Lou Childs and Katy Mallory pitched their blackout slumber tents for babies and toddlers on
If you’re short on time, here’s a quick overview of what happened to SlumberPod after
Lou and Katy Mallory appeared on
|Accepted deal for $400,000 for 20% equity
|$400,000 loan at 9% interest plus 7% equity
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 and Katy, 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 undeniably ready for a solution.
SlumberPod is a blackout privacy pod sleep nook that allows babies 4 months and up to get a good night's sleep in any room, day or night.
Babies and toddlers are very sensitive to light, and likewise, sharing a room with your children on vacation is particularly challenging. Additionally, Katy experienced this first-hand over a Christmas trip with her first daughter.
Following this ordeal, they decided to come up with a safe, and easy solution for parents everywhere. The SlumberPod, a breathable blackout tent, slides over a toddler bed, crib, or playpen.
It’s entirely black inside, so kids will sleep longer. However, in the demonstration, the toddler they use won’t actually stop crying while inside the tent, but that doesn’t deter the sharks from seeing the value here.
Since moms talk, they like to share what works. Because of this, SlumberPod has been able to sell $556,000 in just a few months, with very little advertising.
Needless to say, the sharks are very impressed. However, Lori Greiner is the first to drop out because she doesn’t actually think they should be giving away part of their business.
That said, Barbara Corcoran is still interested in partnering up. She offers $400,000 for 25% equity, although, she also adds an additional royalty per unit, which is yet to be determined.
At this point, Kevin O’Leary wants in too. He offers $400,000 as a loan, at 9% interest (36 months), for a 7% stake.
Unfortunately for the ladies, Robert Herjavec and Mark Cuban both drop out. This leads them to eventually ask Barbara if she’s willing to do their original deal instead, of $400,000 for 20% equity.
After some hesitation, she finally agrees, leading Lou and Katy to skip out with a deal. But what happened following
Our Slumberpod following
Also, it turns out that word-of-mouth advertising between moms really is effective! That’s because the company is now enjoying an estimated yearly revenue of $10 million, which is incredibly impressive!
Further, since partnering with the eCommerce technology company, Artica, sales have increased by at least 15.7%. But that’s not all; the company has also expanded its product line to include SlumberPod Pets, to help pets sleep well in their crates.
Check out their products at Walmart, Target, Amazon, and on the SlumberPod website.
You can find the other company updates from Season 11 Episode 10 here:
For even more on companies and products, be sure to stop by our Season 11 products page!
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!