AirBedz is a mattresss that has custom cutouts to fit in the back wheel wells of a pickup truck bed. The mattress comes with an autoinflator. The company, created by Jim Pittman makes several different styles.
Unfortunately, at the time of his Shark Tank pitch, Jim pittman had substantial AirBedz inventory on hand. His sales for the previous year ran $210,000, but he anticipated doubling that for the following year.
Jim Pittman tells the Sharks that they are already in the automotive warehouse stores. The question is, why aren't the sales happening? Cost is $50-60 and he wholesales from $125-145, and retails $199 with four-hundred thousand dollars of inventory. He has $250,000 invested in the AirBedz business.
AirBedz Episode Data
- Company: AirBedz – Website
- Entrepreneurs: Jim Pittman
- Ask: $250,000 for 15% equity
- Episode Season 3 Episode 313
- Companies in this episode:
- Boot Illusions
- Villy Custom
- Show-No – Featured Update
- Mark Cuban
- Daymond John
- Kevin O'Leary
- Barbara Corcoran
- Robert Herjavec
- First Aired: 05/04/2012
- Deal: No Deal
What do the Shark Tank Investors say about AirBedz?
- Mark Cuban – tells Jim he needs to get out and start selling the inventory he has on hand. he is out.
- Daymond John – agrees with Robert and goes out.
- Kevin O'Leary – thinks the marketplace is too small, and is why Jim has the inventory. He is out.
- Barbara Corcoran – thinks the company needs a different salesperson, but she makes an offer of $250,000 for 50% equity. Jim Pittman counters at 25%, and she says no. She is out.
- Robert Herjavec – Does not believe the product is proven, so he is out.
AirBedz after Shark Tank
AirBedz is still offering their products for sale after Shark Tank. Jim Pittman did not like the reviews after Shark Tank and lawyered up, having the firm send some nasty emails and letters. He also ended up in lawsuits with another company that claimed to be the originator of the Air Mattress. I am unable to locate any factual outcome information, other than they are still selling.