Goumikids Shark Tank Update | Goumikids after Shark Tank
What is Goumikids?
Goumikids is a firm that creates attractive, useful, and long-lasting baby needs. Linsey 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.
Goumikids, which focuses on infant and newborn garments and accessories, sells mittens, booties, and sleepers using a two-part closing method.
This keeps the items on the infant safely and securely, preventing them from clawing themselves or losing heat from their extremities. The closure also prevents the garment from accidentally falling off, so it can also be used as a blanket.
The items can be machine washed, dried, and reused with ease.
The founders have designed each item with careful consideration of their target customers, ensuring that they are both attractive and useful.
Who is the founder of Goumikids?
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.
Lily and Linsey, two new mothers, were seated at the kitchen table discussing baby things. They want garments that were beautiful, useful, and long-lasting.
They couldn’t locate any items that met all three criteria, so they decided to create their own.
They founded Goumikids in 2010 and set out to conquer the world of infant fashion. They became altruistic along the way.
A NICU nurse contacted them and requested them to put their baby gloves through their paces in order to assist avoid inadvertent estuations in preterm newborns.
The gloves reduced the issue by 84 percent! The March of Dimes now distributes the mitts to NICUs all around the world. They’ve given over 12,500 pairs of mittens and boots to babies in need thus far.
They sell a variety of goods, including booties and mittens, onesies, caps, sleepers, gowns, and more.
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.”
The firm has a well-stocked Amazon Store and sells baby clothing in hundreds of mom-and-pop baby boutiques around the country.
What Happened to Goumikids at Shark Tank pitch?
Linsey and Lili decided to take their product to the Sharks in episode 17 of Season 11 of Goumikids on Shark Tank to help them move to the next level with big box distribution.
Linsey and Lili are seeking $1,000,000 for an 8% stake in their company, which is valued at $12.5 million.
They tell their narrative and provide samples. They were expecting $2.5 million in sales in 2019 and had a total lifetime sales of $5.8 million.
The Sharks are all unhappy with the value and are concerned about the company’s price. Linsey and Lilli express their desire for premium price for a premium product, but Mark, Lori, and Barbara exit.
Daymond offers $1 million in exchange for 30% ownership of the company. Kevin offers a $1 million loan at 9% interest for 24 months, as well as a 10% equity stake in the company.
Even though they have a lower-interest loan that they haven’t drawn on, they want a Shark, so they agree and leave the pitch with a deal.
What Happened to Goumikids after Shark Tank?
The deal with Kevin never materialized after clinching it during the pitch.
Despite the fact that this episode aired during the Covid-19 outbreak, sales increased following the broadcast. Because they make 90% of their sales online, a decline in physical shop traffic has no effect on them.
In addition, a percentage of revenues will be donated to Covid-19 relief efforts. As of December 2021, the company’s annual revenue is over $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 valuation was $12.5 million during the pitch, since then the company has been doing well in sales with annual revenue of over $900,000 in 2021. This justify that the company net worth had raise.
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.
