Hug Sleep, a cutting-edge device, was started by Angie Kupper and Matt Mundt in February 2019. As of December 2023, Hug Sleep’s net worth is $5 million and they’re pulling in a whopping $24 million in annual revenue.
In November 2021, they appeared on season 12 of Shark Tank USA and made a deal with Mark Cuban and Lori Greiner, $300,000 for 20% equity. The final valuation was $1.5 million, same from the founder’s initial estimate of $1.5 million.
As of 2023 December, the company is still in business. You can purchase products through e-commerce channels such as their website and Amazon.
Hug Sleep Net Worth
| Net worth | $5 million |
| Annual Sales Revenue | $24 million |
| Profits | $10 million |
| Lifetime sales | Over $15 million |
| Investors | Mark Cuban, Lori Greiner |
| Founders | Angie Kupper and Matt Mundt |
| Employees | 1-10 employees |
Hug Sleep Net Worth Timeline
| Net Worth 2023 | $5 million |
| Net Worth 2022 | $2 million |
| Net worth valuation 2021 after appearing on Shark Tank | $1.5 million |
| Net worth valuation 2021 before appearing on Shark Tank | $1.5 million |
Hug Sleep Pitch on Shark Tank
| Company name | Hug Sleep |
| Product | An adult swaddle-like blanket to promote better sleep |
| Episode | Season 12 Episode 03 |
| Founders | Angie Kupper and Matt Mundt |
| Asked for | $150,000 for 10% equity |
| Final Deal | $300,000 for 20% equity |
| Sharks | Mark Cuban and Lori Greiner |
| Location | Brookfield, Wisconsin, United States |
Don’t miss these product from Season 12
Hug Sleep Founders
Hug Sleep was founded by Angie Kupper and Matt Mundt in 2019. They are husband and wife. Matthew Mundt is the person who started Hug Sleep and is now its CEO. Before this, he was a Senior Product Manager at Foxconn. He went to Stanford University Graduate School of Business. Hug Sleep’s founders, Angie Kupper and Matt Mundt, have a net worth of 4 million USD as of 2023.
Key accomplishments
| Year | Accomplishment |
| 2020 | The company started in 2019 and earned $490,000 in profits 16 months later by selling items at $69.99. |
| 2021 | The company appeared on Shark Tank Season 12 and got the deal from Mark Cuban and Lori Greiner. |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Hug Sleep and its continued success.
