DreamPad Shark Tank Net Worth 2023
Dreampad is a patented product founded by Randall Redfield that plays music through vibrations to help people sleep. It was initially designed for children, but an adult version was later released.
In November 2017, Dreampad appeared on Shark Tank and Redfield asked for an $800,000 investment in exchange for 10% of the business which makes its valuation to be at $8 million, but he left without a deal as the Sharks were not impressed.
As of 2022, Dreampad’s net worth is estimated to be 6 million USD, and its founder Randall Redfield has a net worth of 6 million USD as of 2022. It is unclear what Dreampad’s net worth will be in 2023.
What is DreamPad? Who is the Founder of DreamPad?
The DreamPad is a pillow that has been specifically created to help people relax and sleep better. It achieves this by transmitting sound and music directly into the user’s inner ear.
ILS, a company co-founded by Randall Redfield in Long Island, New York, has been working towards improving people’s health and reducing stress through the use of music and exercise since 2007.
Following extensive research and development, the DreamPad was launched in November 2016. However, the process of launching it was not without its challenges for Randall.
The DreamPad was initially designed to provide a relaxing aid for children who experienced high levels of anxiety or trauma, but it can be used by anyone who needs to manage stress or anxiety. The device consists of a pillow and an accompanying app that enables users to select the music and timing that suit them best, resulting in a more restful sleep. The DreamPad retails for $149.
DreamPad Shark Tank Pitch
Randall appeared on Shark Tank with the aim of securing an investment of $800,000 for a 10% ownership stake in his company. During his pitch, he highlighted the benefits of his product to potential customers.
At the time of the presentation, the company had already generated $600,000 in sales and was projected to make $1.2 million in sales.
Despite earning $150,000 from these sales as part of his compensation, the Sharks, including Mark Cuban, Robert Herjavec, Kevin O’Leary, Bethenny, and Lori Greiner, declined to invest due to the company’s high valuation. Consequently, no agreement was reached, and Randall left without an offer.
Following his unsuccessful attempt to secure investment, Randall parted ways with the company. However, in April 2019, the company launched a successful Kickstarter campaign, raising more than $75,000 for the DreamPad 2.0.
Despite this initial setback, the company continued to operate, with its products now available at various retailers, including Walmart and Amazon. It is projected that the company’s annual revenue will reach $6 million in 2021.
Net worth of DreamPad
The company net worth is valued to $8 million in 2021.
DreamPad Shark Tank Updates
The Dreampad is a pillow that plays music to help the user’s mind relax to help sleep come faster. The technology came into the limelight when Dreampad entered episode 905 of Shark Tank.
Randall Redfield, CFO and co-founder of Integrated Learning Systems, pitched his company’s hot product – the Dreampad – in the episode.
He explained the product and asked the Sharks to come up and try it. Mark and Lori came up to try it and they were soon joined by Bethenny, Kevin, and Robert.
When they returned to their chairs, Richard gave them samples. However, all Sharks – Mark, Bethenny Frankel, Kevin, Lori, and Robert – called the offer outrageous and thus Randall left the Tank without a deal.
Despite not getting a deal on Shark Tank, the Dreampad is still in business. As of November 2022, the annual revenue is estimated at $6 million.
The Dreampad products can be found at Walmart, Bed Bath & Beyond, Amazon, and other stores. In April 2019, the company did a Kickstarter for “Dream Pad 2.0” and raised $75,258.
The Dreampad Weighted Throw provides luxurious comfort and the feeling of safety that comes with just the right amount of weight and pressure.
It is small enough for adults to use on a quiet afternoon on the sofa and large enough for children for relaxing or bedtime. It is available in 8 lb or 10 lb weights.
Summary Table: Dreampad Shark Tank Net Worth 2023
| Product/Company | DreamPad |
| Founder | Randall Redfield |
| Description | A pillow that plays music through vibrations to help people sleep |
| Target Market | Originally designed for children with anxiety or trauma, but can be used by anyone who needs to manage stress or anxiety |
| Retail Price | $149 |
| Shark Tank Pitch | Asked for $800,000 for 10% equity, left without a deal |
| Net Worth (2022) | $6 million |
| Revenue (2021) | $6 million |
| Distribution | Available at Walmart, Bed Bath & Beyond, Amazon, and other stores |
| Updates | Launched a successful Kickstarter campaign in 2019 raising over $75,000 for DreamPad 2.0, also offers Dreampad Weighted Throw |
| FAQs | Dreampad uses patented sleep technology to improve sleep and reduce stress. The music travels directly from the pillow to the user’s body through gentle vibrations. It was originally designed for children with sleep problems caused by autism, ADHD, traumatic brain injury, and other conditions. The Dreampad is easy to use, portable, and has a Bluetooth feature. |
DreamPad FAQs
What Is Dreampad And How Does It Work?
DreamPad is a therapeutic pillow that uses patented sleep technology to improve sleep and reduce stress.
The pillow turns music and sound waves into gentle vibrations that only the user can hear, helping them relax and fall asleep faster.
The Dreampad is different from traditional speakers in that the music travels from the pillow directly to the user’s body, it doesn’t go out into the airwaves. The Dreampad music is developed in-house based on the latest sleep research.
