Simple Habit Shark Tank Net Worth 2023
A source reports that Simple Habit’s founder Yunha Kim has a net worth of $20 million as of 2022. This article also states that before appearing on Shark Tank in October 2017, Simple Habit’s net worth was $12 million and its net worth in 2020 was $4.5 million.
During her pitch on Shark Tank in 2017, Yunha Kim asked for $600,000 for 5% equity but did not receive a deal.
At the time of her pitch, Simple Habit had 500,000 users and over 5,000 paid subscribers bringing in $750,000 in annual recurring revenue. The business was growing 50% quarter over quarter and was well-funded.
What is Simple Habit? Who is the founder of Simple Habit?
Simple Habit is a software designed for mindfulness meditation. It offers a vast collection of more than 1600 guided meditations that cater to a range of issues such as stress, weight loss, relationship troubles, and better sleep.
The software enables users to practice meditation in diverse environments, rather than just sitting with closed eyes. Depending on their present surroundings or situation, users can choose from various meditation activities.
For instance, there are multiple 5-minute meditation exercises available for driving, flying, and preparing for meetings. This way, users can de-stress themselves through meditation in several different scenarios.
Simple Habit was founded by Yunha Kim, an experienced entrepreneur who had earlier sold her company, Locket, to Wish. Yunha still holds the CEO position at Simple Habit today.
In 2016, Yunha Kim launched Simple Habit, responding to the stress and exhaustion she faced while creating her first firm, Locket.
Locket was introduced in 2013 as a lock-screen app that displayed news and notifications on a phone’s lock screen. In 2015, Locket was acquired by Wish, a mobile shopping app.
In 2016, Yunha co-founded Simple Habit with a Harvard psychologist, and it was released in July of the same year. It caters to busy young professionals who seek a calming influence in their hectic working lives.
The basic version of the software is free, but advanced versions are available at a cost between $49 and $99 per year. Simple Habit has received positive 5-star ratings and is among Apple’s “apps we love.”
From surgeons to parents to young professionals, anyone can use Simple Habit to relax and unwind.
Simple Habitat Shark Tank Pitch
Yunha Kim appeared on the ninth season premiere of Shark Tank, seeking funding for her meditation app, Simple Habit.
She hoped to secure a deal with one of the Sharks to help scale her business. Yunha requested $600,000 in exchange for a 5% stake in her company, which had a valuation of $12 million.
During her presentation, Yunha invited the Sharks to meditate with her, but Mark criticized the exercise and questioned the value of her app.
Despite this, Yunha revealed that Simple Habit had 500,000 users and generated $750,000 in annual revenue from its premium content, which cost $11.99 monthly or $99 annually. The app had 5,000 premium subscribers in 2017.
Yunha had raised $2.8 million for her company, but it was not yet profitable. She anticipated revenues of $5 million in 2018 and had only spent $500,000 of the investment. However, some Sharks, including Mark, believed she was only seeking publicity and did not need the funding.
Richard offered to invest $300,000 for a 10% stake, but Mark mocked the offer, and Richard retaliated by throwing his water glass at him.
Robert then joined Richard, offering the same investment, bringing the total to $600,000 for a 20% stake in the company. Yunha began to cry and declined the offer, leaving without a deal.
Despite this setback, Simple Habit had 75,000 downloads on the night of the show and eventually surpassed its competitor Headspace as the most popular meditation app in the Apple Store.
The company raised an additional $10 million in funding and was included in Forbes’ 2017 list of the world’s 30 under 30.
However, in February 2019, the company faced a class-action lawsuit in California, accusing them of unauthorized charges to customer payment methods.
Despite this, Simple Habit continued to operate and even launched a new feature, “Better Together,” during the Covid-19 pandemic, which allowed users to meditate together in real-time. As of February 2022, the company was still operational and generating $34 million in yearly sales.
Competitors of Simple Habit
The top competitors of Simple Habit are; Amare Global, Calm.com, Whil Concepts, Starling Minds, MyCognition, Inscape, GLO CPAs and Sacred Acoustics.
Net Worth of Simple Habit
The company valuation was $12 million during and after the pitch. In 2018 the company has a net worth of $10 million. Since then the company is still operating and hence the company net worth might be higher than that of pitch.
