MTailor
MTailor
Legal Name: MTailor, Bit Body, Inc.
Headquarters Regions: San Francisco Bay Area, West Coast, Western US
Founded Date: 2013
Founders: Miles Penn, Rafi Witten
Number of Employees: 50+
Company Type: For-Profit
Area served: USA
Products of Company: Customized Shirts, Suits, Clothes for men
Net Worth
$30 Million
Last Updated: October 2021

MTailor is a one-stop destination where you can find all well-stitched fabric made just for you. Every person has different measurements from height to biceps, waist, and many more. It is a destination where clothes are created that suits you the best and make you look no less than a hero since you wear want you wished and have hanged a broad smile of confidence between your cheeks.

It is a clothing app that creates custom based clothes for men. It is a platform that allows you to wear perfectly fitted garments. It provides you all the luxury just on your phone. Furthermore, it gives you the convenience where the app’s inbuilt measurement feature takes all your measurements without any manual efforts or delay, only in a fraction of a second.

Inception

Miles Penn established the MTailor company. He went restless, wasting time visiting a tailor for giving measurement each time he wants a new suit. He felt that this time could be wisely utilized to fulfill something worthwhile.

Venturing malls and trying out each clothes’ fit did not seem to be a good idea for him. He then jumped to online stores. However, he was disgusted with it’s fit. He usually had to order multiple items to get the perfect fit for him.

The idea of MTailor struck him when he realized that though custom-fit clothes are way much better, it’s costly, tedious, and time-consuming than ready made garments.

He later went to arrange the right amount of capital for his idea to San Francisco. He served his vision to Shark Tank Team in the year 2016. The Sharks were not very happy with their valuation. They also considered him quite arrogant. The Sharks criticized him for his attitude towards his $25 Million company idea. They {sharks} left him {Penn} without considering his piece of view and hence left without finalizing the deal.

Evolution

His idea was almost ready, but his approach for funding towards Shard Tank became unsuccessful. Penn was not only bothered with limited funds, but also harsh criticism is given to him by Sharks. Nevertheless, this all did not stop him from farming his ideas.

Mtailor Shark Tank Updates
Mtailor Shark Tank Updates

They struggled and managed to raise funds of nearly $7.2 million, where most of it was from Khosla Ventures. They trusted his concept and were ready to invest in it with $5.2Million back in 2018. He then decided to try out the panel by creating a replica of the shirt he was wearing. First of all, the client must choose the fabric; since he was wearing heavy purple oxford, he chose the same. Secondly, the client needs to select to collar and cuffs. He decided one button round for him.

Then you are supposed to choose between tucked or untucked. The last step arrives of measurement. It is generally advised that you are thought to wear OK – fitted garments while giving measurements. The client has to momentarily lean on a wall, spin your arms, to let your phone camera take all your measures, and you can complete the process by submitting it. Your heart-wrenching shirt would be ready within a span of two to three days. The company has an app for both ‘Android’ and “Apple” users to choose accordingly.

Surprisingly, the company claims that the measurement facility does its jobs much more efficiently [approximately 20 percent] than the manual tailor. Also though the panels fail to invest in the business, it is doing its job utterly fabulous.

In the year 2020, keeping the COVID situation in consideration, they distributed MTailor masks {which was blended with protective cloth covering} free with each shipping. It can also be bought separately.

Awards and Achievements

The companies’ most significant achievements comprise the provision of both “Apple” and “Android” platforms. The app has victoriously achieved a robust rating of 4.1 in the Google Play store. There are currently more than six thousand downloads. The review section of the app is flooded with positive reviews.

They can use it according to their availability. The company also runs a website that caters to a vast collection of demands placed by the customers. This has successfully increased the overall revenue of the company.

Though the company is doing undoubtedly well, it had not been awarded any notable prizes.

Net worth and Revenue of MTailor in 2021

MTailor Net Worth
MTailor Net Worth

The launch of applications and websites has successfully led to wise growth for the business. MTailor successfully earns a revenue of $250 Thousand to $500 Thousand every month. However, the exact information is yet to come. According to smart evaluation, the net worth As of 2021 could be nearly $30 Million.

The company MTailor has been fortuitous to seize nearly $7.2 Million as a capitalization.

In the last couple of years, MTailor had enjoyed its successful expansion. The MTailor app is considered to be one of the best app running in this venture, especially for people who are not very happy running for shopping but at the same time have a keen interest in wearing the right quality clothes. The owner had suffered loads and loads of hardships while creating it. MTailor and its owner had provided the best examples for the generation to come that you can achieve anything that you wish or have zeal to; what you need is hard work and strength to fight all your hardships.

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