Certainly, you desire a relaxing moment in a cozy hammock that offers a luxury sitting and lying down experience. You acquired one, but it did not last long. The quality ones are beyond your budget or uncomfortable. Your experience is what inspired Joe Demin and Rachel Connors.
The couple is the proprietors of Yellow Leaf Hammocks. They established a venture that offers hammocks for both indoor and outdoor purposes. Their weather-resistant products are made of high-quality yarn, making them versatile and durable. They are hand-woven in Thailand by a group of women from the Mlabri Tribe dubbed “the people of the yellow leaf.
Demin started his company in 2012 with a fund collected through a Kickstarter campaign. With a desire to grow, the couple decided to pitch their business on Shark Tank. They appeared on Episode 24 of Shark Tank Season 11, seeking $400 000 for 7% equity in Yellow Leaf Hammocks.
Did the Sharks agree to seal a deal with them? What happened to Yellow Leaf Hammocks after Shark Tank? Read on to get the answer and learn the current state of this venture.
- 1 Yellow Leaf Hammocks Overview in Shark Tank
- 2 What are Yellow Leaf Hammocks?
- 3 How Does Yellow Leaf Hammocks Work?
- 4 Who Founded Yellow Leaf Hammocks?
- 5 Yellow Leaf Hammocks Business before Shark Tank
- 6 Yellow Leaf Hammocks During Shark Tank Pitch
- 7 Yellow Leaf Hammocks Closing Deal in Shark Tank
- 8 Yellow Leaf Hammocks After Shark Tank
- 9 Current Update: Is Yellow Leaf Hammocks Still In Business?
- 10 FAQs about Yellow Leaf Hammocks
- 10.1 How much does the product cost?
- 10.2 What are Yellow Leaf Hammocks made of?
- 10.3 How do Yellow Leaf Hammocks help you?
- 10.4 Did Yellow Leaf Hammocks get a deal on Shark Tank?
- 10.5 Which Shark invested in Yellow Leaf Hammocks?
- 10.6 What is the net worth of Yellow Leaf Hammocks?
- 10.7 What are Joe Demin’s net worth and Rachel Connors’s net worth?
- 10.8 What is Daniel Lubetzky’s net worth?
- 10.9 Who owns Yellow Leaf Hammocks
- 10.10 Are Yellow Leaf Hammocks Durable?
Yellow Leaf Hammocks Overview in Shark Tank
|Company Name||Yellow Leaf Hammocks|
|Episode||Season 11 Episode 24|
|Product Offering||Hand-woven hammocks that are cozy, versatile and durable made by local artisans promote relaxation and impact society positively.|
|Founder||Joe Demin and Rachel Connors|
|Required Investment||$400,000 For a 7% stake in Yellow Leaf Hammocks|
|Closing Deal||$1 million For a 25% stake in Yellow Leaf Hammocks|
|Current Business Status||In business|
What are Yellow Leaf Hammocks?
Yellow Leaf Hammocks is a leading hammock company that focuses on enhancing relaxation while impacting society positively. The company deals with cotton hammocks hand-woven by Malbri Tribes in Thailand. The hammocks are attractive with different colors that amaze many customers.
The hammocks from this brand have gained popularity across the united states market. Their ultra-soft yarn, weather, mold, and rot resistance win many people’s hearts.
How Does Yellow Leaf Hammocks Work?
Like other hammocks, the Yellow Leaf Hammocks are for enhancing indoor and outdoor relaxation. You can use them on hammock chairs and beds to enhance your relaxation experience. Each hammock contains 150,000 woven loops that give it the ability to hold your weight effectively.
Who Founded Yellow Leaf Hammocks?
The founders of Yellow Leaf Hammocks are Joe Demin and Rachel Connors. Joe worked in the real estate industry before the 2008 economic crisis that forced him to resign. He moved to Hawaii and joined his wife in supporting disadvantaged communities while enhancing global pleasure.
In 2011, Joe flew to Thailand for a vacation. He decided to have a motorbike ride that landed him at an unexpected destination, which changed his life. Joe uncovered a comfy hammock behind a tiny bungalow. He wanted to share the news with people across the world.
Joe planned to get as many hammocks as possible and return home with them. However, he discovered a large number of weavers were experts in this field. Joe decided to help them improve their lives.
He flew back to the United States, and together with his wife Rachel, they co-founded Yellow Leaf Hammocks. The goal was to connect relaxation with positive social impact. The couple sort to help end the poverty cycle among Thai families while enabling Americans to cope with stress by improving their relaxation experiences at home.
Yellow Leaf Hammocks Business before Shark Tank
Demin started Yellow Leaf Hammocks with $11,400, a fund collected via a Kickstarter campaign. In 2019, he did another Kickstarter campaign dubbed Hammock Throne that raised over $235,000. The couple set up their company in San Francisco, California, and started selling the colorful hammocks sourced from Thailand artists who are members of the Mlabri Tribe.
