DreamPad Shark Tank Update – Shark Tank Season 9
DreamPad began as a therapeutic sleep aid for children with autism and evolved into a consumer sleep-tech product praised for its calming, non-invasive audio delivery through bone conduction.
Randall Redfield, CFO and co-founder of Integrated Learning Systems, pitches his company’s hot product – the DreamPad in Shark Tank Season 9 Episode 8.
Check out other Shark Tank Season 9 Episodes.
About DreamPad
| Category | Details |
|---|---|
| Business Name | DreamPad |
| Founder | Randall Redfield |
| Industry | Home Accessories |
| Product | Pillows that play music through vibrations to help people sleep |
| Deal Status | No Deal |
| Investment Asked | $800,000 for 10% equity |
The DreamPad is a pillow that delivers music through vibrations in your inner ear when coupled with its smartphone app. Unlike playing music (or white noise) through a speaker, the music or sounds are literally pumped straight into your brain.
Integrated Learning Systems (ILS) is a company that trains therapists and educators to use sound and movement therapy techniques. They originally created the DreamPad to soothe autistic children.
Parents loved how well it worked and started asking for an adult version. In 2016, the company launched as a more mass-market product.
Each DreamPad comes with a pocket for a smartphone with a jack in it. The sound plays through your phone, or you can get an optional Bluetooth speaker. You can play your own music or use the app, which has ten songs “specifically engineered for deep sleeping.”
ILS did their research with several third-party research firms to gauge results on people with ADHD, Autism, PTSD & seniors and adults with stress-related sleep challenges. The product works, but makes no medical claims.
Each DreamPad sets you back $179. They’re available on Amazon or the company website. Mr. Redfield likely wants a Shark’s help with inventory and placement in retail outlets. Will a Shark dream big and invest?
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DreamPad Shark Tank Recap
Randall enters the Shark Tank seeking $800,000 for 10% of his business. He explains the product and asks the Sharks to come up and try it.
Mark and Lori came up to try it, and Bethany, Kevin, and Robert joined them. When they return to their chairs, Richard gives them samples.
Kevin is wondering about the $8 million valuation for a “pillow with a speaker in it.” Sales for the past calendar year were $600,000, and he was projecting $1.2 million for 2018. From those sales, the projected profit margin for the year was approximately $150,000.
The Sharks are unimpressed, and they aren’t buying Randall’s justification for his valuation.
Did DreamPad Get a Deal on Shark Tank?
Mark was unconvinced DreamPad was better than its competition; he’s out. Robert is next out, saying, “The valuation is nuts.” Kevin goes out too.
Bethanny is next out, citing the valuation. Lori is interested, but wants Randall to give her a better valuation. When he says he can’t go higher than 15%, Lori goes out too.
DreamPad Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. In April 2019, the company did a Kickstarter for “Dream Pad 2.0” and raised $75,258.
Unyte, Inc., a neurofeedback and relaxation tech company, acquired the company in 2019 for an undisclosed amount. Redfield remains with the company as part of the management team. You can find their products at Walmart, Bed Bath & Beyond, Amazon, and other stores.
As of November 2023, the estimated annual revenue is $6 million. After its acquisition and retail expansion, the estimated net worth of DreamPad is in the range of $8 million-$12 million.
Posts about DreamPad on Shark Tank Blog
Where Can You Buy It?
DreamPad pillows are available for purchase on their official website, Amazon, Walmart, and other stores. Check out their social media pages for more updates: Facebook and Twitter.
Quick Summary
- DreamPad is a pillow that plays music through vibrations to help users sleep more soundly, originally developed for children with autism.
- Randall Redfield pitched the product seeking $800,000 for 10% equity, but did not get a deal due to high valuation concerns.
- Despite no Shark deal, the company grew steadily and was acquired by Unyte, Inc. in 2019.
Curious to know about other businesses that appeared on the same episode? Check out their business updates!
