Hug Sleep Pod Shark Tank Net Worth
Hug Sleep Pod appeared on Shark Tank and had a net worth of approximately $1.5 million at the time. However, after appearing on the show, the company’s sales and overall worth increased significantly. As of 2023, Hug Sleep Pod has an estimated net worth of $5 million.
What is Hug Sleep Pod and Who is the founder of Hug Sleep Pod?
Hug Sleep Pod is a sleep aid product that uses Deep Touch Pressure (DTP) technology to help users sleep better. It is essentially an adult swaddle made of 89% polyester and 11% Lycra, which makes it comfortable and cool to wear.
Unlike a weighted blanket, the Sleep Pod is small, portable, and available in three different sizes.
The cocoon design of the Sleep Pod applies a soothing, comforting pressure on the body, which can help reduce heart rate and relax muscles.
The Pod is elastic and provides flexibility, allowing users to bring their pillow inside as well. It also has a hole for people who want to regulate their body temperature by keeping one foot out of the blanket.
The husband and wife team, Matt and Angie, founded Hug Sleep. Matt, who has a degree in mechanical engineering and experience as a new product designer, developed the Sleep Pod to address his own sleep problems.
He used his knowledge and expertise to design a product that applies gentle pressure to the skin, similar to the concept of a weighted baby blanket.
The Sleep Pod can be washed easily with regular laundry, and each pod costs $89.99, available for purchase on Amazon. It is beneficial for people who suffer from anxiety, sleep apnea, and other sleeping issues. The product has received positive feedback from customers who have found relief in using it.
Hug Sleep Pod Shark Tank pitch
During their pitch on Shark Tank in season 12 episode 3, Matt and Angie Mundt presented their product, the Hug Sleep Pod, which is a sleep aid for adults designed to swaddle them like newborns. The couple asked for $150,000 in exchange for a 10% stake in their company, which was valued at $1.5 million.
Angie explained the benefits of the product, particularly how the compression can help alleviate anxiety and other mental health issues. The Sharks were impressed with the low client acquisition costs and high-profit margins of 41%.
Despite Robert experiencing a fall during the demonstration, all the Sharks made offers. Mark and Lori made a joint offer of $300,000 for a 20% stake, while Daymond, Robert, and Kevin also offered the same. After some deliberation, Matt and Angie chose to accept Mark and Lori’s offer and left the pitch with a deal.
After the episode aired, the company received a flood of orders, generating $4 million in sales. In episode 1216, an update was given, stating that the company had released a new product, the Sleep Pod Move, in March 2021.
This version of the product allows users to keep their feet out of the bottom while using the sleep pod. The company’s annual revenue as of December 2021 was $1 million.
Competitors of Hug Sleep Pod
There are many competitors of Hug Sleep Pod in the market space. These are; Gravity, Zucklight, Pzizz, The Bed Tent, Sleepedy, The Pod by Eight Sleep, Proper, and Sandland.
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Summary Table: Hug Sleep Pod
| ASPECT | INFORMATION |
| Product | Sleep aid product that uses Deep Touch Pressure (DTP) technology |
| Composition | 89% polyester and 11% Lycra |
| Founder(s) | Matt and Angie Mundt |
| Sales Price | $89.99 |
| Shark Tank Valuation | $1.5 million |
| Shark Tank Deal | $300,000 for a 20% stake from Mark Cuban and Lori Greiner |
| Hug Sleep Pod net worth (2023) | $5 million |
| Annual Revenue | $1 million (as of December 2021) |
| Competitors | Gravity, Zucklight, Pzizz, The Bed Tent, Sleepedy, The Pod by Eight Sleep, Proper, and Sandland. |
| Notable Update | Hug Sleep Pod released a new product called Sleep Pod Move in March 2021 |
Hug Sleep Pod is a sleep aid product that applies DTP technology to help users sleep better. The product is made of 89% polyester and 11% Lycra and costs $89.99 per unit. The husband and wife team, Matt and Angie Mundt, founded the company. During their pitch on Shark Tank, they received a deal from Mark Cuban and Lori Greiner for $300,000 for a 20% stake in the company. As of 2023, Hug Sleep Pod’s net worth is estimated to be $5 million. The company has annual revenue of $1 million as of December 2021. The company’s competitors include Gravity, Zucklight, Pzizz, The Bed Tent, Sleepedy, The Pod by Eight Sleep, Proper, and Sandland. Hug Sleep Pod released a new product called Sleep Pod Move in March 2021.
Hug Sleep Pod Shark Tank Updates
Hug Sleep Pod is a wearable sleep pod blanket designed to ease anxiety and other mental health issues. The product was featured on Shark Tank, where the founders, Matt Mundt and Angie White, sought $150,000 for 10% of their business.
The sharks were impressed with the couple’s low customer acquisition costs and 41% profit. Lori Greiner and Mark Cuban made a deal with the founders, and the episode aired in 2018.
