Are you a parent that loves long car trips but are forced to avoid them because you cannot keep your kids entertained during long trips? Do your children often spoil the experience of all your car trips?
If yes, then you fall into the most common category of parents that require a solution for the unruly behavior of your kids and Space Traveler is here to do just that.
Space Traveler at a Glance:
| Idea | A foldable tent-like structure, used to separate siblings on long car trips. |
| Founders | Krissy Pruske and Rachel Lincoln |
| Asked For | $100,000 for 33.3% |
| Accepted Deal | $100,000 for 33% + $2 royalty until $100,000 is paid |
| Sharks | Barbara Corcoran |
| Business status | Out of Business |
| Episode No. | Season 11, Episode 15 |
Index:
What is Space Traveler?
Space Traveler is an optimal solution for solving the age-old problem of kids fighting during long car trips. It provides a secluded space for kids during travel, which keeps them physically and visually separated.
Space Traveler is a lightweight, collapsible, and foldable tent that enables kids to have privacy during long car trips. It also consists of pockets to store kids’ personal entertainment items required for the trips.
Founder Story:
Krissy and Rachel, the founders of Space Traveler were best friends even before venturing into entrepreneurship with their company. Both of them being moms wanted to come up with an idea of making life easier around kids.
The idea clicked when Krissy was trying to keep her kids from fighting in Minivan and that is when she came up with a crude prototype to establish collapsable personal spaces for both her kids that helps in keeping them engaged and separated from each other.
Did Space Traveler get a deal on Shark Tank?
The founders of Space Traveler entered the tank seeking an investment of $100,000 for 33.3% equity, valuing the company to around $300.3k. They pitched their product with confidence and their presentation was loved by all the sharks.
One of the sharks, Robert said that though he liked the presentation, he was not impressed by the product itself. Sharks Lori and Kevin considered the company too new to make an investment just yet and were out of the deal.
Shark Mark claimed to have invested in another company “Under The Weather” which had a similar design and idea.
Barbara Corcoran was the only shark to offer the founders a deal of $100,000 for an equity of 33% but with a royalty of $2 per sale until the founders pay her back completely. Krissy and Rachel instantly agreed to take the deal.
What happened to Space Traveler after Shark Tank?
After their appearance on Shark Tank, the founders got hold of a very niche market where guardians wanted to separate their kids while being able to enjoy their car trips. But, they were only in the prototype stage during the episode.
Unfortunately, the company seems to have hit a bump since it declares to be sold out after announcing this on Instagram in December 2020.
The company has refrained from re-stocking ever since. The founders announced a new business venture “Merch Mamas” in January 2021, where they planned on interviewing other “Mompreneurs”. The company has been silent ever since.
Product details:
- Space Traveler is like a mini tent structure that creates personal spaces for kids.
- The units are easily collapsable and easy to install and use.
- They can fit in any standard car seat and provide a secluded experience for children.
- The unit can easily be folded and fit inside a tote bag, making it easier to carry around and use.
- It consists of pockets for storing all travel accessories like electronics, snacks, drinks, etc.
- The products are priced around $30-$40 on all marketplaces both online and offline.
What is the Net Worth of Space Traveler?
When the company appeared on Shark Tank, it was valued at around $300k and received a valuation of around a similar amount from Barbara Corcoran.
After the episode went on-air there has been not much information about their sales or revenue. Also, the company has been out of stock since the end of year 2021. Therefore, the current Net Worth of the company is unknown.
Who are the main competitors of Space Traveler?
There seem to be no main competitors for Space Traveler currently. Hence, they have a chance to expand and become a monopoly in their field.
Is Space Traveler still in business?
Space Traveler seems to be out of business as of 2023. Their website claims that they are all sold out of their products but have still refrained from re-stocking since the year 2021.
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FAQs:
What is Space Traveler?
A company that manufactures foldable tent-like structures used to separate siblings on long car trips. Space Traveler is an optimal solution for solving the age-old problem of kids fighting during long car trips. It provides a secluded space for kids during travel, which keeps them physically and visually separated.
What's the net worth of Space Traveler?
When the company appeared on Shark Tank, it was valued at around $300k and received a valuation of around a similar amount from Barbara Corcoran.