Melissa and Kevin Kiernan came to Shark Tank with a new solution to a common problem. They introduced The Last Lid. It was a universal lid for garbage cans. The problem they aimed to solve was the missing lids of garbage cans. Missing lids often lead to messes. Wildlife like raccoons can get into the trash. This can make big messes that are hard to clean up.
They hoped the sharks would see how practical and helpful their product could be. They offered a deal to the sharks. They wanted $40,000 for 20% equity in their company. Will the entrepreneur get a deal on Shark Tank? Check out The Last Lid update to find out!
The Last Lid Net Worth Shark Tank Update 2025
Kevin and Melissa Ciccarelli went on Shark Tank asking for $40,000 for 20% of their company. This meant they thought their business was worth $200,000. They made a deal with Daymond John for $40,000 for 60%, lowering the valuation to $66,667. The episode was aired on February 10, 2012. The product was later licensed and discontinued. The current net worth of The Last Lid is $0 in 2025.
After the show, The Last Lid went through some changes. The deal with Daymond John went through. He offered $40,000 for 60% of the company. However, the company did not have big success. In 2015 Melissa and Kevin sold the company. They sold it for an undisclosed amount. After the sale, the product was no longer available.
The Last Lid is no longer on the market. The couple moved on to different projects. Kevin started working on a new company. It was called Stadium Glove. Melissa went into real estate and took other jobs. This ended the journey for The Last Lid.
Yes the company did get a deal. Melissa and Kevin asked for $40,000 for 20% of their company. They wanted help to grow the product. Daymond John liked the idea and saw potential. He offered $40,000 for 60% of the company. Melissa and Kevin were initially asking for a smaller equity. But Daymond said they needed to make a good deal.
They agreed to his offer of 60%. This was a big percentage of their company. They accepted the offer and shook hands with Daymond.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Robert Herjavec | out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | $40,000 for 60% equity | $40,000 for 60% equity | Yes |
| Mark Cuban | Out | N/A | N/A |
The Last Lid Shark Tank pitch
The creators of The Last Lid were Melissa and Kevin Kiernan. They faced a common problem. Their garbage can lids kept disappearing. They were tired of having lids missing. This led to wildlife getting into their trash. They often saw raccoons trying to get into their cans. This made a huge mess. They needed a solution. They thought about how to solve this. They wanted to create a universal lid that would fit many types of cans.
After thinking about it they came up with The Last Lid. The product was designed to stay in the garbage can. It was made to be tough and secure. They hoped it would solve the problem of missing lids for everyone. However, creating the product was not easy. They faced many challenges in the beginning. First, they had to figure out how to make the lid fit on different kinds of garbage cans.
There were many different designs and sizes for garbage cans. This made it hard to create a universal lid. They also had to deal with the cost of production. They wanted to keep it affordable for people to buy. At first, it was hard to find the right balance. But after working hard and testing different ideas, they finally made the lid. It worked. They knew they had something valuable. They filed for a patent to protect their idea. They were ready to bring it to market.
When Melissa and Kevin walked into the tank they were confident about their product. They presented The Last Lid to the Sharks and explained how it solved a common problem. The entrepreneurs shared their frustration with missing garbage can lids and how wildlife often causes a mess by getting into the trash. They introduced the product and demonstrated how it worked.
They showed the Sharks how the lid stayed securely on the can and prevented animals from accessing the trash. They hoped the Sharks would see the practicality of the product and its potential for solving this issue. The Kiernans asked for $40,000 for 20% equity in their company. They explained that they had a patent pending for their product but had not yet made any sales.
They were hoping to use the investment to help grow their business. The Sharks were curious about the product and asked several questions. Daymond John asked about sales, but the couple admitted they had not sold any units yet. They were still in the early stages of their business. Mark Cuban was interested in the idea but questioned whether there were other similar products on the market.
Kevin O’Leary was concerned about the pricing and whether the product could be profitable. Despite these concerns, the couple remained hopeful that the Sharks would see the value in their product.