Simple Habit Updates
Simple Habit is a meditation app designed to help busy people stress less, achieve more, and live better. The app is accessed through a smartphone and offers customized meditations to its users.
Simple Habit is free to download, but customers must pay a monthly fee to access premium content. The app has a net worth of over $10 million.
Simple Habit was introduced by Yunha Kim in Shark Tank episode 903. She asked for $600,000 for 5% equity, but none of the sharks made a deal with her. The app had 75,000 downloads on the night of the show.
However, less than three weeks later, the creator of Whil, a competing wellness app, publicly accused Yunha of stealing his business model.
Simple Habit offers two auto-renewing subscription options to help users achieve mindfulness and breathe easier.
The app is recommended by psychologists, therapists, and mental health experts. Simple Habit offers coaching content, motivational talks, streak tracking, and mindful minutes to track progress. The app is designed for busy lifestyles and offers sessions for life’s daily problems.
Simple Habit Shark Tank Table Summary:
| INFORMATION | DETAILS |
| Founder | Yunha Kim |
| Product | Simple Habit, a mindfulness meditation software offering over 1600 guided meditations. |
| Shark Tank Pitch | Yunha Kim asked for $600,000 for 5% equity in 2017 but did not receive a deal. |
| Revenue | Simple Habit generated $750,000 in annual revenue in 2017 with 5,000 premium subscribers. |
| Valuation | Simple Habit had a net worth of $12 million before appearing on Shark Tank, $4.5 million in 2020 and $10 million in 2018. |
| Funding | Simple Habit raised $2.8 million before appearing on Shark Tank and an additional $10 million after the show. |
| Lawsuit | The company faced a class-action lawsuit in California in 2019, accusing them of unauthorized charges to customers. |
| Competitors | Amare Global, Calm.com, Whil Concepts, Starling Minds, MyCognition, Inscape, GLO CPAs, and Sacred Acoustics. |
| Current net worth | Simple Habit’s net worth is unknown, but the company generated $34 million in yearly sales in 2022. |
Simple Habit FAQs
What Is Simple Habit?
Simple Habit is a meditation app designed to help busy people stress less, achieve more, and live better. It is recommended by top mental health experts and has over 5 million users. The app offers 5-minute mindfulness and meditation sessions that can improve life through stress relief and improved sleep.
Simple Habit is perfect for busy lifestyles and has an On-the-Go feature that allows users to quickly calm their anxiety and achieve a sense of mindfulness.
Simple Habit was founded by Yunha Kim in 2016 with the aim to be the “Netflix of Meditation”[4]. The company received $12.5 million in total funding from various investors, including Y-Combinator and Foundation Capital.
In 2023, Simple Habit was acquired by Alpine Investors-backed wellness marketplace company Ingenio and rebranded itself to Sleep Reset, which is a sleep-focused app that was launched last year.
Simple Habit will continue as a stand-alone product as well as a further wellness content layer for Ingenio’s global brand footprint.
What Is The Current Valuation Of Simple Habit?
Simple Habit is a meditation app that provides customized meditation sessions for busy people. The app is free to download, but customers must pay a monthly fee to access premium content. Simple Habit’s estimated annual revenue is $5 million.
Simple Habit’s peak revenue was $1.5 million in 2022. The app has 500,000 users, and over 5,000 paid subscribers bring in $750,000 in annual recurring revenue. Simple Habit’s total funding is $12.6 million, with $2.5 million raised in seed funding and $10 million raised in Series A funding.
As of 2023, Simple Habit is worth $12 million. The app is still going strong with a net worth of over $10 million[3]. The company was founded by Yunha Kim, who pitched her business on Shark Tank but couldn’t reach a deal.
Simple Habit is one of the top-rated meditation apps, along with Calm, Headspace, and Insight Timer.
What Happened To Simple Habit After Shark Tank?
Yunha Kim, the founder of Simple Habit, appeared on Shark Tank in 2017, asking for $600,000 for 5% equity in her company. However, she did not reach a deal with any of the Sharks. Despite this setback, Simple Habit has continued to grow and is still in business.
