If you’re a fan of Shark Tank, then you probably remember the episode where Hug Sleep came on the show. The idea behind the company was to create a wearable blanket that would keep people warm and comfortable while they slept. After appearing on Shark Tank, Hug Sleep experienced a surge in popularity, but what happened after the show? In this blog post, we will answer some common questions about Hug Sleep and provide useful tips on what happened to them after Shark Tank!
Who Was the Brainchild Behind the Idea of Hug Sleep?
The idea of Hug Sleep was created by two entrepreneurs, Angie Kupper & Matt Mundt. They were inspired to create the product after experiencing a need for something that would provide comfort and support during sleep while also allowing people to stay cool. The brothers wanted to use technology to help people get a better night’s rest.
Matt was a troubled sleeper, and Angie had been researching sleep aids for months when they decided to create Hug Sleep. The friends began by designing a unique cooling mattress cover that also provided cushioning. They then developed an innovative air circulation system that allowed the mattress to stay cool throughout the night while providing support and comfort.
Although it took some time to develop their idea, Matt & Angie eventually launched Hug Sleep in 2019. Since then, their product has received incredible reviews from customers all over the world.
Sleep Pod utilizes Deep Pressure Therapy to provide a sense of security and comfort throughout the night. This technology uses light to moderate pressure to relax muscles, reduce tension, and help those with anxiety or insomnia fall asleep faster and stay asleep longer.
Despite finding the blanket enjoyable while lounging, he had difficulties sleeping with it due to its lack of breathability and ill-fitting size for his tall 6’3″ frame. Even worse was the difficulty in washing and transporting this one because of how bulky it was.
Drawing from his extensive professional experience in product design, Mundt embarked on a journey to craft something special. His ambition: Create an improved version of the weighted blanket that would not possess any of its drawbacks. After over twelve months dedicated to intense brainstorming and prototyping, he developed the Sleep Pod; An innovative new product with features unlike anything seen before.
Mundt outlines the distinction between a pod and weighted blankets, stating, ”The pressure you feel from the pod is calming yet gentle, unlike many weighted blankets that might make it seem like your body is being weighed down. Instead of feeling pressed upon, using one of these pods can almost be compared to someone embracing or swaddling you.”
Utilizing his invention, he experienced a significant improvement in his sleep quality. Here’s the unbelievable part: He designed this Sleep Pod for himself and had no intention of making it into a business!
Mundt’s friend, Kupper noticed how well the Sleep Pod worked for him and requested one of her own. Once Mundt created one for her, she persuaded him to start selling them because she recognized their therapeutic potential as behavioral therapists. She quickly realized that others could benefit from this innovation in sound sleep technology too!
“She really pushed for me to try selling these products and initially, I started Hug Sleep as a side hustle. I was working in corporate America, I wasn’t too happy with my job, and this was something I just put a few hours into every week,” says Mundt. “And it just exploded really from the get-go.”
When the Sleep Pod was unveiled in early 2019, it quickly gained traction after a few national media outlets ran features on this revolutionary sleep system. We started selling these products just weeks later and were inundated with emails from customers, bloggers, journalists -and even scammers!- raving about Hug Sleep’s innovative invention.
Suddenly, a message from an executive producer of Shark Tank arrived in their inbox. This individual professed to be searching for aspiring entrepreneurs to appear in the series’ upcoming season and was curious about Hug Sleep’s potential!
“Being a young, naive guy at the time, I thought, ‘Wow, maybe this is actually true, maybe Shark Tank wants us,’” says Mundt. “I remember talking to my brother, who can be a little cynical, and I mentioned that, and he goes, ‘Matt, there’s no way Shark Tank wants you on their show. You just started selling, you’ve been in business three weeks, there’s no way.’”
Mundt detected the dubiousness of the email due to its typos and lack of a precise address, thus he decided against replying.
Then a year later, the same person emailed again with a similar message, saying Shark Tank is still interested. At this point, Mundt says he decided to respond, thinking to himself, ‘Man, this scammer is really putting in the work to wait a whole year and to send another message.’” He again ran it by his brother, who said he’d bet him $ 500 that it wasn’t really Shark Tank.
