Whatever Happened To Yellow Leaf Hammocks After Shark Tank Season 11?
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Swinging on a hammock in warm yet shady weather with a drink in hand is the pinnacle of relaxation. Entrepreneurs Joe Demin and Rachel Connors aim to bring that same vacay vibe to everyday life with Yellow Leaf Hammocks. These swinging chairs are a great way to decorate your space for maximum relaxation. Plus, their cloth swings aren't just a product, but a social statement. The company's business model brings economic opportunities to rural communities in Thailand. Each hammock is handmade and signed by the person who wove it. In order to sell more swings and help more people in Thailand, Demin and Connors went on "Shark Tank."
The couple and business partners started Yellow Leaf Hammocks after Demin returned from a backpacking trip in southeast Asia. There, he discovered the high-quality hammocks weaved by the Mlabri Tribe and quit his finance job for the chair of luxury. Denim and Connors were raking in big business but wanted the help of the investors Robert Herjavec, Lori Greiner, Kevin O'Leary, Daniel Lubetzky, and Mark Cuban.
The entrepreneurs scored a million-dollar deal
Founders Joe Demin and Rachel Connors entered the tank seeking $400,000 for a 7% stake in their company, Yellow Leaf Hammocks. At the time of taping their Season 11 Episode 24 appearance, the entrepreneurs had over $1.3 million in revenue. The wealthy Sharks loved their social mission and their seven-figure sales.
It didn't take long for Daniel Lubetzky, the founder of KIND Snacks, to make an offer. He got the ball rolling and proposed $1 million for 33% of the company. That was more than double the cash Demin and Connor were looking for. However, the Yellow Leaf founders didn't want to depart with a third of their business. Lori Griener offered $400k for 20%, and the entrepreneurs countered $1 million for 25% but for both Griener and Lubetzky to join the hammock family. Robert Herjavec threw out an offer of $400k for 15%, while Kevin O'Leary and Mark Cuban sat back and watched the feeding frenzy. Greiner, the QVC queen, didn't like the million-dollar counter and switched her deal to a loan. However, Lubetzky was willing to depart with $1 million for a quarter of the company without Greiner. Denim and Connors snagged the seven-figure contract leaving the tank with a billionaire investor on their team.
Yellow Leaf Hammock survived the global pandemic
Business was booming for the Yellow Leaf Hammocks company, especially after their appearance on "Shark Tank." However, the hammock enterprise was greatly affected by the COVID-19 shutdown. Prior to appearing on the show, Yellow Leaf Hammocks secured a deal with Virgin Voyages to have their hammock outside every cabin on their cruise ships. However, business slowed down when travel was suspended, and the wholesale business of hammocks tanked.
Despite the choppy waters of running a company, Joe Demin and Rachel Connors pushed through, pivoting to a total revamp of their online retailing. The weekend after airing on "Shark Tank," Yellow Leaf received $250,000 in sales. Four months later, they were up to $1.5 million. Those purchases equal 200,000 hours for their artisan weavers in Thailand. Daniel Lubetzky was able to help Demin and Connors grow a lucrative business with over $15 million in sales just three years after their "Shark Tank" appearance.
These Shark Tank alums are still a success
Not every business that left the tank with a deal was successful, but Yellow Leaf Hammocks found its stride. However, taking an investment wasn't the easiest decision to make. "In the moment we were nervous to give [Daniel Lubetzky] 25% of our company in return," co-founder Rachel Connors told Medium. "But it was truly the best outcome we could ever have hoped for." Yellow Leaf has an estimated value of $4 million. Their profits continue to rise, and the business spouses are still committed to their social mission.
"There's certain things we just can't sacrifice, you know. The mission was baked into our existence before even I came into the picture," Joe Demin shared on The Kara Goldin Show. "This initiative was started to provide people a path out of poverty, to empower them to change their lives. And I felt like I came in and have the chance to scale that into something that would be sustainable for generations to come." The Yellow Leaf team has over 400 weavers in Thailand. They are changing the economic situation for the Mlabri Tribe, as well as how the general population sees hammocks.
Joe Demin and Rachel Connors are innovating hammocks
Other than the Hammock Thrown, seen on "Shark Tank," Yellow Leaf Hammocks also offers the Adjustable Hammock Stand, which is a significantly more affordable option. Although, the pair are outdoing themselves with their newest product, The Vista. This hammock stand is an update to their adjustable stand. It is half the older model's weight, has pockets for storage, and comes with a carrying case. You get the luxury of a high-quality handwoven hammock with the ease of a lightweight chair that fits in a duffle bag. You can shop their collection on the Yellow Leaf Hammocks website or Amazon.
To stay up-to-date on all things relaxation and the ripples Yellow Leaf Hammock is making in Thailand, you can follow the company's Instagram, which currently has over 20,000 followers. Demin and Connors still hold their respective positions as Chief Relaxation Officer and Chief Enthusiasm Officer. Plus, they are searching for new employees to join their hammock family, which is currently worth $4 million.