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Shark Tank aims to give new entrepreneurs a global platform to scale their businesses, by pitching their ideas and showing the judges their value. Should the judges see merit in these plans, they fight each other to grab the best investment opportunities, allowing them to hold important shares in the companies. The show was conceptualized and released in 2009 and continues to this day, with several spinoffs in different countries.
In season 9 of Shark Tank, one of the businesses that gained a lot of attention was Dream Pad by Randall Redfield. Noticing the big gap in the "comfortable sleep" market, Redfield developed a smart pillow that plays "sounds and music." Unfortunately, the Sharks didn't invest in it.
Fans have been curious to know how this product has faired since. The company was started in 2007, and Dream Pad 2.0 was launched in 2019. It was acquired by Unyte. Inc in the same year. Products are available across e-commerce platforms.
Shark Tank: Dream Pad makes it in the market
Shark Tank season 9 episode 8, featured Randall Redfield who walked onto the show to pitch his business to the sharks, hoping they would find merit in it and offer him a sizeable investment. However, although they were fascinated by Dream Pad, they felt like its valuation was off.
Randall asked for them to invest $800,000 for a 10% share in Dream Pad. The sharks weren't convinced of its scalability and profitability and backed off.
The product was offering a high-technology pillow that would promote better sleep, by playing sounds and music. It comes with a "pocket for the phone," or can also be paired with "bluetooth speakers." This music, through vibrations, is fed into the brain of the listener, instead of the regular music experience with uncomfortable earphones.
This Dream Pad pillow was created by ILS or Integrated Learning Systems. They're an organization that focus on "sound and movement techniques" to help "therapists" and "educators" help improve the sleep of vulnerable groups, including those with Autism, ADHD, PTSD, and more.
It also comes with an application that has 10 pre-recorded songs on it that boost the quality of sleep. This pillow also became a product for a wider audience to use and was embraced by the market when it was repackaged as Dream Pad 2.0.
Randall Redfield invested over $75,000 into a "Kickstarter" project, to boost the market standing of this rendition, Dream Pad 2.0. It then got taken over by Unyte Inc. in April 2019.
The pillows are priced at approximately $179 and are widely available on e-commerce websites and in stores like Walmart, Amazon, Bed Bath & Beyond, among others.
As per the show's official blog, the company's "annual revenue is $6 million" from analysis that took place in November 2023.
Apart from his pillow, Randall Redfield has taken to several platforms to promote his innovation, before and after his appearance on the show. He's been featured in ads, newspapers, magazines, among other things.
Shark Tank is currently in its fifteenth season and episode 8 will be packaged and ready to watch on December 8, 2023. It can be watched in real-time on ABC at 8 pm ET and can also be streamed from the following day on Hulu.
The upcoming episode is expected to bring with it lots of "holiday cheer" and four passionate entrepreneurs.