Mr. Mundt expressed interest to the sender but requested visual evidence that would confirm their employment at the mentioned company. To his surprise, he received an image showcasing multiple Emmys with a sign bearing the name of said business in response!
And that’s how it all began! [1] [2] [3]
What Happened After Shark Tank?
In 2020, Shark Tank flew Mundt and his friend out to Las Vegas for their presentation on the show. They stayed in a hotel room where they continued to practice their pitch and study the business numbers right up until they stepped onto the stage. After hundreds of rehearsals, when it came time to make their presentation on Shark Tank, everything seemed like second nature – as though he was caught in a sort of ‘time warp’ with what felt like 10 minutes actually feeling closer to 90!
What the duo was asking was $ 150,000 for 10% equity in Hug Sleep Pod. The sharks were impressed but asked tough questions and pushed for improvements.
With enthusiasm, he and his wife discussed their goal of working out a deal with Mark Cuban and Lori Greiner – a $ 300k for 20% equity! Despite the fact that they were skeptical it was even possible, fate intervened. Miraculously, they managed to secure an agreement with both investors that turned out better than any of them had anticipated! They still stay in touch today – a testament to how far the right opportunity can take you if you are willing to strive for your dreams.
The sharks liked the sales figures and projections Mundt presented and decided to fund the Sleep Pod. This resulted in a life-changing, seven-figure investment for Hug Sleep!
The team was ecstatic as they left the makeshift stage that day, but little did they know that their work had just begun. [2] [3]
What Happened After Shark Tank?
So, once the episode aired, the duo was immediately surprised by a Shark Tank effect. Overnight, Hug Sleep’s website went from getting a few sales a day to thousands! With the addition of their Shark Tank platform, they’ve seen an increase in sales and exposure.
They had some trouble dealing with orders initially, but luckily they managed to overcome this issue with the help of fulfillment services. On top of that, they’ve been able to establish strategic partnerships with a few major players in the industry including!
And it does seem that they managed to close the deal with Lori and Mark. On the show, they stated that their goal was to get a deal that valued Hug Sleep at over $ 2 million dollars, and that’s exactly what they did!
In fact, after making an appearance at Shark Tank they earned a whopping $ 4 million in revenue — something that would not have been possible without their appearance on Shark Tank.
They continue to strive for success and look forward to expanding their business in the future. With all these positive changes, it’s safe to say that Matt and his wife have done an incredible job turning this dream into reality!
With Mark Cuban and Lori Greiner as mentors, plus additional financial help coming in through outside investors, all seemed to be going according to plan.
The team knew that this was only the beginning; there were still many things to be done in order for them to secure the success that had been presented on television. And so in 2021, they released a brand new product called Sleep Pod Move, perfect for the traveler, camper, or anyone who needs a good night’s rest.
This is basically a sleep pod with a hole in the bottom for the user’s feet. It’s a great product that is revolutionizing the way people sleep, as it enables them to bring their “bed” with them wherever they go!
And this was only the start of their innovations, they also added a hooded sleep pod and many more products that help people get a better night of sleep. They also introduced a series of men’s and women’s loungewear, perfect for all types of sleepers and climates.
The team is also working hard to keep up with the demand, which has skyrocketed from Shark Tank. The demand has been so great that now it’s become necessary for Hug Sleep to expand its fulfillment centers in order to get products to customers quickly and efficiently.
With Mark Cuban and Lori Greiner as mentors, plus additional financial help coming in through outside investors, all seemed to be going according to plan!
You can order their products directly from the official website. It’s a built-in incredibly convenient way. With just a few clicks, you can get your desired product delivered to your doorstep.
As for the lifetime sales, these are going to surprise you – they have earned over $ 15 million so far. Which is a testament to their success and hard work!
