Aerospace Engineer Pitches "The Most ADVANCED Mattress On The Market!" | Shark Tank AUS

next up in the tank are two entrepreneurs who are confident they can ruffle a few feathers the shark should invest in our business today because we've been successful already we're two very smart guys big cocky or MSA and we're gonna be successful into the future [Music] hi sharks my name is Winston and my name is self we're the co-founders of an online mattress company sleeping duck we're here today because they're looking for $500,000 of investment sorry in exchange for 5% of our business 5% right stuffing around this here is the sleeping duck it's the most advanced mattress on the market today it can be customized to anyone's unique sleep needs every mattress we sell comes with a hundred night trial during that trial you can change the firmness and the feel depending on how you're sleeping all you need to do is unzip the top right there and swap out the foams and it increases or decreases the firmness if after that you're still not happy will happily pick up the mattress from your house and give you a full refund it's truly risk-free so we sell a mattress in Australia and in the UK through our online store sleeping calm the mattress come shipped direct to your door in a surprisingly small box just like the ones we have over there and because we're online only we can sell our mattress for two to three times less than what it would cost if we were selling it in a traditional store we've had amazing feedback and traction over the last three years I'm actress has an average score of 4.9 out of 5 from over a thousand customer reviews wow that's pretty impressive thank you with the investment that we're seeking we'll be able to increase our marketing and accelerate our growth we thank you for your time we'd love you to jump into bed with us and we open it up to any questions now that's great and obviously you're valuing your business at 10 million dollars fender and re-evaluation you sound like you've been in business before you too or is this highest venture yes this is our first venture we met out of uni on a graduate program at one of the big banks were you study aerospace engineering as you do from aerospace to mattresses in you I studied civil engineering one and recite we study business as well I have to trial I think xtronic right with you jump on so we have an app I'm going to come here Andrew a couple of sharks in bed together yeah just don't touch what you can't afford this is how you adjust it right exactly how does that fit in that does you want to see is a king is a king single so a single size I see yeah that's not good idea that Kim Thanks yeah so it comes off spring it does have Springs right so that takes about now 48 hours to come back to its full size so that was previously compressed before we put it on here so how much money have you made in the last two or three years the revenue for the last three years our first year we did three hundred thousand in the second year we did 2.4 million and in the last financial year we did four point seven million all right that's pretty good so you must have had some other investors at this point of you know we bitched up did ourselves Tisa we saved up what we hit what we could make at the bank both put it in $25,000 each what are you what are you forecasting revenue in the next financial year the episode we are forecasting for the current year to do 5.5 million dollars and what's the investment that we're seeking now we believe we can increase that to 7.5 million dollars you went from two point four to four point seven and now you're only going to five point five something doesn't make sense there why is your growth rate slowing it should be staying the same or accelerating so we've done we've got two key sources of traffic website traffic you talking about over so yeah we've got cheap organic traffic we've got a traffic which by nature costs money to bring in what we've seen happen some of the cheaper traffic that Paul has started to shrink we have to offset that with the paid traffic [Music] you have to admit your sales you've hit a wall you've hit a bump it's not insurmountable yeah you it's not a good indicator when a new business growth stores passes but I think I can help you fix it 500,000 for 25 percent oh yeah isn't I thought yeah that's enough [Music] I'd say that's a no one okay so no I got offer it's a no I was gonna make an offer but it was actually at the 25 point so unless unless you want me more than human you're happy to go for 25 why don't they want you more than me though I don't know just because because I can't get below 25 that I can't get below 25 percent so if 25 percent is absolutely off the cards totally I'm out [Music] 500,000 for 20 percent but I want $20 a mattress until I get my money back just just keep saying no the rest will drop out that I'll come in at the end it's all good you know sometimes people get left at the altar if they wait too long Winston and sell are seeking investment in their online mattress business 500,000 for 25% so no one's a no it's an old that I'll [ __ ] Andrews first offer was rejected and Janine is out 500,000 for 20% but I want $20 a mattress and until I get my money back it's just keep saying no the rest will drop out that I'll come in at the end that's all good you know sometimes people get left at the altar if they wait too long Winston's felt terrific fabulous great brand I think you've had some early success which might be dazzling you so I'm out thank you are we saying no to my offer as well these guys are just sitting here pussyfooting around this is a real retail business you are selling mattresses and congratulations you're doing a bloody good job yeah 4.7 million after year three well done but I am choking on your valuation and for that reason I'm out nice - thank you thanks for consideration or I'll go the five hundred thousand bucks for 15% no you get a crazy royalty no royalty that's an offer if we were to take your offer how would I guess how would you sort of assist us with that we help the people we invest in they have operations managers analysts we have accounts teams we bring a bit of a full spectrum I'm not gonna lowboy and give a crazy broth he's another sort of Halawa because I think that's just not gonna not gonna set you up right I'm just managing risk Steve you have enough for over here 500,000 for 20% every single time you sell a mattress you have to give Andrew $20 until the equities paid off of its body for equity and then over here you have a very simple deal which is 500,000 for 15% equity simple guy simple being the operative word all right we have a few moments thank you you know what you've got two really smart guys yeah but I am struggling for growth and that's why the valuation is laughable Michael counter out and if that doesn't work okay try to think about both your offers thank you we have a counteroffer so the 500,000 for a 10% skater I knew you're gonna go there when you start at 5% and you're gonna go there Mike that is just I'm sticking at 15 points mine at this point in time okay I love you guys I think the markets interesting I know you're gonna do well I'm sorry I don't believe your execution risk has been priced in so I'm out okay thank you we do want to go this business we're engineers we see this technology growing even further I said that's what we really want to do and that's what we're passionate about good all this I'm getting nods voice sure sorry we have to decline your offer as well no okay well good luck to you guys you need a good job I'm very disappointed us my foursome I love guys giving it a crack and not caring us out there a murderer let's let sleeping dogs lie [Music] you [Music]

Channel: Shark Tank Australia

Views: 4,048,799

Keywords: best shark tank ideas, business, entrepreneurs, millionaire, money, most successful shark tank pitches, rejected shark tank pitches that became successful, rejected shark tank, shark tank pitches, shark tank show, shark tank success, shark tank, worst shark tank pitches, most successful shark tank businesses, best shark tank pitches, shark tank full episode, Winston Wijeyeratne & Selvam Sinnappan, sleeping duck mattress review, Shark tank mattress ad, The Ultimate Mattress Test

Id: S6mareHxoMY

Length: 10min 5sec (605 seconds)

Published: Fri Mar 06 2020