What is Pluto Pillow?
Pluto Pillow is an American manufacturer of bespoke pillows. The company’s founders, Kevin Li, and Susana Salieu, came up with the concept of making a unique cushion for each customer. In 2023, Pluto Pillow net worth to be around $8 million.
|Kevin Li and Susana Salieu
|2 to 10
|Los Angeles, California, United States of America
|Pillows, Puff, and Pillow POD
|Pluto Pillow Net Worth 2023:
Kevin Li and Susana Saeliu are natives of Los Angeles, California. Susana has revealed that she is a graduate of the University of Southern California’s Marshall School of Business, but Kevin is not particularly outspoken about his personal history.
She started the bamboo bath tissue company Kora Brand after finishing her entrepreneurship education. She sold the firm in 2011 to launch a marketplace named TRADEX, Inc. when it became a big success.
She worked for her new company’s customer service division. She learned there that many purchasers of pillows requested refunds since the item wasn’t comfy for them. She collaborated with her friend Kevin when she came up with a solution for this.
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Susana and Kevin made an appearance on season 12 of the show to ask for $400,000 for a 5% equity stake in their business. With an $8 million value, it appeared that the marketers were more interested in getting publicity than in closing a purchase.
The Sharks were initially interested in adopting the device, but their interest waned when the creators learned the solution cost $95 with an $18 delivery fee. Daniel Lubetzky was concerned about the gross margin and if the company could grow.
Four panelists left the discussion one by one. Robert Herjavec ensnared everyone using Marvel while he offered $400,000 for 20%. The founders, however, felt that the fairness had become extreme and that they had left without agreeing.
Establishing Pluto Pillow
Together, they created a cushion that can be adjusted to a user’s preferences in terms of comfort, scheduling, and sleeping habits. While developing their product, they consulted with sleep experts and physical therapists.
The outcome was a pleasant foam with a polyethylene surface that can be altered in height and length. A polyester microfiber with adjustable thickness and quality is used to cover it.
They produce hand-crafted pillows that are particularly suited to the demands of the customer using a special algorithm on their website. After the company’s formal debut in 2018, it generated sales of $473,000 the following year.
Appearance on Shark Tank
In episode 12 of the show, Susana and Kevin asked for $400,000 in exchange for 5% of the firm. With an $8 million value, it was clear the business owners were more focused on garnering attention than closing a purchase.
The Sharks were originally interested in the invention, but their curiosity waned after the entrepreneurs disclosed that the gadget cost $95 plus $18 for delivery. Concerns regarding the business’s gross margin and ability to grow were held by Daniel Lubetzky.
The panel’s four members left one at a time. When Robert Herjavec offered $400,000 for 20%, everyone was taken aback. The founders, however, thought the stock was excessive and left without concluding a contract.
After Shark Tank
Before Shark Tank, Pluto Pillow mostly used social media and innovative PR strategies to market their company. After the program aired, PlutoPillow.com had a large increase in traffic and new orders.
Later, the business raised money in three rounds, with K2VC, 500 Startups, and Lombardstreet Ventures serving as the round’s lead investors. On their main website and Alibaba, they were able to launch 35 various varieties thanks to this.
Despite selling a costly product, it has approximately 1,500 five-star ratings on Amazon, proving that the customized design is effective. Pluto Pillow presently generates around $5 million in sales annually and is valued at about $8 million.
In May 2021, the business wrote a blog post outlining what transpired in the program and the reasons they were unable to accept Robert’s offer. Pluto Pillow, it turns out, already had other investors on board and didn’t want to have a negative influence on further investment rounds.
How much money is generated by merchandise for Pluto Pillow?
Pluto Pillow has a dedicated website where it sells all of its goods and makes money. Every pillow is made by the business, and each one costs $110. Additionally, it creates a personalized cushion that a person requests.
The firm has little trouble producing more than $50,000 each month. Additionally, the organization keeps the price range as low as possible to make it easy for individuals to purchase them.
Pluto Pod, Pluto Puff, and Pluto Bedding are further recent releases from Pluto Pillow. It is brand-new on the market right now.
Pluto Pillow Net Worth & Income 2023
In 2023, Pluto Pillow’s net worth is around $8 million.
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