Hatch Baby Shark Tank Net Worth 2023
Hatch Baby, founded by Dave Weiss and Ann Crady-Weiss, is a smart changing pad with weight tracking. The company was valued at $10 million when it appeared on Shark Tank in January 2016, and the couple asked for $250,000 for 2.5% of the company.
Chris Sacca offered $250,000 for 25% equity in Hatch Baby, which has since been rebranded as Hatch and has 60 employees working under it.
As of 2023, Hatch is estimated to be worth over $5 million annually and has introduced Rest+ for kids and Restores for adults. Despite competition from other companies, Hatch is doing well and will likely continue to do so in the future.
What is Hatch Baby? Who is the Founder of Hatch Baby?
Hatch Baby is a sophisticated changing pad that keeps track of various data points related to a baby’s development, including weight, sleep duration, food intake, bowel movements, and more.
The device is designed to alleviate parents’ worries about their child’s growth and development, while also allowing them to monitor milestones without frequent doctor visits.
The Rest+ model, which is suitable for infants and young children, features an audio monitor and smartphone control capabilities.
In 2013, Hatch Baby was founded by Ann Crady Weiss and Dave Weiss, a married couple with backgrounds in baby products and technology.
Ann, a Georgetown University Law Center graduate, was previously the Senior Vice President of Customer Experience at BabyCenter and is currently the CEO of Hatch Baby.
Dave, who holds a bachelor’s degree in mathematics and computer science from the State University of New York at Binghamton, worked as an executive at BabyCenter and is now the COO of Hatch Baby.
Ann and Dave’s shared passion for entrepreneurship and problem-solving led them to create Rest, a product that addresses sleep issues, and later, Hatch Baby, a cutting-edge changing pad for toddlers that can be connected to a smartphone to track a baby’s weight and feeding schedule.
To bring their product to market, they sought out an investor. The Hatch Baby changing pad costs $300, but pre-orders on the company’s website currently have a $100 discount.
The pad is powered by four “C” batteries and is made of machine-washable polyester microfiber and ABS plastic, with BPA- and Phthalate-free materials.
Hatch Baby Shark Tank Pitch
Ann and Dave Weiss, who established Hatch Baby, went on Shark Tank to present their innovative product, a changing pad with a built-in scale and smartphone application that allows parents to monitor their newborn’s weight. They sought $250,000 in exchange for 2.5% ownership in the firm, valuing it at $10 million.
Despite some Sharks expressing skepticism about the product’s potential, Chris Sacca was intrigued by the idea of a “smart nursery” and decided to invest $250,000 in a previous funding round.
With Sacca’s assistance, Hatch (previously called [Name]) has launched new goods, including the Rest series of sleep aids for infants and the Restore collection for adults.
The Restore is a multi-purpose gadget that includes features such as a sound machine, alarm clock, smart light, meditation app, and more. The Rest line offers three distinct models, each with unique features such as white noise, night lights, and clocks.
In February 2019, Amazon made an undisclosed investment in the company when it was valued at $36.5 million. The company, which generates $5 million in annual sales as of November 2021, continues to operate successfully.
Hatch Baby Net Worth
The owners were looking to sell 2.5% of their company for $250,000, which valued the company at $10 million.
They ultimately agreed to an offer from Sacca for a $250,000 convertible note, valuing the company at $7.5 million.
Hatch Baby Competitors
Hatch’s top competitor is Babyscripts.
Hatch Baby FAQS
What is Hatch Baby?
A high-tech changing pad that helps parents track the weight and feeding schedules of their child.
Who are the founders of Hatch Baby?
Ann Crady Weiss and Dave Weiss, a husband and wife partnership, co-founded Hatch Baby in 2013.
How much were they seeking in the Shark Tank?
They were seeking $250,000 for 2.5 percent ownership in their company.
Did they get the deal from the Sharks?
They obtained the deal from Chris Sacca for $250,000 convertible note at $7.5 million.
Is Hatch Baby still in business?
Hatch Baby, renamed as Hatch, is still in business, employing around 60 people, with further investment and money coming from Amazon—to bring additional content to its Alexa-based voice interactive service.
This is in addition to their enhanced product offering in Rest+ for new-borns and Restore for adults.
What is Hatch Baby’s website?
The company’s website is HatchBaby.com
Who are its competitors?
Babyscripts is its competitors.
How much does Hatch Baby cost?
Hatch Baby costs $300, however it is presently $100 off for those who pre-order from the company’s website
Where can they find Hatch Baby?
On their official website or at Amazon.
What episode was Hatch Baby featured?
Hatch Baby was featured on season 7 Episode 14 of Shark Tank.
How much to make Hatch Baby?
The company’s Hatch Baby changing pad, costs $89 to manufacture.
Is Hatch Baby BPA free?
Yes, they are BPA- and Phthalate-free.
Where is Hatch Baby located?
Hatch is headquartered in Menlo Park, California
What are annual revenue for Hatch Baby?
The company earns over $5 million in revenue per year.
What is the net worth of Ann Crady-Weiss?
Ann Crady-Weiss”s net worth is unavailable.
What is the net worth of David Weiss?
David Weiss’s net worth is unavailable.