These American entrepreneurs believed supporting the Thai community by connecting Americans’ pleasure experience with poverty eradication was a worthy mission. They wanted to harness their venture.
However, lack of enough capital was a limitation to the flourishing of their venture. This aspect inspired them to pitch the Sharks and see if they would be lucky to seal a deal with an investor.
Yellow Leaf Hammocks During Shark Tank Pitch
Joe and Rachel featured on Shark Tank Season 11 to present their hammock crafting business. They were seeking an investment of $400,000 for a 7% stake of the company’s equity. The duo opens their pitch with a narrative around their social business. They then jump into the data.
They present information showing that the business made $860,000 in sales in 2018 and will likely hit $1.3 million in 2019. The couple explains how they get the sales, stating they have two ways. One is via online sales, while the second line of sales is through strategic partners such as cruise companies.
The sharks are keen on details. Three of them decide to make offers to the couple.
Robert goes first to offer $400,000 for a 15% stake in the company. Lori offers $200,000 for a 7% stake in the firm. She also assures the couple that she will work hard to full fill all purchased orders.
Guest investor Daniel Lubetzky to the Shark Tank makes an exceptional offer of $1 million for 33% of the company. The couple feels uncomfortable with the offer stating that it’s more than what they need. Lori is back with a new offer of $200,000 for a 17% share in cash and $200,000 as credit with 7% interest. The couple does not feel amazed by this offer.
The Sharks start to convince the entrepreneurs to accept Daniel’s offer. Daniel promises to help the team in their mission. However, the team is not comfortable with a 33% share in the company. They presented a counter offer of $1 million for a 25% stake in Yellow Leaf Hammocks. Daniel agreed to this offer citing that he loves the couple.
Yellow Leaf Hammocks Closing Deal in Shark Tank
Joe and Rachel closed a deal with Daniel Lubetzky of $1 million for 25% equity of the firm. The deal was sealed.
Yellow Leaf Hammocks After Shark Tank
After the Shark Tank show, Daniel completed the deal with Yellow Leaf Hammocks. He released a press release showing the company listed on his website. However, Covid-19 affected its sales mainly through the cruise ship companies. Despite this, the company is still selling via Amazon.
The show also gave them broad exposure that helped boost their direct customers. Even with Covid-19, the company made over $1 million in sales in 2021.
Current Update: Is Yellow Leaf Hammocks Still In Business?
By writing this article, Yellow Leaf Hammocks is still in business. The effects of Covid-19 have impacted its sales levels. This is due to the restriction of movement and outdoor activities. Many cruise ships are not operating, impacting their strategic sales partner. However, their products are still available online via Amazon.
FAQs about Yellow Leaf Hammocks
How much does the product cost?
Yellow Leaf Hammocks offer hammocks in different sizes that attract different prices. The first option is a three-person outdoor hammock costing $199. The two-person indoor hammock goes for $199. One-person hammock chairs suitable for indoor and outdoor uses cost you $179.
The company is also planning to sell Hammock Throne, which is expected to sell at $2499. However, its preorders begin at $1999.
What are Yellow Leaf Hammocks made of?
Yellow Leaf Hammocks are products of hand-woven synthetic yarn that a mold and mildew resistant. They are also weather resistant meaning their vibrant colors will last for years.
How do Yellow Leaf Hammocks help you?
Yellow Leaf Hammocks sort to improve comfort and convenience when carrying a heavy weight on a backpack by combining a vest and backpack to spread the weight evenly across the body. The goal of this company is to enhance the pleasure experience among Americans while helping to end the poverty cycle in Thailand.
Did Yellow Leaf Hammocks get a deal on Shark Tank?
Yellow Leaf Hammocks left with a $1 million deal from Shark Tank. Their ignition investment request was $400,000 in exchange for a 7% stake in the company.
Which Shark invested in Yellow Leaf Hammocks?
Yellow Leaf Hammocks secured a deal with a guest invested in the Shark Tank called Daniel Lubetzky.
What is the net worth of Yellow Leaf Hammocks?
Yellow Leaf Hammocks’ net worth as of 2022 was estimated to be $4 million.
What are Joe Demin’s net worth and Rachel Connors’s net worth?
As of 2022, Joe and Rachel had a net worth of $3.5 million
What is Daniel Lubetzky’s net worth?
According to Forbes, Daniel Lubetzky has a net worth of $2.1 billion.
Who owns Yellow Leaf Hammocks
Joe Demin and Rachel Connors are the co-founders and owners of Yellow Leaf Hammocks. However, Daniel Lubetzky acquired 25% ownership after investing $1 million in the company. Hence, the co-founders have 75% ownership while Daniel has 25% ownership.
Are Yellow Leaf Hammocks Durable?
Yellow Leaf Hammocks are products of high quality and weather-safe materials. This aspect makes it comfortable, versatile, and durable.