The Dreampad was originally designed as a clinical product to help children with sleep problems caused by autism, ADHD, traumatic brain injury, and other conditions.
To operate the Dreampad, users need to choose their Dreampad pillow type, download the music app, set their music, volume, and timer, connect to the pillow, and get to sleep.
The Dreampad is easy to use and convenient as its thin profile fits into a suitcase for travel. Bluetooth for the Dreampad allows users to connect to the Dreampad without plugging their phone directly into the pillow cable.
The Bluetooth receiver is not embedded inside the pillow or Aurras, because many people would like to keep radio frequencies away from their bed.
The Dreampad is supported by research and recommended by some of the top clinics and sleep doctors in the world. It is offered with a 30-day free trial, allowing users to return it if not satisfied.
The Dreampad has consistently improved the sleep of every patient who has used it. There has also been symptom reduction in patients suffering from PTSD, anxiety, depression, and various childhood disorders.
The Dreampad is a drug-free solution to better sleep, using music with scientifically proven efficacy in peer-reviewed studies.
Who is the Founder of DreamPad?
Randall Redfield of Long Island, New York, co-founded Integrated Listening Systems (ILS) in 2007 with the goal of promoting health and lowering stress via music and exercise.
What Was The Outcome Of Dreampad Shark Tank Pitch?
During the pitch of DreamPad on Shark Tank in episode 905 of season 9, the Sharks were impressed with the pillow’s comfort and revolutionary music technology inside.
However, they were not able to secure a deal with Randall Redfield, the CEO of DreamPad, for investing in the product. Redfield came to the Tank seeking an $800,000 investment for ten percent equity which was later updated with extra 5 percent equity, but all Sharks called the offer outrageous.
Despite not securing a deal, DreamPad has continued to grow and is still in business as of June 2021. The product can be found at various stores, including Wal Mart, Bed Bath & Beyond, and Amazon. As of November 2022, the annual revenue of DreamPad is estimated at $6 million.
What Happened To Dreampad After Its Appearance At The Shark Tank?
After its appearance on Shark Tank, DreamPad continued to grow and is still in business as of June 2021. The company’s products can be found in various stores such as Walmart, Bed Bath & Beyond, and Amazon. As of November 2022, the annual revenue is estimated at $6 million.
Although the sharks were not able to secure a deal with the founder, Randall Redfield, for investing in the Dreampad, they were very complimentary of the pillow’s comfort and revolutionary music technology inside.
The sharks tried the Dreampad pillow and found it to be a multi-use product and a lot of fun, even if it wasn’t worth $8 million dollars.
After the Shark Tank appearance, the company did a Kickstarter for “Dream Pad 2.0” and raised $75,258 in April 2019. The visibility from the show helped the company gain more exposure and grow its customer base.
What is their offer on Shark Tank?
The company was asking of $800,000 for 10% stakes in the company.
Did they get the deal?
The company did not get the deal, and the Sharks were in favor of investing in a pillow with science and science-backed benefits.
Is it still in business?
The company is still in business and is manufacturing and selling the DreamPad. Analysts predict that the revenue to be $6 million in 2021.
What are the next stages for DreamPad?
They are both clinical and consumer sleep solutions.
They intend to complete the present capital campaign, promote awareness, and continue our grants to first responders and combat vets who require assistance sleeping.
They offer the device through their website, dreampadsleep.com, as well as through resellers.
What is the connection between DreamPad and music?
Soothing music is played through the DreamPad which delivers sound direct to the user’s inner ear. The music can be adjusted to specific volumes or even time periods by the user.
How much does DreamPad cost?
The cost of DreamPad is $149 which they can get on its website, dreampadsleep.com. Every product comes with a free app that they can use to set up their musical experience and turn it on automatically at night.
What is their business model?
Their company has grown very rapidly and now brings in billions of dollars. They sell directly to customers and offer a variety of retail partnerships through businesses such as Bed Bath & Beyond, Walmart and Amazon.
How much revenue does DreamPad make?
They generate $6 million in revenue each year. In 2018, the company has an investment valuation of $8 million.
What are the strengths of their product?
The DreamPad has a number of strengths. Perhaps the greatest strength is the science supporting it. There is substantial evidence that music, in particular, can be very effective at helping people fall asleep and sleep longer.
Is their product quality?
Yes, the DreamPad products are of very high quality, considering all of the features that they have to offer.
Who is responsible for the success of DreamPad?
The founder of DreamPad, Randall Redfield, is responsible for the success of the product. He invented the device himself and created an effective business model around it.
What has been the impact on DreamPad?
The company has grown rapidly since its launch in 2016.
Which episode and season were aired on Shark Tank?
It was aired on Season 9 on Episode 8.
Is it legit?
Yes, it is a completely legitimate product. The DreamPad has been highly acclaimed by health experts and scientists, who are excited about the benefits that the product has to offer.
What is the difference between DreamPad and its competitors?
There are several differences between DreamPad and its competitors, most notably that DreamPad’s products are designed specifically to help people fall asleep faster and have more restful sleep.
What is the status of DreamPad?
The DreamPad worked remarkably well; one was astonished to discover that they could hear the music well with their head on the pillow but heard nothing when they moved their head off.
There were a few exceptions, such as certain tunes that could be heard at extremely low volumes.
