Stakt Mat Shark Tank Update | Stakt Mat Net Worth

Stakt Mat is a flexible and foldable exercise mat that was featured in episode 03 of season 14 of Shark Tank. It was created by Taylor Borenstein and Millie Blumka, who were inspired to design a better workout mat after realizing the limitations of traditional yoga mats during their at-home workouts during the COVID-19 pandemic. 

The Stakt Mat offers several features that make it a great choice for fitness enthusiasts. Stakt Mats are foldable, which makes them easy to store and transport.

When fully unfolded, the mat acts like a standard yoga mat but is twice as thick, providing enhanced support and cushioning for joints during various exercises. If extra support is needed, the mat can be folded once or twice to provide additional cushioning.

The Stakt Mat is made from EVA foam, which is non-toxic and non-porous. This material ensures durability and longevity, making it suitable for intense workouts. 

The mat is also designed always to lie flat, eliminating any creases or uneven surfaces that may disrupt workouts.

Customers have praised the Stakt Mat for its superior comfort, versatility, and functionality. It offers more support than traditional yoga mats and allows for a wider range of exercises.

The foldability of the mat has been particularly appreciated, as it enables users to perform incline push-ups, lunges, and other exercises with ease.

In terms of pricing, the Stakt Mat is positioned in the premium segment of the market. It is competitively priced at $86.00 and offers excellent value for its quality and features compared to other mats in the same price range.

The Stakt Mat is a high-quality fitness mat that addresses the limitations of traditional yoga mats. Its foldable design, enhanced support, and durability make it an excellent choice for individuals looking to elevate their home workout experience.

AspectInformation
Company NameStakt Mat
FounderTaylor Borenstein and Millie Blumka
ProductYoga mats that fold up
Investment Seeking$100,000 for a 10% Equity
Final Deal Accepted$100,000 for a 15% equity + a 75 cent royalty per unit sold until $100,000 is paid
EpisodeSeason 14, Episode 03
Business StatusIn Business
WebsiteVisit Website
Net Worth$1 Million

What Is Stakt Mat?

The Stakt Mat is a versatile fitness mat that doubles as a block, designed to provide added support and versatility in your workouts. This yoga mat is twice as thick as traditional mats and is super lightweight. It measures 12 mm thick, 69 inches x 24 inches when flat, and 3 inches x 24 inches when folded.

The Stakt Mat has gained recognition for its design and functionality. It has been featured on the popular TV show Shark Tank, making it a trusted and reputable choice for fitness enthusiasts.

Stakt Mat’s dual-purpose design is one of its key features. It can be used as a regular mat for yoga, Pilates, or other floor exercises. Additionally, it can be transformed into a block to provide extra support and stability during various poses and movements.

The mat is available in different color options, including Seafoam, Iron, Rosewater, and Dune, allowing you to choose the one that matches your style and preferences.

Stakt Mat Shark Tank Update | Stakt Mat Net Worth

In addition to its design, the Stakt Mat offers other benefits, such as being easy to store and carry. Its foldable nature makes it convenient to transport, especially for those who are always on the go or have limited storage space.

The Stakt Mat is a well-regarded fitness accessory that combines functionality, versatility, and style. 

Whether you’re practicing yoga at home, attending a studio class, or working out on the go, the Stakt Mat provides the support and comfort you need to enhance your fitness routine.

Who Is The Founder Of Stakt Mat?

The founders of Stakt Mat are Taylor Borenstein and Millie Blumka. They became friends during their time at Tulane University, and both were yoga practitioners who wanted to switch to more rigorous exercises.

However, they found that their yoga mats were not providing enough support during their workouts, especially when they had to spend extended periods on their knees, wrists, hips, and elbows.

Unable to find a suitable solution in the market, Taylor and Millie decided to create their fitness mat that would offer the necessary support and comfort. This led to the conception of the Stakt Mat.

