What Happened To Hug Sleep Pod After Shark Tank?

This post may contain affiliate links and I may receive a small commission if you make a purchase using these links – at no extra cost for you. Please read my disclaimer here.

The Hug Sleep is a unique, innovative, and effective swaddle intended to help adults sleep better by allowing them to feel safe, secure, and comfortable. 

After appearing on Shark Tank in 2020, the Hug Sleep Pod became one of the most highly anticipated products we've seen in quite some time. But how is it doing now?

What is the Hug Sleep Pod?

The development of the Sleep Pod was a group effort that included psychological research, mechanical engineering, and the exploration of deep pressure touch treatment

71+9+tD8lTL._AC_SL1500_

If you've ever wanted to swaddle an adult, the Sleep Pod could be the closest thing to it. It can be used as a makeshift blanket or sleeping bag in cold weather.

The pod is lightweight and tiny, and it gently massages the user by rubbing against them in a way that mimics the feeling of being held or loved.

When a person is experiencing sensory issues, worry, or anxiety, compression might be more helpful than weight.

Suppose you have trouble keeping your body temperature at an average level, causing you trouble sleeping.

In that case, you might benefit from this therapy. The Hug Sleep Swaddle Blanket is crocheted from stretch fabric and designed in the shape of a swaddle blanket to provide a peaceful night's sleep.

Who founded Hug Sleep Pod?

The Hug Sleep Pod was first established as a business by Angie Kupper and her husband, Matt Mundt

Even though their diverse pasts, they are working for the same objective. They collaborated to produce something that would induce sleep in both of them.

Following the death of "Angie's" mother, she decided to assist those who have mental illnesses. After completing her master's degree in the relevant subject, she worked in the mental health industry for around 10 years.

During her journey, she discovered the importance of sleep to both physical and mental health. Because of this, she reasoned that there was a demand for this product on the market, and she came up with the concept to produce it.

Matt, who is formally trained as a mechanical engineer, has spent most of his professional life in product design, investigating various methods for enhancing the quality of sleep.

He has an extensive background in studying sleep and its relationship to rest and recovery, as well as understanding how products can be used to promote better sleep.

Matt Mundt waged a constant uphill fight against his inability to get a peaceful night's sleep throughout his whole life. He had difficulty falling asleep and battled to remain asleep throughout the night

He gave a variety of weighted blankets a go. Still, none of them were successful in helping him achieve the necessary amount of restful sleep.

Hug Sleep Pod before Shark Tank

Hug Sleep has previously developed a number of lucrative enterprises before appearing on Shark Tank. The prior year's sales were reported to be $335,000.

Throughout its career, this item had a high potential income ceiling of $490,000

However, customers are purchasing this product in droves because it addresses an issue that has been stopping them from getting a good night's sleep. This issue has been preventing them from receiving the rest they need.

In addition to being produced in the United States of America, the manufacturer offers a 30-night sleep guarantee.

The Hug Sleep Pod has received coverage from respected media outlets such as Buzzfeed, Fast Company, and Yahoo Lifestyle due to the unusual nature of its product. As of this writing, it has 4.1 stars out of 5 on Amazon.

How was the Shark Tank pitch of Hug Sleep Pod?

Angie Kupper And Matt Mundt, the founders of Hug Sleep, had an excellent presentation on Shark Tank.

3173b3f26e36e1fc3208eb0f324cd900

After going through the figures in detail with Kevin O'Leary, the pair determined that the total net profit they were making at the time was 41%. The Sharks were quite pleased by this.

Angie said that the two of them had launched their company with a little over $2,500 and were already making a profit after two weeks of operation. However, to pay the inventory expenses, they needed $150,000.

They then explained why sharks should care about this issue by telling an accurate tale from their own life journey. The founder of a new firm requested $150,000 from Shark in return for 10% ownership in his young enterprise.

After Daymond John's first offer of 20% and O'Leary's initial offer of 15%, Lori Greiner came in with her own offer of 15% to counter.

Then, in order to compete with them, Mark Cuban placed two offers. You may either give them the money for a 10% commission or offer them $300,000 for a 20% stake in the company.

Daymond John agreed with Greiner that she should negotiate her business terms with Cubans, and he encouraged her to do so.

Mark Cuban and Lori Greiner, two investors, contacted the company's founder with a concern about the sales rate.

The two chose to invest $300,000 in exchange for a 20% ownership part in this organization since its sales rate was reasonable and it was assisting folks with their problems.

What happened to the Hug Sleep Pod after Shark Tank?

Hug Sleep Pod had a significant boost in online sales after its debut on the program "Shark Tank," owing to the effectiveness of its marketing methods and the positive feedback it got from its clients.

Képernyőkép 2022-08-25 142335

The popularity of their website and the Amazon marketplace they managed aided in the increase in the number of orders they got. This is the major online buying marketplace, with Amazon leading the way.

The product started at $110 and could only be bought on the company's website.

However, since the business received $300,000 in cash from the Shark Tank pitch in exchange for a 20% stake in the company, the total worth of the company's assets climbed to $1.5 million in 2020.

Hug Sleep Pod Shark Tank update

Following its appearance on Shark Tank, sales of the Hug Sleep Pod increased by almost 200% compared to the previous year.

They were provided free national television advertising, which resulted in a large number of people visiting their website on the same day, with 10% placing an order for this product.

The company received a major boost once Mark and Angie invested the money they acquired on "Shark Tank" into production and advertising.

Is Hug Sleep Pod still in business?

Hug Sleep Pod is still operating, and its headquarters may be located in Brookfield, Wisconsin. In addition, the company still has a website.

What Happened To Hug Sleep Pod After Shark Tank

This allows customers to purchase a sleeping pod in a cocoon style for any age, including adults and children. You may also get it at Amazon.com, the world's largest online retailer. 

Both Matt and Angie, who first formed the company together as a husband-and-wife partnership, are now employed by the company in some capacity.

The company's sleep pods are now available for distribution in the United States and come in sizes suitable for both adults and children.

The retail price for adults is $99.99, and the retail price for the juvenile size is still $89.99.

The Hug Sleep Pod has been tremendously successful as a result of its lucrative business strategy, unwavering customer demand, and the backing of two tough Sharks.

Both the company's website and Amazon seem to be doing rather well for the sleep-aid and anxiety-reduction providers.

What is the net worth of Hug Sleep Pod?

Following the Shark Tank pitch, the Hug Sleep Pod's valuation increased to $1.5 million

As a result of the high volume of sales, the founders were able to create a strategy to improve the company's financial standing.

The takeaway

The Hug Sleep Pod has grown rapidly and successfully since its appearance on Shark Tank. Lori and Mark, who invested in their product, continue to help grow the company through marketing and many aspects of the business. 

In a short time, the founders of Hug Sleep Pod have grown their sales to over $1 million

The Shark Tank investors and the company's founders continue to work together in order to grow the brand and increase profits through marketing techniques. The couple loves this business, and it is clear that they had no problems expanding it!

About the author 

Peter Keszegh

Most people write this part in the third person but I won't. You're at the right place if you want to start or grow your online business. When I'm not busy scaling up my own or other people' businesses, you'll find me trying out new things and discovering new places. Connect with me on Facebook, just let me know how I can help.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}