Simple Habit was developed by Yunha Kim to assist individuals in developing the practice of meditation. The product is an app for smartphones that offers guided meditations for five minutes. The goal of the app is to help users focus better and feel less stressed. Kim felt that other meditation apps were lacking something crucial, so she came up with the concept. Her goal was to create an app that was more customized for each user and provided greater variety.
Kim raised more than $2 million to launch the app in 2016. Simple Habit had more than 500,000 users by the time she presented it on Shark Tank. She went to the sharks to ask for $600,000 in exchange for 5% of her company. However, things didn’t work out as expected. Will the entrepreneur get a deal on Shark Tank? Check out the Simple Habit update to find out!
Simple Habit Net Worth Shark Tank Update 2025
Yunha Kim asked for a $600k investment in exchange for 5% equity in her company. This meant she valued her company at $12 million. She received an offer from Richard Branson for $300k in exchange for 10% equity, and a joint offer of $600k for 20% from both Branson and Robert Herjavec. After countering with $600k for 6% equity and later rejecting the final offer of $600k for 15%, she did not secure a deal. After the show aired, Simple Habit saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Simple Habit is about $20 million.
In our Simple Habit update research, Simple Habit experienced tremendous growth following the Shark Tank episode. The app was downloaded 75,000 times the night the episode aired. The app had over a million downloads the following month. Simple Habit boasted over 7 million users by 2020. The business began to provide additional features.
During the pandemic, they provided users with free access to premium content. This was a significant step that kept Simple Habit current. The business was sold to Ingenio in 2023. However, that doesn’t mean Simple Habit is no longer there. The application is still operational. It is still a well-liked wellness app.
Unfortunately, Simple Habit was not selected for a Shark Tank deal. Yunha Kim requested $600,000 in exchange for a 5% stake. Her approach did not impress the sharks. They believed she didn’t require the funds. She had already secured funding totaling $2.8 million. The first person to leave was Mark Cuban. He believed Kim’s sole motivation was publicity. “Gold digger,” he said.
Damon John left after agreeing with Mark. Lori Greiner added that she could be a customer but had no interest in investing. Richard Branson made a 10% offer of $300,000. However, Kim retaliated with $600,000 or 6%. A joint offer of $600,000 for 15% was then made by Branson and Robert Herjavec. Kim turned down the offer. She didn’t make a deal when she left the tank.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Robert Herjavec | 600,000 for 20% equity | #1 600,000 for 6% equity #2 600,000 for 15% equity | N/A |
| Richard Branson | 600,000 for 20% equity | #1 600,000 for 6% equity #2 600,000 for 15% equity | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
Simple Habit Shark Tank pitch
Yunha Kim’s journey started in a very different field. She was an investment banker on Wall Street. She worked in high-pressure finance jobs. But the stress was too much for her. It was during this time that she discovered meditation. Meditation helped her deal with stress. She realized it had huge potential to help others. Yunha wanted to share this with the world. She wanted to create a tool to make meditation more accessible.
This led her to develop Simple Habit. Before launching Simple Habit, Yunha had founded another company called Lock It. She started it when she was just 23 years old. Lock It was a mobile app, but it didn’t work out as planned. Afterward, Yunha decided to drop out of Stanford Business School.
She believed in her new idea. So she took a risk and decided to build Simple Habit. Starting a new company came with challenges. Yunha faced doubts from friends and family. She had already experienced one failed business and had little financial support. But she didn’t let that stop her. She raised funds to get Simple Habit off the ground. She turned to the Y Combinator accelerator program.
There she found investors who believed in her. Yunha worked hard to make Simple Habit successful. Even when she pitched it on Shark Tank, she was already seeing progress. The company had already earned $750,000 in revenue and reached half a million users. She wanted the sharks to help take her company to the next level.
Yunha Kim knew what she wanted when she stepped into the tank. She was asking for $600,000 in exchange for 5% equity. Her business was valued at $12 million. She began by outlining the objectives of her product. People can develop a meditation habit with the aid of Simple Habit. The app provides personalized guided meditations for various circumstances. Simple Habit offers a solution for both work-related stress and the need to unwind.
