Novel Effect Net Worth 2023 Update (Before & After Shark Tank)

Novel Effect is an app that responds to your voice with interactive music and sound effects. This was started by Matt and Melissa Hammersley in 2015. As of November 2023, Novel Effect’s net worth is $4 million. They’re pulling in a whopping $4 million in annual revenue. 

In October 2017, they appeared on Season 09 of Shark Tank USA and made a deal with Lori Greiner for $500,000 for 15% of equity. The final valuation was $3.3 million, down from the founder’s initial estimate of $5 million.

After the show, the deal Novel Effect received from Lori did not finalize. However, the business grew with the help of other investors. moreover, the appearance in the Shark Tank gave popularity to the Novel Effect. As of November 2023, Novel Effect is up and active in business. You can sign up for their subscription through the company website. Novel Effect app is available on the Google Play Store and Apple App Store. 

Novel Effect Net Worth

Net worth$4 million
Annual Sales Revenue$4 million
Profits
Lifetime sales
InvestorLori Greiner
FoundersMatt and Melissa Hammersley 
Employees11-50

Novel Effect Net Worth Timeline

Net Worth 2023$4 million
Net Worth 2022$4 million
Net worth valuation in 2017 after appearing on Shark Tank  $3.3 million
Net worth valuation in 2017 before appearing on Shark Tank  $5 million

Novel Effect Pitch on Shark Tank

Company nameNovel Effect
ProductAn app that responds to your voice with interactive music and sound effects
EpisodeSeason 09 Episode 06
FoundersMatt and Melissa Hammersley 
Asked for$500,000 for 10% equity
Final deal$500,000 for 15% equity
SharkLori Greiner
LocationSeattle, Washington

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Novel Effect Founders

Novel Effect was founded by Matt and Melissa Hammersley in 2015. Matt and Melissa are innovative entrepreneurs who want to merge storytelling with technology. Matt and Melissa are life partners. They are also business partners with years of entrepreneurial experience. Novel Effect’s founders Matt and Melissa Hammersley have a net worth of 4 million USD as of 2023.

Key accomplishments

YearAccomplishment
2017 Novel Effect was featured on Shark Tank and secured a deal.
2023Novel Effect nominated for District Administration’s 2023 Top EdTech Product of the Year Award.

Conclusion

From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Novel Effect and its continued success.