Pluto Pillows are customizable pillows, catering to the needs of every client that goes to them. Pluto Pillows have this as their patented algorithm. They ask a set of questions of their clients and make a pillow, especially for them. Pluto Pillows come in queen size and cost $95 and the king size costs $115.
Pluto Pillows have a return policy of 100 nights. Pluto Pillows are a hybrid-design and supportive inner core of high-grade CertiPUR-US. Pluto Pillows are encased with an outer plush pillow that is designed according to individual sleep profiles.
Pluto at a Glance:-
|Idea||Customizable Pillow brand|
|Founders||Kevin Li and Susana Salieu|
|Asked For||$400,000 For 5%|
|Accepted Deal||No deal|
|Business status||In Business|
|Episode No.||Season 12, Episode 24|
Who are the founders of Pluto Pillow?
Kevin Li and Susana Salieu are the founders of Pluto Pillows. Susana woke up with a stiff neck due to the inconvenience caused by her pillow. She decided to search for a suitable pillow but found none in the broad mattress industry. Susana and Kevin teamed up and inquired about sleep experts, consumers, and physical therapists so that they could make the perfect design.
Susana had connections with a large manufacturer of pillows and assembled all the components. They decided to make the pillows by hand so which makes them more special. They wanted to expand their business and needed help from a shark for the same.
Did Pluto get a deal on the Shark Tank?
Sussan and Kevin are the founders of Pluto Pillow, who appeared on the shark tank platform in a season, episode. They pitched for an investment of $400,000 for 5% equity in the business. Kevin and Susan shared their story of how they started Pluto and the hurdles they overcame over the years. They gave a customized sample of pillows to each shark for which they did a lot of research into their preferences and comfort.
When asked about the sales, they shared the numbers as $197,000 in 2018, $473,000 in 2019, and $490,000 in 2020 ( and still had a few more months in hand ). Sales were good but the whole margin structure was a bit complicated and was the bar towards non – profitability. Lori Greiner found this space in a very competitive zone and went out. Susana replied that they have patent rights and an algorithm, so, it can still be copied when Lori moves out. Mark suggested they build pillows ahead of time and asked them to do more studies on it and he went out. Daymond John loved the concept but he also felt that it could be copied by anyone and therefore, he’s out.
Kevin O’Leary said he couldn’t give them the valuation they asked for, so he’s out. Robert shared his fair opinion that he didn’t like them before when they stepped in, but later their confidence impacted him, so, Robert offered $400,000 for a 20% share in the business. Kevin and Susana gave a counteroffer of $400,000 for 9% equity in the business, to which, Robert rejected the counter. Kevin took a moment and said they thought they could grow on their own and didn’t accept the deal. No deal was made and the pitch was closed.
What happened to Pluto after the Shark Tank Show?
On the show, Pluto Pillows’ founders did not accept Robert’s offer and walked out of the show without any deal. They revealed later that they already had investors and did not want to spoil their chances of future funding. During the pitch, they came up with a valuation of $8,000,000 which, was denied by all the sharks, accepted Robert, who gave a valuation of $2,000,000.
The show is for a lot of new customers and orders for Pluto Pillows. Three venture capital investors, K2VC, 500 Start-ups, and Lombard street Ventures led three funding rounds launched by Pluto Pillows. Pluto Pillows announced around 35 new variations in their products, website, and Alibaba. The brand blew up on Amazon even after being highly priced.
Pluto Pillow costs $115 for a King Size and $96 for a Queen Size, while the making costs lie between $25- $35. Their policy of 100 nights return is updated to 110 nights and this trick still wins the deal for them. As of 2022, they are still capturing unexplored market areas. Their website says that they deliver the products in seven days and offer various deals on the products.
Competitors of Pluto are:-
- Scent Pillows
- Stitch rooms
- Custom Cushions
- Cushion Clearance
- Welcome Pillows.
What is the net worth of Pluto?
The estimated net worth of Pluto is $5 million. The valuation asked on the show shocked the sharks. They asked for a valuation of $8,000,000, which was denied by the sharks.
Is Pluto still in business?
As of 2022, Pluto Pillow is still in operation. Pluto Pillow has extended their 100-day trial policy to 110 days. They have annual revenue of $5 million. After the show, they also announced 35 new variations on their shopping list.
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What is Pluto Pillow?
Pluto Pillows are customizable pillows, catering to the needs of every client that goes to them. Pluto Pillows have this as their patented algorithm. They ask a set of questions of their clients and make a pillow, especially for them.
Who founded Pluto Pillow?
Kevin Li and Susana Salieu are the founders of Pluto Pillows. Susana woke up with a stiff neck due to the inconvenience caused by her pillow. She decided to search for a suitable pillow but found none in the broad mattress industry.