Novel Effect Net Worth Shark Tank Update 2025

Matt and Melissa Hammersley created Novel Effect to make story time fun and exciting. They wanted to make reading books magical for kids. Novel Effect is an app that adds sound effects and music to children’s books as you read aloud. The app uses voice recognition to play sounds and music that match the story. Matt and Melissa came to Shark Tank to pitch their idea. They wanted $500,000 for 10 percent of their company.

 In the episode, they showed how their app worked and explained their plans to grow the business. The sharks had many questions about the product. Some sharks dropped out because the company had no revenue. Will the entrepreneur get a deal on Shark Tank? Check out the Novel Effect update to find out!

Novel Effect Net Worth Shark Tank Update 2025

Matt and Melissa Hammersley asked for a $500k investment in exchange for 10% equity in their company. This meant they valued their company at $5 million. They made a deal with Lori Greiner for $500k in exchange for 15% equity, which valued their company at approximately $3.33 million. After the show aired, Novel Effect saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Novel Effect is about $5.4 million.

Novel Effect is still in business and doing well today. After Shark Tank the deal with Lori Greiner did not go through. The company found success on its own. In 2018, they raised $3 million from investors like Amazon and Alpha Edison. This helped them improve the app and create an Android version in 2019. They raised another $1.2 million later.

In 2020, they partnered with the Jim Henson Company to add sound effects to Muppet books. Novel Effect now has over 750 titles in its library. They also made the app work on Chromebooks for schools in 2023. The company makes about $4 million every year. Novel Effect has been featured in many places like Forbes and The Today Show. It is still growing and helping make storytime magical for kids.

Yes Novel Effect got a deal on Shark Tank. Matt and Melissa asked for $500,000 for 10 percent equity. Lori Greiner offered $500,000 for 20 percent equity. Matt countered with $500,000 for 12.5 percent equity. Lori came back with $500,000 for 15 percent equity. After some thought, Matt and Melissa agreed to Lori’s offer. However, after the show, the deal with Lori did not happen. The company still found success with other investors.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Sara Blakely (Guest Shark)	Out	N/A	N/A
Kevin O’Leary	Out	N/A	N/A
Daymond John	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A
Lori Greiner	$500,000 for 20% equity	#1 $500,000 for 12.5% equity #2 $500,000 for 13% equity #3 $500,000 for 15% equity	Yes to 3rd offer

Novel Effect Shark Tank pitch

Prior to establishing Novel Effect Matt and Melissa Hammersley were parents. Their goal was to increase children’s enjoyment of reading. As parents, they observed that children enjoyed hearing stories. However, they believed that tale time should be improved. Their goal was to use music and sound effects to make books come to life. Matt had previously worked as a patent lawyer.

This helped to safeguard their concept. He ensured the safety of the technology. Together, they developed the app. They had a tiny book collection at initially. They were aware that the app could expand. The difficulty was figuring out how to monetize the app.

They wanted to expand their company but didn’t know how to make it lucrative. The Sharks on Shark Tank were quite concerned about the absence of revenue. But the Hammersleys were not to be discouraged. They continued to put in a lot of effort and looked for ways to raise funds. They kept going forward because they were passionate about making something unique for children.

Novel Effect’s creators went to Shark Tank hoping to raise $500,000 for ten percent of their company. They intended to expand the app using the funds. They wanted to upgrade the system and add additional books. They read a children’s story to show how the software operated. The application activated sound effects while they read aloud. The scenario came to life thanks to these sound effects.

To determine when to play the noises, the software used voice recognition. The sound effects were expertly created, according to the founders. They collaborated with video game and film sound creators. Additionally, each book’s music was carefully selected to complement it. The founders of the app intended to expand its tiny library of books.

They intended to add more books and features using the Sharks’ money. They also sought to figure out how to turn the software into a business. They proposed that collaborations with book businesses may generate revenue for the app. Adding stickers to books was another goal of the founders. These stickers would make it easier for users to launch the app and activate the noises. The Hammersleys had a strong enthusiasm for their goods. They thought it might alter children’s perceptions of books.

The Sharks were curious about many things. They wanted to know how the app would make money. They also wanted to know if parents would actually use it. Kevin O’Leary asked about the numbers. He wanted to know how much the company had raised. The founders shared that they had raised $620,000 so far. They also mentioned that the company was valued at $5 million.

The Sharks were impressed by the funding but were still concerned. There was no revenue yet and they worried about how the company would grow. Kevin was also worried about how hard it would be to get customers. He had experience with similar products and knew it could be tough. Mark Cuban agreed. 

He felt the app would struggle to get customers. He didn’t want to invest and dropped out. Daymond John also dropped out. He wasn’t interested in the product. Lori Greiner was the only Shark who was excited about the idea. She saw the potential in the app. She liked that it was innovative and could be used with many classic books. But she also had concerns. She wanted to know if the app would be easy to market.

She wasn’t sure if her parents would use it every day. The founders explained that the app was free. They wanted to add features that would help them make money. They also talked about adding sound effects to more books. Lori saw that the app could grow, so she made an offer.

Lori Greiner offered $500,000 in exchange for 20% of the business. After considering the offer, the founders chose to reject it. They requested $500,000 for a 12.5% stake in the business. Lori considered it for a while. She was reluctant to part with that much equity. She returned with $500,000 for a 15% stake in the business. The founders gave it some further thought and accepted the agreement. Lori would receive $500,000 and 15% of Novel Effect.  

Both parties were pleased with the agreement. The Hammersleys put a lot of effort into expanding the company after the sale. They enhanced the app with the funds. They made the app available on Android and added more books. The Jim Henson Company was among the larger businesses they began collaborating. They continued to expand the company and form new alliances. The business continued to grow after Shark Tank.

What Went Wrong With Novel Effect on Shark Tank?

The product did not appeal to all of the Sharks. The success of the app was questioned by some Sharks. They thought it would be too difficult to attract clients. Kevin O’Leary recognized the market was challenging because he had experience with similar products. Mark Cuban was similarly skeptical of the app’s viability. He had no desire to invest in it. Even Daymond John had no interest. 

They didn’t think the software had the same potential as Lori. Lori was confident in the product. She believed that if the app received the proper attention, it might succeed. She appreciated the music and sound effects. Children found this to be novel and fascinating. The agreement was passed on by the other Sharks because they failed to recognize that potential.

Product Availability

Novel Effect is available as an app. You can download it on your phone or tablet. The app is free to use but offers some paid features. You can find it on the App Store and Google Play. The app has sound effects for many popular children’s books. You can use it with books you already have or buy new books that have special stickers. These stickers trigger the sound effects when you read the book. 

The company has expanded its library of books and continues to add new titles. They also work with schools. They launched a Chromebook-compatible version for classrooms. This makes the app even more useful. The app is designed to make reading fun and interactive. It brings books to life with sound effects and music. The company continues to grow and add new features.

Conclusion

One excellent illustration of how a straightforward concept can achieve significant success is the Novel Effect. The Hammersleys put a lot of effort into helping children enjoy reading. Their program brings books to life with music and sound effects. They grew even more after their Shark Tank appearance. They enhanced their app and formed new alliances.

They currently have over 750 volumes and are constantly adding to their collection. The business is doing well and it makes $4 million a year. They succeeded without the assistance of a shark. They persisted and succeeded in realizing their dream. Novel Effect will continue to expand and has a promising future.