In today’s article, we will be revealing the net worth of Last Lid. We will also be discussing and talking about the success of the business. So read the article till the end to understand the topic well and to know the net worth of Last Lid. But before moving on to the section where we reveal its net worth, we will first give you an introduction to Last Lid to all of our readers. So keep reading till you reach the end and hope you learn and find amazing facts in the article. So let us get started with the topic’s explanation.
What Is Last Lid?
Kevin Kiernan and Melissa Kiernan created a water-resistant and critter-resistant kevlar fabric cover for garbage bins. The product was created out of necessity by the couple. Kevin designed the Last Lid to fit any trash can cover and keep pesky raccoons and other critters from spilling trash all over the place. The product is aptly named The Last Lid that you will ever need to cover your trash cans. The couple asked for $40,000 for a 20% share in the business. They had just designed the prototype of The Last Lid when the couple came to Shark Tank.
The couple had no sales when they came to Shark Tank, but the product was a unique one in the marketplace. Apart from its main purpose, the Last Lid has a secondary purpose, too, which is to deter the wild creatures such as raccoons that enter the garbage. It keeps them out of it and keeps the contents contained in the lid, and protects it from falling over. The shark that got interested and locked the deal with the Kiernans. Let us talk about the net worth of the last lid in the next segment.
Last Lid’s Net Worth
In this section, we will be revealing the net worth of the Last Lid and the after-sales of the product when it appeared on Shark Tank. The Last Lid cost for selling is $9.99, and free shipping charges. It is available on Amazon. Daymond John invested in the Last Lid while the other sharks rejected the product. John asked for $40,000 and a 60% share in the company. The product is still in the developmental stage. The Last Lid was eventually sold to a big retail company in the garbage can manufacturing vertical.
The couple appeared on season 3 of the show Shark Tank, which was released on 17 February 2012. Let us talk about it a bit more. Melissa holds a bachelor’s degree in Arts and Sciences from the University of Hartford. She worked as an event organizer before splitting with Kevin. Now she works as a realtor for a firm in New Jersey. Kevin has done BA in Business from Villanova University. He has a background and experience in sales and information technology, and he specializes in automotive demands.
Robert Herjavec was not interested since it was a cloth cover, and he didn’t see the value in the product. Kevin O’Leary was dissatisfied with the figures, and he claimed that there was an insufficient margin. He was out too. Lori Greiner loved the enthusiasm but not the product. So she was out too. Mark Cuban said that garbage cans are all over the place and haven’t mentioned the expenses or the cost to sell them. So he was also out.
What Happened After Shark Tank?
After Daymond John and the Kiernans made the deal, they made a video to sell directly from their website. Till now, they have not sold the product as per their expectations. They are working on a television ad, but the progress is slow, and they are not getting enough results. The product is taking more time than expected.
To sum up today’s article, we discussed what is the Last Lid what is the net worth of the product. Has it progressed or not? All about the last lid has been discussed in the article.