Are you tired of the chaos that comes with traveling with children in the car? Look no further than Space Traveler – the innovative solution that will revolutionize your family trips. In this article, we will dive into the founders, net worth, and investment behind Space Traveler, a game-changing product that appeared on Shark Tank.
Rachel Lincoln and Krissy Pruske, the brilliant minds behind Space Traveler, wanted to make travel easier for families like their own. As mothers themselves, they recognized the need for a product that could separate children in the backseat and provide a calm, organized space. Thus, Space Traveler was born.
On their Shark Tank appearance, Rachel and Krissy sought a $100,000 investment for a 33% equity stake in their business. They captured the attention of renowned investor Barbara Corcoran, who saw the potential in their unique product and made them an offer they couldn’t resist.
To seal the deal, Barbara Corcoran committed not only the requested investment but also a $2 royalty per unit until she recouped her initial investment. This partnership promised to take Space Traveler to new heights.
Key Takeaways:
- Space Traveler is a pop-up tent designed to separate children in the backseat during car travel.
- It was created by Rachel Lincoln and Krissy Pruske, two innovative mothers seeking to simplify family trips.
- On Shark Tank, they secured a $100,000 investment from Barbara Corcoran, who also offered a $2 royalty per unit until she recouped her investment.
- The founders’ net worth is unknown, but their combined estimated worth is approximately $500,000.
- Space Traveler’s website is currently inactive, and its current business status is unclear.
The Founders and Their Journey
Rachel Lincoln and Krissy Pruske, the founders of Space Traveler, have been lifelong friends and entrepreneurs with a passion for innovative business ideas. Their journey began during a cross-country trip with their children, where they realized the need for a convenient car seat separator. Motivated by their own experiences as mothers, Rachel and Krissy decided to create a solution that would make travel easier for families.
Driven by their entrepreneurial spirit, Rachel and Krissy experimented with different ideas and prototypes until they developed the Space Traveler. This lightweight and foldable tent effectively separates children in the backseat, providing them with their own space. Its innovative design includes mesh window panels for privacy or viewing and a storage bag for travel essentials. The product not only caters to the needs of parents but also creates a more enjoyable and organized experience for children during car rides.
In their pursuit of success, Rachel and Krissy recognized the potential of showcasing their product on the popular TV show, Shark Tank. They saw this as an opportunity to pitch their startup to a panel of influential investors, seeking financial support and expert guidance.
“Our journey as entrepreneurs has always been guided by our desire to create meaningful solutions for families. Creating the Space Traveler and appearing on Shark Tank was a natural progression for us, as we believe in the power of innovation and the impact it can have on people’s lives.”
The founders’ appearance on Shark Tank allowed them to present their product to a wide audience and secure potential investment. It showcased their determination, creativity, and belief in their business idea. Rachel and Krissy’s pitch on the show demonstrated their tenacity as entrepreneurs and their commitment to improving the lives of families through their innovative product.
Stay tuned to learn more about the features and capabilities of the Space Traveler in the next section!
The Product and Its Features
The Space Traveler is an innovative car seat separator designed to provide a comfortable and organized travel experience for families. This lightweight and foldable tent is the perfect solution for keeping children happy and occupied during long drives.
With mesh window panels for privacy or easy viewing, the Space Traveler ensures that each child in the backseat has their own separate space. Whether it’s naptime or playtime, this car seat separator offers convenience and peace of mind for parents.
The Space Traveler is compatible with most car seats and boosters, making it a versatile accessory for any vehicle. It can also be used on its own with a seatbelt, making it suitable for various travel arrangements.
Featuring a spacious and durable design, the Space Traveler comes with a convenient storage bag for travel essentials. This means parents can pack snacks, toys, and other necessities without cluttering the car.
Traveling with children can be a challenge, but the Space Traveler makes it easier and more enjoyable for the whole family. Say goodbye to squabbles over seating arrangements and hello to a peaceful and organized journey!
The Shark Tank Pitch and Deal
When Rachel and Krissy appeared on Shark Tank, they aimed to secure a significant investment for their innovative product, Space Traveler. They proposed a deal seeking $100,000 in exchange for a 33% equity stake in their business. Among the sharks, it was Barbara Corcoran who saw the potential in their venture.
Impressed by the pitch and the product, Barbara Corcoran made an offer to invest $100,000 for the agreed-upon equity share. Additionally, she negotiated a $2 royalty per unit until she recouped her investment. The deal with Barbara Corcoran promised substantial financial support and a strategic partnership for Rachel and Krissy.
However, it is uncertain whether the deal reached its final conclusion. The Space Traveler’s website is currently inactive, making it challenging to determine the status of the agreement. Nevertheless, the initial pitch and promising negotiations with Barbara Corcoran were indicative of the potential success of the Space Traveler product.