The mat is designed to be twice as thick as traditional yoga mats while still being lightweight and easy to transport. It is made of Ethylene Vinyl Acetate (EVA) foam, which is flexible, versatile, and resistant to stress cracks, acids, oils, greases, and odors.

Before appearing on Shark Tank, Taylor and Millie marketed the Stakt Mat by sponsoring classes in SoHo and Manhattan and collaborating with fitness influencers.

Through these efforts, they gained thousands of followers even before officially launching their product. They also leveraged the power of social media, going viral on TikTok and completely selling out of their mats.

However, they faced challenges due to the global pandemic, including disruptions in the supply chain. Nonetheless, they overcame these obstacles through creative solutions and successfully brought their product to market.

In terms of their backgrounds, Taylor Borenstein holds an A.B. from Tulane’s Freeman School of Business and a B.S. in Marketing.

She has experience as a student manager for Course Hero and a marketing intern for Abrams Artists Agency before becoming a Product Implementation Team Leader at Bloomberg LP.

Millie Blumka has a B.S. in Psychology from Tulane and studied clinical psychology at the Danish Institute of Study Abroad. She currently serves as the Director of Partnerships at Showfields, a retail establishment curating mission-driven products.

In addition to their entrepreneurial endeavors, Taylor and Millie are also committed to giving back. 

They donate a portion of their sales to Northwell Health’s Feinstein Institutes for medical research, specifically supporting female breast cancer researchers through the Advancing Women in Science and Medicine (AWSM) awards.

They have also established the Upcycle Program to keep their mats out of landfills by allowing customers to send their old mats back in exchange for credit towards a new one.

How Was The Shark Tank Pitch Of Stakt Mat?

The founders of Stakt Mat, Millie Blumka and Taylor Borenstein, appeared on Season 14 of Shark Tank to pitch their yoga mat that can fold, bend, and stack to provide varying levels of support during workouts.

They were seeking a $100,000 investment in exchange for 10% equity in their company.

During the pitch, Lori Greiner inquired about Stakt’s profit margins. Millie and Taylor revealed that the landing costs for a single mat are approximately $21, while each unit is sold to customers at an average price of $86.

Stakt Mat Shark Tank Update | Stakt Mat Net Worth

The company had generated over $100,000 in gross revenue within its six-month existence, which impressed the sharks.

Daymond John and Mark Cuban dropped out of the deal early on, with Daymond stating that he wasn’t the right shark for the investment and Mark citing a conflict of interest.

However, Kevin O’Leary acknowledged the entrepreneurs’ talent and recognized the potential of the business, though he ultimately decided not to invest.

The only shark left was Lori Greiner, who made an offer of $100,000 for 15% equity and a $1 royalty until she recouped her initial investment of $100,000. After some negotiation, Millie and Taylor accepted the same deal but with a reduced royalty of $0.75.

Here is a summary of the investment offers made by the sharks:

SharkInvestment OfferedCounter Offer by FoundersFinal Deal Accepted by Founders
Lori Greiner$100,000 for 15%$0.75 royalty$100,000 for 15% and $0.75 royalty

Overall, Millie and Taylor successfully secured a deal with Lori Greiner on Shark Tank for their Stakt Mat product. This partnership is expected to bring significant sales growth and improve their brand presence, online visibility, and potential retail opportunities.

Did Stakt Mat Get a Deal on Shark Tank?

Yes, Stakt Mat did get a deal on Shark Tank. The founders, Taylor Borenstein and Millie Blumka pitched their multi-purpose foldable fitness mat to the sharks and asked for $100,000 for a 10% equity stake in their company.

After negotiations, Lori Greiner made an offer of $100,000 for a 15% equity stake plus a royalty per unit sold until $100,000 is recouped. The deal was finalized, and Lori became an investor in Stakt Mat.

What Happened To Stakt Mat After Shark Tank?

