What Happened to The Sleep Styler After the Shark Tank Pitch?
What is The Sleep Styler?
The Sleep Styler is a revolutionary new night-time hair curler that saves you time, protects your hair, and produces magnificent results.
The Sleep Styler is constructed of absorbent memory foam and is intended to be worn to bed in order to wake up with beautiful wavy hair.
The system’s heart is a memory foam tube covered in moisture-wicking microfiber. Simply shampoo your hair, lay it flat or curl it around the tube, secure it with the strap, and sleep.
Without the use of harsh blow dryers, your hair is dried and groomed in the morning.
Who is the Founder of The Sleep Styler?
The Sleep Styler was created by Dr. Tara Brown, a mother of two and a 15-year ophthalmologist.
Tara received her medical degree from Tulane University and finished her residency in ophthalmology at the University of California before founding The Sleep Styler.
Tara is currently practicing as an ophthalmologist.
Tara, a busy mother and physician, was constantly pressed for time to style her naturally frizzy hair each morning, and she was fed up with the way chemicals and heat damage were affecting her hair.
Tara was removing a braid from her daughter’s moist hair when the idea for The Sleep Styler occurred to her.
She saw how wet hair retained its shape during drying and imagined a product that could style your hair as you slept.
Tara was fully aware that the product she envisioned would need sewing skills, which she lacked.
Tara addressed this by enrolling in part-time fashion school while continuing to practice ophthalmology until she felt ready to begin manufacturing her product.
Tara’s Kickstarter campaign collected more than $47,000 in less than 24 hours, surpassing her $10,000 goal.
Hair retains its form as it dries. The Sleep Styler is used in this method to style hair.
Numerous awards, including the Fox San Diego Inventor’s Day 2015 and the Best in Show Award at the 2015 Direct Response Expo, have been conferred onto the product.
What Happened to The Sleep Styler at the Shark Tank Pitch?
Tara opened her presentation with a video of The Sleep Styler’s audition.
She mentioned that she lived with her spouse and two children in a three-bedroom home. She, like her husband, was a physician.
The public, she asserts, is unaware of the difficulty women face in getting ready in the morning.
She emphasized that you’d need to budget for hair, makeup, and getting the children ready in the morning.
Tara was convinced she had devised a solution that would address an almost universal demand among women.
Tara appeared on Shark Tank in the hope of receiving $75,000 in exchange for a 20% ownership in her business. This amounts to a $375,000 valuation
She educates the Sharks about her goods, performs demonstrations, and hands out samples.
Kevin enquired about her profit margins. Tara reported that two months prior, she launched a Kickstarter campaign.
She met her $10,000 funding goal within 24 hours and completed the transaction for $47,000.
That was more than four times what she had set out to do. She sold $6000 worth of things only on her website following the Kickstarter campaign’s conclusion. That’s not bad for a sales period of barely three weeks.
Tara explained that the eight-pack sold for $39 but cost her only $9.94 to make.
Lori enquired as to the amount of money Tara had invested, and Tara disclosed that she had invested $100,000 of her own money.
Robert confronted Tara with the topic of why she need the $75,000 in the first place. She asserted that she was capable of investing the cash on her own, but desired the business acumen of a Shark.
Lori expressed gratitude with the outcome. She compared it to a luxurious ultra-suede that she wishes she could sleep in. She believed it was an excellent suggestion.
Lori expressed an interest in it and claimed that she would make a reasonable offer. She expresses her regret to the remaining Sharks.
Lori made Tara an offer of $75,000 in exchange for a 30% stake. She believed it would make an excellent QVC product.
She stated that all she desired was for Terry to say yes immediately.
Tara cautiously questioned whether she might make a counter-offer.
Robert urged her to take the plunge, noting that he had never seen Lori so enthused about a product.
Tara inquired as to Lori’s willingness to reduce her royalty to 25%. Lori examined it as she sat at her desk, her notes in front of her.
Finally, she consented, and the two rose to their feet to embrace one another.
What Happened to The Sleep Styler After the Shark Tank Pitch?
Within 24 hours of the Shark Tank episode airing, the Sleep Styler generated $1.5 million in sales!
After just eight months, Sleep Styler had racked up $75 million in total sales, making it one of the most popular products on the Shark Tank show.
Lori Greiner, an investor, was instrumental in ensuring that the Sleep Styler was made available on QVC as promised.
It was quickly sold out once it went on sale. Walmart and Bed, Bath & Beyond also carried it.
In late 2017, Greiner acquired Brown’s manufacturing and distribution rights for the Sleep Styler. Greiner’s firm is now completely responsible for the management of the business.
Brown profited from this since it freed her time for her ophthalmology practice and family.
This is one of the top ten goods ever featured on Shark Tank. As of June 2021, the company’s cumulative sales will exceed $150 million.
What is the Net worth of The Sleep Styler?
Tara appeared on Shark Tank in the hope of receiving $75,000 in exchange for a 20% ownership in her business. This amounts to a $375,000 valuation.
Shae accepted Lori’s offer of $75,000 in exchange for a 25% ownership, bringing the total price to $300,000.
Given the company’s success, the current valuation must be higher than the one on Shark Tank.
Who are the Competitors of The Sleep Styler?
Tifara Beauty Hair Rollers and Aimin Hair Soft Light Rollers are two items that are comparable to The Sleep Styler.
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The Sleep Styler FAQS
What does The Sleep Styler consist of?
The Sleep Styler is constructed of absorbent memory foam and is intended to be worn to bed in order to wake up with beautiful wavy hair.
Who is the founder of The Sleep Styler?
Tara Brown is the founder of The Sleep Styler.
When did The Sleep Styler launch?
The Sleep Styler launched in July 2013.
How much does The Sleep Styler cost?
Eight-pack sold for $39 but cost her only $9.94 to make.
Is The Sleep Styler available for international shipping?
The Sleep Styler is already available in a number of countries.
Where can they purchase The Sleep Styler?
The Sleep Styler is available from their Official Website, amazon, Walmart and Bed, Bath & Beyond.
How much was Dr. Tara Brown seeking in the Shark Tank?
Tara Brown sought $75,000 in exchange for a 20% ownership in her business. This amounts to a $375,000 valuation.
How much did they received from the Sharks?
Lori Greiner offered $75,000 in exchange for 25% ownership. Total valuation: $300,000
What Happened to The Sleep Styler after the Shark Tank?
Within 24 hours of the Shark Tank episode airing, the Sleep Styler generated $1.5 million in sales!
After just eight months, Sleep Styler had racked up $75 million in total sales, making it one of the most popular products on the Shark Tank show.
Is The Sleep Styler still in business?
Yes, as of June 2021, the company’s cumulative sales will exceed $150 million.
