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Monkey Mat Shark Tank Update

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We all have experienced a lack of space to sit on. A clean space, especially for the little ones or at parks, beaches, etc. Can we get the comfort of such space with minimal effort?

Luckily, Christie Barany & Courtney Turich have come up with the Monkey Mat – a mat that is waterproof, five by five in the area, and comes in a handy pack with easy loops on the corner and center to secure and weights on corners to let the mat stay in place.

The unique handy design was an advantage with its utility value which allows babies, kids, and even adults to have their space in camps, picnics, and even floors. Will the Monkey Mat win the Sharks Investments Hat?

Monkey Mat at a glance.

Business ideaMake your space any place: children’s play mat
FounderChristie Barany & Courtney Turich
Asked for$100,000 for 30%
Accepted deal$100,000 for 35%
SharksLori Greiner and Mark Cuban
Business statusIn business
EpisodeSeason 5, Episode 22
WebsiteMonkey Mat
Buy on AmazonBuy Now!
Monkey mat at a glance

Index:

Founder Story:

Christie and Courtney have been friends for almost 10 years in a medical device company and become friends. The duo is the innovative founders of Monkey Mat. The idea came into being when Christie was at the airport and her two beautiful daughters were playing on the dirty floor, racing around and she couldn’t do anything about it.

Both friends came on to think of an idea of how to keep a place for yourself anywhere you are with a portable mat. The idea of a 5-foot-by-5-foot mat came in 2012, which is water and sand-repellent and can be used at camps, picnic also has loops to secure them at the center and at the corners with special weights to hold them in place.

The product design is unique as it comes in a small handy pack that can be attached to any bag, handbag, or sling to make it easier to carry it around.

Did Monkey Mat get a deal on shark tank?

Christie and Courtney approach the shark tank episode for a pitch of $100,000 for 30%. Christie explains her long 6 hours of ordeal at the airport with her two beautiful kids crawling on the floor which she could not resist anymore, and the idea was born with the duo coming up with Monkey Mat.

They hand out the samples, and when questioned on their current sales, explain their $60,000 in sales across 51 physical stores, with three stores outside the US.

The selling price of the Monkey Mat was $39.99, and the cost to produce them was in the $13-$14 range which was due to the special ripstop nylon and the steel plate on the corners to hold the weight. Sharks were keen to contest if the price can be brought down but Kevin and Robert do not believe it and go out.

See also  PittMoss Shark Tank Update

Lori Greiner was confident it can be brought down and Mark Cuban was strong in his views that if it was brought down to $9.95 then it can be sold in the mass retail market. Lori and Mark made an offer of $100,000 for a 35% equity stake and both Christie and Courtney happily accepted the offer and deal.

What happened to Monkey Mat after shark tank?

The Shark Tank episode gave the duo the right momentum to push their business to the next level. The sharks did close the deal.

They took Barbara’s comments to heart by bringing down their prices to $19.99 which was a good price to get into Mass retail stores like Amazon. The company also introduced additional product lines – Quilt Monkey Mat, Mini Monkey Mat, and much more.

In addition to their original portable, lightweight, and water-resistant mat, the company now offers a variety of accessories such as carabiners, straps, and bags. They have also introduced new mat designs, including a larger version and one with a built-in cushion.

The company has received positive reviews from customers and has expanded its distribution channels to include major retailers like Walmart and Amazon. Overall, Monkey Mat’s appearance on Shark Tank has helped to boost its brand recognition and led to continued success in the outdoor and travel gear market.

Although in 2023, the website is not active, and social media handles also seem inactive.

Product details:

  • The product is a 5 by 5-foot mat, with water and sand resistance.
  • Ultra-Compact Blanket of 12 Oz, made up of Ripstop Nylon.
  • Monkey Mats are machine washable.
  • Good enough for 4 sitting adults.
  • Comes with an ultra-compact pouch. Corporate gifting options are also available.
  • Options are Mini Monkey Mat, Original Monkey Mat, Quilted Monkey Mat, Plush Monkey Mat, and Mega Monkey Mat.

What is the net worth of Monkey Mat?

Monkey Mat did a revenue of $700 K in 2021 and is not doing so great and Courtney left the business in 2017. At the time of Shark Tank, they were valued at around $333,000 as per the founders and finally Shark valued it at $285,000.

Is Monkey mat still in business?

The company seems to be done as its website is not functional anymore. Monkey Mat products are available on Amazon but only for a particular product line and many are unavailable. In 2023, the website is not active, and social media handles also seem inactive.

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FAQs:

What is Monkey Mat?

Monkey Mat is a mat that is waterproof, five by five in the area, and comes in a handy pack with easy loops on the corner and center to secure and weights on corners to let the mat stay in place.

What's the net worth of Monkey Mat?

At the time of Shark Tank, they were valued at around $333,000 as per the founders and finally Shark valued it at $285,000.

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