Yellow Leaf Hammocks produces and distributes hammocks that are designed to scale relaxation and positively impact society. They specialize in colorful, high-quality cotton hammocks woven in Thailand by Mlabri tribe members.
Since Yellow Leaf Hammocks products entered the market, they have become very popular, especially for their soft fibers, mold and rot resistance, weather resistance, and 3-way weave design.
|Full Name||Yellow Leaf Hammocks|
|Founded by||Rachel Connors and Joe Demin|
|Company Based on||Distributes hammocks|
|Official Amazon Store||Yellow leaf hammocks|
|Yellow Leaf Hammocks Net Worth||$4 million (Last Updated 2022)|
Yellow Leaf Hammocks Net Worth
During the Shark Tank presentation, the company had a valuation of $5.7 million, but after Daniel Lubetzky invested, it was worth $4 million, and the company had a great deal of sales even with the COVID-19 outbreak.
Yellow Leaf Hammocks Founder
Rachel Connors and Joe Demin founded Yellow Leaf Hammocks. In 2008, when the recession hit, Joe lost his job in the commercial real estate development industry. He then traveled to Hawaii, and together with his wife Rachel, he set out on a mission to empower impoverished communities and make the world a better place.
In 2011, Joe went on a motorcycle adventure while on holiday in Thailand, where he stumbled upon the coziest hammock. Getting as many items as he could into his backpack, he set out to show the world what he had found.
Meanwhile, he noted a great number of weaver families who wanted to use their skills to improve their lives. Joe eventually returned to the US and launched the company with Rachel. They wanted to create a chance for Thai families to break free from poverty. Additionally, they wanted Americans to be able to relax at home and cope with stress.
The Yellow Leaf Hammock on Shark Tank
During Shark tank, Joe asked for $400,000 for a 7% stake in their firm, valued at $5.7 million. To begin, they discussed the company’s social mission before getting into the numbers.
The company said that sales reached $860,000 in 2018, and are expected to reach $1.3 million in 2019. They said there is a 50/50 split between online sales and sales through strategic partners such as cruise lines.
In response, three Sharks come up with a deal. Robert Herjavec offered $400k for a 15% stake in the company.
Lori Greiner offered $200k in return for 70% of the company, assuring she would fulfill all orders.
Daniel Lubetzky puts everything on the line, offering 1 million dollars for 33% of the business. Lori revised her offer to $200k for 17% equity and $200k for 7% interest.
In response, Daniel Lubetzky suggested that they should explain their proposal, and they asked him to accept $1 million for 25% of the firm.
Daniel Lübetzky agrees to exchange $1 million for 25% ownership of the firm valued at $4 million, after several counteroffers.
Yellow Leaf Hammock after Shark Tank
Almost two months after its original airing, this episode aired again. The firm has now been listed on Daniel Lubetzky’s website after the deal was completed. The epidemic caused a negative impact on Cruise Ship Sales, but Amazon was still selling them. Direct consumer sales began at the company. In November 2021, their annual sales reached $1 million.