Two years after appearing on Shark Tank, Hug Sleep Pod had sold over 25,000 units, earning over $2 million in sales. The company’s net worth is estimated to be $5 million in 2023.
Since their appearance on Shark Tank, Hug Sleep Pod has made over $15 million in sales. The company has continued to grow and introduce new products, such as the Sleep Pod Move, which was introduced in March 2021.
Hug Sleep Pod has different adult and kids Sleep Pod models available for purchase on their website, Walmart, and Amazon.
The company has received national media coverage and has been discussed on Shark Tank even after its appearance. In an interview with Sleepopolis, Matt Mundt talked about the experience of being on Shark Tank and what has happened since with the Sleep Pod.
Mundt revealed that they received competitive offers from all the sharks and are still discussed on the show today.
Net Worth of Hug Sleep Pod
The company was valued at $1.5 during the pitch and after Lori and Mark invested. Since then the company has been doing well in sales with annual revenue of $1 million in 2021. This justifies that the company’s net worth has increased.
Hug Sleep Pod FAQs
What Is Hug Sleep Pod Shark Tank?
Hug Sleep Pod is a swaddle-like wearable blanket designed for adults that applies gentle, calming pressure around the entire body, providing comfort and inducing relaxation, just like a hug.
The product is based on the science of Deep Touch Therapy, which suggests that gentle pressure on the skin can help reduce anxiety and improve sleep quality. The Hug Sleep Pod is made from 89% polyester and 11% lycra and is machine washable.
In Season 12 Episode 3 of Shark Tank, the founders of Hug Sleep Pod, Matt Mundt and Angie Kupper, appeared seeking $150,000 for 10% of their business.
The Sharks were impressed with the product’s low customer acquisition costs and 41% profit. Mark Cuban and Lori Greiner made a deal with the founders, and since then, the company has reportedly made $15 million in sales.
The Hug Sleep Pod has been well-received by customers and has helped many people with anxiety and other mental health issues.
The product is available in different sizes, including kid sizes, and has an added mobility feature that provides optional foot freedom. The Hug Sleep Pod is portable and can be used while traveling.
How Does Hug Sleep Pod Shark Tank?
Hug Sleep Pod is a swaddle blanket for adults that provides gentle pressure to help reduce anxiety and induce relaxation, similar to the theory behind weighted baby blankets.
The pod is made from 89% polyester and 11% lycra and is machine washable. The unique cocoon-like shape of the Sleep Pod covers the entire body, applying gentle, calming pressure, just like a hug.
The Sleep Pod Move has added mobility and optional foot freedom, providing comfort and inducing relaxation.
Hug Sleep Pod appeared on Shark Tank seeking $150,000 for 10% of their business. The Sharks were impressed with the low customer acquisition costs and 41% profit. The company has sold over 25,000 wearable sleep pod blankets, earning over $2 million.
Two years after appearing on Shark Tank, Hug Sleep has made $15 million in sales. The Sharks noted that they received competitive offers from everyone and are still discussed on the show today.
Hug Sleep Pod is available on Amazon for $89.99. The company is likely seeking a Shark to help with production and manufacturing. The Sharks were interested in helping people with anxiety and other mental health issues.
The Sleep Pod’s gentle pressure provides comfort and relaxation, making it a unique product in the sleep industry.
What Happened To Hug Sleep Pod After Shark Tank?
Hug Sleep Pod is a self-contained sleeping pod designed to provide an individual with a comfortable, secure environment. The product was featured on Shark Tank, and Lori Greiner and Mark Cuban agreed to invest $300,000 for a 20 percent ownership in Hug Sleep Pod.
After the show, Hug Sleep Pod’s sales increased significantly. In the three months after Shark Tank, Hug Sleep sales reached $4.1 million with over 44,000 sleep pod units sold. Two years after Shark Tank, the company had $15 million in sales.
The company’s website was flooded with new orders following its Shark Tank exit due to its marketing efforts and positive customer feedback.
Hug Sleep Pod’s success can be attributed to its unique product design and the exposure it received on Shark Tank. The company was able to scale production from 200-300 sleep pods per week to over 10,000 sleep pods produced each week with Lori’s help.
The company’s profit margin is around 45 percent, achieved by selling the item at $22.50 and $99.99. The product has a rating of 3.8 on Amazon and has been featured on popular websites like Buzzfeed, Fast Company, and Yahoo Lifestyle.
In conclusion, Hug Sleep Pod’s appearance on Shark Tank helped the company gain exposure and secure an investment from Lori Greiner and Mark Cuban. The company’s sales increased significantly after the show, and it has continued to grow since then.
Hug Sleep Pod’s unique product design and positive customer feedback have contributed to its success.
Is Hug Sleep Pod Shark Tank Still In Business?
Yes, Hug Sleep Pod from Shark Tank is still in business. Since its appearance on Shark Tank, the company has achieved massive success and growth, with sales of over $15 million.
