A two-time business owner and founder of a foldable sink cover to add counter space for applying cosmetics landed a deal this past weekend on ABC’s Shark Tank.
Entrepreneur Melissa Clayton joined a rare episode of Shark Tank on April 9 featuring jewelry designer Kendra Scott, where she pitched her sinktop product, The Matte. Clayon and Scott immediately bonded over Clayton’s first business: Tiny Tags, a custom-jewelry store for mothers.
However, their on-air connection wasn't' enough to land Clayton an investment deal with Scott, who is not one of the regular "sharks" but has been visiting for some episodes this season. Instead, Clayton landed an investment from one of the Shark Tank regulars: Lori Greiner, the so-called "Queen of QVC."
“I was disappointed that because of COVID that we could not interact closely but I look forward to contacting Kendra Scott further and seeking mentorship opportunities from here," Clayton said.
Clayton, who lives in Acton, was on the show seeking $100,000 for 20% equity in her company, The Matte. She demonstrated the foldable sink cover, which is large enough to hold two pounds of weight. For traveling or storage, the product can be folded to about the size of an iPad. She called it a "must-have essential" for anyone who has limited bathroom space or is always traveling.
The three-year-old company has sold $20,000 worth of the product in the 30 days prior to the Shark Tank appearance, Clayton said on the episode, and has done about $200,000 in lifetime revenue.
Those numbers impressed Greiner enough to offer Clayton $100,000 for 33.3% equity in her company, which Clayton accepted during the episode.
“I want to do it, and I want to blow it up for you,” Griener said, confirming her stake as a one-third partner in the company.
Sine the show has aired, Clayton has seen an increase in product sales and support from the Boston community.
“The power of the show was pretty amazing to me for me, for The Matte and for Tiny Tags. We’ve received so many emails inquiring about product partnerships, potential internship opportunities for people in my town," Clayton said.
