Getting small children to sleep while away on trips can be a nightmare. Babies and toddlers often get anxious, and light from outside may seem like daylight to them. Lou Childs and Katy Mallory have the perfect solution: the Slumberpod! Will the sharks snooze on this great company during the Season 11 pitch? Find out in our
Shark Tank Slumberpod Update
- Entrepreneur: Lou Childs and Katy Mallory
- Business: Blackout sleep tents for babies and toddlers
- Ask: $400,000 for 20% equity
- Result: $400,000 for 20% equity
- Shark: Barbara Corcoran
Lou Childs and Katy Mallory, a mother-daughter duo, came up with the idea for Slumberpod after dealing with a wealth of sleep-challenged children. With nine kids between them, they were ready for a solution. Babies and toddlers are super sensitive to light, and sharing a room with your children while on vacation can be stressful: if they can see you, they’ll think it’s time to wake up.
Katy experienced this first-hand over a Christmas trip with her first daughter. After that, they decided to come up with a safe, easy solution for parents everywhere. The Slumberpod, a breathable blackout tent, slides over a toddler bed, crib, playpen, or other portable sleeping solution.
It’s entirely black inside, so kids sleep longer. In the demonstration, the toddler they use won’t stop crying while inside the tent, but that doesn’t deter the sharks from seeing the value here. Moms talk, and they like to share what works—Slumberpod has been able to sell $556,000 in just a few months with very little advertising.
Needless to say, the sharks are interested. Lori Greiner is the first to drop out, though, because she doesn’t think they should be giving away part of their business. She thinks they’re in a good place and should keep all of it. Barbara Corcoran shares a story about her real estate company, after an offer to buy it for around $250,000 fell through, she was later able to sell it for about $66 million.
The lesson, here, is not to sell stock at the wrong time. Still, Barbara wants to take advantage of the company. She offers $400,000 for 25% equity, plus a royalty per unit (to be determined). Kevin O’Leary calls this a greedy deal and instead offers $400,000 as a loan at 9% interest (36 months) for a 7% stake.
Robert Herjavec and Mark Cuban quickly drop out. Robert wanted to make a similar offer, and Mark thinks they should hold out for a better offer.
Lou and Katy are faced with a difficult decision. They ask Barbara if she’d be willing to do their original deal, $400,000 for 20%. She agrees, and the entrepreneurs skip out of the
After appearing on
It turns out that word-of-mouth advertising between moms is effective! Though revenue numbers for the company aren’t readily available, reports state that their revenue is in the six-figure range. During research for our Slumberpod update, we found that they now make Slumberpod Pets, a blackout tent to go over a dog or cat’s crate at night. They also sell fans to keep your kids and pets cool under the tent.
You can find the other company updates from Season 11 Episode 10 here:
Don’t forget to take a look at our Season 11 products page! We’ve got more company updates from