Everybody is into politics as the makers of Dreampad say “The Sharks think we overvalue the importance of good sleep. We politely Disagree.” The problem with that statement is the Shark Tank investors loved the Dreampad, but the valuation made it impossible for them to see a reasonable return on their investment.
Sharks Loved Dreampad during pitch
Again, the Sharks loved the Dreampad, which helped drive significant sales to the company after their episode. I am sure when Shark Tank airs on CNBC, that the deals will peak again given the Shark Tank effect.
Dreampad vibrates music directly into your ear through your pillow, allowing you to hear the music, without disturbing anyone else in the room. The Sharks experienced this when they all jumped into the bed on the set.
Four different styles of Dreampad exist, with two of them being a feather, and one is memory foam. The transducer delivers the music peacefully helping you to get a great night of sleep. It connects wirelessly to your phone through the app offering ten music choices as well as accessing your library.
The Dreampad sells online and has a thirty-day money back guarantee.
Entrepreneur: Randall Redfield
Ask: $800,000 for 10%
Episode: Season 9 Episode 8
Sharks: Mark Cuban, Bethany Frankel, Kevin O'Leary, Lori Greiner, Robert Herjavec
The Pillow runs average at $159, which he calls a relaxation tool. They have $600,000 in sales over the last half year, and he is projecting $1.2 million in sales through direct to consumer and Amazon. The company will make $120,000 on $1.2 million.
Randall and his partner have put in $1.25 million in the last five years.
What do the Sharks say about Dreampad?
- Mark Cuban says the challenge is you have to convince people that you are so far better than they are going to invest. He is out.
- Robert Herjavec claims his valuation is so far out there, so he's out.
- Bethany Frankel loves the product, but the valuation is so far out that she is out. She is so frustrated because he's so far off on the valuation.
- Lori Greiner asks him, what would you offer me to put this in the pillows that I already make. He comes back saying he can go up to 15%. Lori wants to be in with him, but she has to be out.
- Kevin O'Leary pounded the valuation, and he's out.