Mod Mom Furniture Update | Shark Tank Season 02
Kiersten Hathcock pitched in Shark Tank (Season 02), seeking an investment of $90,000 for a 25% stake in her Mod Mom Furniture brand. The company manufactures handmade designer wooden toy boxes for kids.
She got a deal of $90,000 for 33% equity from Robert Herjavac, but he refused to invest after the show. Will Kiersten save the company after Robert’s refusal? Find out in the Mod Mom furniture company update.
Shark Tank Mod Mom Furniture Update (2024)
If you’re in a hurry and don’t have time to read the whole story, here’s a brief overview of what happened to Mod Mom furniture after Shark Tank.
Kiersten Hathcock pitched in Shark Tank (Season 02) for $90,000 in exchange for 25% equity. In her pitch, she said that the company’s annual revenue is $34,000.
Kevin O’Leary gave her an offer of $90,000 for 33% equity along with a 7.5% royalty on every sold product until his investment is recovered.
Immediately, Robert Herjavac gave her an offer of $90,000 for 33% equity without any royalty. Kiersten accepted Robert Herjavac’s offer in the tank.
But, back of the show, Robert decided not to invest in her company because he thinks it’s a small business.
It was disappointing and challenging for Kiersten to save the company. However, she accepted this challenge and borrowed $30,000 from friends and family to grow the Mod Mod company.
Once the episode aired on television, her website received plenty of customers. The company sale is boosted exponentially.
After a few months, Kiersten received an offer from a San Francisco-based investor at a much higher valuation than what Robert offered in the tank.
In the next few months, she eventually landed a licensing deal with Stanley Furniture to introduce Mod Mom internationally. However, this deal has not lasted very long due to financial reasons.
In 2014, Kiersten suffered a lot due to personal and professional reasons. She separated from her husband, and Mod’s Mom was back on the burner until 2017.
In 2018, Kiersten and Scott (her husband) got back together and she got licensing with Little Colorado, a kid’s furniture manufacturer.
In May 2022, Mod Mom came back on track, and its annual revenue grew to $2 million. However, in 2024, she decided to wrap up everything and move on. As of now, no products are listed on the Mod Mom furniture store, and it seems like the company is shut down.
Mod Mom Shark Tank Pitch/Episode Recap
In Shark Tank S02E03, Kiersten introduced Mod Mom furniture among Sharks with an ask of $90,000 for 25% equity.
She presented her unique and attractive handmade wooden toy boxes for kids. In her pitch, she said that Mod Mom’s annual revenue is $34,000, and the profit margin is over 75%.
The sharks were interested to know more about the products. Kiersten said that each products are handmade and costs approximately $115. The retail price is $475, including shipping charges.
She wanted to set up a manufacturing unit with “Amish Manufacturer” in Ohio. For that reason, she came to Shark Tank.
After inspecting all financial details, Kevin O’Leary offered a deal of $90,000 for 33% equity along with 7.5% royalty on each unit sold until he got his investment back.
After that, Robert Herjavac also gave an offer of $90,000 for 33% equity without any royalty.
She happily accepted the Robert Herjavac offer. Other sharks didn’t find this business relevant, so they decided to stay out of the deal.
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Conclusion
Robert Herjavac offered to invest $90,000 for 33% equity in the tank, but he decided to back out for some reasons. After that, Kiersten borrowed $30,000 from friends and family to grow the Mod Mod business. But, due to personal problems, this business was shut down in 2023 despite an annual revenue of $2 million. Kiersten suddenly started channeling the spirits of kids who were killed by sexual predators.