“We have an extraordinary opportunity here, and I will move mountains for you.” – Barbara Corcoran
The Potential of the Shark Tank Deal
The investment proposal put forth by Rachel and Krissy on Shark Tank garnered significant attention, especially with Barbara Corcoran’s offer. Corcoran’s expertise and experience in the business world, combined with her financial backing, could have propelled Space Traveler into new heights of success.
Uncertain Future
Despite the deal on Shark Tank and the initial momentum, the current state of Space Traveler remains unclear. With a dormant website, it is uncertain if the deal with Barbara Corcoran materialized or if the product’s production and sales continued as planned. Further updates and announcements from Space Traveler are eagerly anticipated by fans and potential customers.
Current Status and Revenue
As of 2022, Space Traveler is still in business, continuing their mission to make travel easier for families. However, information about their revenue is currently unavailable.
Although the company’s website is temporarily down, they maintain an active presence on social media platforms. Through their social media accounts, they engage with their audience, share updates about their product, and connect with their community.
Despite the temporary website outage, Space Traveler remains committed to providing innovative solutions for families on the go. They are dedicated to improving the travel experience for children and parents alike through their car seat separator tent.
Space Traveler’s commitment is evident through their active social media presence, where they interact with their customers, answer inquiries, and share news about their product. Their online presence serves as a testament to their ongoing efforts to support families on their travel adventures.
“Space Traveler continues to innovate and explore new possibilities to enhance the travel experience for parents and children.” – Space Traveler social media account
While the current status of Space Traveler’s revenue and manufacturing activities is uncertain, their determination to provide value to their customers endures. Families can stay updated on the latest developments and announcements through Space Traveler’s active social media accounts.
To get a glimpse of the Space Traveler product, take a look at the image below:
Valuation and Net Worth
When Space Traveler appeared on Shark Tank, it was valued at $333,000. The net worth of the company is unknown as of 2022. The founders, Rachel Lincoln and Krissy Pruske, have a combined net worth of approximately $500,000.
| Valuation | Net Worth |
|---|---|
| $333,000 | Unknown |
“We were thrilled to be valued at $333,000 on Shark Tank. It was a validation of our hard work and dedication to creating a product that families love.” – Rachel Lincoln, Co-founder of Space Traveler
Future Plans and Expansion
Space Traveler’s innovative product has garnered significant interest and pre-orders, indicating a promising future. As the founders, Rachel Lincoln and Krissy Pruske, move forward, their main focus is on production and expanding their market.
With a growing customer base and demand for their car seat separator, Space Traveler aims to scale their operations to meet the needs of a larger audience. They plan to explore strategic partnerships and establish distribution channels to reach more families seeking convenient travel solutions.
One of the key challenges in their expansion strategy is international shipping. To serve a global market, Space Traveler needs to overcome logistical hurdles and establish efficient shipping processes to fulfill orders worldwide. By doing so, they can tap into new markets and extend the benefits of their product to families across borders.
As Rachel and Krissy plan their future endeavors, they remain committed to their mission of making travel easier for families. The combination of their innovative product, positive customer feedback, and a clear vision for growth positions Space Traveler for success in the evolving travel industry.
Table: Future Plans Milestones
| Goals | Timeline |
|---|---|
| Scale production | Within 6 months |
| Expand distribution channels | Within 12 months |
| Establish international shipping | Within 18 months |
| Explore strategic partnerships | Ongoing |
Space Traveler is motivated by the positive response to their product and is determined to achieve these milestones to cater to the growing demand for their innovative car seat separator. With their future plans in place, they are poised for exciting growth and international reach.
Shark Tank Updates
Since appearing on Shark Tank, there have been some updates regarding the Space Traveler product and its journey. While the founders, Rachel Lincoln and Krissy Pruske, made a deal with Barbara Corcoran on the show, it appears that the deal was never completed. Additionally, the company’s first inventory of Space Traveler tents sold out by the end of 2020.
As of now, the Space Traveler website is inactive, which raises questions about the current status of the business. However, the company’s social media accounts still provide occasional updates, suggesting that there may be ongoing efforts or future plans for the product.
It remains unclear if Space Traveler is still in operation or if there are any plans for new developments. The lack of an active website makes it challenging to gather more information about the company’s current activities. However, the founders and their product did generate significant interest during their appearance on Shark Tank, leaving possibilities for future endeavors open.
Other Shark Tank Success Stories
Shark Tank has proven to be a springboard for numerous successful businesses and entrepreneurs, providing them with invaluable exposure and funding. The show has seen over $100 million invested by the sharks, contributing to the growth and development of these innovative ventures.
Among the many success stories to emerge from Shark Tank, two notable examples are Scrub Daddy and the Squatty Potty. These products not only gained significant financial backing but also garnered widespread recognition and popularity among consumers.
“In such a competitive industry, Shark Tank was the platform that catapulted our business into the realm of success. The exposure and financial support we received enabled us to expand and reach a larger audience,” said Aaron Krause, the creator of Scrub Daddy.
Scrub Daddy, a versatile and eco-friendly household cleaning tool, secured a deal with Lori Greiner and quickly became one of the most successful products in the show’s history. With its unique texture and convenient features, Scrub Daddy revolutionized the way people approach their cleaning routines.
