Press "Enter" to skip to content

Hoodie Pillow Shark Tank Update

0

Hoodie Pillow is a pillowcase designed to provide warmth on those chilly nights through ‘Cocoonification’. Hoodie Pillow is a pillowcase that can fit all the standard-sized pillows. Pretty normal, right? But Hoodie Pillow comes with a twist.

The product has an oversized hood with drawstrings to adjust the hood if one wants to cover or uncover your eyes and ears to block sound and light. Hoodie Pillow also has a pocket for the iPod and a cable channel for earbuds. 

Hoodie Pillow at a Glance:-

IdeaPillow Case with a hood attached
FoundersChristopher Hindley and Rebecca Rescate
Asked For$90,000 for 15%
Accepted Deal$90,000 for 20%
SharksRobert Herjavec
Business statusIn Business
Episode No.Season 4, Episode 15
WebsiteHoodie Pillow
Buy on AmazonBuy Now!

Index:

Who are the founders of Hoddie Pillow?

Chris Handley and Rebecca Rescate are the founders of Hoodie Pillow. Ever since Chris brought his newborn triplet daughters home from the hospital, he could not sleep. That’s when he thought of creating a pillowcase with a hood. He slept soundly that day while his daughters were sleeping.

Soon after, people started giving him orders to make the same pillowcase for them as well. Rebecca Rescate had already appeared on Shark Tank for her product CitiKitty Cat Toilet Training Kit. Chris and Rebecca partnered up together to build the Hoodie Pillow business.

Did Hoodie Pillow get a deal on Shark Tank?

Chris and Rebecca went to the shark tank looking for an investment of $90,000 in exchange for 15% equity in a business. After the demonstration, all the sharks felt the Hoodie Pillow was a comical product, but later, when Rebecca shared that they had made sales of 3000 units in the first week of their business.

After hearing this, Kevin jumped in and gave an offer of $90,000 for an exchange of 33% equity. Chris gave a counter offer for $100k at 25% equity. Daymond John gave the same offer as Kevin. Barbara Corcoran didn’t hold herself for long and gave an offer of $90,000 for a 40% equity along with a 10-cent royalty per unit, but if Daymond did it with her. Daymond John asked for an immediate answer. Chris gave another counter of $90k for a 30% equity. Daymond rejected the counter.

See also  What Happened to Spatty After Shark Tank?

Barbara asked if they’d split at 35%, and Rebecca was also constant at 20% equity. Robert Herjavec didn’t want Hoodie Pillow to go out of his hand. He immediately gave an offer of $90,000 for an exchange of 20% equity and won the smile of Rebecca and Chris. The duo accepted the deal and took their check.

What happened to Hoodie Pillow after Shark Tank?

After the show, the deal made between Robert and Chris and Rebecca was in talks for a long time but was never closed. After the show, once the show aired, they had sales of 4000 units. Chris and Rebecca were projecting the sales of 8000 units for the month and half of them were already sold. Hoodie Pillow didn’t stop themselves and gave their best to make it a big success.

During the pitch, Hoodie Pillow had a valuation of $600,000 and by the end of the pitch, Robert valued the business at $450,000. Business is doing well and is focusing on valuing its business.

After the show, they made various additions to their product line before they used to sell only Hoodie Pillow, but later added pillow cases, kids’ pillows, inflatable pillows, hooded beach towels, bags, and kids with animated characters printed on them. Hoodie Pillow is available on Amazon at the price of $6.6. As of 2022, they are operating their website, offline stores, and online platform to generate revenue.

Competitors of Hoodie Pillow:-

  • City mattress
  • Sheet
  • Cabeau
  • Sleep number

What is the net worth of a Hoodie Pillow?

The valuation of the business on the pitch was $600,000 and at the end of the pitch, the valuation dropped from business to $450,000. The estimated net worth of Hoodie Pillow is $5 million. Hoodie Pillow is covering the market with its hoodie.

Is Hoodie Pillow still in business?

Hoodie Pillow is still in operation and they are running smoothly. Hoodie Pillow has made various additions of pillows to its product line, which indicates that they are trying to expand its business nationwide.

Hoodie Pillow social links:

Do Share Your Thoughts:

Do tell us all your thoughts in the comments section below, we look forward to reading all the comments in the section below.

Also, don’t forget to download our Android app which contains startup and business book learnings, verified business knowledge and concepts, and no bullshit!!

Related Articles:

FAQs:

What is Hoodie Pillow?

Hoodie Pillow is a pillowcase designed to provide warmth on those chilly nights through ‘Cocoonification’. Hoodie Pillow is a pillowcase that can fit all the standard-sized pillows. Pretty normal, right? But Hoodie Pillow comes with a twist.

Who founded Hoodie Pillow?

Chris Handley and Rebecca Rescate are the founders of Hoodie Pillow. Ever since Chris brought his newborn triplet daughters home from the hospital, he could not sleep. That’s when he thought of creating a pillowcase with a hood. He slept soundly that day while his daughters were sleeping.

Leave a Reply