Pluto Pillow Net Worth: As of 2023, Pluto Pillow’s estimated value stands at approximately $8 million.
Pluto Pillow crafts custom-made pillows, proudly made in the USA. The brainchild of Kevin Li and Susana Salieu, the company was born from their idea to create personalized cushions for every individual. As of 2023, Pluto Pillow’s estimated value stands at approximately $8 million.
About Pluto Pillow Founders
Kevin Li and Susana Saeliu hail from Los Angeles, California. Susana has disclosed that she is an alumna of the University of Southern California’s Marshall School of Business, while Kevin tends to keep his personal history more private and doesn’t share extensive details about it.
After completing her entrepreneurship education, she founded the bamboo bath tissue company, Kora Brand. In 2011, she sold the company to venture into a new venture. Riding on the success of her previous endeavor, she launched a marketplace called TRADEX, Inc.
She joined the customer service division of her new company, where she discovered a common issue: many customers were seeking refunds for pillows that didn’t meet their comfort expectations. To address this challenge, she teamed up with her friend Kevin to devise a solution.
Susana and Kevin entered the spotlight during Season 12 of the show, seeking $400,000 for a 5% equity stake in their business. Despite their company being valued at $8 million, it seemed that their primary focus was on gaining publicity rather than securing a deal with the investors.
One by one, four panelists exited the discussion. Robert Herjavec, using Marvel as an analogy, captured everyone’s attention as he proposed a deal: $400,000 for a 20% stake. Despite the enticing offer, the founders felt that the terms had become too extreme, and ultimately, they left the negotiation without reaching an agreement. Also you will love to read: Ilan Tobianah Wikipedia, Net Worth 2023, Career, Family, Biography
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Establishing Of Pluto Pillow
Collaboratively, they designed a pillow that could be customized to meet users’ preferences for comfort, schedule, and sleeping habits. Throughout the product development process, they sought guidance from sleep experts and physical therapists.
The result was a comfortable foam with a polyethylene surface that can be adjusted in both height and length. It is covered with a polyester microfiber that offers customizable thickness and quality.
They craft handmade pillows tailored to each customer’s specific preferences using a special algorithm on their website. Following the company’s official launch in 2018, it achieved sales of $473,000 in the subsequent year. Also you will love to read: Soupergirl Net Worth (2024), Shark Tank Update
Pluto Pillow Sales Revenues
When Pluto Pillow appeared on Shark Tank, their annual sales were $430,000. The exposure from the show had a significant impact, causing their sales to skyrocket. Additionally, the increased visibility garnered substantial interest from venture capitalists, further contributing to the company’s growth and success.
In the year following the Shark Tank episode, Pluto Pillow experienced a remarkable growth in sales revenues, reaching $2.9 million. Currently, the company achieves monthly sales of $370,000. It’s noteworthy that Pluto Pillow is heavily reinvesting a significant portion of its revenues into Research and Development (R&D), resulting in relatively low profit margins at present.
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Pluto Pillow Salary Expenditure
With Pluto Pillow now generating substantial revenues, the two founders have begun paying themselves a salary of $125,000 each. Currently, the company employs 8 full-time staff members, contributing to a total annual salary expense of $430,000.
Appearance On Shark Tank
In episode 12 of the show, Susana and Kevin sought $400,000 in exchange for a 5% stake in the company. With an $8 million valuation, it became evident that the entrepreneurs were prioritizing publicity over securing a deal.
The Sharks initially showed interest in the invention, but their enthusiasm dwindled when the entrepreneurs revealed that the gadget had a cost of $95, plus an additional $18 for delivery. Daniel Lubetzky expressed concerns about the business’s gross margin and its potential for growth.
One by one, the four members of the panel exited. When Robert Herjavec proposed $400,000 for a 20% stake, it surprised everyone. However, the founders believed the equity offer was too high, and they left without reaching a deal.
After Shark Tank Pluto Pillow
Before appearing on Shark Tank, Pluto Pillow primarily relied on social media and innovative PR strategies to promote their company. Following the airing of the program, PlutoPillow.com experienced a significant surge in traffic and received a substantial number of new orders.
Subsequently, the business secured funding through three rounds, with K2VC, 500 Startups, and Lombard Street Ventures leading the respective rounds. This financial support enabled them to launch 35 different varieties, which are available on their main website and Alibaba.
Despite offering a higher-priced product, it boasts around 1,500 five-star ratings on Amazon, demonstrating the effectiveness of their customized design. Currently, Pluto Pillow achieves approximately $5 million in annual sales and holds a valuation of about $8 million.
In May 2021, the company published a blog post detailing their experience on the show and explaining why they couldn’t accept Robert’s offer. It was revealed that Pluto Pillow already had existing investors and wanted to avoid any potential negative impact on future investment rounds.
How Much Money Generating Pluto Pillow
Pluto Pillow operates a dedicated website where it sells its products and generates revenue. Each pillow crafted by the business is priced at $110. Furthermore, the company specializes in creating personalized cushions tailored to individual requests.
The company consistently generates over $50,000 per month with ease. Moreover, it strives to maintain an affordable price range, ensuring accessibility for individuals looking to make a purchase.
Pluto Pillow has recently introduced new products, including Pluto Pod, Pluto Puff, and Pluto Bedding. These offerings are currently brand-new in the market.
Pluto Pillow Instagram
Frequently Asked Questions
Is Pluto Pillow Successful?
Pluto Pillow left Shark Tank without securing a deal, which might have been disappointing at the time. Nevertheless, reports indicate that their product received positive feedback from the audience, and the company has since become profitable.
Who is the founder of Pluto Pillow?
Pluto Pillow was established and led by Susana Saeliu, driven by the vision to design a pillow that not only prioritized comfort and durability but also facilitated high-quality sleep without compromise.
What is Pluto Pillow made of?
As per the information provided on their website, Pluto Pillow is crafted using Tencel fabric derived from eucalyptus. This material is designed to enhance the quality of sleep without making any compromises. The pillow is also available in customizable sizes.