As of 2023, the app is worth over $10 million. Simple Habit offers over 1,600 guided meditations that cater to a range of issues such as stress, weight loss, relationship troubles, and better sleep. The app is free to download, but customers must pay a monthly fee to access premium content.
Since appearing on Shark Tank, Yunha Kim has continued to develop Simple Habit and has raised additional funding. As of 2022, she has a net worth of $20 million. Simple Habit is now one of the top-rated meditation apps, along with Calm, Headspace, and Insight Timer.
The app has over 500,000 users and over 5,000 paid subscribers, bringing in $750,000 in annual recurring revenue. The business is growing 50% quarter over quarter and is well-funded.
In conclusion, Simple Habit has continued to thrive after appearing on Shark Tank, despite not receiving an investment from the Sharks. The app is still in business and has grown significantly since its appearance on the show.
Yunha Kim has continued to develop the app and has raised additional funding, resulting in a net worth of $20 million as of 2022. Simple Habit is now one of the top-rated meditation apps, offering over 1,600 guided meditations to help users relieve stress and improve their mental well-being.
Is Simple Habit Still In Business?
Simple Habit is still in business as of April 2023. Simple Habit is a meditation app that was founded by Yunha Kim in 2016. The app is designed to help busy people stress less, achieve more, and live better.
Simple Habit has over 5 million users and has a net worth of over $10 million. The app is available for download via app stores.
In March 2023, Simple Habit was acquired by wellness marketplace company Ingenio. As a result of the acquisition, Simple Habit will rebrand itself to Sleep Reset, which is the name of a sleep-focused app that Simple Habit launched in 2022.
Simple Habit will continue as a product and Yunha Kim will join Ingen
What is Simple Habit?
Simple Habit is a meditation app for people who are stressed, for those who have never meditated before, and for others as well. It provides guided meditation in a very easy way.
The main goal is to help people find their “recharge.” It helps users manage stress and anxiety related to work, or even personal matters such as relationships and parenting.
Who is the founder?
Yunha Kim founded Simple Habit with a Yale psychologist in 2016. Yunha was the founder and CEO of Locket.
How much was seeking on Shark Tank?
Yunha was seeking for $600,000 for 5% stake of the company, which valued at $12 million.
Did she have the deal?
No, she did not get the deal.
Is Simple Habit still in business?
Yes, Simple Habit is still in business. Subscribers can download the app on Google or Apple store.
When was Simple Habit founded?
Simple Habit was founded in 2016.
How to use Simple Habit?
Simple Habit can be downloaded on Apple app store and Android play store. One can also access it on the official website of the company.
What is the price of yearly subscription?
Simple Habit has two types of subscription: annual and monthly. The annual subscription is $99, while the monthly subscription is $11.99.
What do you mean by recharge?
The goal of Simple Habit’s guided meditation sessions is to help people recharge.
What are some of the available sessions?
Simple Habit offers a variety of different sessions, ranging from 5 minutes to 20 minutes in length.
What are the payment methods accept by Simple Habit?
Simple Habit accepts credit or debit cards, including Visa and MasterCard.
Where is Simple Habit headquarters located?
Simple Habit is based in Los Angeles, CA, United States.
Is Simple Habit really work?
Simple Habit is a meditation app that relies on meditation in a guided form. It can help users cope with stress and anxiety.
How many subscribers Simple Habit has?
Simple Habit has around 1 million monthly users.
What can one learn in simple habit?
Users of Simple Habit can learn to meditate, manage work-related stress or anxiety, sleep and beyond.
Is simple habit really free?
No, it costs $11.99 per month after the 7-day trial expires.
How do I cancel my Simple Habit subscription?
Simple Habit users can cancel their subscription in the app. It is also possible to reach out to Simple Habit support desk for assistance.
What if I want to update my mobile number?
Simple Habit users can update their mobile number by going into the app and tapping on “Change” under “Account Information.” Alternatively, it is possible to contact Simple Habit support.
What if I want to change my username?
Simple Habit users can update or change their username via “Account Information” under “Profile.
What is the net worth of Yunha Kim?
Yunha Kim is the founder of Simple Habit. Her net worth is not available.
