Better Bedder Shark Tank Net Worth 2023
Better Bedder’s net worth is estimated to be $2.9 million in July 2022. The company was valued at $1.5 million during the pitch, and after Lori Greiner’s investment, it was valued at $833,000.
Better Bedder’s current net worth as of 2022 is estimated to be $1.5 million. The founders of Better Bedder, Judy Schott and Nita Gassen, have a net worth of $2 million as of 2022.
What is Better Bedder? Who is the founder of Better Bedder?
Better Bedder is a unique invention that securely attaches bed sheets to the mattress, making it easier to make the bed and preventing the sheets from coming loose during the night. It can even be used to hold a phone or book.
The idea for Better Bedder came about when Judy Schott’s college-aged son preferred to sleep on the couch rather than his bed because the sheets always fell off. Judy reached out to her friend Nita Gassen to find a solution, and together they created Better Bedder.
Judy and Nita had worked together for fifteen years at an insurance business before launching Better Bedder. While Judy is now the Chief Operating Officer of Gilspar, Nita left the firm to focus on Better Bedder.
The initial goal of the invention was to make it easier to build bunk beds, but they found that it made normal beds simpler to make.
The Better Bedder is essentially a large headband that wraps over the mattress, keeping both fitted and flat sheets in place. The initial prototypes were created on a sewing machine that the duo taught themselves to use.
After receiving feedback at local farmers markets, they found a local seamstress business to manufacture the Better Bedders for them.
Better Bedders are available in any color, as long as it’s white, and cost between $59 and $109 depending on the size of the mattress.
Once the Better Bedder is in place, it can remain on the mattress permanently and can also be used to store a remote or book.
Better Bedder Shark Tank Pitch
Judy Schott and Nita Gassen presented their patent-pending technology, Better Bedder, on Shark Tank in season 12, episode 15, seeking a Shark’s help to expand their business rapidly.
Their aim was to find a Shark to partner with, and they offered $150,000 for a 10% stake in their $1.5 million-valued company.
Although Judy and Nita had achieved revenue of over $1 million in 2020, they lacked marketing expertise and wanted a Shark’s assistance to drive sales. The Sharks were intrigued by their success and interest was piqued.
Mark and Kevin quickly declined, but Barbara expressed interest, offering $150,000 for 20% equity. She promised to use her public relations skills to boost profits and increase sales.
Lori then joined the bidding war, offering $150,000 for 25% equity and pledging to get Better Bedder on QVC.
Both Lori and Daymond offered the same deal, and Judy and Nita countered with an 18% stake in their company. Ultimately, they chose Lori’s offer, although Barbara offered to take a 15% stake.
After the episode aired, the deal with Lori was finalized, and Better Bedder’s website was completely redesigned.
As of May 2021, the company had sold over 40,000 units, but they were unable to keep up with the inventory required for a QVC appearance.
Nita hopes to expand the company worldwide, as she believes that everyone sleeps on a mattress.
Competitors of Better Bedder
The main competitors of the company are; Boll and branch, Primary goods, Sheets and giggles and Cloud ten.
Net Worth of Better Bedder
The company was valued at $1.5 million during the pitch, after the investment done by Lori Greiner the company valued at $833,000. In 2021 the company has a net worth of $1.5 million.
Better Bedder Shark Tank Updates
Better Bedder is a product that makes making your bed easier. It is a giant headband that wraps around your mattress and holds your fitted sheet and flat sheet in place, so you won’t kick the sheets out in the middle of the night.
The product was created by Judy Schott and Nita Gassen to make making bunk beds easier, but it ended up making making regular beds easier.
Better Bedder appeared on Shark Tank Season 12 Episode 15 and landed a deal with Lori Greiner. The deal did close, and Lori invested $150,000 for 10% equity.
Better Bedder is available in different sizes, and the price ranges from $29.99 to $49.99.
The product can also be customized, and its official website provides a 30-day money-back guarantee along with an Exchange Program. The company offers occasional discounts. The Better Bedder has mostly positive reviews.
Better Bedder Shark Tank Summary:
|Judy Schott and Nita Gassen
|Invented when Judy’s son preferred the couch
|because sheets always fell off the bed
|Secures bed sheets to the mattress
|Valued at $1.5 million during pitch
|$150,000 for 10% stake offered
|Valued at $833,000 after Lori’s investment
|Sold 25% equity to Lori Greiner for $150,000
|Boll and branch, Primary goods, Sheets and giggles, Cloud ten
|$1.5 million (as of 2021)
|Shark Tank update
|The deal with Lori Greiner was finalized
|The website was redesigned
|Available in different sizes and customizable
|Ranges in price from $29.99 to $49.99
|Provides a 30-day money-back guarantee and Exchange Program
|Mostly positive reviews
Additionally, Judy and Nita’s current net worth is estimated to be $2 million in 2022. The company’s net worth was estimated to be $2.9 million in July 2022.
