Techie + Gamers
    • Entertainment
    • Gaming
    • Tech
    • Social Media
    • About Us
    Techie + Gamers
    Home»Shark Tank»Yellow Leaf Hammocks Net Worth – Update After Shark Tank!
    Shark Tank

    Yellow Leaf Hammocks Net Worth – Update After Shark Tank!

    Techie GamersBy Techie GamersSeptember 8, 2023
    Yellow Leaf Hammocks

    When stressed, one of the best things to do is go outdoors, meditate, and relax your body. Yellow Leaf Hammocks, woven by the Mlabri tribe of Thailand, are the perfect option for these situations. The founders, Rachel Connors and Joe Demin, pitched their product on Shark Tank and got a deal with Daniel Lubetzky. As of 2023, Yellow Leaf Hammocks is worth $4 million.

    Founders’ Backgrounds

    Rachel Connors and Joe Demin are husband and wife, hailing from Los Angeles, California. Joe attended DePaul University to study finance and majored in real estate, graduating in 2006.

    After college, Denim was recruited into a property development business and worked there for several months. However, he was later forced to resign due to the financial crisis in 2008.

    Before this, his partner graduated with a degree in public relations and political science from the University of Florida. In 2007, she was a development intern at a PR agency called Girl About Town Communications.

    Founding Yellow Leaf Hammocks

    Denim and Connors went to Hawaii with the goal of empowering unprivileged people. Later on, the couple traveled to Thailand, where they went on a motorbike journey that took them to the best hammock weavers in the Mlabri tribe.

    When the pair returned home, they decided to start a business for people with fewer opportunities. So, they established Yellow Leaf Hammocks in 2011, producing hand-crafted cotton hammocks in various colors.

    To help their crafters, the duo cut out the middleman in their business model. Their product steadily gained traction in the market because of positive reviews, saying it’s high quality but low cost. By 2018, the company reported annual sales of $860,000.

    Shark Tank Pitch

    Joe and Rachel appeared on season 11 of Shark Tank in 2019. They requested $400,000 in exchange for a 7% stake in their company. Then, the founders explained the objectives and details of their hammock products to the Sharks.

    Billionaire Daniel Lubetzky was impressed with the product and offered them the money but for 33% equity. Lori Greiner and Robert Herjavec were also interested, so they named their own prices

    The three investors were very eager to invest in the hammock company, so they kept changing their offers. It ended when Daniel offered $1 million for 25% equity, which the entrepreneurs couldn’t say no to.

    Update After Shark Tank

    Before Shark Tank, Joe and Rachel partnered with Virgin Cruise Lines for overseas transactions. Moreover, the deal between the founders and Daniel Lubetzky was a success. The celebrity investor was very vocal in his enthusiasm to help the startup.

    However, they were deeply affected by the pandemic as the company’s cruise ship sales fell to their lowest point because transportation inside and outside of every country was limited.

    The company sells through Amazon, where they continue to receive five-star reviews for how comfortable their hammocks are. Now that the economy is steadily recovering and so is Yellow Leaf Hammocks. It is currently making $1 million annually and the business is worth an estimated $4 million.

    Share. Facebook Twitter
    Avatar photo
    Techie Gamers

    Started in 2017, Techiegamers is now home to over 500,000 visitors every month and has been featured on websites such as the LA Times, Yahoo, MSN and many more.

    Leave A Reply Cancel Reply

    Editors' Picks
    Top 20 Richest YouTubers Updated for 2023
    July 31, 2023
    Top 10 Most Successful Shark Tank Products
    September 3, 2023
    What Happened to Erik Per Sullivan? Dewey from Malcolm in the Middle
    June 13, 2023
    Techiegamers.com

    Email: [email protected]
    1968 S. Coast Hwy #675
    Laguna Beach CA 92651
    (949) 799-2165

    Facebook Twitter Instagram LinkedIn
    Popular posts
    • Diana and Roma Net Worth 2023: How Rich are the…
    • Scammer Payback (Pierogi) – his Wife, Net…
    • Scholly Net Worth 2023 – What Happened After…
    • Potty Safe Net Worth – Latest Sales and Shark…
    • Hajime No Ippo Season 4 – Latest Release Date…
    © 2023 TechieGamers LLC
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms of Use
    • DMCA
    • Ownership Policy
    • Fact Checking Policy
    • Careers

    Type above and press Enter to search. Press Esc to cancel.