Goumikids Shark Tank Update | Goumikids after Shark Tank
What is Goumikids?
Goumikids, founded by Linsey Fuller and Lili Yeo, is a company that produces durable and practical baby essentials, such as mittens, booties, and sleepers, that feature a secure two-part closing mechanism.
This design keeps the garments securely on the baby, preventing them from scratching themselves or losing heat, while also preventing the garment from falling off, allowing it to double as a blanket.
All Goumikids products are machine washable and reusable, and have been carefully crafted with the needs of their customers in mind.
Who is the founder of Goumikids?
Lindsey and Lili, two new mothers from Portland, founded Goumikids in 2012 with the goal of creating apparel and nursery products that were both usable and sustainable.
When they couldn’t find any products that met their criteria, they decided to create their own.
Along the way, they also became altruistic, after a NICU nurse asked them to test their baby gloves to help prevent accidental extubations in preterm newborns.
The gloves were successful, reducing the issue by 84%, and are now distributed by the March of Dimes to NICUs around the world.
Goumikids sells a variety of products, including onesies, caps, sleepers, gowns and more, all of which are organic, eco-friendly and sustainable.
The company has a well-stocked Amazon store and is also sold in hundreds of mom-and-pop baby boutiques around the country.
What Happened to Goumikids at Shark Tank pitch?
Linsey and Lili appeared on an episode of Shark Tank, seeking $1,000,000 for an 8% stake in their company, which is valued at $12.5 million.
They presented their product and shared their sales figures, but the Sharks were skeptical of the company’s value.
Daymond offered $1 million for 30% ownership and Kevin offered a $1 million loan at 9% interest for 24 months and a 10% equity stake.
Linsey and Lili accepted the offer, despite having a lower-interest loan available, because they wanted the support of a Shark.
What Happened to Goumikids after Shark Tank?
The agreement with Kevin fell through after it was initially secured during the pitch. However, sales still increased after the episode aired, despite the Covid-19 pandemic.
The company primarily operates online and thus was not affected by decreased foot traffic in physical stores.
Additionally, a portion of their revenues will be donated to aid in the fight against Covid-19. As of December 2021, the company’s annual income exceeded $900,000.
Competitors of Goumikids
The major competitors of the Goumikids are; Buzz Vertical, Summit semiconductor, DICIA, PacificEast and KRYPTIQ.
Net Worth of Goumikids
The company’s value was estimated at $12.5 million during the pitch, but due to its successful sales with an annual revenue of over $900,000 in 2021, it is justifiable to say that the company’s net worth has increased.
Goumikids FAQs
What is Goumikids?
Goumikids is a firm that creates attractive, useful, and long-lasting baby needs. Lindsey and Lili are the company’s founders.
Linsey Fuller and Lili Yeo worked in the fashion and clothing industries for large organizations before deciding to launch their own firm, Goumikids.
Who is the founder?
Lindsey and Lili are the founders of Goumikids, they are from Portland, and they founded the company in 2012 for a personal purpose. The company makes apparel and nursery products with usability and sustainability in mind.
How much were asking on Shark Tank?
They were asking for $1 million for 8% stake of their company.
Did they have the deal?
Yes, they got a deal from Kevin O’ Leary.
How much was the deal?
Kevin O’ Leary offered $1 million as loan for 9% interest for 10% equity shares of the company. But the deal was never materialized.
Is Goumikids still in business?
Yes, they are still around and still in business.
Is the company in trouble?
No, they seem to be doing well. In fact, the company’s value is still growing. According to their Facebook page, Goumikids has been very successful since appearing on Shark Tank.
Why did you choose this business?
They couldn’t locate any items that met all three criteria, so they decided to create their own.
What is the name of the new baby-clothes line?
The name of the baby-clothes line is Goumikids.
What is the return policy?
All items are sent returns with a 30-day money-back guarantee, including items for new mothers to try before ordering and items for baby showers.
What is the business model?
The firm makes a variety of goods, including booties and mittens, onesies, caps, sleepers, gowns, and more.
What is the revenue model?
Their shirts all feature built-in gloves, and their bottoms have reinforced knees. They are happy that their garments are “organic, eco-friendly, and sustainable.”
What is the price range of the firm?
Their products include mittens that start at $15 for a pair for babies through 12 months of age.
Is Goumikids legit?
Yes, they are a legit firm. They have done pretty well since Shark Tank.
Can I cancel my order?
No, customer cannot cancel their order. For the items in their closet, they operate a 30-day return policy.
What is the refund policy?
30 days after receiving their item and trying it on, they can send back and get a full refund. The company will cover shipping expenses.
Is Goumikids good for my budget?
Goumikids provides an attractive, useful, and long-lasting baby needs with plenty of value for money for parents and babies alike.
Is Goumikids profitable?
Yes, they are profitable. In fact, the company’s value is still growing. According to their Facebook page, Goumikids has been very successful since appearing on Shark Tank.
Is Goumikids customer service good?
Yes, Goumikids customer service is excellent. They are always ready to help their customers 24/7 and at any time of the day.
What is Goumikids website?
Goumikids website is https://www.goumikids.com
How do I pay for Goumikids?
They accept payment through credit card, PayPal, and cash.
What are Goumikids’ sizing options?
The sizing options vary from item to item.
What is the net worth of Linsey Ebuen?
She had not revealed her net worth.
What is the net worth of Lili Yeo?
She had not revealed her net worth.
