What happened to Posture Now after Shark Tank? Details explored

Posture Now
An individual wearing Posture Now (Image via Facebook/ @PostureNOW)

Passionate entrepreneurs Mike Lane and Matt Franklin showcased their posture correction device, Posture Now, on Shark Tank season 4 episode 3. Posture Now is a simple device that helps individuals to improve their posture. For the pitch, Mike and Matt were joined by Dancing with the Stars fame Jonathan Roberts and Anna Trebunskaya.

Mike and Lane explained numerous benefits and features of Posture Now. Their Facebook page describes it as

“Have you heard the quote, "Physiology equals psychology"? Well, now there is verified research showing that your posture affects your mood.”

It continues

“Think about it: your emotions are triggered by the way you stand and sit. Good posture helps keep your back healthy and pain-free, but it also makes you happy!”

Their original ask was $100,000 for 15%, which Mark Cuba countered for 30% equity and $5 per unit loyalty until the debt is repaid. After the Shark Tank episode aired, the duo sold their product for over $100k.

Posture Now at Shark Tank

Shark Tank season 4 episode 3 showcased an exciting pitch by entrepreneurs Mike Lane and Matt Franklin. Sharks on the episode included Mark Cuban, Barbara Corcoran, Kevin O’Leary, Daymond John, and Robert Herjavec. Posture Now, a posture corrector, is relatively straightforward to wear, like a shirt. It can be worn inside and outside regular clothes.

While pitching the product, dancers Anna Trebunskaya and Jonathan Roberts from Dancing with the Stars entered, dancing their way into the show. They were there to support Mike and Matt and describe the importance of good posture. Robert also wore a Posture Now during the dance.

According to Matt and Mike, good posture makes individuals look taller and thinner and makes them feel more confident. They claimed that wearing it for half an hour regularly helps an individual’s body train muscles to have a good posture through muscle memory. Moreover, the posture corrector’s price was $40, with a money-back guarantee from the entrepreneurs.

Their website posturenow.com offers a money-back guarantee and describes the product as:

"We're 100% confident that PostureNOW will improve your posture, like it has for tens of thousands of happy customers. But if you want to return it, for ANY reason within 30 days, we'll make it as easy as possible."

With a pending patent, they have sold more than $330k of Posture Now over the years. They were also associated with many chiropractor endorsements.

Mike and Matt’s original request was for $100k for a 15% share of the business. Kevin’s counteroffer was $100k for 50% of the company and a 10% royalty, which Mike and Matt rejected.

Daymond shared that Mike and Matt do not belong in Shark Tank, and they talk too much. According to Barbara, she liked the entrepreneurs; however, she was out. Initially, Robert offered $100k for 40%, but he pulled out after he felt Mike and Matt were working the room.

Mark’s offer was $100k for 30% of the company and a $5 royalty for each unit sold until the debt was fulfilled. They both accepted the offer.

What happened to Posture Now after Shark Tank?

After the Shark Tank episode aired, Mark Cuban’s investment turned out to be quite beneficial.. By March 2013, they were touring various factories while developing new products. Since that time, they have produced various other products.

With consistent sales over the year, Posture Now had grown with an annual revenue of $6 million by August 2021. After that, there were some issues related to their supply chain, and their website, as well as Facebook, shows they are sold out due to the following:

“High demand coupled with global supply chain and supplies issues.”

Their website also contains many positive reviews from recognized brands, including CNBC, ABC, Lifetime, CNN, and many more.

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