For most individuals, a nasty hair day normally begins after getting off the bed. This was Max Valverde’s drawback till he created Morninghead, a bathe cap you employ to rapidly restyle your hair within the morning. Max pitched the product on Shark Tank and received some laughs however no deal. As of 2024, Morninghead is value an estimated $200,000.
About the Founder
Max Valverde hails from Park City, Utah, and moved to Rhode Island, to pursue a bachelor’s diploma in mechanical engineering at Brown University. He graduated in 2006 with the world at his toes.
A 12 months after graduating, he was employed as Manager for International Sales and Engineering at a development firm referred to as Sika EMSEAL. He held on to his place for over six years.
Founding Morninghead
Max is a busy man with plenty of hobbies. After work, he performs basketball or goes for a hike. When he will get dwelling, he takes a bathe and hits the hay. When he wakes up, he’s usually greeted with a messy bedhead.
Valverde received bored with wetting his hair within the sink and didn’t need to bathe once more within the morning. So, the Boston native got here up with a brand new answer, Morninghead. Instead of utilizing it within the bathe, you should use it on the go by filling it with water and letting the hair take in the wetness. The enterprise began in 2012 and made $36,000 in 18 months.
Shark Tank Pitch
In 2014, the producer of Shark Tank reached out to Max Valverde, though hesitant at first he agreed to pitch on the present. He appeared in season 5 of the present, in search of $25,000 for 20% fairness. An affordable valuation for a product that has the potential to go viral!
Max strolled into the Tank with messy hair and rapidly demonstrated the way it labored. Once Sharks heard the identify of the product, they have been laughing like faculty youngsters. Max gave knowledgeable pitch however all of the Sharks did was snort and mock the concept.
Morninghead had offered 7,000 items in over 42 international locations which shocked the Sharks however they didn’t view it as a viable enterprise. The man was solely asking for $25,000 and the Sharks have been behaving like he needed half one million. Sadly, Max went dwelling empty-handed.
After Shark Tank
Despite not getting a deal, the enterprise continues to be going 8 years later. While it hasn’t been an enormous success, the enterprise largely runs on autopilot with Amazon success. Max’s spouse additionally helps out. It’s by no means going to be one million-greenback enterprise however is a pleasant small aspect hustle to earn further revenue.
Max left the startup to turn into the Chief Commercial Officer at a buddy’s startup, FareHarbor. He finally served because the CEO after it was acquired by Booking.com in 2018. Presumably, Max owned sufficient fairness within the FareHarbor to turn into a millionaire.
Morninghead’s social media is now silent nevertheless it’s nonetheless promoting effectively with none promotion. The product is barely for sale via their web site and Amazon.
The distinctive bathe caps have a median star ranking of three.3 from over 370 opinions on Amazon. No latest gross sales figures have been launched nevertheless it’s estimated to make $50,000 in annual income. Morninghead is at the moment value an estimated $200,000.
