Entrepreneur Jim Pittman pitched his air mattress company during
If you’re short on time, here’s a quick overview of what happened to AirBedz after
Jim Pittman appeared on
Shark Tank AirBedz Update
- Entrepreneur: Jim Pittman
- Business: Custom air mattresses for truck beds
- Ask: $250,000 for 15% equity
- Result: No deal
- Shark: None
Jim walked into the tank and introduced AirBedz, his custom mattresses for truck beds. Right away, Robert Herjavec and Kevin O’Leary showed skepticism about the product.
- Maximized Sleep Area: Fits around and over the wheel wells of your pick-up to utilize the entire truck bed. Equipped for comfort at a generous size of 76" x 63.5" x 12" when inflated
However, Jim assured them that the camping industry is in fact, a $56 billion a year industry. This means, there’s plenty of opportunity to make money.
Although, the sharks weren’t sure there was enough demand for it to be a profitable investment. Barbara Corcoran asked how easy it was to pump up, and Jim showed her the convenient inflation and deflation pump, activated with the press of a button.
In terms of sales, the previous year’s sales were $210,000, with $220,000 on track for the current year.
Each mattress cost $50 to $60 to make, and sold in retail for $199 to $209, or to camping stores from between $125 to $145. In terms of what he would do with an investment, Jim said he needed staff.
Robert wanted to know why there was so much inventory in stock, and Jim said he chose it like that.
Kevin thought it was too niche a product, but Robert went to try the product, jumping on it to test it.
Barbara wanted to know about competitors and Jim highlighted that no one else was currently doing built-in pumps. Mark, Kevin, and Daymond John were wary of the issues with widespread appeal.
Despite this, Mark Cuban said he saw the potential for dominating the market, but he was concerned about Jim not dominating it already.
Jim continued to build a hole in front of the sharks, with Mark telling him he wasn’t putting in enough effort. Mark went out, followed by Kevin, who couldn’t get past the niche aspect of the product.
Robert said Jim had yet to prove the viability of the product, and went out.
Daymond went out because he thought the product was still in the testing stage.
Barbara was the only one left, and said she loved the product but was on the fence. She asked about patents and Jim said he had four patents on the mattress.
After that, Barbara offered $250,000 for 50% equity. The other sharks explained why this was a great deal for Jim, but he countered with 25% equity.
Barbara gave him a moment to reconsider, but Jim didn’t back down. She went out, ultimately leaving Jim without a deal.
What do you think came next for Jim following
We have good news to share in our AirBedz update. The company is still in business, although Jim has since expanded his company into the larger brand, Pittman Outdoors.
Jim eventually ran into some patent issues, however, those have all been resolved now.
Products are available on Amazon as well as the Pittman Outdoors website. On both retailers, you will find a range of air mattress, along with truck bed and roof top tents, coolers, drinkware, awnings and more!
If we learn anything new about this company, we will certainly let you know. In the meantime, you can check out our other company updates from Season 3 Episode 13, by following the links below!
For even more on companies and products, be sure to stop by our Season 3 Products Page before you go!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!