Why Did Shark Tank Pass On Pluie Diaper Changing Tables? Season 14, Episode 16

Why Did Shark Tank Pass On Pluie Diaper Changing Tables? Season 14, Episode 16

The combination of a high valuation, concerns about market demand and scalability, financial performance, and operational issues contributed to the Sharks deciding not to invest in Pluie.

Pluie, the world’s first self-sanitizing diaper changing table, was featured on Shark Tank during Season 14, Episode 16, which aired on March 10, 2023.

The company, founded by Addie Gundry and Brittany Hizer, addresses the problem of unsanitary and impractical baby changing tables in public restrooms. The innovative product uses a UV-C light system to kill 99.9% of germs, bacteria, and viruses, ensuring a cleaner and safer experience for parents and their babies.

During their Shark Tank pitch, Addie and Brittany sought $500,000 for 5% equity in their company, which valued the business at $10 million.

However, despite their passionate presentation and the product’s clear benefits, the founders left without securing a deal.

Shark Tank passed on investing in Pluie, a self-sanitizing diaper changing table, for several key reasons:

1. Valuation Concerns:
   • High Valuation: Pluie’s founders, Addie Gundry and Brittany Hizer, sought $500,000 for 5% equity, which implied a $10 million valuation. The Sharks felt this valuation was too high given the current state of the business. Kevin O’Leary, in particular, mentioned that the valuation was “outrageous,” making it difficult for him to justify an investment.
2. Market Demand and Scale:
   • Demand Doubts: Daymond John and Robert Herjavec questioned the overall demand for Pluie’s product. They were concerned that the market for public changing tables, even one with self-sanitizing features, might not be large enough to justify the investment.
   • Scaling Issues: Daymond John also expressed doubts about the ability to scale the business effectively at that point, which could be a significant hurdle for investors looking for substantial returns.
3. Financial Performance:
   • Revenue and Losses: The company had made only $150,000 in revenue in 2022, with substantial losses of $500,000 that year and $1 million in 2021. This financial track record might have raised concerns about the company’s ability to become profitable or sustain growth.
4. Product and Operational Concerns:
   • Power Requirement: The Sharks were initially concerned about the necessity for a power outlet to operate the self-sanitizing feature. While Addie and Brittany assured them that this had not hindered sales, it was still a point of concern.
   • Sanitization Time: Although the 60-second sanitization process was effective (killing 99.9% of germs), the Sharks might have worried about the operational logistics and whether it would be universally accepted in various public facilities.
5. Investment Risk:
   • Pre-Revenue Status: Kevin O’Leary noted that the business was effectively “pre-revenue” at the time, which means it had not yet achieved a level of financial stability that would make the investment risk more palatable.
   • Valuation Flexibility: Although the founders were willing to negotiate on valuation, the Sharks’ concerns about the overall feasibility and return on investment overshadowed these discussions.

Pluie Diaper Changing Tables

Pluie Diaper Changing Tables are a modern solution designed to improve the hygiene and convenience of changing diapers in public restrooms.

Pluie offers a high-tech solution for a common public restroom feature, combining advanced sanitation technology with practical design to improve the diaper changing experience for parents and caregivers.

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It addresses common concerns about public diaper changing tables, which can be unhygienic and inconvenient. By incorporating a self-sanitizing feature, Pluie aims to enhance the cleanliness and safety of diaper changing stations, especially in high-traffic public areas.

Here are the key features and details of the Pluie diaper changing table:

Key Features:

1. Self-Sanitizing:
   • UV-C Light System: Pluie tables come with a built-in UV-C light system that sanitizes the surface, killing 99.9% of germs, bacteria, and viruses. The sanitization process takes about 60 seconds.
   • Long-Lasting UV-C Bulbs: The UV-C light bulbs used can last up to 10,000 hours.
2. Hygienic Design:
   • Durable Materials: The table is made from materials designed to be easy to clean and maintain.
   • Microfiber Cloth Cleaning: For regular maintenance, the table can be cleaned with a microfiber cloth and mild soap and water.
3. Two Variants:
   • UV-C Light System Table: Priced at $2,899, this variant includes the UV-C sanitizing feature.
   • Non-UV-C Light System Table: Available for $1,699, this version lacks the self-sanitizing feature.
4. Comfort and Safety:
   • Soft Bed and Security Features: The table includes a comfortable surface for the baby and safety features such as secure straps.
   • Handle: An ergonomic handle for ease of use.
5. Compliance:
   • Standards Compliance: Meets ASTM, CPSIA, FCC, and UL 1431 standards for safety and quality.

Business and Market:

• Founders: The company was founded by Addie Gundry and Brittany Hizer in January 2020.
• Revenue and Sales: As of the latest updates, Pluie had sold over 300 units. The business has faced challenges with high valuation and financial losses but continues to operate and expand its presence.
• Installation Locations: Pluie tables have been installed in various public locations, including airports, restaurants, and theme parks.Top of Form

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Despite the lack of a deal on the show, Pluie continues to operate and has seen growth since the episode aired.