The most difficult thing for parents of young children is remembering to replace their pacifiers. Babies frequently drop them often out of reach or sight which may be annoying and result in a lot of leaning over and looking for the parents.
Julie Thompson created an innovative solution known as PullyPalz after realizing how prevalent this issue was. It is a pacifier holder that connects to a plush animal and features a pulley mechanism that enables infants to quickly find their pacifiers when they fall off. PullyPalz, in her opinion, would simplify parents’ lives and provide infants with a useful, entertaining tool for self-soothing.
In her Shark Tank appearance, Julie showcased her innovative product and requested assistance from the Sharks to expand her business. Julie talked about the advantages of her goods and intended to attract funding to broaden her market with her display of adorable, vibrant toys. She asked for $100,000 in exchange for 20% equity. Did the entrepreneur get a deal on Shark Tank? Check out our PullyPalz update to find out!
PullyPalz Net Worth 2024
Julie Thompson asked for a $100k investment in exchange for 20% equity in her company, PullyPalz. This meant she valued her company at $500,000. She made a deal with Lori Greiner for $100k in exchange for 28% of her company. This new deal valued her company at approximately $357,143. After the show aired, despite initial growth in sales, PullyPalz faced difficulties in the market and ultimately shut down in 2017. With the company no longer in operation and no significant revenue generated after the Shark Tank deal, the current net worth of PullyPalz in 2024 is $0.
PullyPalz Shark Tank Update
As for a PullyPalz update, the business didn’t last long after landing a deal on Shark Tank. After the performance, the business ran into problems and was eventually shut down in 2017.
Julie’s concept was innovative and provided a practical solution for parents, but it was unable to compete in the market. The last update for PullyPalz is that the company is no longer in operation as of today.
Yes, Julie did get a deal on Shark Tank. At first, she requested $100,000 in exchange for a 20% stake in her company. Lori Greiner offered her the full money after some negotiation, but she insisted on 30% equity. After Julie rejected Lori’s offer, they ultimately decided on 28% equity.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Lori Greiner | 1# $100,000 for 30% equity 2# $100,000 for 28% equity | $100,000 for 25% of equity | Yes |
| Robert Herjavec | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
PullyPalz Shark Tank Pitch
As a mother herself, Julie Thompson saw personally how frequently infants drop their pacifiers. Her goal was to make something that would give babies more independence while saving parents time and effort. She created PullyPalz, a fun and useful toy that entertains babies as they develop motor skills and holds pacifiers, based on her personal experiences as a parent.
Julie, like many other entrepreneurs, had to deal with expensive safety testing and inventory management during the product development process. Nevertheless, she was committed to seeing her invention through to success and put $175,000 of her own funds into starting the company.
Julie arrived on Shark Tank with a cute and vibrant display of PullyPalz toys. She described how babies may get their pacifiers back without assistance from an adult, thanks to the pulley system. Julie highlighted that the toy was more than just a pacifier holder; throughout the first two years of life, it might aid in the development of coordination and other skills in babies.
With $97,000 in total sales over the previous year, she revealed remarkable sales figures and mentioned that 350 specialty retail locations and Amazon carried her goods. The unit cost to create was about $4.50, and it sold for $19.99 to $24.99 at retail. She asked for $100,000 in exchange for 20% equity in their business to expand her business. Keep reading our PullyPalz update to see what happens next!
Robert asked about the sales. Julie replied that she made $97000 from sales in the last 12 months.
Kevin O’Le questioned where she sold the products Julie responded the products are sold on Amazon as well as about 350 stores across the US.
Lori Greiner and Robert Herjavec asked about the selling price and the cost of the product. She replied the price is $19.99 to $24.99 and it costs $4.50 to make.
The high price point worried Kevin O’Leary, who said that $20 was too much for a pacifier holder. According to Julie, PullyPalz was an interactive toy that offered benefits beyond an ordinary pacifier holder.
Mark asked about the money Julie invested in the business and what she did with the money. She replied she invested $175,000, and most of her money goes into safety testing, which is very expensive. She added that she has an inventory of $100,000.
Kevin O’Leary made the decision to leave out because he felt the cost was too much for a pacifier holder.
Robert Herjavec decided not to invest because he thought there were more affordable and superior options available.
Mark Cuban also left because he agreed with Robert and had no interest in the product.
Daymond John also chose not to invest because he didn’t think the product had enough potential.
Lori Greiner found the product valuable and liked the idea. She made an offer of $100,000 for 30% stock, but after negotiation, they agreed on 28%.
Product Availability
From our PullyPalz update research, the company is not available today. PullyPalz was sold at 350 specialized retail locations and on Amazon before its shutdown in 2017. The product had a $4.50 manufacturing cost and was sold for $19.99 to $24.99. PullyPalz was more than simply a pacifier holder because it included toys and teethers that could be attached to the device. But despite its creativity, PullyPalz was unable to compete in the market, and the company closed.
Conclusion
PullyPalz got off to a promising start with an innovative product designed to address a typical parenting issue. After appearing on Shark Tank, Julie Thompson was able to sign a deal with Lori Greiner, and things appeared to be going well for her. But despite Lori’s encouragement, the business eventually ran into difficulties and closed its doors in 2017.
Even though PullyPalz is no longer in production, its tale serves as a reminder of the rewards and hazards associated with being an entrepreneur. Even though the product is no longer available, Julie’s story is an encouraging illustration of creativity and perseverance in the face of difficulty.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.