Finding the right pillow can be frustrating. Pillows that feel comfortable in the store often lose their support after a few nights of use. This inspired Los Angeles-based entrepreneurs Susana Saeliu and Kevin Li to create Pluto Pillow, a company that uses a patented algorithm to custom-make pillows for each customer’s unique needs. After appearing on Shark Tank in 2020, Pluto Pillow has continued to thrive, now boasting an estimated $8 million net worth.
Who is Pluto Pillow?
Pluto Pillow is an online business that sells custom-made pillows tailored to each customer’s sleep position, body type, and personal preferences. Founded in 2018 by Susana Saeliu and Kevin Li, the company uses data from sleep experts, physical therapists, and customer feedback to design the perfect pillow for every individual algorithmically.
Who Is The Founder Of Pluto Pillow?
Susana Saeliu and Kevin Li are the co-founders of Pluto Pillow. Saeliu has a background in entrepreneurship, having previously founded and sold a successful bamboo tissue paper startup called Kora Branda. She then launched an online marketplace called TRADEX, Inc. Through her customer service experience, Saeliu identified the need for a more personalized pillow solution. She teamed up with her friend Kevin Li, whose technical expertise helped them develop Pluto Pillow’s patented customization process.
How Was The Shark Tank Pitch Pluto Pillow?
Pluto Pillow appeared on Shark Tank in 2020, seeking a $400,000 investment for a 5% equity stake. The founders presented their custom pillow model, which the Sharks were initially impressed by. However, concerns arose over the product’s $95 retail price and $18 shipping fee, resulting in a slim profit margin.
Additionally, the Sharks questioned whether the business was unique enough to stand out in the highly competitive sleep products market. The Sharks backed out one by one until only Robert Herjavec remained. He offered $400,000 for 20% equity, but Saeliu and Li felt the equity ask was too high and ultimately declined the deal.
| Entrepreneurs | Susana Saeliu and Kevin Li |
|---|---|
| Business | Customizable pillow company (Pluto Pillow) |
| Ask | $400,000 for 5% equity |
| Valuation | $8 million |
| Result | No deal |
| Sharks | Robert Herjavec offered $400,000 for 20% equity |
| Other sharks (Lori Greiner, Mark Cuban, Daniel Lubetzky, Kevin O’Leary) declined to invest |
Pluto Pillow Shark Tank Update:
Despite leaving Shark Tank without a deal, Pluto Pillow has thrived for years. The founders reported that in the hours after their episode aired, they received over 2,000 orders, quickly overwhelming their operations. This initial surge in demand laid the groundwork for impressive growth in the following years.
Pluto Pillow has since raised funding from several venture capital firms, including K2VC, 500 Startups, and Lombard Street Ventures. This has allowed the company to expand its product line to 35 pillow variations and enhance its marketing and fulfillment capabilities.
What Happened To Pluto Pillow After Shark Tank?
After the Shark Tank episode, Pluto Pillow experienced a significant boost in visibility and sales. The founders shared that within just a few hours of the episode airing, they had sold over 2,000 pillows and were backordered for six weeks.
This momentum continued in the following months and years, with the company reaching an estimated $5 million in annual revenue by 2023. Pluto Pillow has also secured funding from several venture capital firms, allowing it to expand its product line and enhance its operations.
Pluto Pillow Net Worth:
As of 2024, Pluto Pillow is estimated to be worth $8 million. This valuation is a testament to the company’s impressive growth trajectory since its appearance on Shark Tank. Despite not securing a deal on the show, Pluto Pillow has been able to capitalize on the increased exposure and customer demand to become a thriving, profitable business in the highly competitive sleep products industry.
Pluto Pillow Growth and Operations:
Since its founding in 2018, Pluto Pillow has experienced remarkable growth. In its first full year of operation in 2019, the company generated $473,000 in sales. By 2023, Pluto Pillow was on track to reach $8 million in annual revenue. This growth has been fueled by the company’s ability to efficiently manufacture and ship its custom-made pillows and its focus on product innovation. Pluto Pillow now offers 35 different pillow variations, allowing it to cater to an even broader customer base.
| Product | Details |
|---|---|
| Standard Pillow | Retail: $95, Manufacturing: $25-$30, Shipping: $18 |
| Gross Margin | About 50% |
Pluto Pillow Marketing and Sales:
Pluto Pillow’s marketing and sales strategies have been crucial to its success. Before appearing on Shark Tank, the company relied heavily on social media and creative PR campaigns to attract customers. The exposure gained from the show further boosted their online presence and drove a significant increase in website traffic and sales. Pluto Pillow has also leveraged its strong customer reviews, with nearly 1,500 five-star ratings on Amazon, to build trust and credibility with potential buyers.
| Year | Sales |
|---|---|
| 2018 | $197,000 |
| 2019 | $473,000 |
| 2020 (mid-year) | $490,000 |
| 2023 (projected) | Eight figures (likely over $10 million) |
| Revenue | Approximately $5 million annually |
| Valuation (2024) | $8 million |
Pluto Pillow Social Media Presence:
Pluto Pillow’s robust social media presence has been instrumental in its growth. The company maintains active accounts on platforms like Instagram, Facebook, and Twitter, where they showcase their products, share customer testimonials, and engage with their audience. Pluto Pillow’s social media channels have helped to build brand awareness, drive website traffic, and foster a loyal customer community.
Pluto Pillow Interesting Facts:
- Pluto Pillow’s co-founders, Susana Saeliu and Kevin Li, have diverse entrepreneurial backgrounds. Saeliu previously founded a successful bamboo tissue paper startup.
- The company’s patented customization algorithm was developed with sleep experts and physical therapists to ensure optimal comfort and support.
- Pluto Pillow’s pillows have won over ten awards, highlighting the quality and innovation of their products.
- Despite not securing a deal on Shark Tank, Pluto Pillow has reached an estimated valuation of $8 million as of 2024.
What’s Next For Pluto Pillow?
Looking ahead, Pluto Pillow has ambitious plans to continue its growth trajectory. The founders have hinted at exciting new product launches and expanded marketing efforts in 2024 and beyond. With a strong brand, loyal customer base, and innovative product line, Pluto Pillow is well-positioned to solidify its position as a leading personalized sleep products industry player.
Final Words:
Pluto Pillow’s journey from a Shark Tank pitch to an $8 million net worth company is a testament to the power of perseverance and innovative thinking. Susana Saeliu and Kevin Li have built a thriving business that continues to disrupt the sleep products market by addressing a common pain point with a customizable solution. As Pluto Pillow looks to the future, it’s clear that this company is just starting its mission to help people sleep better, one custom pillow at a time.
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