Who doesn’t love good-quality baby clothing, right? Well, that’s what founders Brett and Stephanie Parker thought when they brought their company, Sleeping Baby on Shark Tank.
As the name suggests, the company sells comfortable and high-quality baby clothing that babies can wear and sleep in without feeling uncomfortable. The founders went on Shark Tank with hopes to raise investment of around $200,000 for their company.
With how exciting and adorable the project was, people have been wondering what Sleeping Baby is up to in the present date. More on that will be revealed in this article.
Shark Tank Sleeping Baby Update
- Entrepreneurs – Brett and Stephanie Parker
- Business – Baby Clothing
- Ask – $200,000 for 10% equity
- Results – $200,000 for 20% equity
- Sharks – Daymond John
Sleeping Baby came on the sixth season of Shark Tank and brought the company a lot of exposure there. During the time that they came on Shark Tank, the company had already been in business for quite some time and was doing quite well for themselves.
Breaking down the revenue and costs involved, the founders clarified that they were selling their product for $35 per item and had already made around $1 million in lifetime sales by that time.
The numbers and the profit margins that were involved with the brand and the products did leave the Sharks quite impressed. Also, what impressed the Sharks even more was the fact that Sleeping Baby was only available on their website and the revenue they generated was from their website only.
The founders, Brett and Stephanie also managed to impress the Sharks with their backstory, which gained traction and enabled them to land their first counter deal from Lori Greiner. Lori offered $200,000 for 25% equity, which did put the founders off a bit.
Since Kevin was also interested in being part of the venture, he offered $200,000 for 20%, countering Lori’s offer. Even Daymond John jumped in and offered the same amount as Kevin.
With so many offers on the table, founders Brett and Stephanie were quite in a pickle. The two Sharks that didn’t make an offer were Mark and Robert because they thought they wouldn’t be able to add value to the companies.
After discussing the offers they got, Brett and Stephanie approached Daymond, asking him if he would revise his offer and settle for 15%, to which he didn’t budge. So, they agreed to accept Daymond’s offer of $200,000 for 20% of the company.
Ever since the Shark Tank episode, Sleeping Baby has managed to stand out with their amazing business, especially involving the sales and the revenue they have generated until now.
They are still selling their products via their website and have become a multi-million dollar business. We don’t have any idea about the current annual revenue they are making since they haven’t released any public report about the same. But, with the way their business is thriving, it is safe to assume they are making millions.
