Shark Tank: What is The Matte's net worth as of 2024?

The Matte is a portable countertop organizer, designed for makeup supplies, that conveniently fits over any sink to save space and maintain a tidy arrangement of makeup products.

The Matte comprises six sections, with three featuring indentations to prevent items like makeup brushes and lipsticks from rolling off. This lightweight mat measures 6.5” x 9.5” and has the ability to fold into itself, shrinking to the size of a tablet or iPad. Upon expansion, the product doubles in size, providing ample space for placing nearly 2 pounds of makeup products.

The Matte is great for use at home and during travel due to its compact nature. You can find the brand on their website and on Amazon, priced at $34.99 each, with color options of black or pink. Additionally, the company offers a travel bag for makeup for $9.99. Here is where The Matte is today and their net worth as of 2024.

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The Matte on Shark Tank

Founder Melissa Clayton entered Shark Tank on April 9, 2021, presenting her clutter-reducing solution, The Matte. She sought a $100,000 investment for a 20% stake in her company. Melissa kicked off her pitch by sharing her story, followed by a detailed explanation of the brand and the inspiration behind its creation.

She then delved into her sales data, noting that all her sales originated from her website, Amazon, and a few select retailers. In 2020 alone, The Matte achieved $85,000 in sales, with an additional $20,000 in the month leading up to her Shark Tank appearance.

At the time of filming, sales had reached $200,000. The Matte, which costs $7 to produce, is sold at $24.99. Despite this success, Melissa is seeking a shark to assist in enhancing the marketing of her product.

Sharks' Reaction to the Countertop Organizer

During the Shark Tank pitch, Kevin O’Leary exited the deal and remarked,

"I haven’t bought this product, but I want the money back,”

Mark Cuban followed suit, stating that the business was not a good fit for him. Barbara Corcoran and guest shark Kendra Scott also opted out, leaving Lori Greiner as the sole remaining shark interested in the brand. Lori made an offer of $100,000 for a 33.3% stake in the company, acknowledging the challenges of growing the business but expressing her belief in its potential.

Although the founder attempted a counteroffer, Lori declined, and ultimately, Melissa accepted Lori’s original proposition.

Since Melissa Clayton's appearance on Shark Tank, The Matte has experienced a surge in sales, prompting Melissa to enlist her family's help to manage the influx of new orders. Regarding the deal with Lori Greiner, there is no official confirmation of its closure, and it is presumed that negotiations may still be ongoing.

Furthermore, the brand has achieved an impressive annual revenue of nearly $500,000 and total sales of $6 million as of 2024, with expectations of further growth. The product has garnered positive reviews and feedback on Amazon, contributing to its success. Additionally, Melissa joined the Women in Retail Leadership Circle in 2022.

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Who is Melissa Clayton?

Established in 2014 by Melissa Clayton, The Matte emerged as a remedy for reducing bathroom clutter caused by makeup products. Melissa holds a master's degree in Business Administration from the D'Amore McKim School of Business at Northeastern University and became a Certified Public Accountant for PwC in 1997.

After four years with PwC, she transitioned to Oracle, where she served as a Senior License Consultant for three years. No stranger to entrepreneurship, Melissa launched her first company, Tiny Tags, in 2006, specializing in personalized necklaces.

This venture was inspired by her quest for the perfect custom necklace. Similarly, the brand had its origins in Melissa's frustration with placing makeup on the sink's edge, prompting her to create a better solution to this common issue.

Viewers can watch the previous season, season 15, of Shark Tank on ABC or stream it on Hulu and FuboTV.