SlumberPod Shark Tank Net Worth 2023
Slumberpod is a startup that has made great progress in 2021, with an estimated net worth of $2 million during the pitch and since they have made some sales, their company net worth has likely increased.
As of 2022, Slumberpod’s total worth stands at around 5 million US Dollars and counting; it is expected that the value will continue to rise within the coming months.
The success of this business is due to its innovative design that provides families with a comfortable solution for travel and providing children with a safe sleep environment.
What is SlumberPod? Who is the Founder of SlumberPod?
SlumberPod is a portable privacy pod that allows children to sleep in a dark and soothing environment. It is breathable and can be easily attached to any surface where the child is sleeping.
This product is designed to be compact enough to fit in carry-on luggage, making it ideal for families who travel frequently.
Katy and Lou are the creators of SlumberPod, which was designed to help parents cope with their children’s difficulty sleeping in new environments during vacations. They wanted to alleviate parents’ sleep deprivation and misery while traveling.
Katy searched online for a product that would provide a quiet, dark sleeping environment for her child while traveling. When she was unable to find anything suitable, she created her own solution to create a visual barrier between herself and her child.
However, the homemade solution was neither private nor easy to set up. When Katy was on maternity leave with twins in 2016, she and Lou decided to create a portable, easy-to-use solution to make vacations more enjoyable for everyone. Thus, SlumberPod was born.
The product received a lot of support and encouragement from friends, family, product designers, fellow entrepreneurs, and consultants. In 2018, Katy and Lou raised $45,608 on Kickstarter to get things started.
The patent-pending SlumberPod was a hit, and it is now available for purchase on Amazon for $155. Katy and Lou believe that they have created a successful product.
What Happened to SlumberPod at Shark Tank pitch?
Katy and Lou raised $45,608 on Kickstarter and then proceeded to present their business to the investors on Shark Tank. They requested $400,000 for a 20% stake in their company, which was valued at $2 million.
During their pitch, they impressed the Sharks with their $556,000 in revenue since launching, as well as the fact that their business was profitable and had no debt.
Lou and Katy expressed a desire for one of the Sharks to assist them with increasing production to meet the high demand for their product.
However, Lori, Robert, and Mark all decided not to invest in the company. Kevin offered $400,000 as a debt investment, while Barbara offered $400,000 for a 25% stake in the business, with a condition that she receive a portion of each sale until she recoups her investment.
After a lengthy negotiation, Barbara agreed to invest $400,000 for a 20% equity stake in the company. Finally, SlumberPod and Barbara reached a deal.
What Happened to SlumberPod after Shark Tank?
Although Lou, Katy, and Barbara cheered on the pitch, the deal with Barbara ultimately fell through. Despite this setback, the company has been performing exceptionally well in its specific market, experiencing steady growth in recent years.
In recognition of their efforts, the company received the prestigious Good Design Award from The Chicago Athenaeum Museum of Architecture and Design in April 2020, specifically in the Children’s Products category for their 2019 offerings.
Since June 2020, they have also been named one of Atlanta Inno’s “50 On Fire” in the Business-to-Customer category, a testament to their success.
Having sold over 20,000 units, the company is eager to expand their product line and increase their retail presence, including boosting sales on Amazon. Unfortunately, there has been an alarming increase in counterfeit versions of their product on Amazon, causing concern for the company.
As of July 2021, the product is no longer available on the company’s website due to supply chain issues, which have affected their revenue, totaling less than $5 million per year. They hope to restock in mid-July 2021.
Competitors of SlumberPod
The company competes with the following companies; SnoozeShade Pack n Play Canopy, Milliard Darkening Tent, Minnebaby Darkening Cover and EasyGo ZZZ Crib Canopy Blackout Tent.
Net Worth of SlumberPod
The net worth of SlumberPod is estimated to be $2 million during the pitch and since they had made some sales in 2021 thus the company net worth might have also increase.
SlumberPod Shark Tank Updates
SlumberPod is a portable baby crib that provides babies with a private, dark place to sleep. The product was created in 2014 by Katy Mallory and her mother Lou Childs. In 2018, they launched a Kickstarter campaign that successfully raised $45,608.
In Season 11 Episode 10 of Shark Tank, Katy and Lou appeared seeking $400,000 for 20% of their business. Barbara Corcoran offered $400,000 for 25% equity in exchange, along with a contingency that she would get a profit share over each unit until she recouped her investment.
Katy and Lou countered with $400,000 for 20% equity, and Barbara eventually agreed to the counteroffer. The deal was closed at $400,000 for a 20% stake in the business.
SlumberPod is available for purchase on Amazon for $155. The product is designed to help parents get small children to sleep while away on trips, providing a peaceful, silent, and dark place for a baby to sleep in.
