For most people, a bad day starts when they wake up. That was Max Valverde’s problem until he invented Morninghead, a shower cap for quickly re-doing your hair in the morning. Max pitched the product on Shark Tank, which got some laughs but no sales. As of 2024, Morninghead is valued at $200,000.
Max Valverde’s Background
Max Valverde is originally from Boston but moved to Rhode Island to pursue a bachelor’s degree in mechanical engineering at Brown University.
After graduating in 2006, he was hired by a construction company called Sika EMSEAL as an International Sales and Engineering Manager. He worked there for more than six years.
Founding Morninghead
Max is a busy man with many hobbies. After get off work, he plays basketball or goes hiking. When he gets home, he takes a shower and goes to sleep. When he wakes up, he usually sees a mess of hair.
Valverde was tired of getting his hair wet in the sink and didn’t want to shower in the morning. The Boston native came up with a solution, Morninghead. Instead of using it in the shower, you simply fill your hair with water and let it absorb the moisture. The business started in 2012 and made $36,000 in 18 months.
Shark Tank
In 2014, Max Valverde was contacted by a producer from Shark Tank. Despite some initial hesitation, he agreed to participate in the fifth season in exchange for a 20% stake in the company for $25,000. A fair valuation for a product that had the potential to be a hit!
Max walked into the tank with messy hair and gave a quick demonstration of how it worked. As soon as the sharks heard the name of the product, they giggled like school kids. Max gave a professional presentation, but the sharks just laughed and laughed at the idea.
Morninghead sold 7,000 units in 42 countries, which amazed Sharks, but they didn’t think it was a viable business. The guy only asked for $25,000, and Sharks acted like he wanted $500,000. Sadly, Max left with nothing.
After Shark Tank
Although the deal didn’t happen, the company is still going strong a decade later. While not a huge success, the business runs mostly on Amazon Logistics Autopilot. Max’s wife helps out, too. It’s never going to be a million-dollar business, but it’s a nice side hustle to make some extra money.
Max left the startup to become chief business officer at a friend’s startup, FareHarbor, and eventually became CEO after the company was acquired by Booking.com in 2018. Max’s stake in FareHarbor is speculated to have made him a millionaire.
Valverde has been training to compete for the U.S. Ski Mountaineering Team for the 2026 Winter Olympics since May 2023. He is sponsored by Backcountry and the competition will be held in Milan-Cortina.
Morninghead’s social media is now silent, but it is still selling well without any promotion. The product is only sold through its website, eBay and Amazon. As of April 2024, the product is out of stock on Amazon and eBay.
This unique shower cap has over 380 reviews on Amazon with an average rating of 3.4 stars. Recent sales figures have not yet been released, but estimated annual revenue is $50,000. Currently, Morninghead is valued at $200,000.
Categories: Shark Tank
Source: svlsf.edu.vn