Are you always irritated by the fact that you cannot get your expensive makeup products out of the crevices of the containers?
Or, Are you a person who loves using every bit of their food products and is unable to do so due to the product getting stuck in unreachable places?
Well, Spatty is here to help you reach the unreachable! Be it your expensive foundation or your favorite honey-mustard sauce, Spatty has got them all covered, with its unique design that helps your product out within seconds.
Spatty at a Glance:-
| Idea | Micro Spatula for getting the last bits of product from mini containers |
| Founders | Cheryl Rigdon |
| Asked For | $50,000 for 40% |
| Accepted Deal | None |
| Sharks | None |
| Business status | In Business |
| Episode No. | Season 4, Episode 5 |
| Buy on Amazon | Buy Now! |
Index:
What is Spatty?
Spatty (also known as Spatty Daddy) is a special spatula made of silicone that helps users scoop out every last bit of their favorite products out of the container.
It is a micro-spatula that reaches out to corners and places in a container that are difficult to reach with a regular spatula.
The spatula, initially designed for makeup products can also be used for food products such as mustard and other semi-liquid products that are difficult to remove from the containers.
It is a practical tool designed to reduce wastage and increase the efficiency of product usage.
Founder Story:
Cheryl Rigdon, a certified professional in speech pathology, developed Spatty.
The idea of creating Spatty struck Cheryl when she was unable to get the last bits of her expensive foundation out of the bottle. After some research, she realized that she was not the only one to face this problem.
She identified this as an opportunity to reduce waste and save money.
Spatty was then designed specially to scrape out the unreachable remnants of products in containers. She then started manufacturing the prototypes of her patented product.
Did Spatty get a deal on Shark Tank?
Cheryl reached Shark Tank in hopes of getting a deal with the sharks, who could help her manage her business well. She proposed a 40% stake in her company in exchange for $50,000.
She then presented her product and told them that she did not have any sales to date owing to her lack of business and market knowledge.
Though most of the Sharks liked her product, they were dicey about the fact that she actually wanted to convert her venture into a full-fledged business.
Cheryl also had no understanding of how to run a business since she had zero sales even after having a near-perfect product.
Due to all these reasons, the Sharks started dropping off the deal one by one.
Ultimately, the owner had to return without securing a deal from any of the Sharks with a promise from Daymond for his help in connecting Cheryl to Makeup companies.
What happened to Spatty after Shark Tank?
Spatty grabbed a lot of attention after the episode aired online, pushing Cheryl into lots of limelight that helped the company secure a number of “pre-orders”.
The first production mold and prototype run were done in November 2012 and the orders were reliably sold shortly after. The production of the products is now fully operational and is available for purchase on Amazon.
Daymond also kept his word and helped Cheryl get through to major makeup companies. He also ended up mentoring her and steering her towards licensing deals.
Fast forward a few years, Cheryl has her products in Bed Bath and Beyond, Wal-Mart, and Target. As of 2020, she is making $1 million in revenue with the idea of introducing themed Spatties as well.
Product Details:
- Spatty is like a tiny spatula that helps fish out the unreachable remnants of products.
- It is available in different sizes, with the smaller ones for narrow containers like lotion bottles and the large ones for wider jars like mayonnaise.
- Spatty is made of sturdy and dishwasher-safe material which ensures durability and ease of cleaning.
- It has a flexible tip allowing it to scrape the sides of the container effectively.
- It supports a sustainable lifestyle by reducing the amount of product packaging in landfills.
What’s the net worth of Spatty?
Spatty entered the tank with an ask of $50,000 in exchange for 40% stakes in the company, evaluating it to $125,000.
Even though the company had to leave the tank without any deal, it has been making significant progress in its revenue and profit.
The Net Worth of Spatty as of February 2022 is estimated to be around $4 million.
The Net worth is only expected to increase in the forthcoming years due to the high demand for the product.
Who are the competitors of Spatty?
Spatty is a combined venture in both the makeup and food industry, hence it is bound to have a number of competitors from both industries. Some of them are listed below:
- Jacobesquenazi
- Coopway International Ltd.
- Apexchef
- SimPrium
Is Spatty still in business?
Yes, Spatty has continued to be in business even without securing a shark deal.
The company has progressed towards a revenue of $1 million annually from the time she entered the show and had no sales to report, the company has definitely come a long way.
Social Links:
Do Share Your Thoughts:
Do tell us all your thoughts in the comments section below, we look forward to reading all the comments in the section below.
Also, don’t forget to try our Android app 📱 which contains startup case studies and business book insights 📚 , verified business strategies, and no bullshit!!
Related Articles:
FAQs:
What is Spatty?
It is a micro-spatula that reaches out to corners and places in a container that are difficult to reach with a regular spatula.
What's the net worth of Spatty?
The Net Worth of Spatty as of February 2022 is estimated to be around $4 million.
