Pluto Pillow is an amazing and innovative company that makes customized pillows for its customers based on their personal preferences. The company gathers each person’s personal information and statistics in an online survey on their online website.
The results of the survey are then put in an algorithm that generates a hybrid pillow customized specially for that particular person. Some of the most common features of the pillows are that they are soft, and have a solid foam core that provides the utmost comfort during sleep.
Pluto Pillow Net Worth
The net worth of the company Pluto Pillow is estimated to be around $8 million.
Pluto Pillow Founders
The founders of Pluto Pillow are Susana Saeliu and Kevin Li. Susana Saeliu is an entrepreneur and has prior experience in the field. She is also a graduate of the University of Southern California Marshall School of Business.
Susana, while working in the customer service of another company, saw that many of the pillows bought were being returned to the company because they were not suitable for the customers.
Additionally, when Susana was looking for a pillow for herself, she could not be satisfied with any of the pillows that the market offered. She sought her friend’s help i.e. Kevin Li, who himself faced the same problem.
Together, they came up with the idea of customized pillows that were tailored to suit each person’s needs, comforts, and preferences. The duo also consulted some sleep specialists, physical therapists, and customers to help them design the perfect algorithm.
Pluto Pillow During Shark Tank
The founders of Pluto Pillow, Susana Saeliu and Kevin Li, entered Shark Tank seeking $400,000 in exchange for a 5% stake in the company. They were also hopeful of finding a Shark who could cooperate with them and assist them in scaling the company.
The Sharks were impressed by the concept of the company i.e. making customized pillows for its customers. They were particularly impressed with the algorithm that the company used. However, what the Sharks were not impressed with was the valuation of the company, which was $8 million.
Due to this, Lori Greiner exited. Mark Cuban was also very hesitant as he did not trust the algorithm and the machine learning program that the company used, believing that the founders of the company were underutilizing the resources. Thus, he exited as well.
Kevin O’Leary thought that investing in the company could be dangerous, so he opted out of any deals. Robert Herjavec, though, shocked everyone by showing interest in investing in the company.
Robert Herjavec offered $400,000 in exchange for a 20% stake in the company. Susana and Kevin counter offered $400,000 in exchange for a 9% stake in the company, which Robert declined. In the end, Susana and Kevin left Shark Tank without any deal.
What Happened to Pluto Pillow After Shark Tank Deal?
Even though Susan and Kevin did not secure any deal with the Sharks, they continued to scale and expand their company themselves. Pluto Pillows now sells numerous new products in the market. It is also involved in the retail business.