The future of Hug Sleep looks bright, and we can’t wait to see what else this creative duo comes up with next. We wish them all the luck in their endeavors and hope that everyone can benefit from their amazing product! [2] [3] [4] [4] [6]
FAQ
How much has Hug Sleep sold since Shark Tank?
Since appearing on Shark Tank, Hug Sleep has made considerable progress in terms of sales. In the first full year after their appearance on the show, they reported selling 10,000 units and generating revenues of over $ 1 million. That same year, they expanded their product line to include a new mattress and pillow collection.
In the years since then, Hug Sleep has seen even more success. They reported selling over 25,000 mattresses in 2018 alone and have grown their business considerably. Additionally, they have become one of the most well-known brands in the direct-to-consumer mattress industry and have been featured in publications like Entrepreneur Magazine and Forbes.
How is Hug Sleep doing Shark Tank?
It seems like Hug Sleep is doing incredibly well since the show! Not only they managed to secure the deal with Mark and Lori, but they also generated a lot of sales and got plenty of media attention.
The deal with the sharks consisted of an investment of 20% ownership in exchange for $ 200,000. With Mark and Lori’s help, Hug Sleep has been able to expand its product offerings and enhance its visibility through increased marketing efforts. As a result, their products have gained widespread acceptance all over the world. To date, Hug Sleep products can be found in major retailers such as Target and Walmart, as well as online channels like Amazon and eBay.
What happened to Hug Sleep after Shark Tank?
After appearing on Shark Tank, Hug Sleep experienced a surge in public interest and inquiries about the product. The team behind Hug Sleep was overwhelmed with orders, which helped them to raise more than $ 4 in sales after the show!
The success of the Shark Tank appearance helped Hug Sleep grow its customer base and gain a wider audience. They quickly began to expand their product line, introducing new products such as the Hug Sleep Pillow, Air Hug Mattress, and Hug Sleep Blanket. This allowed them to capture an even larger market share of the sleep health space and become a leader in the industry.
Who are the owners of Hug Sleep?
Angie Kupper & Matt Mundt are the owners of Hug Sleep. They wanted to provide people with a comfortable solution to their sleep issues that was also affordable and healthy. And that’s why they created Hug Sleep.
After appearing on Shark Tank in 2015, they were able to secure a deal with two of the Sharks. Mark and Lori both decided to invest $ 250k into the business in exchange for 20% equity each. This investment allowed Hug Sleep to expand their retail presence and launch their own website.
Useful Video: Shark Tank US | Robert Falls Off The Bed During Hug Sleep’s Demonstration
Conclusion
So far it seems like Hug Sleep has been a huge success since appearing on Shark Tank. After their appearance, the brand saw an increase in sales and a surge of new customers. With their patented technology and increasing demand, they have continued to expand their product line to include clothing products like pajama sets, onesies, sleep sacks, and more.
At the show, they managed to strike a deal with Mark and Lori. Since then, the company has seen growth and continued to partner with major companies such as Amazon and Walmart. This ensures that their products are readily available to consumers all over the world.
Even though they faced some bumps in the road, Hug Sleep was able to stay strong and use it as a learning experience. With their unique products and commitment to quality, there is no doubt that this company will continue their success for years to come. Their appearance on Shark Tank gave them further exposure and opened up new opportunities for the brand- allowing them to reach more customers than before.
We hope this guide shed some light on what happened after Hug Sleep’s appearance on Shark Tank. By understanding their journey, we can learn valuable lessons about business and perseverance. Hug Sleep has proven that you can have a successful business, even if it takes hard work and dedication.
If you are looking for comfortable sleepwear with innovative features, make sure to check out the Hug Sleep collection! With their patented technology and premium fabrics, you won’t regret your purchase.
Happy sleeping!
References:
- https://www.sharktankblog.com/business/hug-sleep/
- https://www.sharktankblog.com/hug-sleep-pod/
- https://bizzbucket.co/hug-sleep-shark-tank-update/
- https://hugsleep.com/
- https://www.instagram.com/hug_sleep/?hl=en
- https://www.facebook.com/HugSleepPod/