Napwell Net Worth 2022
Napwell Net Worth 2022
Napwell is a sleeping mask with lights, designed to help you sleep better. It is meant to simulate a gentle sunrise so that you can be gently awakened when you need to get up. Currently, the Napwell mask is available for $100. However, the company has not promoted the product since its Shark Tank appearance in January 2015. The founders, Neil Joglekar and Justin Lee, have not announced their financial situation.
Neil and Justin contacted Shark Tank producers and pitched their idea to the investors on the show. They were able to raise over $50,000 within 40 days. Despite the success of their crowdfunding campaign, the pair asked for a $100,000 investment. They explained that they wanted a 10% equity stake in the company. They also explained that they were not familiar with the startup business world.
The Napwell entrepreneurs believed that the problem of people not sleeping enough is real and that Napwell would make it easier for everyone to take a good nap. They were also hopeful that the Sharks would help them find funding from Silicon Valley or other technology-friendly investors. They did not get their wish. They ended up with little more than a boost and may not have made as much money as they could have had if they had gotten Sharks to invest in their product.
Robert Herjavec was skeptical of the Napwell concept and didn’t think it was worth the risk of a potential investment. He also said that there was not enough proof that Napwell’s product would help anyone. Although the Napwell mask had some interesting features, he was a bit unimpressed with it. He thought that it would not sell in large quantities and would put off customers.
Mark Cuban was surprised that the Napwell team sought out investment from the Sharks. He believed that if the team were to go to Silicon Valley for funding, they would have access to a huge network of other technology-savvy investors. But he also criticized the pair for not seeking out more conventional funding sources. He said that they needed to raise money from other sources to give the Napwell project a fighting chance.
The Napwell Sleep Mask is a sleeping mask with LED lights. The light gradually dims as you are sleeping, then comes to life when you need to be gently awakened. The sleep mask is designed to avoid the groggy feeling that is associated with waking up from a long nap.
The Napwell Sleep Mask has yet to achieve any notable success since its appearance on Shark Tank in February 2015. It hasn’t sold a single mask and is unlikely to do so in the near future. As of August 2016, the company had 550 backers. Nonetheless, it is unlikely that Napwell will have the money to pay its bills. It appears that the founders will move on to more profitable ventures.
Napwell had a Kickstarter campaign which raised more than $50,000 in 40 days. The company promised to deliver the final batch of 550 masks in July 2016. It is unclear whether or not the Napwell Sleep Mask ever sold beyond its crowd-funding campaign.