The Hug Sleep Pod is a self-contained sleeping pod designed to provide an individual with a comfortable, secure environment. It is covered in soft fabric and features an adjustable backrest and armrests that can be raised or lowered for extra comfort.
The product promises to offer its users a snug, cozy feeling while they sleep, thus providing them with optimal restful nights.
After the Shark Tank episode aired, the couple had sold more than 25,000 units of the Hug Sleep Pod, making $2.5 million in sales. The company has continued to grow while introducing more products, such as the Sleep Pod Move.
The Hug Sleep Pod website was flooded with new orders following their Shark Tank exit, and the company achieved a profit margin of around 45 percent by selling the item at $22.50 and $99.99.
The deal between Hug Sleep Pod and Sharks was completed a few days after the show aired, with Lori Greiner and Mark Cuban investing $300,000 for a 20 percent ownership in Hug Sleep Pod.
Hug Sleep is still profitable, with a yearly revenue expected to be around one million by the end of 2023. Due to its unique product, the Hug Sleep brand has been featured on popular websites like Buzzfeed, Fast Company, and Yahoo Lifestyle.
It currently has a rating of 3.8 on Amazon. Although the COVID-19 pandemic had some impact on the product, the company is still doing business very well.
What Is The Current Valuation Of Hug Sleep Pod After Shark Tank?
The current valuation of Hug Sleep Pod after Shark Tank is $5 million as of 2023. The company had an estimated net worth of $1.5 million when it appeared on Shark Tank, and Lori Greiner and Mark Cuban invested $300,000 for a 20% ownership in the company.
After the Shark Tank episode aired, the couple had sold more than $2.5 million worth of Hug Sleep Pods, and after three months, the number escalated to $4.1 million. The Hug Sleep Pod has been successful due to its marketing efforts and positive customer feedback.
The Hug Sleep Pod is a self-contained sleeping pod designed to provide an individual with a comfortable, secure environment. It is covered in soft fabric and features an adjustable backrest and armrests that can be raised or lowered for extra comfort.
The product promises to offer its users a snug, cozy feeling while they sleep, thus providing them with optimal restful nights. The Hug Sleep Pod uses the same sleeping psychology as weighted blankets to keep people calm and comfortable while they sleep.
In conclusion, the Hug Sleep Pod has been successful after appearing on Shark Tank, and its current valuation is $5 million as of 2023. The product has been successful due to its marketing efforts and positive customer feedback.
The Hug Sleep Pod is a self-contained sleeping pod designed to provide an individual with a comfortable, secure environment.
How much were asking on Shark Tank?
They were asking for $150,000 for a 10% stake in their company.
Did they have the deal?
Yes, they got a deal from Mark and Lori for $300,000 for a 20% equity share of the company.
How much was the deal worth?
The valuation of their company was worth $1.5 million after the investment.
How much is the Sleep Pod?
Hug Sleep Pod is $89.99 and can be purchased on Amazon.
What is the composition of the sleep pod?
Sleep Pod is comprised of a proprietary 4-way stretch polyp material that gives mild, relaxing pressure similar to being held or swaddled. The Sleep Pod is breathable, does not trap heat, is lightweight, and is machine washable.
Does swaddling work for adults?
Many people who have tried adult swaddling report that it makes them feel warm, soothed, and calm. While pleasant relaxation may be sufficient for some, others say that being swaddled also helps relieve discomfort, particularly postpartum pain and stiffness in the hips, shoulders, and back. Relaxes tense muscles
Are sleeping pods safe to use?
The Lullaby Trust has issued a warning that certain popular baby sleeping goods do not adhere to safer sleep requirements.
Cushioned sleeping pods, nests, baby hammocks, cot bumpers, pillows, duvets, and anything that wedges or straps a baby in place can be dangerous to babies under the age of a year.
Is hug sleep trademarked?
Sleep Pod’s innovative design, based on the science of Deep Touch Therapy, gives a mild, relaxing pressure throughout the entire body, encouraging comfort and relaxation.
Is Hug Sleep Pod available on Amazon?
Ys, Hug Sleep Pod products are available on Amazon.
Does Hug Sleep Pod accept PayPal?
Yes, Hug Sleep Pod accepts PayPal for payments.
What are the advantages of sleeping pods?
Sleeping pods provide a gentle rocking motion that is soothing to some people and a more pleasurable experience than watching television. Some people say it helps them fall asleep faster, sleep easier, and feel great in the morning.
Does Sleep Pod use deep touch pressure therapy?
Yes, The Deep Touch Pressure (DTP) system is a patented high technology that uses a unique combination of human touch and machine vibration to help promote relaxation, sleep, and pain relief.
What is the net worth of Angie Kupper?
The net worth of Angie Kupper is unknown.
What is the net worth of Matt Mundt?
The net worth of Matt Mundt is unknown.
