Mike Line and Matt Franklin presented their Posture correction gadget or posture brace known as PostureNow to seek investment in Shark Tank Season 4 Episode 03.
Here is a PostureNow Shark Tank Update:
What Is PostureNow?
PostureNow is a posture-correcting brace worn on the arms, not over the shoulders like a typical posture brace.
The PostureNOW armbands (patent pending) are soft neoprene armbands linked to a stretchy elastic tension band.
PostureNOW posture braces are based on muscle memory and work by gently reminding you to bring your shoulders back when they slouch forward, thus establishing the habit of correct posture.
The thought of maintaining a good posture may sound strange to most of us, who have been slumping for years.
Over time, you will notice that your posture will become more aware and that sitting and standing upright will feel natural.
The development of muscle memory in the upright posture is achieved through good posture practice.
|Entrepreneur||Matt Franklin and Mike Lane|
|Product||Posture-enhancing brace for the back|
|Investment Asking For||$100,000 for 15% equity in PostureNow|
|Final Deal||$100,000 for 30% equity in PostureNow + $5 Royalty per unity until investment recouped|
|Episode||Season 4 Episode 3|
|Business Status||In Business|
Who Is The Founder Of PostureNow?
Matt Franklin and Mike Lane are the founders of PostureNow. They were seeking a $100,000 investment in exchange for a 20% stake in the business when they appeared on Shark Tank.
PostureNow can be worn beneath clothing at work or even while dancing since it can be worn underneath clothing.
According to Dancing with the Stars stars who vouch for the device’s improved posture, it is a huge hit in the dancing industry.
Mike and Matt developed the posture device to assist people who work at computers in maintaining a straight posture. They created it for their use.
They even guarantee that their product will enhance your posture 100 percent. Matt and Mike claim that appropriate body posture is a learned behavior.
You could use the device to remind you to pull your arms back without putting additional strain on your back.
It is possible to use other posture devices that do not involve your arms as posture does now.
You can adjust the tension on each PostureNow brace to find the perfect fit.
PostureNow Before Shark Tank
Posture Now, developed by Mike Lane and Matt Franklin, was released to the US market in 2011.
A revolutionary posture-correction device was the name given to this device by its inventors.
The PostureNow comprises two neoprene armbands joined by a flexible elastic band worn under or over clothes.
So many of us sit at our computers or desks between eight and nine hours a day without considering the possible health consequences.
Mike and Matt were motivated to create Posture Now by this very concept.
They conducted extensive market research and discovered that over 1 million people searched for posture-related keywords every month.
This can only mean that many people need a device like PostureNow. It is becoming increasingly common to see poor posture in the United States and globally.
How Was The Shark Tank Pitch Of PostureNow?
Mike and Matt, the founders of PostureNow, pitched PostureNow to the Shark Tank, requesting an investment of $100,000 in exchange for a 15% stake in their business.
Shark Mark Cuban offered an investment of $100,00 in exchange for 30% of Posture Now plus a $5 per unit royalty until he recoups his investment.
Mike and Matt accepted Mark Cuban’s offer, and Mike joyfully resigned from his national television job.
Final Deal: Mark Cuban agreed to invest $100,000 for 30% of PostureNow plus $5 per unit royalty until he recoups his investment.
What Happened To PostureNow After Shark Tank?
You may be thinking about what happened to PostureNow after the Shark Tank. PostureNow has been growing exponentially since the Shark Tank episode aired.
Matt and Mike both mentioned that their phones rang for two weeks after the Shark Tank show.
Within an hour of the show’s airing, the duo sold the so many amounts of PostureNow products they would have sold in a month.
Matt and Mike managed to sell enough items to earn six figures within a few more days.
The couple moved from something they enjoyed doing as a hobby to owning and operating a lucrative business instantly.
PostureNow has gained popularity since its appearance on Shark Tank, proving that Matt and Mike created an incredibly popular product that I, for one, cannot wait to try!
PostureNow Shark Tank Update
The sales of PostureNow skyrocketed after its appearance on Shark Tank.
The retailers who sold PostureNow told that all their stocks of PostureNow were out of stock in merely a few days of the show broadcast.
With a partner like Mark Cuban, PostureNow has been reaching new heights, and sales have quadrupled.
PostureNow has maintained a consistent sales record over the years. PostureNow is still in business as of June 2022, generating $6 million in annual revenue.
Is PostureNow Still In Business?
Mike Lane was able to quit his day job in New York City, as a sales director for a shipping and handling company, into his dream job following his Shark Tank appearance and his deal with Cuban.
Amazon currently does not offer a PostureNOW brace with many rivals, but you can buy a genuine PostureNOW for $40 from its website.
What Is the Net Worth Of PostureNow?
The valuation of PostureNow was $650,000 when it appeared on Shark Tank. The net worth of PostureNow is $6 million as of 2022.