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What Is The Last Lid?
The Last Lid is reusable garbage can lid made from a durable fabric that can be washed and reused. The Last Lid product was designed to be water-resistant and adaptable to fit any trash can on the market today.
The Last Lid also has a secondary purpose of deterring wild creatures, such as raccoons, from entering the garbage can and keeping contents contained if the Lid falls over.
| Company Name | The Last Lid |
| Entrepreneur | Kevin Kiernan And Melissa Kiernan |
| Product | Kevlar fabric bin covers are water- and critter-resistant |
| Investment Asking For | $40,000 for 20% of The Last Lid |
| Final Deal | $40,000 for 60% of The Last Lid |
| Shark | Daymond John |
| Episode | Season 3 Episode 5 |
| Business Status | Out Of Business |
| Website | Visit Website |
Who Is The Founder Of The Last Lid?
Kevin and Melissa Kiernan are the founders of The Last Lid, who are also husband and wife. Melissa graduated with a Bachelor of Arts and Sciences from the University of Hartford.
Her career as an event coordinator ended after she separated from Kevin, and she now works for a real estate company in New Jersey.
Kevin graduated with a Bachelor of Arts in Business from Villanova University. He comes from a sales and information technology background, specializing in vehicle requirements. He is currently “filling voids in specific industries,” as stated on his LinkedIn page.”
The idea for The Last Lid was conceived during the couple’s morning routine of finding and replacing the garbage bin lid, frequently lying yards away from the trash can owing to wild animals’ nighttime attacks knocking it over and leaving a mess.
After several encounters with the obnoxious creatures, the cover mysteriously vanished one morning. Kevin gave up after searching for a long time and decided to create his own, even going so far as to perform video surveillance of the offenders to improve the product’s quality.
They had a working prototype, a great business plan, and everything else they needed to get started; they all needed investors who believed in their pre-revenue product.
The Last Lid Before Shark Tank
A couple from Waldwick, New Jersey, Kevin, and Melissa Kiernan, got fed up with animals raiding their garbage cans in the middle of the night. The trash and waste in Melissa’s front yard would greet her each morning when she stepped out of the front door. Eventually, she spoke to her spouse one morning to resolve the matter.
This particular situation is familiar to millions of people around the world. Often, raccoons and squirrels cause a huge mess the next morning when they dig through garbage can lids to dig through leftovers.
Kevin went to a local fabric store and developed a great product that performed perfectly as intended. Instead of using a plastic top, they designed a waterproof polyester cloth cover to cover their garbage cans.
This innovative cover fits virtually any trash can and successfully keeps annoying, unwanted creatures out of the garbage. Following the invention of their device, Kevin and Melissa received enthusiastic responses worldwide.
However, as newcomers to the business world, the pair would undoubtedly want financial assistance to launch their Last Lid venture effectively. They appeared on Shark Tank hoping to obtain an investment from one of the Sharks because of this financial need.
How Was The Shark Tank Pitch Of The Last Lid?
Melissa and Kevin appear confident in their product before being allowed into the shark tank, indicating that they expect it to be carried in every store. The same confidence and positive attitude follow them throughout the shark tank, even when faced with terrifying criticism.
Kevin and Melissa appeared on Shark Tank seeking an investment of $40,000 for a 20% stake in The Last Lid. They tell a story of how their trash cans fall over every morning and how their lids mysteriously disappear. The Sharks seem intrigued and entertained by their story, delivered with vitality.
They take notice of Kiernan’s performance and applaud him when he ends. Shark Lori Greiner is the first to express her concerns, inquiring how the entrepreneurs planned to prevent raccoons from taking the Lid off or biting right through the material.
Kevin explains how he examined and filmed the animals and made necessary revisions to The Last Lid. After much trial and error, he found the perfect combination of designs and fabrics. Likewise, Robert Herjavec comes across as dubious, asking if the Lid can be removed precisely.
Melissa effortlessly undoes the metal lock and slips the fabric cover of the rubbish can, result in one rapid move.
Taken aback by the design’s simplicity, Daymond John directs them to discuss numbers. When John inquires about their sales, Kevin responds that they have none. Their device has just been completed, and a patent application has been filed.
Kevin argues that $200,000 undervalues their product, although John hesitates to invest in an unproven business. The Sharks all chuckle at this but immediately restore their calm and inquire about what they would discover if they searched for replacement lids online.
Kevin informs them that some lids are only available for specific brands, so The Last Lid is marketable. Because this cover is made of fabric, it is adaptable and can fit virtually any garbage can.
While the company has created the world’s first garbage can lid, Herjavec believes it is bad to have a cloth lid because it will need to be washed and won’t withstand rain. He is the first to exit, as he has no interest in or faith in the product.
Kevin tries to reroute the conversation to Mark Cuban by telling him to print his logo on the book’s cover. Once again, the shark’s chuckle and the Kiernan’s fight. Greiner withdraws and declines to invest in their venture, but Cuban inquires about the cost of manufacturing the lids.
Each cover costs approximately $3.50 to create, and they want to sell them in pairs for $19.95. Also, Kevin O’Leary is unsatisfied with how the numbers stack up and exit.
Cuban also decided not to invest for the same reasons as O’Leary. The only person who expresses interest in investing in the business is John. He gives them one chance to establish an unaffordable price. With so much at stake,
Kevin proposes 60% of his The Last Lid for an initial $40,000. Daymond John bites and accepts the deal after a brief delay.
Final Deal: Daymond John agreed to invest $40,000 for a 60% equity in The Last Lid.
What Happened To The Last Lid After Shark Tank?
Daymond John and The Last Lid finalized their deal after three months after the Shark Tank appearance of The Last Lid.
They created an infomercial featuring Daymond John, who graciously agreed to let his image be used for promotional purposes on his behalf. The company became a quick success after starting and reaching its goals quickly.
The Last Lid was featured on a recap episode of Shark Tank following the company’s rapid growth and development as a business. The company has since sold thousands of pieces.
Kevin Kiernan has spoken in schools, encouraging students to pursue their dreams and not be intimidated by the prospect of becoming an entrepreneur and his appearances on television shows.
The Last Lid Shark Tank Update
The Last Lid created an online video to sell products directly from their website following the partnership with Daymond. So far, online sales have been disappointing. The Kiernans and Daymond are working on a television commercial, but progress is slow.
Everyone believes the Last Lid will be well received in home improvement warehouses and hardware stores, but getting it onto the shelves takes longer than expected.
Kiernan has discussed licensing with at least one corporation, but no agreements have been signed. The product is still at an early stage. The Last Lid company was sold in 2015.
Kevin’s LinkedIn page states, “The Last Lid was finally sold to a large retailer in the garbage can manufacturing vertical.” This item has been removed from the market.
The couple is no longer together. Melissa works as a “wonderful realtor” at Coldwell Banker in Closter, New Jersey, while Kevin owns a product development business in New York City.
Is The Last Lid Still In Business?
The Last Lid never really took off despite initial sales success, funding, and an infomercial due to the product’s inability to penetrate mainstream retail.
The Last Lid ceased operations in 2015 after being acquired by a prominent garbage can manufacturer. The Last Lid has a defunct website for sale and static social media pages.
What Is the Net Worth Of The Last Lid?
The valuation of The Last Lid was $200,000 when it appeared on Shark Tank. The net worth of The Last Lid is unknown as of 2022 since it is out of business.
