During Shark Tank’s Season 12 Episode 24, Robert Herjavec invested $400,000 for 19% of Pluto Pillows startup. He also offered to help Pluto Pillow get where it wants to be in the future. It is unclear whether or not Robert’s offer actually resulted in a deal with Pluto Pillows.
Founded in Los Angeles in 2018, Pluto Pillows sells custom designed pillows. It offers a warranty on workmanship and material defects. It is manufactured from high quality materials such as polyester microfibers and foam. It has a foam inner core and a plush outer cover. Despite its high price, Pluto Pillows have received almost 1,500 five star reviews on Amazon.
The pillows are manufactured and delivered within seven days. They are custom made based on the customer’s sleep preferences. Users can choose from 35 different pillow designs on the Pluto website. The company offers a warranty that covers damage to fabric, torn stitches, and faulty zippers. Moreover, it has a 100-night return policy. This policy has been extended to 110 nights.
Before founding Pluto Pillows, Kevin Li worked at ecommerce firm Alibaba. He also has a successful start-up called Kora Brand, which marketed bamboo bath tissues. He also has a degree from the University of Southern California Marshall School of Business. His net worth is estimated to be $8 million in 2021.
Kevin and Susana originally wanted to fundraise for the company. Then they decided to take the company to Shark Tank. However, their pitch did not result in a deal. This is because the company asked for too much equity. They did not want to hurt their chances for future funding rounds.
They also did not like the valuation of the company. In fact, they wanted to get an $8 million valuation for the company, but the sharks did not agree with them.
Afterward, Kevin and Susan decided to go to the sharks again, this time focusing on the “smaller” thing. They came up with a better idea. They used social media advertising to create awareness about the product. They even offered free promotion through Shark Tank. This was not only a good idea, but it also worked.
After the Shark Tank, the company received a lot of media coverage. It also was featured in Gearpatrol Magazine. This article outlined a few of the company’s innovations. It also featured the same pillow that was featured on Shark Tank.
The company also launched Tradex Marketplace, a website where clients can leave reviews about the company’s products. The website also handles returns and refunds. Eventually, the founders sold Kora Brand and Pluto Pillows.
The company currently has two to ten employees. It is headquartered in Sherman Oaks, California. The company currently has an estimated net worth of $8 million. Its current revenue is around $5 million. The company is still in business as of September 2022.
The company has received funding from three major investors. These include 500 Startups, Lombardstreet Ventures, and K2VC. They have also received several seed funding rounds. The company’s main focus is on creating high quality pillows. They have a plush outer cover that is made of polyester microfibers. They also have a foam inner core and a warranty that covers fabric tears and faulty zippers.