Topics
Seattle apparel company Neat survives Shark Tank with an offer from Lori Greiner: $400,000 for a 15% stake, plus 75 cents per order until she earns back her investment. CEO Jim Huffman said the deal is still being finalized.
Neat makes tops designed to hide sweat with a patented lining called the Sweat Maze. The company entered Shark Tank seeking $400,000 for 5% of the business, a valuation of $8 million.
How Neat Survives Shark Tank Negotiations
The pitch brought competing offers and sharp criticism. Kevin O’Leary objected to Neat’s valuation and left the negotiation. Kendra Scott offered $400,000 for 20%, while Daniel Lubetzky offered the same amount for 25% before withdrawing.
Greiner’s offer included the 15% stake and per-order payment. Huffman said working with an investor who had built an eight- or nine-figure brand was exciting because of her experience and knowledge. He described negotiating with multiple Sharks while calculating revenue sharing as the most intense part of the appearance.
Neat’s patented Sweat Maze uses water-repelling and water-attracting zones. The pattern draws moisture inward and spreads it across the shirt’s inside so it can dry before showing through. The technology came from research funded by the National Science Foundation and was originally developed for military personnel, firefighters and first responders.
Sales Growth and the Next Neat Priorities
Neat’s net sales grew more than 300% in 2025, to about $700,000, Huffman said. He said the company was on track for $1.5 million to $2 million in sales this year and a 15% profit margin. Neat is profitable and has not raised venture funding, according to Huffman.
The company expanded from about $20 a day in advertising to roughly $2,000 a day across Instagram and Facebook. Its best-known ad shows a water balloon popped inside a shirt while the outside stays dry. Huffman said customers need to understand the product demonstration within five seconds.
Neat’s newest shirt, the Sweat Defender Crew, sells for $59.99, with bundle discounts. Huffman told the Sharks each shirt costs about $11.70 to make. The company has four employees, two in Seattle and two in Portland. Its shirts are made in Vietnam and sold directly to consumers; they are not yet sold on Amazon or in stores.
Traffic to Neat’s site jumped about 20-fold from East Coast and Central time zones after the segment aired, Huffman said. The company recorded more sales during the nine-minute segment than on a strong holiday, followed by another wave when the show aired on the West Coast. Sage green, the color Huffman and Stelter wore on the show, became the most popular color and the one Neat had least in stock.
Huffman said the company’s immediate priorities were keeping its site from crashing and ensuring customer service could keep up. The deal with Greiner remains in finalization, while the company manages the demand following its television appearance.
Neat’s growth story sits among broader coverage of business building, from women’s role in technology strategy to programs supporting entrepreneurs. Her Forward has also covered the business skills women entrepreneurs need and a Lagos effort for 610 women-led businesses.
Read GeekWire’s report on Neat for details of the pitch and offer.
Written by
