For most people, a bad hair day usually starts after getting out of bed. This was Max Valverde’s problem until he created Morninghead, a shower cap you use to quickly restyle your hair in the morning. Max pitched the product on Shark Tank and got some laughs but no deal. As of 2022, Morninghead is worth an estimated $200,000.
About the Founder
Max Valverde hails from Park City, Utah, and moved to Rhode Island, to pursue a bachelor’s degree in mechanical engineering at Brown University. He graduated in 2006 with the world at his feet.
A year after graduating, he was hired as Manager for International Sales and Engineering at a construction company called Sika EMSEAL. He held on to his position for over six years.
Max is a busy man with a lot of hobbies. After work, he plays basketball or goes for a hike. When he gets home, he takes a shower and hits the hay. When he wakes up, he’s normally greeted with a messy bedhead.
Valverde got tired of wetting his hair in the sink and didn’t want to shower again in the morning. So, the Boston native came up with a new solution, Morninghead. Instead of using it in the shower, you can use it on the go by filling it with water and letting the hair absorb the wetness. The business started in 2012 and made $36,000 in 18 months.
Shark Tank Pitch
In 2014, the producer of Shark Tank reached out to Max Valverde, although hesitant at first he agreed to pitch on the show. He appeared in season five of the show, seeking $25,000 for 20% equity. A reasonable valuation for a product that has the potential to go viral!
Max strolled into the Tank with messy hair and quickly demonstrated how it worked. Once Sharks heard the name of the product, they were giggling like school kids. Max gave a professional pitch but all the Sharks did was laugh and mock the idea.
Morninghead had sold 7,000 units in over 42 countries which surprised the Sharks but they didn’t view it as a viable business. The guy was only asking for $25,000 and the Sharks were behaving like he wanted half a million. Sadly, Max went home empty-handed.
After Shark Tank
Despite not getting a deal, the business is still going 8 years later. While it hasn’t been a huge success, the business mostly runs on autopilot with Amazon fulfillment. Max’s wife also helps out. It’s never going to be a million-dollar business but is a nice small side hustle to earn extra income.
Max left the startup to become the Chief Commercial Officer at a friend’s startup, FareHarbor. He eventually served as the CEO after it was acquired by Booking.com in 2018. Presumably, Max owned enough equity in the FareHarbor to become a millionaire.
Morninghead’s social media is now silent but it’s still selling well without any promotion. The product is only for sale through their website and Amazon.
The unique shower caps have an average star rating of 3.3 from over 370 reviews on Amazon. No recent sales figures have been released but it’s estimated to make $50,000 in annual revenue. Morninghead is currently worth an estimated $200,000.