Kim informed the sharks of her company’s success right away. Simple Habit had 500,000 users in its first year. Her revenue was already $750,000. Kim added that although
Simple Habit wasn’t yet profitable, but it was expected to generate $5 million in revenue the following year. There were two price options for the app. Users could either pay a monthly fee of $11.99 or $99.99 annually. Kim also disclosed that $2.8 million had already been raised. Her prior investments had left her with $2.3 million. Yunha hoped for more in spite of everything. She sought the sharks’ assistance with strategy and marketing.
Kim appeared to be making a strong pitch. The revenue and user numbers impressed the sharks. However,r things changed when she revealed that she intended to hire celebrities to promote the app. The sharks were alarmed by this. They believed she was using the tank for publicity and didn’t need the money.
The sharks asked a lot of questions during Yunha Kim’s presentation on Simple Habit. They wanted to know how the app made money and how successful it was. The first query concerned the growth of Simple Habit’s user base. The app generated $750,000 in revenue and had 500,000 users. The sharks were interested in the financials. Kim informed them that she had not yet turned a profit. However, it was projected that the app would generate $5 million in income the next year.
An apparently irritated Damon John questioned why Yunha was requesting more funds when she already had a sizable sum. Kim clarified that she was seeking strategic assistance from the sharks in addition to financial gain. She thought that with their experience, she might expand the company even more. But it didn’t sit well with Mark Cuban. He didn’t see why she needed assistance when she had so much money already.
He dubbed her a gold digger at this point. Her need for money was not believed by the sharks. They emphasized that she had raised a substantial amount of money and appeared to be in good financial standing. Kim, however, emphasised that she was seeking more than money. She desired the sharks’ marketing and commercial acumen. The sharks were still skeptical in spite of her reasons.
The sharks didn’t agree on the deal for Simple Habit. Mark Cuban was the first to get out. He didn’t like that Yunha had so much money already and felt she didn’t need their help. He called her a gold digger for wanting more money. Daymond John also didn’t think the deal was worth it. He felt that other entrepreneurs came into the tank with less and worked harder. Lori Greiner followed suit and said she wasn’t interested in investing. Richard Branson was the only shark who made an offer.
He offered $300,000 for 10% of Simple Habit. Robert Herjavec agreed to match Richard’s offer. They both wanted to invest $600000 for 20% of the business. Yunha countered with $600,000 for just 6%. Robert and Richard didn’t agree to her terms and lowered their offer to $600000 for 15%. Yunha turned it down. She didn’t want to give up that much equity in her company. After that, both Richard and Robert decided to walk away from the deal.
What Went Wrong With Simple Habit on Shark Tank?
The sharks didn’t invest in Simple Habit primarily because Yunha had a sizable financial base already. The majority of the $2.8 million she had raised was still available. The sharks couldn’t figure out why she needed more money when she already had so much. They also thought that a company that wasn’t yet profitable should not have been valued at $12 million. Critic Mark Cuban was the most critical.
Yunha was referred to as a gold digger by him for requesting more money when she didn’t need it. She wasn’t being truthful with him about why she went on the show, in his opinion.
The other sharks were worried too. Simple Habit didn’t seem to provide enough special value to warrant the expenditure. Yunha’s poor explanation of why she needed the sharks’ assistance was another problem. She didn’t provide a compelling argument for the sharks to invest, but she did state that she wanted more than simply money.
The sharks believed she was more interested in publicity than in actual business assistance. Yunha maintained her choice to decline the sharks’ offer in spite of these problems. She didn’t want to give up too much stock because she thought her business was worth more.
Product Availability
Even now, Simple Habit is still accessible. You can download the app for free on both iOS and Android. Basic meditation sessions are available to users at no cost. However, consumers must pay a subscription fee in order to access premium features. The monthly cost of the premium subscription is $11.99, and the annual cost is $99.99. You can download the app from the App Store.
Their website also offers Simple Habit. The app’s features and cost are among the details provided on the website. A free trial is available to users prior to committing to a subscription. Simple Habit is still growing and well-liked by those seeking meditation solutions.
Conclusion
Simple Habit has expanded significantly since its Shark Tank debut. On the night of the broadcast, 75,000 people downloaded the app. Within the following month, a million downloads were made. Seven million people were using the app three years later. Simple Habit has generated more than $34 million annually. It currently has a $20 million value.
Despite being sold to Ingenio in 2023, the business is still in operation. Simple Habit has broadened its services to include assistance with stress, concentration, sleep, and other issues. Users have given the app positive reviews, and it remains popular. People all across the world are finding serenity and tranquility in their everyday lives thanks to Simple Habit.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
