half the time we were rolling up our mats for extra support or we were using a block or something to really enhance the workouts we were doing and so we found that there was you know room in the market for not only a more supportive mat but also a mat to add that versatility and what's great about this is it fs and it can really act as a second piece of equipment and really enhance and modify the workout I'm curious to know the price like what it costs you and then what you sell it for the mat itself in a box with the strap cost us $14.90 it lands to us at $215 and we sell it for $86 86 yes good everything is D to dtoc through our website um and everything's been through creating content and really building a community let's let's say it has Merit all right you've AR for sure show us sales so in the 6 and a half months that we've been selling we've done a little over $110,000 in sales that's not bad and we haven't put any money into marketing so that's better yeah I'm signing up for Pilates now all right and I don't have a m and I go online what are the price points I'm going to be presenting let me take you through it so the yoga mat industry is segmented by materials this is an EVA foam it's non-toxic it's non-porous we compete in the premium segment right we're competing with mats that cost anywhere from $70 to $130 we're at $86 right on the low to mid end of that there are mats $3 $35 that are made from something called PVC it's a toxic material and it's something we really haven't been highlighting this mat doubles as a piece of equipment right that's what this was Bor out are really good with that okay and and how much of your own money is into this business we each put in a bit over $25,000 from our savings okay what else is your fulltime gig so right now we both have full-time jobs just to fund the business so my background's in sales and I've worked at startups for my entire career so I've really experienced first what kind of startups um all over the place restaurants um dentists and doctors and most recently with experiential retail all right and uh tlor so my background professionally I have worked in product for the last six years on the fintech side what kind of product uh it's a portfolio risk and analytics solution for fixed income debt they got a financial services I do in sytech yeah so Millie Taylor um I see the viability here but I really just don't know much about this market and listen there could be a million other kind of mats out there I made my career over t-shirts there's millions and millions of t-shirts but I think they're proud would be more sharks up here that would be of more value to you but I wish you luck I like it um but unfortunately I don't think I can help you I'm out thank you thank you for this opportunity so I invested in a company called Bala they create an entire Community around high-end fitness equipment but my concern is competing with bala I would be working against myself so for those Reasons I'm out thank you Mar you know look I love yoga I think this is a great idea I love the idea for your knees unfortunately for me I I have a mat and I've used the same mat for 2 years I don't see this as a product that I'm going to continue to Reby so you're always going to have to be acquiring new customers I really don't see the longevity of this being something that would work for me to be involved so for that reason I'm out all right what are you doing Lori what are you doing Kevin I don't know you know it's a very difficult deal the best part of this deal are you two thank you thank you but I'm sorry this is not a business for me I'm out listen I like this m a lot I think this is the best mat I've ever seen and I've gone through a lot of them this one's fantastic I'm going to make you an offer now thank you because you guys are so so newbie I'm going to give you 100,000 but I'd like 15% but I would like $1 back per unit sold until I recoup my 100,000 we will blow this up I'm worth [Music] it we appreciate your offer U I guess while we're here be sure of the whole panel just want to see if the conversations I see a little clock in my head it's going Tick Tock okay Lori you mind if Millie and I take a minute take a minute maybe 10 seconds okay okay Lori yes thank you so much for your offer are concern with the royalties that it's really going to siphon the growth that we need right now to kind of hit with this momentum would you be willing to do $1,000 for 20% oh see the reason why I did that you guys have a lot of margin so really a dollar when you're making like $50 a piece or more doesn't really it doesn't really hurt but if you really want me in it to win it how about 25% equity which I'm not going to see unless we sell this company or unless we make a lot of of sales $400,000 valuation guys yeah would you do 150,000 for 222% no I mean my plan is to blow out so many of these we won't we won't need it cheap valuation so you have to decide she's removed the royalty yeah now you could go back back to it you know you you and that was at 15% okay that was at 15 we we have another offer here okay 100,000 yes 15% yes we you a 35 Cent royalty 75 cents and you got it you have a deal all right I like it thank you guys thank you guys so much Lor's going to be a great partner can't wait work together we're going to blow it [Music] up we're so happy this means everything to us we are so excited to take stack to the next level there is a royalty component to the deal but it's okay Lori is so worth it

Channel: Shark Tank Global

Views: 103,971

Keywords: Shark Tank, Shark Tank US, Shark Tank Australia, Kevin O’Leary, Barbara Corcoran, Daymond John, Robert Herjavec, Mark Cuban, Lori Greiner, Dragons’ Den, Money Tigers, Entrepreneurship, investment, reality tv

Id: QyjUA24qaIM

Length: 9min 50sec (590 seconds)

Published: Sun Mar 10 2024