After appearing on Shark Tank, Stakt Mat did not receive interest from any of the sharks except for Lori Greiner. She made a deal with the entrepreneurs, investing $100,000 for a 15% equity stake in the company, along with a royalty of 75 cents per unit sold until the $100,000 investment is paid off.

Following the show, Stakt Mat experienced mixed responses. While it achieved sales of $110,000 in just six months, the product’s high price of $86 received criticism on Twitter, leading to humorous memes and trolling. However, some users expressed positive opinions about the mat.

Despite the lukewarm response from sharks and social media, Lori Greiner’s investment and marketing expertise can help Stakt Mat grow. 

Lori has actively promoted the product on her social media platforms, leveraging her strong reputation and following to generate sales.

In May 2023, Stakt Mat expanded its distribution by making its products available on Equinox, the fitness shop site. They also collaborated with The Sculpt Society to launch a new workout mat called “The Sculpt Society X Stakt Mat,” priced at $86 and available in a single color, Ice Blue.

Stakt Mat is still in business and continues to offer its foldable fitness mat designed for various workouts. The mat provides enhanced support and comfort compared to traditional yoga mats, making it versatile and convenient for daily movement.

Additionally, Stakt Mat actively participates in charitable initiatives, donating a portion of its sales to support female breast cancer researchers at Northwell Health’s Feinstein Institutes for Medical Research. The product has gained media attention, being featured in popular publications like Good Housekeeping and BuzzFeed.

Stakt Mat’s net worth is estimated to be around $1 million based on its success and revenue generated so far. However, it’s important to note that this figure is an estimation and subject to change based on future performance.

Stakt Mat Shark Tank Update

After appearing on Shark Tank, Stakt Mat experienced both challenges and successes. Initially, the product gained significant popularity, with the mat’s features and versatility resonating with customers.

Stakt Mat’s founders, Millie Blumka and Taylor Borenstein, effectively marketed the product by partnering with fitness instructors in SoHo and Manhattan and leveraging social media platforms like TikTok, where their videos went viral.

However, the COVID-19 pandemic posed significant challenges for Stakt Mat. Millie and Taylor were forced to go over budget to solve logistical problems due to business shutdowns and disruptions in the supply chain. Despite these obstacles, they remained determined to succeed.

The company’s sales increased once the pandemic subsided and normal business resumed. The initial popularity of the product, combined with the founders’ perseverance and strategic efforts, contributed to this success.

Additionally, Stakt Mat differentiated itself by implementing the Upcycle Program, where they take back old mats from customers in exchange for a discount on a new one.

Currently, Stakt Mat is exclusively available for purchase on their official website. The mats come in various colors and are priced at $86.00 for a single piece.

With their product, dedication to social causes, and strong online presence, Stakt Mat is poised for further success in the future.

Is Stakt Mat Still In Business?

Yes, Stakt Mat is still in business and thriving. Stakt Mat is a multi-purpose foldable fitness mat designed to provide extra support and comfort during various workouts, including yoga, sculpting, pilates, and HIIT. 

Stakt mats are 2x thicker than average mats and offer 2x comfort. It is made of rubber material for added comfort and can be easily carried anywhere due to its foldable design.

Stakt Mat Shark Tank Update | Stakt Mat Net Worth

Stakt Mat has gained popularity through its appearance on Shark Tank and has received an investment from Lori Greiner. The price of the mat is $86, and it is currently available in the United States and Canada.

Stakt Mat continues to be in business, offering its versatile and comfortable fitness mat for customers to enhance their workout routines. 

Stakt Mat supports Breast Cancer Awareness Month by donating a portion of its sales to Northwell Health’s Feinstein Institutes for Medical Research. The company has been featured in media publications such as Good Housekeeping and BuzzFeed.

What Is the Net Worth Of Stakt Mat?

According to our research, Stakt Mat’s net worth is estimated at $1 million. The valuation of Stakt Mat was $666,667 after securing an investment from Lori Greiner on Shark Tank.

Also, read about other businesses that appeared on episode 03, season 14 of Shark Tank:

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