Hug Sleep Shark Tank Update

Hug Sleep Shark Tank Pitch

Angie Kupper and Matt Mundt appeared on Shark Tank Season 12, Episode 3, which aired on October 30, 2020, with wearable blanket that provides a comforting sleep..

Hug Sleep is listed in the Lifestyle Home category. In plain terms, the business is described as wearable blanket that provides a comforting sleep..

Hug Sleep asked the Sharks for $150,000 for 10%, implying a valuation of about $1.5 million.

On the show, Hug Sleep made a listed deal with Mark Cuban and Lori Greiner for $300,000 for 20%.

If treated as straight equity, the listed deal works out to about $1.5 million implied valuation, roughly the same implied valuation as the ask.

This pitch is included as context for the more important question: what happened after Shark Tank.

Hug Sleep After Shark Tank

Hug Sleep accepted an on-air Shark Tank deal for $300,000 for 20%. Later reporting says the deal closed after filming. (Hug Sleep Shark Tank Update

Hug Sleep was reported at about $4 million in sales. (Hug Sleep Shark Tank Update

In March 2021, Hug Sleep introduced the Sleep Pod Move, a sleep pod you can slip your feet out of the bottom (Robert would have liked that). (Hug Sleep Shark Tank Update

Hug Sleep later appeared in a Season 12 update segment that covered how the company handled the post-show rush. (Hug Sleep Shark Tank Update

Hug Sleep now uses hugsleep.com as its customer-facing site. (Hug Sleep website

Sources

Sources used for this page: Shark Tank API pitches