There have been numerous kid-friendly goods featured on “Shark Tank” over 14 seasons. Space Traveler is ideal for every guardian who went through the dreadful task of attempting to amuse children on a protracted vehicle drive. The Space Traveler is a contraption that physically divides rowdy children from one another and resembles a canvas tent.
Was it accepted by the customers? Follow the article to know about the company and its Shark Tank debut.
About the Founder
Moms are always right about their intuition and know what’s best for their children. The Space Traveler idea was presented on Shark Tank by the two mompreneurs Krissy Pruke and Rachel Lincoln. When they were preventing their children from debating in the car, they came up with this concept.
Space Traveler was brand-new at the time of their Shark Tank appearance. Earlier, they founded Bright Idea Designs, and in 2013, they released their debut item, the Sleepyheadz sleep mats and cushion.
Founding the Space Traveller
Now that you have a Space Traveler installed on your back seat, parents may drive without feeling anxious. This is because the invention, which is essentially a compact car seat separator, keeps kids away and stops them from bickering and annoying one another.
But through the mesh window, children can gaze outside. They can keep things like snacks or games that will keep them occupied in their seats.
Shark Tank Appearance
The Space Traveler was featured on Shark Tank in January 2020. The presentation was particularly intriguing because Krissy and Rachel lacked their enterprise functioning properly anymore. They merely had an early version, of which no actual products had yet been marketed.
The Space Traveler team, as reported on Pinoy Money Talk, went on Shark Tank and offered 33.3% of their company in exchange for $100,000 in financing. They assured the Sharks that $39.95 is the authorized retail cost for the company.
The majority of sharks were not overly enthused about committing to an entity that lacked sales data to determine its value. However, Barbara Corcoran had a different opinion and wished to assist. Although they received the money they requested, Barbara also anticipated receiving $2 in royalties for each sale.
The revenue payment would ultimately cease when Barbara received her whole contribution back. Since they were aware of their need for such an experienced companion, the two mothers yelled out a hearty “yes” to the bargain.
After Shark Tank
The two best friends’ business began manufacturing at some point in 2020, and based on reservation sales, it appeared that there was plenty of demand. In August 2020, they started shipping their initial orders.
They redesigned the product to make it suitable for use in air travel, yet another interesting development. Of course, this demands laborious procedures to obtain appropriate safety consent.
Despite the sale, their business is still not an international success and is currently thought to be valued at about $500k.
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