| Information | |
|---|---|
| Net Worth | $13 million |
| Founding Date | 2018 |
| Country | United States |
| Category | Business |
| Founder | Susana Saeliu, Kevin Li |
In the quest for the perfect night’s sleep, many individuals have sought the ideal pillow that suits their unique sleeping style. Pluto Pillow, a company founded by Susana Saeliu and Kevin Li, recognized the need for customized pillows and embarked on a mission to provide tailored solutions. While their journey on Shark Tank may not have resulted in a deal, Pluto Pillow has made significant strides in the sleep industry. In this article, we’ll explore Pluto Pillow’s net worth, its journey from inception to post-Shark Tank, and the products that have garnered attention from sleep enthusiasts.
About the Company
Pluto Pillow, headquartered in California, was established by Susana Saeliu and Kevin Li. Susana, a graduate of the University of Southern California – Marshall School of Business, has a successful entrepreneurial background. She previously founded Kora Brand, a bamboo bath tissue provider, which she later sold to create TRADEX, Inc. Pluto Pillow emerged from Susana’s realization that many pillow buyers were dissatisfied with their purchases due to discomfort. This led to her collaboration with Kevin Li to develop a customizable pillow that caters to individual sleeping patterns, schedules, and comfort preferences.
Founders
Susana Saeliu and Kevin Li, the visionaries behind Pluto Pillow, recognized the need for a pillow that adapts to the sleeper’s requirements. Their combined expertise and commitment to solving this common sleep issue culminated in the creation of Pluto Pillow.
Products
Pluto Pillow offers a range of customized pillows designed to provide the ultimate comfort and support for a good night’s sleep. These pillows are made using a unique algorithm that considers the buyer’s sleeping pattern, comfort level, and other factors. The core material consists of comfortable foam that can be adjusted in height and length, while the surface is made of polyethylene. The pillow is covered with a customizable polyester microfiber that varies in thickness and quality. This personalized approach to pillow design has garnered praise from customers, as indicated by nearly 1,500 five-star reviews on Amazon.
In addition to their flagship Pluto Pillow, the company has expanded its product line to include PUFF, POD, and bedding, offering a comprehensive sleep solution for its customers.
Shark Tank Appearance
Susana and Kevin took their innovative product to the Shark Tank in Season 12, seeking a $400,000 investment in exchange for a 5% equity stake in their company, valuing Pluto Pillow at $8 million. While the Sharks were initially intrigued by the product, their enthusiasm waned as they learned more about the business.
Concerns arose regarding the product’s cost, with a price tag of $95 and an additional $18 shipping fee. Daniel Lubetzky, one of the Sharks, expressed doubts about the gross margin and the company’s scalability. Ultimately, four of the Sharks opted out of the deal.
Robert Herjavec, however, surprised everyone by offering $400,000 for a 20% equity stake, which the founders deemed too high. As a result, they left the Shark Tank without a deal.
Shark Tank Aftermath
Although Pluto Pillow did not secure a deal on Shark Tank, the show provided a significant boost to their visibility and sales. After the episode aired, it drove a surge in traffic and new orders on their website.
The company leveraged this momentum to launch three funding rounds, securing investments from venture capital investors such as K2VC, 500 Startups, and Lombardstreet Ventures. This infusion of capital allowed them to introduce 35 different variations of their pillows on their official website and Alibaba.
Net Worth
As of 2023, Pluto Pillow has an estimated net worth of $13 million. The company generates an annual revenue of $4 million, with monthly sales averaging $370,000. Monthly expenses amount to $300,000, reflecting the cost of running a growing business. Pluto Pillow has achieved lifetime sales of $11 million and currently employs a team of eight individuals.
Conclusion
Pluto Pillow, born out of a desire to provide personalized comfort to sleepers, has made remarkable strides since its inception. While the founders’ journey on Shark Tank did not result in a deal, their determination and commitment to delivering a quality product have paid off. With an estimated net worth of $13 million and a growing customer base, Pluto Pillow continues to make its mark in the competitive world of sleep products. As they expand their product line and enhance customization options, Pluto Pillow remains dedicated to helping individuals achieve their best night’s sleep.
FAQs
Is Pluto Pillow successful?
Yes, Pluto Pillow is considered successful. Despite not securing a deal on Shark Tank, the company generates around $5 million in annual revenue, maintains profitability, and has received positive customer reviews. They have expanded their product offerings and secured investments, demonstrating their ability to thrive in the market.
Who owns Pluto Pillow?
Susana Saeliu is the founder and CEO of Pluto Brand, Inc., the company that owns Pluto Pillow.
Did a shark invest in Pluto Pillow?
Yes, a Shark did make an investment offer to Pluto Pillow on the television show Shark Tank. Robert Herjavec offered $400,000 for a 20% equity stake in the company. However, the founders declined this offer, so ultimately, they did not secure a deal with any of the Sharks.
Who is Pluto Pillow competitor?
Pluto Pillow has several competitors in the custom pillow market. Some of its top competitors include:
- Scent Pillows: Scent Pillows is a competitor offering custom pillows and is likely in the same price range as Pluto Pillow.
- Custom Cushions: Custom Cushions is another competitor specializing in customized cushion products, which can include pillows.
- Abraham Design Workroom: Abraham Design Workroom is a company that offers custom design and manufacturing services, including pillows and cushions.
- Cushion Clearance: Cushion Clearance is a competitor that likely focuses on providing discounted or clearance pillows and cushions.
- Welcome Pillows: Welcome Pillows is another competitor in the custom pillow market, targeting a similar customer base.
These competitors may offer different features, styles, or price points, giving consumers a range of options to choose from when looking for customized pillow solutions.
Featured Image Credits: MediaNews Group/ Los Angeles Daily News via Getty Images
