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SlumberPod Shark Tank Update

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SlumberPod is a happy, sleeping place for babies. When babies feel even a bit of discomfort, the parents along with the babies get disturbed and that affects their sleep a lot. So, SlumberPod provides a peaceful, silent, and dark place for a baby to sleep in.

SlumberPod is a portable tent-like crib where a baby can sleep with the utmost care and quiet. Parents can easily carry a Slumber pod while traveling to a safe space where the baby can sleep. SlumberPod is available for $155 on Amazon. Slumber pod started in 2018 with the help of a Kickstarter campaign that successfully raised $45,608.

Slumber Pod at a Glance:-

IdeaSlumber Pod:- Portable mini pods for toddlers.
FoundersKaty Mallory and Lou Childs
Asked For$400,000 For 8%
Accepted Deal$400,000 For 20%
SharksBarbara Corcoran
Business statusIn Business
Episode No.Season 11, Episode 10
Buy on AmazonBuy Now!

Index:

Who are the founders of SlumberPod?

Lou Childs and Katy Mallory are the founders of SlumberPods. A duo of daughter and mother are the mastermind behind the pods. When Katy visited her mother Lou in 2014 on Christmas eve and went in conversation, Katy got an idea of this. Lou’s home was packed with a huge crowd full of his relatives and colleagues. Katy, her husband, and their child went to a room to take a rest.

The baby was not able to get proper sleep due to the huge crowd and noise, due to Katy and her family said goodbye to her mother (Lou) early. Katy decided to build something helpful for babies which could offer comfort, darkness, and a private space for the babies. Katy did a lot of research work but she couldn’t get what she had portrayed in her mind and, therefore, she decided to make one for her child. Katy talked to her mom Lou about this idea and they came up with Slumber Pods. In 2018, they raised a funding of $45,608 through a Kickstarter campaign and gave a roll to Slumber Pod.

Did SlumberPod get a deal on Shark Tank?

Katy and Lou came on the show seeking an investment of $400,000 for 20% equity in the business. Lou and Katy demonstrated and explained their business model. Katy shared their whole journey and the idea of this start-up and the reason behind the same. Lou shared that till date they had made sales of $556,000   since they began with SlumberPod. Katy and Lou came on the show to seek sharks’ expertise in scaling up their production so they could meet the demand for it.

The sharks were very impressed by the duo.  When the sharks were about to share their views, Katy made a favorable statement which meant, Slumber Pod is completely debt free and a very profitable business. Lori Greiner believed that they were doing great on their own. There is no need for sharks or investment and went out. Mark Cuban and Robert Herjavec felt the same and went off the pitch. Kevin O’Leary gave an offer of $400,000 as debt with a time period of 3 years along with a 7% equity in, the business.

See also  BZbox: What Happened After Shark Tank?

Barbara  Corcoran was the only one left and she said ‘I agree with Lori’s words but I’d like to take advantage of that. Barbara gave an offer of $400,000 for 25% equity in exchange, along with a contingency that she’d get a profit share over each unit till she gets her investment amount back. Katy and Lou gave a counteroffer of $400,000 for 20% equity in exchange. Barbara Corcoran agreed to the counter after a while and finally the deal was closed at $400,000 for a 20% stake in the business.

What happened to SlumberPod after the Shark Tank Show?

After the show, the deal made on the show between Barbara Corcoran and SlumberPod was not closed. From the show, Slumber Pod got huge fame and publicity which helped them to rack up sales of up to 20,000 units after the show. SlumerPod tried to expand the business with the help of various retailers and by adding new products on Amazon. 

During the pitch, the question about the valuation was $2,000,000 and the same valuation was offered by Barbara Corcoran at which the deal was made. After the show, time resulted to be both fortunate and unfortunate for SlumberPod. Their products started to get knocked off on Amazon. In 2021, they will be out of stock on Amazon. Slumber Pod faced a major issue with its supply chain segment, which was a setback for Katy and Lou. 

Instead of getting knocked off by Amazon and facing SCM issues, they successfully got their patent rights, which means no one can copy their business products and models. In the initial months of 2021, sales started to fall downwards.  Patented was a major weapon to cut off all the knock-offs from every platform. 

Slumber Pod is now available on Amazon for $155. Slumber Pod is trying to get its position back. It is also available in Buy Buy Bay stores and many other retail stores for easy purchase.

Competitors of Slumber Pod are:-

  • Snooze Shade
  • Dofilachy Pack and Play Canopy Cover
  • Guava’s Lotus Travel Crib
  • Brolex Mini Crib
  • Joovy Glue

What is the net worth of SlumberPod?

The valuation for the show was $2,000,000. The net worth of SlumberPod will fall to less than $5 million in 2021. As of 2022, the net worth is a comprehensive $5 million.

Is SlumberPod still in business?

SlumberPod is still in operation. In 2021, SlumberPod started getting knocked off various platforms and outlets, but when they got the patent rights in the same year, Katy and Lou successfully held them stable. Katy and Lou are back again and doing well. SlumberPod is now available on Amazon again.

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FAQs:

What is Slumber Pod?

SlumberPod is a happy, sleeping place for babies. When babies feel even a bit of discomfort, the parents along with the babies get disturbed and that affects their sleep a lot. So, SlumberPod provides a peaceful, silent, and dark place for a baby to sleep in.

Who founded Slumber Pod?

Lou Childs and Katy Mallory are the founders of SlumberPods. A duo of daughter and mother are the mastermind behind the pods. When Katy visited her mother Lou in 2014 on Christmas eve and went in conversation, Katy got an idea of this. Lou’s home was packed with a huge crowd full of his relatives and colleagues. Katy, her husband, and their child went to a room to take a rest.

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