Sleeping Baby Shark Tank Net Worth 2023
Brett and Stephanie entered the Tank seeking $200,000 in exchange for a 10% stake in their firm, hence valuing their business at $2 million.
However, they accepted an offer from Daymond of $200,000 for 20% stake resulting in the final valuation being reduced to $1 million.
Five years on from this deal and Sleeping Baby has had major success with its products earning it a net worth of approximately $15 million as of 2023.
What Sleeping Baby/ Zipadee-Zip? Who Founded Sleeping Baby?
Sleeping Baby is a company based in Fort Worth, Texas, that designs unique swaddling suits known as Zipadee-Zips. These suits keep babies’ hands warm while they sleep and assist them in self-soothing, allowing them to fall back asleep on their own.
This helps infants learn that they don’t need to be held in order to fall back asleep, giving parents greater peace of mind when putting their baby to bed.
Moreover, the Zipadee-Zip is more convenient than traditional swaddling, as it has a simple zipper that saves time and effort. It can also be quickly removed for diaper changes, making it a more convenient option for travel than traditional pajamas.
Additionally, it can protect your baby from harmful pathogens that may be on their hands, reducing the number of illnesses in newborns.
Even better, the Zipadee-Zip is not limited to use during infancy. It is available in several sizes, including 3-6 months, 6-12 months, 12-24 months, and beyond, making it a suitable option for toddlers as well.
The creators and owners of Sleeping Baby, Brett and Stephanie Parker, developed their company out of necessity, like many other innovative entrepreneurs. Their daughter struggled to sleep through the night after transitioning from swaddling, which left the Parkers sleep-deprived.
This is a common issue for newborns as they develop the startle reflex and wake up suddenly without the womb-like comfort of a swaddle.
Stephanie took action after a restless night and stitched together a prototype for what is now known as the Sleeping Baby Zipadee-Zip. This wearable blanket provides the comfort of a swaddle while allowing for movement, minimizing startle reflex and promoting better sleep for both infants and parents.
Initially, growth was slow, but the company eventually gained a good reputation and many satisfied customers.
What Happen To Sleeping Baby At The Shark Tank Pitch?
The narrative commences at the Parkers’ residence, where they disclose their past struggle with a miscarriage and subsequent resignation from their business. However, their customer base’s support allowed them to keep their company afloat.
In their pitch on Shark Tank, they sought $200,000 for a 10% stake, resulting in a $2 million valuation. The couple disclosed that they had sold 25,000 units, amounting to “a little over $1 million,” with an initial investment of $700.
When asked about the price range, Stephanie revealed that it was between $35 and $40. The Sharks were impressed by the Parkers’ resilience and moved by their tragic story. Lori offered $200,000 for a 25% stake, recognizing the extensive branding work needed for the Zipadee-Zip.
Daymond advised them to consider taking their product to retail, which was Lori’s plan. Mr. Wonderful, on the other hand, cautioned them against this, offering $200,000 for a 20% stake if they refrained from doing so.
Daymond ultimately won the deal by agreeing to invest $200,000 for a 20% stake, but the Parkers requested manufacturing assistance, to which Brett offered $200,000 for a 15% stake.
Daymond refused to lower his stake but agreed to their terms, keeping 20% ownership. The Parkers acknowledged that Daymond was their preferred choice in the hallway. Meanwhile, Mark and Robert were not involved in the deal.
Sleeping Baby after the Shark Tank Pitch
Sleeping Baby remains a successful business as of December 2021, with the deal between Daymond never closing. They have since expanded their range to encompass a “swaddle transition”, “zippy freedom” pajamas and baby accessories, leading to annual revenue of $5 million by August 2022.
Despite its success over the years, Sleeping Baby has maintained its boutique-style approach to providing quality products for parents and their children.
Sleeping Baby Net Worth
When Brett and Stephanie entered the Tank, they were seeking $200,000 in exchange for a 10% stake in their firm. This equates to a $2 million valuation. They accepted an offer from Daymond of $200,000 for 20% stake in the business thus bringing valuation to be $1 million.
Sleeping Baby Competitors
There is no competitor identified for Sleeping Baby.
Sleeping Baby FAQS
What is Sleeping Baby?
Sleeping Baby is a firm that creates one-of-a-kind swaddling suits called Zipadee-Zips.
The Zipadee-Zip keeps the baby’s hands warm throughout the night and helps him or her to self-soothe in order to drift back to sleep.
This teaches the baby that it does not need to be carried to fall asleep again, providing them with greater peace of mind when they put their baby down.
Who founded Sleeping Baby?
Brett Parker and Stephanie Parker, owners and creators of Sleeping Baby.
How much were they seeking in the Shark Tank Pitch?
They were asking $200,000 for a 10% stake in their firm.
Did they get the deal?
Yes. They get an offer from Daymond, who offered them $200,000 for a 20% stake in their company, which was accepted by the couple but they later rejected it.
Is Sleeping Baby still in business?
Sleeping Baby remains open as of December 2021 with an annual sales of $5 million.
What episode of Shark Tank was Sleeping Baby featured?
Sleeping Baby was featured on season 6 episode 1.
Where is Sleeping Baby located?
The company is based out of Fort Worth, Texas.
How can they contact them?
They can reach them through their email at [email protected]
How Does the Zipadee-Zip work?
This enables their kid to move freely while being confined and snug – similar to the sense of being wrapped in a swaddle. Additionally, the Zipadee-Zip keeps their kid warm throughout the night.
Does the Zipadee-Zip prevent Hip Dysplasia?
Yes! Zipadee-Zip is meant to keep the legs and body flexible, which supports healthy hip growth and prevents hip dysplasia.
Can their baby safely roll in the Zipadee-Zip?
Yes! Zipadee-Zip is particularly created to allow their child to push up, roll over, and squirm about safely and freely.
Can their infant suck his thumb or use a Pacifier?
Each infant has a Zipadee-Zip that is just suitable for them. Zipadee-Zip is compatible with any method used by a baby to self-soothe, including pacifiers and thumb-sucking.
Is Zipadee Zip a functional product?
It’s critical to know that any blanket or product meant for new-born sleep is safe. And, sure, the Zipadee Zip is completely secure.
They’ve never had an issue with their little man having his blanket pulled up over his face… they’ve done it a couple times for their kid for variety, and it worked extremely well.
Is Zipadee-zip a safe product for rolling infants?
Zipadee-starfish-shaped Zip’s design is a simple but ground-breaking approach to assist new-borns in transitioning out of swaddling napping.
It creates the “edges” or womb-like environments while allowing new-borns to roll and securely utilize their arms and hands.
When should you discontinue use of the Zipadee-Zip?
A baby can wear a size big until they reach the age of around 2-2.5 years. This is around the period when a toddler makes the transfer from the crib to the bed.