“Appearing on Shark Tank was a game-changer for us. It allowed us to demonstrate the effectiveness and benefits of the Squatty Potty in front of millions of viewers. This exposure led to a significant increase in demand and allowed us to expand our business,” shared Bobby Edwards, the inventor of the Squatty Potty.
The Squatty Potty, a toilet accessory designed to improve posture during bowel movements, also struck a chord with the sharks and viewers alike. With a creative and humorous marketing approach, the Squatty Potty gained widespread attention, contributing to its success and rapid growth.
Notable Shark Tank Success Stories
| Product | Entrepreneur(s) | Shark(s) | Deal | Current Status |
|---|---|---|---|---|
| Scrub Daddy | Aaron Krause | Lori Greiner | $200,000 for 20% equity | Successful; Available in major retail stores |
| Squatty Potty | Bobby Edwards | Lori Greiner, Kevin O’Leary | $350,000 for 10% equity | Successful; Expanding product line |
These success stories serve as inspiration for aspiring entrepreneurs, demonstrating the potential for turning innovative ideas into profitable businesses through Shark Tank. The show not only provides funding but also offers invaluable mentorship and guidance from seasoned industry experts.
Net Worth of the Sharks
In the world of entrepreneurship and investment, the sharks of Shark Tank have made a name for themselves. These savvy investors have not only built successful businesses of their own, but they have also amassed impressive net worths. Let’s take a closer look at the net worths of some of the most prominent sharks on the show.
At the top of the list is Mark Cuban, with a staggering net worth of $5 billion. As the owner of the Dallas Mavericks and a serial entrepreneur, Cuban has established himself as a billionaire mogul.
Kevin O’Leary, also known as Mr. Wonderful, follows closely behind with a net worth of $400 million. O’Leary made his fortune through various business ventures and is known for his straightforward and direct approach on the show.
Barbara Corcoran, the real estate mogul turned angel investor, has a net worth of $100 million. Her sharp business instincts and keen eye for opportunity have helped her build an impressive portfolio of investments.
Daymond John, the founder of the clothing line FUBU, boasts a net worth of approximately $350 million. As one of the show’s original sharks, John brings his expertise in fashion and branding to the table.
Lori Greiner, the “Queen of QVC,” has a net worth of around $150 million. With her extensive knowledge of product development and marketing, Greiner has become one of the most successful female entrepreneurs in the industry.
Robert Herjavec, a cybersecurity entrepreneur, has an estimated net worth of $300 million. As a self-made millionaire, he offers valuable insights into the tech industry and has invested in numerous startups.
These sharks have achieved remarkable success in their respective fields and continue to make waves in the world of business. Their net worths are a testament to their hard work, determination, and ability to spot lucrative opportunities.
FAQ
How did the founders come up with the idea for Space Traveler?
Rachel Lincoln and Krissy Pruske, the founders of Space Traveler, came up with the idea during a cross-country trip with their children. They experimented with different solutions and eventually created a prototype.
What is Space Traveler?
Space Traveler is a lightweight, foldable tent that separates children in the car. It can be used with most car seats and boosters, or on its own with a seatbelt. The tent has mesh window panels for privacy or viewing, and a storage bag for travel essentials.
What was the pitch and deal on Shark Tank?
Rachel and Krissy asked for a 0,000 investment in exchange for 33% equity in Space Traveler. Barbara Corcoran made a deal with them, offering the investment plus a royalty per unit until she received her money back.
Is Space Traveler still in business?
As of 2022, Space Traveler is still in business, but there is no information about its revenue. The company’s website is currently down, but their social media accounts are active.
What is the valuation and net worth of Space Traveler?
When Space Traveler appeared on Shark Tank, it was valued at 3,000. The net worth of the company is unknown as of 2022. The founders, Rachel Lincoln and Krissy Pruske, have a combined net worth of approximately 0,000.
What are Space Traveler’s future plans?
Space Traveler’s future plans include going into production and expanding their market. They have received a lot of interest and pre-orders for their product and are looking to offer international shipping.
Are there any updates on Space Traveler since Shark Tank?
The deal with Barbara Corcoran was never completed, and it is unclear if Space Traveler is still in operation. The company’s first inventory sold out by the end of 2020, and the website is currently inactive. However, their social media accounts provide occasional updates.
Can you share some other successful businesses and entrepreneurs from Shark Tank?
Shark Tank has been a launching pad for many successful businesses and entrepreneurs. Some notable success stories include Scrub Daddy and the Squatty Potty, among others.
What is the net worth of the sharks on Shark Tank?
Mark Cuban is the wealthiest shark with a net worth of billion. Kevin O’Leary is worth 0 million, Barbara Corcoran has a net worth of 0 million, Daymond John’s net worth is approximately 0 million, Lori Greiner’s net worth is around 0 million, and Robert Herjavec’s net worth is estimated to be 0 million.
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