Stakt Mat Net Worth 2024, Business Model & Founders

Stakt Mat Net Worth
Stakt Mat Net Worth
Here you will get to know about Stakt Mat Net Worth in 2024, Business Model & Founders.

Who is Stakt Mat?

Who is Stakt Mat?
Who is Stakt Mat?

Stakt Mat is a revolutionary fitness mat designed by Taylor Borenstein and Millie Blumka for versatile workouts. This foldable mat is 2x thicker than average, providing extra comfort for yoga, sculpt, pilates, and more. Its unique design serves as a step stool, yoga block, and meditation seat.

Made from rubber, Stakt Mat isn’t just for yoga – it’s suitable for step-ups, tricep dips, and various exercises. Priced at $86, it’s available in Rosewater, Iron, and Seafoam colors.

Apart from its utility, Stakt Mat is easy to clean with a hand towel and warm water. During Breast Cancer Awareness Month, a portion of sales supports female breast cancer researchers.

Stakt Mat Net Worth

Stakt Mat Net Worth
Stakt Mat Net Worth

As per Forbes magazine, the net worth of Stakt Mat is estimated to be around $450,000. This unique and versatile fitness product gained significant traction on social media platforms like Instagram and TikTok.

Since its appearance on Shark Tank in October 2022, the company has reported sales of $110,000 within six months.

Founder Story

Taylor and Millie, friends with backgrounds in marketing and psychology, united by their love for yoga, envisioned a fitness revolution with Stakt Mat. Frustrated by the limitations of traditional mats during home workouts, they set out to create a versatile solution.

The result? Stakt Mat, a foldable fitness mat designed for yoga, pilates, and more, offering comfort and adaptability.

Despite facing supply chain disruptions during the pandemic, their resilience paid off, and a viral TikTok video propelled Stakt Mat into the spotlight.

Business Model

Stakt Mat follows a direct-to-consumer model, selling its versatile fitness mat directly to customers. The mat, designed for yoga and various workouts, stands out with its unique features, offering 2x more comfort and serving as a step stool, yoga block, and meditation seat.

With an online focus, the mat is available on the official website and may be found on platforms like Amazon.

Shark Tank Appearance

Shark Tank Appearance
Shark Tank Appearance

In their Shark Tank pitch, Millie and Taylor asked for $100,000 in exchange for 10% equity in their fitness mat business, valued at $1 million.

They demonstrated the uniqueness of their mat in comparison to traditional ones. The mat’s production cost was $14.9, landing cost $21.50, and selling cost $86, boasting a profitable margin of over 50%.

Despite earning $110,000 in the last 6 months without investing in marketing, Mark Cuban, Kevin O’Leary, Daymond John, and Kendra Scott declined to invest.

Lori Greiner, however, offered $100,000 for a 15% equity stake, plus a $1 royalty per unit until the initial investment was recovered.

Negotiations ensued with the entrepreneurs countering Lori’s offers. Eventually, they settled on Lori Greiner investing $100,000 for a 15% equity stake and a 75-cent royalty per unit sold until the initial $100,000 was repaid. This agreement marked a deal between Lori and Stakt Mat.

Frequently Asked Questions

What is Stakt Mat?

Stakt Mat is a versatile and foldable fitness mat designed for various workouts, including yoga, sculpt, pilates, and HIIT. It stands out for its unique design, providing 2x the comfort of traditional mats.

How is Stakt Mat different from other mats in the market?

Stakt Mat’s foldable design sets it apart, allowing it to serve as a step stool, yoga block, meditation seat, and more. Its versatility makes it suitable for a wide range of exercises beyond yoga.

Who are the founders of Stakt Mat?

Stakt Mat was founded by Taylor Borenstein and Millie Blumka, both yoga practitioners with diverse backgrounds in marketing and psychology.

Where can I purchase Stakt Mat?

Stakt Mat is available for purchase on the official website and may also be found on online platforms like Amazon. It comes in three colors: Rosewater, Iron, and Seafoam.

Can Stakt Mat be used for exercises other than yoga?

Yes, Stakt Mat is designed for multiple purposes. It can be used for various exercises, including step-ups, tricep dips, and incline exercises.

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