Better Bedder FAQs
What Is Better Bedder And How Does It Work?
Better Bedder is a bed-making solution that holds fitted sheets and flat sheets in place. It is a giant headband that wraps around the sides of the mattress and becomes a part of the mattress for the life of the mattress. Better Bedder is made with a fabric shell of cotton, polyester, and spandex.
It helps keep sheets on adjustable beds, tempurpedic mattresses, and more. Better Bedder can be used with fitted sheets and flat sheets. It can also hold a blanket, mattress pad, and topper in place. To use Better Bedder, one needs to put it on the bed once, and then it’s done.
However, some customers have reported that it starts smooth but loosens until after 3 or 4 nights until it is a mass of wrinkles when used with a flat sheet.
Who created Better Bedder?
Judy Schott and Nita Gassen created Better Bedder. Before launching Better Bedder, the two friends worked together for fifteen years at an insurance business.
What Was The Outcome Of The Better Bedder Shark Tank Pitch?
The Better Bedder appeared on Shark Tank Season 12 Episode 15 and landed a deal with Lori Greiner. The entrepreneurs, Judy Schott and Nita Gassen, asked for $150,000 for 10% equity and received the deal.
At the time of the pitch, the Better Bedder had just under half a million dollars in lifetime sales. The deal with Lori did close, and the Better Bedder has been reducing the effort required to make beds across America.
Did Better Bedder Get A Deal From Shark Tank?
Yes, Better Bedder did get a deal from Shark Tank. The owners, Judy Schott and Nita Gassen, asked for $150,000 for 10% equity of their company and received the deal from Lori Greiner. The Better Bedder appeared on Shark Tank Season 12 Episode 15 and landed a deal with Lori Greiner.
What Happened To Better Bedder After Its Appearance At The Shark Tank?
After appearing on Shark Tank and landing a deal with Lori Greiner, Better Bedder has been reducing the effort required to make beds across America.
The company has sold over 40 thousand units and is now reaching $2 million in lifetime sales. Better Bedder is available in different sizes with the price ranging from $29.99 to $49.99, and the company offers occasional discounts.
The Better Bedder can also be customized, and its official website provides a 30-day money-back guarantee along with an Exchange Program. The company has received mostly positive reviews, and its innovative yet straightforward idea has made making regular beds easier.
How much were they asking on Shark Tank?
They were asking for $150,000 for 10% stake of their company at valuation of $1.5 million.
Is Better Bedder still in business?
They are still in business as of December 2021.
Is Better Bedder a success?
Judy Schott and Nita Gassen, the ‘Better Bedder,’ have been keeping a big secret since June, when they took two weeks off from their employment at a Covington insurance company.
According to Gassen, they sold more Better Bedder in the next month than they did in the prior year. Sales have more than doubled, with over 40,000 units sold to far.
How do you put on a Better Bedder?
The Better Bedder works by wrapping around the mattress. It is made from high strength latex and polyester and has a bead count of over 500,000. It is machine washable.
Where is Better Bedder made?
Better Bedder is made locally at a West bank sewing business and functions like a large headband, holding both the fitted and top sheets in place, according to the manufacturer. Better Bedder promises to keep bedding looking clean with ease once installed.
What is the price of a Better Bedder?
Better Bedder is most popular variant is completely lined and has mild cushioning. It presently costs $59 for a twin bed and up to $109 for a split king size. An unlined version with little padding is the greatest value.
What does a better Bedder accomplish?
Better Bedder is a colossal headband that keeps the sheets in place. Fitted sheets stay in place, but loose sheets conform to their bed and stay in place all night.
How can I make Bedder better?
Customers can either return the item to a Bedder Mattress shop or mail it back to Bedder Mattress at their own expense. When mailing a return to Bedder Mattress, please include the RMA # for optimal processing.
What is the episode was featured on Shark Tank?
Episode 15 Season 12 for Shark tank.
What is the return policy of Better Bedder?
Returns must be sent with an RMA number and are accepted within 30 days of purchase. Please allow return shipping costs to be covered by customer.
What is the Better Bedder warranty?
Bedder Mattress offers a 10 year limited warranty on its mattresses prohibiting any defects in materials or workmanship. They will replace or repair the defective part as appropriate so as to maintain the original integrity of the bedding.
What are the payment methods accept by Better Bedder?
They accept cash, all major credit cards and PayPal.
Is Better Bedder better than other products on the market for bedding?
The Better Bedder Mattress Bed Bug is comparable to the DuraTech mattress bed bug, also manufactured by Gassen. There are both in terms of the price and performance.
What is the net worth of Judy Schott?
Judy Schott net worth is unknown.
What is the net worth of Nita Gassen?
Nita Gassen net worth is unknown.