The Sharks asked several questions about The Last Lid to learn more about the product. Robert Herjavec asked how quickly the lid could be removed from the garbage can. Kevin demonstrated how easily the lid could be removed, which showed the product’s practicality. Lori Greiner asked about how they planned to keep animals from stealing the lids. Kevin explained that they had cameras set up to monitor how raccoons interacted with the lid.
They learned that raccoons gave up trying to steal the lid because it was too difficult to remove. This helped improve the design of the lid and made it more secure. Mark Cuban asked if there were many other products like The Last Lid available. Kevin responded by saying that there was no universal lid like theirs. He explained that most lids were made for specific garbage cans and did not fit all types.
He emphasized that The Last Lid was designed to be universal and fit any garbage can. The couple believed this feature made the product unique and valuable. The Sharks continued to ask about production costs and pricing. Kevin explained that the cost per unit was about $3.50, and they planned to sell two lids for $19.95. Kevin O’Leary was not convinced that this pricing would lead to a profitable business.
He thought the margins were too low and went out of the deal. Lori Greiner was also not interested in the product. She did not see the appeal and did not think it was a product that would succeed in the market. Mark Cuban also had concerns about the product’s profitability. He believed that it wasn’t ready to become a large business yet and went out as well.
Robert Herjavec was the first to go out, as he did not think the product was a good idea. This left Daymond John as the only Shark still interested.
Daymond John seemed interested in the product despite the lower profit margins. He believed that the product could be useful for many people who had trouble with missing garbage can lids. He saw potential in the idea but felt that the Kiernans needed to give up more equity for the investment. Daymond offered $40,000 for 60% equity, which was a much higher percentage than the Kiernans had originally asked for.
Kevin appealed to Daymond by saying they needed to make the deal work. He explained that the product could solve a common problem and that it had the potential to do well in the market. After some discussion,n Melissa and Kevin agreed to Daymond’s offer. They accepted $40,000 for 60% equity of their company. They were excited to have Daymond on board as their investor.
They hoped that his expertise would help them grow the business and get the product into more homes. The couple was ready to take the next step in their journey with The Last Lid.
What Went Wrong With The Last Lid On Shark Tank?
While Daymond John believed in the product and made a deal, the business did not succeed as hoped. There were several factors that contributed to the company’s downfall. One of the main issues was the lack of sales and the difficulty of making the product profitable. The margins were too low to make a significant profit and the Kiernans struggled to find a way to make the business financially viable.
They also faced competition from other products that solved similar problems, making it difficult for them to stand out in the market. Another issue was that the product was not widely available and there was a lack of retail presence. The Kiernans had a hard time getting the product into stores and building a customer base. Despite the deal with Daymond John, they were not able to grow the business as planned.
Eventually, they decided to sell the company in 2015 for an undisclosed amount. The product is no longer available and the company is no longer in business.
Product Availability
The Last Lid was a universal garbage can lid designed to keep trash secure and prevent animals from getting into it. The product featured a simple yet effective design that helped prevent wildlife from stealing trash. It was easy to use and fit most standard garbage cans. The Kiernans initially planned to sell the product in sets of two for $19.95. However, the product’s pricing and low-profit margins made it difficult to turn a profit.
As a result, the product is no longer available for purchase. The company did not have a strong online presence, and the product was not widely distributed in retail stores. After appearing on Shark Tank the product was available for a brief period but it eventually disappeared from the market. The Last Lid is no longer available for purchase and the company’s website has been shut down.
Conclusion
The Last Lid’s journey on Shark Tank ended with a deal from Daymond John. However, despite the initial excitement, the business struggled to become profitable. The product faced challenges with pricing, competition and sales. In the end, the Kiernans sold the company in 2015, and The Last Lid is no longer available. Both entrepreneurs moved on to new ventures. While the product helped solve a common problem but it ultimately did not succeed in the market.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
