Pitch Introduction
Stakt Mat appeared on Shark Tank Season 14 Episode 1 asking $100,000 for 10% equity, pitching the first foldable yoga mat that doubles as a workout bench. Founders Taylor Borenstein and Millie Blumka walked away with a $100,000 deal from Lori Greiner for 15% equity plus a per-unit royalty.
Business Overview
Product/Service: The Stakt Mat is a 2x thicker, foldable fitness mat that transforms into a stable platform for step-ups, tricep dips, incline push-ups and more. Problem It Solves: Traditional yoga mats are too thin for joint comfort and can’t support dynamic strength moves. Target Market: Yoga practitioners, home-fitness users, physical-therapy patients and boutique gyms. Unique Selling Proposition (USP): Only mat that folds into a 2-inch thick bench while still rolling for storage.
| Company Details | Data |
|---|---|
| Website | shopstakt.com |
| Launch Year | 2021 |
| MSRP | $86 |
| Landed Cost | $18 |
| Gross Margin | 79% |
| Ask on Show | $100k for 10% |
About Founder’s
Millie Blumka and Taylor Borenstein met while working at the same New York City digital-marketing agency. Millie, a certified yoga teacher, complained about thin mats hurting her knees. Taylor, a fitness enthusiast, wanted a portable bench for small-apartment workouts. They prototyped the foldable foam design during 2020 lock-downs, filed utility and design patents, and boot-strapped $45k to land their first 1,000-unit production run.
- Both founders left corporate jobs to run Stakt full-time
- Self-funded through pre-orders on Kickstarter
- Featured in Shape, Men’s Health & Well+Good before Shark Tank
- Donate portion of October sales to breast-cancer research
Shark’s and Founder’s QnA
Lori Greiner: What exactly is the Stakt Mat?
It’s a 7-mm thick mat that folds like an accordion into a 2-inch platform so you can do step-ups, dips and modify planks without buying extra equipment.
Mark Cuban: How is this different from stacking two cheap mats?
Stacking slides and creases; our patented fold-lock system keeps panels rigid and evenly supports 350 lb.
Kevin O’Leary: What are your sales?
We launched 10 months ago and have sold $1.1 million direct-to-consumer through shopstakt.com.
Barbara Corcoran: What did it cost you to make?
$18 landed including duty from Taiwan; we retail at $86 and wholesale at $55.
Robert Herjavec: Are you profitable?
Yes, net margin is 22% after marketing spend; we put every dollar back into inventory.
Lori Greiner: Why do you need a Shark?
We need purchase-order financing for a 10,000-unit Best Buy test and want your QVC expertise.
Kevin O’Leary: I’ll give you $100k for 10% plus $10 per unit royalty until I recoup $300k.
We countered $100k for 12.5% no royalty; Kevin refused.
Daymond John: I’m out, it’s too early for me.
Thank you, Daymond.
Mark Cuban: I’m out, customer-education cost worries me.
We appreciate your time.
Barbara Corcoran: I’ll give you $100k for 25%.
We asked if she would do 15%; she said no.
Lori Greiner: I’ll do $100k for 15% plus $2 royalty per unit in perpetuity.
We accepted immediately.
Key Stats & Financials
Stakt Mat entered the Tank with strong early traction: $1.1 million revenue in under a year, 79% gross margin and 22% net margin. Lori Greiner’s $100,000 investment valued the company at $667,000 post-money, 33% below the founders’ original million-dollar ask.
- Sales: $1.1 million lifetime, $86k average monthly
- Margins: 79% gross, 22% net after $20k/month ads
- Valuation: Dropped from $1M to $667k to secure Lori’s expertise
- Investment Request: $100k for 10%, closed at 15% + $2 royalty
- Use of Funds: 10,000-unit Best Buy test and QVC launch inventory
| Metric | Value |
|---|---|
| Retail Price | $86 |
| Landed Cost | $18 |
| Units Sold | ~13,000 |
| Return Rate | 6% |
| Patents Filed | 2 (utility + design) |
Business Potential and TAM
The global yoga & exercise mat market is projected to reach $17 billion by 2026. Stakt’s fold-in-half design lets it tap both the $6 billion yoga-mat segment and the $3 billion home-gym accessories segment, opening shelf space in sporting-goods, big-box and department stores.
- 15% of U.S. adults practice yoga at home—32 million people
- Post-pandemic home-fitness equipment sales up 40%
- average yoga-mat replacement cycle is 18 months
- Stakt’s utility patent creates 20-year barrier to direct copies
Stakt Mat: Ideal Target Audience & Demographics
| Demographic | Details |
|---|---|
| Age | 25-45 yrs |
| Gender | 70% female, 30% male |
| Income | $70k+ household |
| Location | Urban & suburban USA |
| Lifestyle | Boutique-fitness & wellness apps |
Marketing and Distribution Strategy
Pre-show Stakt relied on Instagram Reels, micro-influencers and PR features. Post-deal Lori Greiner put Stakt on QVC within 90 days, selling 4,000 mats in 12 minutes. Best Buy rolled the mat into 300 stores for holiday 2022. Future roadmap includes lighter “travel” version, eco-foam material and subscription workout-content app.
- QVC “Today’s Special Value” drove $344k in one day
- Affiliate program with 200 yoga influencers
- Wholesale price $55 gives retailers 40% margin
- 2024 target: 100k units and $7 million revenue
Stakt Mat Deal Outcome
Lori Greiner invested $100,000 for 15% equity plus $2 per-unit royalty in perpetuity. The royalty clause ends if Lori sells her equity back to the founders. The deal closed in November 2022 and triggered rapid retail expansion.
| Shark | Deal Terms |
|---|---|
| Lori Greiner | $100k for 15% + $2 royalty/unit |
| Company Valuation | $667k post-money |
| Royalty Duration | Perpetual unless equity sold |
| Deal Status | Closed Nov 2022 |
Stakt Mat Post-Show Update
By mid-2023 Stakt had surpassed $3 million lifetime revenue, triple the on-air figure. The mat is now stocked in 500+ Best Buy stores, Dick’s Sporting Goods and Amazon Prime. A mini travel mat launched Q1 2024, and the founders project $7 million top-line for 2024.
Business Analysis & Lessons
Stakt succeeded because the founders proved demand with $1.1 million in bootstrapped sales and protected IP with patents. They accepted a royalty to secure Lori Greiner’s retail expertise, illustrating how giving up short-term margin can accelerate long-term distribution. The pitch also shows the power of a physical demo—every Shark touched and folded the mat before making offers.
- Validate market before raising capital
- IP protection creates negotiation leverage
- Retail-expert investors justify royalty trade-off
- Live demo beats PowerPoint every time
Pitch Conclusion
Stakt Mat’s Shark Tank journey proves that solving a simple pain point—thin, flimsy yoga mats—can build a multi-million-dollar brand. Lori Greiner’s $100,000 investment plus retail prowess turned a clever fold into nationwide shelf space. Follow shopstakt.com for new colors and the upcoming travel version, and drop your workout questions below!