What is the story behind Yellow Leaf Hammocks and their appearance on Shark Tank Season 11? Yellow Leaf Hammocks was founded by Joe Demin and Rachel Connors after a backpacking trip to Thailand. They were inspired by the beautiful hammocks handcrafted by local women and saw an opportunity to create a business that would empower these communities while offering high-quality products. In Season 11 of Shark Tank, they sought an investment to further grow their business, ultimately securing a deal with Daniel Lubetzky for $1 million in exchange for 25% equity.
Summary
- Yellow Leaf Hammocks was founded by Joe Demin and Rachel Connors.
- They create handcrafted hammocks in Thailand, providing sustainable jobs for local communities.
- They appeared on Shark Tank Season 11 seeking $400,000 for 7% equity.
- They secured a deal with Daniel Lubetzky for $1 million for 25% equity.
- Despite challenges during the pandemic, the company has grown to over $20 million in lifetime sales.
Yellow Leaf Hammocks Shark Tank Update | Shark Tank Season 11
Yellow Leaf Hammocks was born from a desire to do good while creating a product people love. Founders Joe Demin and Rachel Connors were backpacking through Southeast Asia when they discovered incredibly soft, handwoven hammocks made by women in rural Thailand.
They saw an opportunity to empower these communities by creating a sustainable market for their craft. This led them to establish Yellow Leaf Hammocks, a company that combines the comfort of high-quality hammocks with a mission to improve lives.
Shark Tank Appearance
To further their mission and grow their business, Joe and Rachel took Yellow Leaf Hammocks to the sharks on Season 11 of Shark Tank.
They hoped to secure an investment that would help them expand their reach and impact more communities.
Their appearance on the show proved to be a turning point for the company, leading to a significant partnership and increased visibility.
The Pitch
| Entrepreneurs | Joe Demin and Rachel Connors |
|---|---|
| Business | Handwoven hammocks made by women in Thailand |
| Ask | $400,000 for 7% equity |
| Deal | $1,000,000 for 25% equity |
| Sharks | Mark Cuban, Kevin O’Leary, Lori Greiner, Robert Herjavec, Daniel Lubetzky |
| Season | Season 11 |
| Original Air Date | May 8, 2020 |
| Website | Yellow Leaf Hammocks |
| Key Points of Pitch |
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| Why Sharks Accepted |
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1. The Product and its Social Impact
Yellow Leaf Hammocks stand out for their exceptional quality and comfort. They are meticulously handwoven using durable, weather-resistant materials, ensuring they can be enjoyed both indoors and outdoors.
Beyond the product itself, the company’s commitment to social impact resonated with the sharks.
By providing fair wages and sustainable employment opportunities to women in rural Thailand, Yellow Leaf Hammocks empowers them to break the cycle of poverty and support their families.
2. The Ask and Initial Offers
Joe and Rachel entered the Tank seeking $400,000 in exchange for a 7% stake in their company.
They presented a compelling case, highlighting their strong sales and the positive impact their business has on communities.
This led to multiple offers from the sharks, including Daniel Lubetzky, Lori Greiner, and Robert Herjavec.
Each shark recognized the potential of Yellow Leaf Hammocks, both as a profitable business and a force for good.
The Deal
1. Daniel Lubetzky’s Investment
Daniel Lubetzky, founder of KIND Snacks and a guest shark on Season 11, was immediately drawn to Yellow Leaf Hammocks.
He recognized the potential of a business that combined a quality product with a strong social mission.
He saw the value in empowering communities and creating sustainable economic opportunities. This resonated with his own values and business philosophy, leading him to make the first offer.
2. Counteroffers and Final Agreement
While Daniel’s initial offer sparked interest, Joe and Rachel were determined to secure the best possible deal for their company.
They skillfully navigated counteroffers from Lori Greiner and Robert Herjavec, showcasing their negotiation skills and confidence in their business.
Ultimately, they returned to Daniel, proposing a revised offer of $1 million for 25% equity.
Seeing their dedication and recognizing the immense potential of Yellow Leaf Hammocks, Daniel accepted their terms, solidifying a partnership that would prove beneficial for both parties.
Yellow Leaf Hammocks After Shark Tank
1. Impact of the Pandemic
Like many businesses, Yellow Leaf Hammocks faced unforeseen challenges during the COVID-19 pandemic.
Their partnership with Virgin Cruise Lines, a significant source of revenue, was temporarily disrupted due to travel restrictions.
However, Joe and Rachel demonstrated resilience and adaptability, shifting their focus to online sales and expanding their product offerings.
2. Sales Growth and Achievements
Despite the challenges posed by the pandemic, Yellow Leaf Hammocks has thrived. They have achieved remarkable sales growth, surpassing $20 million in lifetime sales.
This success is a testament to the quality of their products and their commitment to social impact. The company continues to expand its reach, bringing comfort and opportunity to more people around the world.
3. Media Recognition and Features
Yellow Leaf Hammocks has garnered significant attention from major media outlets. They have been featured on Good Morning America, in Oprah’s Favorite Things, and in publications like Forbes.
This recognition has further elevated their brand and contributed to their continued success.
Where to Buy Yellow Leaf Hammocks
Company Website
You can purchase Yellow Leaf Hammocks directly from their website. This allows you to explore their full range of products and learn more about their mission and impact.
Amazon
Yellow Leaf Hammocks are also available on Amazon. This provides a convenient option for those who prefer to shop through this platform.
FAQs
What are Yellow Leaf Hammocks made of?
Yellow Leaf Hammocks are handwoven using a blend of durable, weather-resistant materials. This ensures they can be enjoyed both indoors and outdoors.
Where are Yellow Leaf Hammocks made?
The hammocks are ethically handcrafted by skilled artisans in rural Thailand.
How much does a Yellow Leaf Hammock cost?
Prices vary depending on the style and size of the hammock. You can find detailed pricing information on their website or Amazon.
Do Yellow Leaf Hammocks come with a warranty?
Yes, Yellow Leaf Hammocks offer a one-year warranty on their products.
Are Yellow Leaf Hammocks comfortable?
They are known for their exceptional comfort and support. The unique weaving technique creates a hammock that conforms to your body, providing a relaxing experience.
The Bottom Line
Yellow Leaf Hammocks is more than just a hammock company. It’s a testament to the power of business to create positive change. By combining high-quality products with a commitment to social impact, they have built a successful brand that empowers communities and provides customers with exceptional comfort. Whether you’re looking for a relaxing retreat in your backyard or a unique gift that gives back, Yellow Leaf Hammocks offers a compelling choice.
