|SEASON 7 EPISODE 17|
|Pitch||Men’s custom tailor app for clothes that fit perfectly|
|Asked For||$2,500,000 for 10%|
What is Mtailor?
Technology has made life easy; at the tap of a button, you can order any product without physically going to the shops. However, buying clothes online had been a challenge, until MTailor came to the rescue. MTailor is a mobile application compatible with Android and iOS, where users can take their measurements before ordering custom-fitting clothes. The users have got around 10000 clothing options at their disposal.
Who Owns Mtailor?
Miles Penn found MTailor in 2013. Before making this novel app, he was a student at Stanford University. He started making the application in school, and when the prototype worked, he started the company. Miles Penn is the current CEO of Bit Body, Inc., the parent company of MTailor.
Miles Penn admits that he likes ordering products from online shops. Unfortunately, he had a bad experience when he kept getting odd-fitting clothes from online shops. These frequent frustrations gave him an idea to create a solution.
He was also motivated to create the app as he felt that going to the mall was a waste of time. Miles felt that he could use that time to do other tasks. To avoid the challenges he has faced, MTailor has been built to capture 17 points on a person’s body accurately.
The company alleges that the product is accurate than a tailor and only takes 30 seconds to take the measurements. Another selling point of MTailor would be its cost, which is 50% off the retail costs, and the shirt gets delivered at your doorsteps.
What Happened to Mtailor After Shark Tank Update
Did Mtailor Get a Deal on Shark Tank?
Miles Penn entered the Shark Tank seeking a $25 million valuation for his company, Mtailor, but left with no Shark and no deal.
Initially released to the App Store, the Mtailor app is currently now available in the Google Play Store as well where it has a 4.11 star rating and nearly 600,000 downloads. Mtailor reviews have been very positive. The app has been described as perfect for those who would rather not go shopping or for those who often have trouble finding proper fitted clothing.
Is Mtailor still in Business?
Penn survived the Shark’s harsh criticism and Mtailor has continued on to become a very successful company. The company has raised a total of $7.2 million in funding including $5.2 million from Khosla ventures in 2018.
In early 2020, the company launched a new product, MTailor Masks, that are free with every order but can also be purchased separately. The masks which work as a protective cloth covering, are part of Mtailor’s initiative to help prevent the spread of the COVID-19 virus.