The SlumberPod is a portable tent-like crib that parents can easily carry while traveling to provide a safe space for their baby to sleep.
Summary Table for SlumberPod:
| TOPIC | SUMMARY |
| What is SlumberPod? | Portable privacy pod for children’s sleep during travel |
| Founder | Katy Mallory and Lou Childs |
| Shark Tank Pitch | Asked for $400,000 for a 20% stake, Valued at $2 million |
| Investors | Barbara Corcoran invested $400,000 for a 20% stake |
| Sales | Sold over 20,000 units, revenue less than $5 million/year |
| Net Worth | Estimated to be $2 million during the pitch, likely increased |
| Competitors | SnoozeShade Pack n Play Canopy, Milliard Darkening Tent, Minnebaby Darkening Cover, EasyGo ZZZ Crib Canopy Blackout Tent |
SlumberPod FAQs
What Is SlumberPod And How Does It Work?
SlumberPod is a portable, US-patented sleep solution for babies or toddlers that provides a private sleeping space. It is a bottomless, portable privacy pod that fits over most playards and mini cribs, plus select toddler cots and small inflatable mattresses.
The Slumber Pod crib is like a crib/tent hybrid that provides babies a private, dark place to sleep. The product was created in 2014 when Katy and her family were visiting Lou (mom) over the Christmas holidays.
The SlumberPod is designed to be used at home or on-the-go in a room that is not completely dark or quiet. It is easy to pack and assemble, and it is cozy for the baby, making it incredibly helpful for a solid night’s sleep.
Who is the Founder of SlumberPod?
Katy and Lou is the founder of SlumberPod, this product to alleviate parents’ sleep deprivation and misery on vacations due to their children’s difficulty adjusting to a new sleeping environment.
What Was The Outcome Of The SlumberPod Shark Tank Pitch?
In their Shark Tank pitch, Katy Mallory and Lou Childs sought $400,000 for 20% of their blackout pod for kids. After some negotiation, Barbara Corcoran agreed to the deal.
Therefore, the outcome of the SlumberPod Shark Tank pitch was that Barbara Corcoran invested $400,000 for 20% equity in the company.
What Happened To SlumberPod After Its Appearance At The Shark Tank?
After appearing on Shark Tank, SlumberPod received a $400,000 investment from Barbara Corcoran for 20% equity in the company. The product is available on popular websites such as Amazon, Bed, Bath & Beyond, and Buy Buy Baby websites and apps.
SlumberPod is a patent-pending, quick-assembly privacy pod that helps babies/toddlers get a good night’s sleep, especially important when traveling and sharing a room. There have been no recent updates on the company’s progress since the Shark Tank episode aired.
What is their offer on Shark Tank?
They were asking for $400,000 for 20% stake of their company at valuation of $2 million.
Who invested on SlumberPod?
Barbara invested $400,000 for 20% stake of the firm but she had to recoup her investment amount. Then the deal did not close.
Is still in business?
Yes, they are still in business.
Why SlumberPod is better than competition?
It is better to have the mattress be directly exposed to air for breathability. It provides an opportunity for air flow to come in between the sides of the mattresses and the sides of the bed frame.
Also, if there are any gaps in your kid’s cover, these can be sealed by using a rubber band.
When did SlumberPod come out?
Thus, in the summer of 2018, Childs and Mallory launched SlumberPod, which immediately gained traction.
What episode of Shark Tank is SlumberPod?
Episode Season 11 Episode 10
What is SlumberPod made of?
SlumberPod is totally self-contained and does not require attachment to the play yard or crib.
SlumberPod air permeable (or breathable) primary fabric is composed of 85% polyester and 15% spandex and does not contain the mesh that is generally connected with the dangers of crib covers dubbed “crib tents.”
Is the SlumberPod hot?
In their experience, if the room is not temperature controlled, the SlumberPod may become heated on a hot day. They have discovered that opening all of the windows and turning on the fan inside the pod considerably helps lessen the warmth.
Can you use SlumberPod with SNOO?
“SlumberPod should fit over a Shoo bassinet,” the manufacturer states. Please keep in mind that they recommend using SlumberPod with the zipper closed until their child is 4 months old or older, since infants are the most susceptible.
They propose that parents keep their babies within eyeshot so they may observe their sleeping habits easily.
How do you get a baby to sleep in a SlumberPod?
Prior to naptime or bedtime, insert a small pillow inside the play yard or mini-crib in the approximate location where their child sleeps.
Utilize the cushion as the focal point to focus the camera within the monitor pouch. Once it is focused, remove the cushion and relax knowing that they are ready to sleep when the time comes!
What is the net worth of Katy Mallory?
The net worth of Katy Mallory is unknown.
What is the net worth of Lou Childs?
The net worth of Lou Childs is unknown.
