Investor: Lori Greiner
Shark Tank Appearance: May 3, 2017
Offer: $75,000 for 25% stake
Results: Sales soared from $75,000 to $45 million.
For many entrepreneurs, their time in the Shark Tank feels like an eternity. Not for Tara Brown, creator of The Sleep Styler. Brown hadn't been in the tank for 20 minutes before striking a deal with Lori Greiner. "The producers told me it was the shortest time in the Tank," Brown recalls. "I don't know if it was the fastest, but it felt like it was over in an instant."
Greiner, whose Shark Tank investments include Scrub Daddy—the biggest hit in the ABC reality show's history—instantly recognized The Sleep Styler as another "hero product." These innovative hair rollers, made from memory foam and yoga towel fabric, dry and style hair while you sleep.
"I knew I could help Tara bring this to market quickly and globally, turning The Sleep Styler into a household name within a year," Greiner says. "Within five minutes of her pitch, I had a big plan visualized in my mind."
Greiner's enthusiasm was fueled by Brown's impressive background. As a mother of two young children and a busy ophthalmologist, Brown got the idea one morning when her daughter's braided hair held perfect curls overnight. It was the ideal solution for busy women spending up to an hour daily on hair that still fell short.
Brown lacked experience building her prototype, though. "I knew it had to be a sewn product," she says. "As an oculoplastic surgeon, I knew how to sew faces, but not fabrics." She enrolled in fashion school, fitting classes around her medical practice and parenting duties. In one semester, she mastered terms like seam allowances and serged edges, iterating through 20 prototypes. Her July 2016 Kickstarter hit $10,000 in 12 hours and raised $47,000 total.
Greiner saw Brown's unstoppable drive. "I could tell she was an extreme Type A personality," Greiner notes, seeing a reflection of herself. "We think alike; she reminds me of me. I understand her completely, and we click."
The product fit Greiner's expertise perfectly. "It's ideal for infomercials," she says. "I could test a two-minute spot quickly and handle the heavy lifting if it succeeded."
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"Many entrepreneurs have great ideas but busy lives," Greiner adds. "I evaluate both the opportunity and the person. With Tara, I had the know-how, experience, capacity, and connections to explode the brand—my favorite thing. She was capable but overwhelmed and eager to reclaim normalcy."
"Many entrepreneurs have good ideas but busy lives."
Since Brown's brief Tank appearance, growth has been warp-speed. Three weeks post-airing, AllStar Products—which manages many Greiner brands—took over logistics. As The Sleep Styler gears up for Walmart and Bed Bath & Beyond in late summer, Brown admits she hasn't exercised, cooked, or tended her garden in months. Still, she prioritizes "special, meaningful moments" with family.
"A year ago, I couldn't have imagined this," Brown reflects. "It's surreal, but I've got nothing to complain about."
