In a rare, not-even-six-months-later situation, Hug Sleep from season 12 of Shark Tank will be reappearing on the show. The company, founded by Matt Mundt and Angie Kupper, were already successes in their own right. But, since being on the hit show, demand – and sales! – have skyrocketed. If you’re wondering how they’ve been doing since their Shark Tank debut, keep reading below.
An Update on Hug Sleep from Shark Tank
1) Matt and Angie originally asked for $150,000 for 10% of their company. That put their valuation at about 1.5 million.
2) They had the numbers to back up their worth though. The duo managed to turn a $2,500 investment into $450,000 in sales in 16 months, according to CNBC.
3) While they didn’t get what they asked for, they got something even better. Matt and Angie got two sharks – Mark Cuban and Lori Greiner. Mark and Lori went in on the deal together, which was $300,000 for 20%.
4) According to Patch.com, within the first few weeks of Shark Tank‘s air, Hug Sleep sold 50,000 units. Matt and Angie estimated to maybe do between 2,500 to 5,000! That, and subsequent orders led to them ending 2020 with $4 million in sales.
5) Apparently, there’s a “next generation” sleep pod in the works. Matt put his mechanical science engineering degree to work and created the new product. It will be launching this week.
With features on everywhere from Lori Greiner’s official site to places like BuzzFeed, no wonder Hug Sleep is an overnight success! Tune in to ABC’s Shark Tank on March 12 at 8 PM ET to see their full update story.
Related
5 Facts on Hug Sleep from Shark Tank
Update on Twist It Up from Shark Tank Season 10
Update on FlexScreen from Shark Tank Season 11
Pingback: Kevin O'Leary Reveals Anger Management Classes on Shark Tank- The Reality TV
Pingback: 5 Facts on NuMilk from Shark Tank - The Reality TV
Pingback: 5 Facts on Bunch Bikes from Shark Tank - The Reality TV
Comments are closed.