Highlights
- Rebecca Rescate, previously successful with CitiKitty, pitched the Hoodie Pillow—a pillowcase with a built-in hood designed for warmth and comfort.
- Despite initial skepticism, the Sharks were impressed by early sales figures and offered competitive deals.
- The company expanded its product line but eventually stopped selling the original Hoodie Pillow.
Overview
| Category | Details |
|---|---|
| Name | Hoodie Pillow |
| Founders | Rebecca Rescate, Chris Hindley, Dana Hindley |
| Industry | Consumer Products, Accessories |
| Product | Pillowcase with built-in hood and features |
| Funding | Information not provided |
| Investment Ask | $90,000 |
| Equity Offered | 15% |
| Valuation | TBD |
The Hoodie Pillow is a product sure to make Shark Tank history, not necessarily for the product, but for the entrepreneur presenting it to the Sharks. Rebecca Rescate, of CitiKitty fame, is the first entrepreneur to appear on Shark Tank a second time pitching a different product. Rescate made millions from CitiKitty since partnering with Kevin Harrington in episode 208 in season two. In episode 415, season 4, Rebecca introduces the Sharks and the world to her friends and partners, Chris and Dana Hindley, and their invention: the Hoodie Pillow. The Hoodie Pillow is billed as a personal “Cocoonification” accessory. It’s a pillowcase that fits standard sized pillows, made from sweatshirt material, with a built-in hood. The Hoodie Pillow has an oversized hood with a drawstring which provides extra warmth on those chilly nights. The hood also blocks out light and sound when pulled up over the ears and eyes. There’s even a little pocket for your iPod with a cable channel for ear buds!
The Hoodie Pillow Shark Tank Recap
Rebecca and Chris enter seeking $90k for 15% of the business. After the pitch, Daymond demonstrates the product on a couch set up for the presentation. The Sharks find the product a bit comical at first, until Rebecca tells them about the 3,000 sales they made in the first 8 weeks in business.
Did Shark Tank Invest In The Hoodie Pillow?
Kevin jumps in and offers $90k for a 33% with the caveat they all “cash out” at the same time. Chris counters with 25% for $100K, but good old Mr. Wonderful won’t budge. Daymond offers $90K for a third of the company and employs a ten second clock for a decision. Barbara then offers $90K for 40% plus a ten cent royalty, but only if Daymond goes in with her.
Daymond wants an immediate answer and Chris counters with $90K for 30%. Barbara asks if they’ll split the difference at 35%, but Rebecca stands firm on $90K for 20%. Robert soaks all this action up and offers $90K for 20%. He saw what Rebecca did with CitiKitty and he doesn’t want to miss out on Hoodie Pillow. Chris accepts Robert’s offer, and there are smiles all around!
The Hoodie Pillow Shark Tank Update
The Monday following the the original air date, Rebecca and Chris report over 4,000 units sold. They project 8,000 units for the month! The deal with Robert wasn’t finalized yet, but the parties were still “in talks.” The deal with Robert ultimately never closed. The company added pillow cases, kids pillows, inflatable pillows, memory foam hooded pillows, hooded beach towels, bags and kids’ Hoodie Pillows with animated characters on them. They no longer sell the version of the product that appeared on Shark Tank.
As of July, 2022, the company is still in business and earns $5 million in annual revenue.
Posts about the Hoodie Pillow on Shark Tank Blog
Hoodie Pillow Post Show Update
Company Information
More products from this episode! Check out other businesses that participated alongside The Hoodie Pillow.
When I heard them describe the product I thought the hoodie would be padded and still part of a sweater. Great, I wear a zip up sweater into the plane and when I get tired and want something padded to sleep on I put on the hoodie without having to shuffle around for a pillow and bother anyone. Nope, not what the product is. Now I have to carry an additional thing into the plane when I’m already taking in a carry-on because of baggage fees? No thanks. And it looks uber silly–both the full size and travel versions–without a sweater attached. The Sharks knew that right away and had laughs about it but suddenly forgot because they thought the lady had the personality to sell you air if she had to. Not buying it.
You do realize that it’s inflatable? So it takes up less space than a t shirt when in a carry on bag.
I love this. I have no doubt that this will be a huge hit ! The hoodie pillow is perfect for my 12 year old son. Looking forward to hearing how many hundreds of hoodies will be sold in the next year.
More like how many hundreds of thousands……