Novel Effect Shark Tank Update

Novel Effect Shark Tank Pitch

Matt Hammersley and Melissa Hammersley appeared on Shark Tank Season 9, Episode 6, which aired on October 29, 2017, with Voice interactive children’s storytelling app.

Novel Effect is listed in the Software Tech category. In plain terms, the business is described as Voice interactive children’s storytelling app.

Novel Effect asked the Sharks for $500,000 for 10%, implying a valuation of about $5 million.

On the show, Novel Effect made a listed deal with Lori Greiner for $500,000 for 15%.

If treated as straight equity, the listed deal works out to about $3.3 million implied valuation, down from the original $5 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Novel Effect After Shark Tank

Novel Effect accepted an on-air Shark Tank deal for $500,000 for 15%. The on-air deal did not close. The company is still in business. (Novel Effect Shark Tank Update

Instead, in 2018, they raised $3 million from Amazon, Alpha Edison, TenOneTen Ventures and Waverley Capital. (Novel Effect Shark Tank Update

In December, 2020, they added to their library of 750 plus children's books by partnering with the Jim Henson Company. (Novel Effect Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches