Whatever Happened To BedJet After Shark Tank?
There's no feeling that compares to the comforting joy of a good night's sleep, but that can be taken away in an instant if you're either too hot or cold under the covers. Thankfully, entrepreneur Mark Aramli has an innovative solution to fit sleepers' needs everywhere with his company, BedJet. Its namesake item acts as a climate control system for beds. The BedJet sits underneath your bed and sports an air duct that goes into your covers. Using the accompanying smartphone app, the BedJet distributes the desired temperature throughout your bed with ease. For couples, BedJet even has an option that designates differentiating temperatures to either side of the mattress.
Aramli's motivation for developing the product came while his mother was bedridden following surgery. The Connecticut home she resided in was drafty, and it was a hassle to keep her comfortable using traditional means such as heating pads and electric blankets. From there, Aramli, who had prior experience working as a climate control suit engineer for NASA, spent over a year developing a better solution, even mortgaging his home and emptying out his retirement savings to fund initial production. Additionally, he started a Kickstarter campaign in December 2013 that brought in well over $58,000 on a $38,000 goal. Before production officially began, however, he would appear on what would become one of the most chaotic pitches in "Shark Tank" history.
BedJet got one of the show's worst beatings
There are good "Shark Tank" pitches, there are bad "Shark Tank" pitches, and then there's BedJet, which deserves to be in a class of its own within the pantheon of the show's most disastrous presentations. As with most pitches, things start well for Mark Aramli, who is seeking $250,000 for a 10% equity stake in his company. Mark Cuban, Lori Greiner, and Robert Herjavec all have a go with the product and largely enjoy its simple application.
The potential investors aren't as comforted when they hear BedJet has yet to go into production. However, Aramli informs them he's made $50,000 in sales from the Kickstarter campaign. He throws the sharks into an even bigger frenzy when he shares that the product is planned to retail at $499, with Barbara Corcoran noting that it costs more than the mattress itself. Nevertheless, Aramli chugs on and describes the success they've found while attending trade shows. All the major bedding manufacturers commented positively on the product, and requests for buyer samples have been coming in, including a $1.1 million purchase order from A.H. Beard, Australia's largest mattress company. Kevin O'Leary still can't get over the price point, saying, "The devil himself won't pay you for that."
Lori Greiner tries getting a question in, but Aramli's attention goes to O'Leary and Corcoran, who are also shooting out remarks. Upset that she's being ignored, Greiner goes out. The other sharks follow suit, not seeing any merit within the product, even for premium mattress buyers. Aramli attempts to appease Greiner and tell the sharks about their retail partnerships, but they don't take the bait, and he leaves without a deal.
BedJet proved the sharks wrong almost immediatley
Even after "Shark Tank," Mark Aramli wasn't free from the sharks' wrath. On the night of the episode's airing on February 3, 2015, Kevin O'Leary took to Twitter and commented, "This guy is out of his mind! I predict a very slow & painful death for A LOT of money & I refuse to be a part of it!" Lori Greiner was enraged towards Aramli for how ignorantly he acted while trying to ask him a question. She let loose an especially rough tweet (via Business Insider) saying, "If you valued me, you would have answered my questions. 1st time I was ever really pissed off by an entrepreneur in the tank! #badtoberude."
While Aramli felt bad for not answering Greiner, he also believed the show did a poor job of representing his situation. In a 2019 interview with Standing Out Podcast, the entrepreneur stated, "What most people don't realize on 'Shark Tank,' they're firing questions at you, they're shouting over each other. You don't see it because they edit the mics." He added that he felt Greiner was trying to make an example out of him more than anything.
Despite the drama — or perhaps because of it — BedJet became a near-overnight sensation amongst the show's fanbase and beyond. Aramli received an overwhelming amount of emails, phone calls, interested buyers, and supporters who felt he was wronged on the show. The day following the "Shark Tank" episode, BedJet closed its deal with MattressFirm to start selling the product on its website. By the end of 2015, the company made $1 million and managed to triple that in 2016, in large part due to bringing prices down to $299.
Is BedJet still in business?
BedJet is still very much up and running today. Since its time on "Shark Tank," the company has evolved its product lineup far beyond its flagship item. Currently, the BedJet is in its third generation, following a massively successful 2018 Kickstarter campaign that raised over $882,000 from 2,190 backers. Alongside this and the dual system variety, BedJet also sells an array of accessories and an aromatherapy kit and has even introduced an adjustable bed frame option. Its products can also be found on Amazon.
Reviews on BedJet have been overwhelmingly positive. On its website, the BedJet holds a 4.7 out of 5-star average rating and a 4.3 average on Amazon based on over 2,400 reviews. Many describe the product as a lifesaver for those who suffer from night sweats and that, contrary to Mr. Wonderful's complaints, it is sold at a fair price compared to the competition.
By 2020, BedJet had sold its 100,000th unit, fulfilling Mark Aramli's vision of the company becoming bigger than any of the sharks could have predicted. In an interview with What's Up Newp, Aramli stated, "The [sharks] would have made 20 times their investment with BedJet so far, and our team is incredibly grateful to have been one of the big deals that got away from the 'Tank.'" Others have viewed BedJet in a similar light, joining businesses such as Ring and Copa di Vino as one of the most successful "Shark Tank" rejects. Today, BedJet is estimated to have a net worth of $30 million.
What's next for BedJet?
BedJet will perhaps remain a crowning example for "Shark Tank" viewers and entrepreneurs alike that the sharks' opinions should never be seen as the be-all and end-all for a company. There's no denying the investors' experiences within the business world give them a high level of credibility, but it is the presenter who should be one or two steps ahead of them when approaching their specific industry. Mark Aramli has more than proven to be one of these individuals, bringing his own level of expertise to the table despite the hurdles.
This is especially significant considering that BedJet is in a category that many consumers don't have much awareness of to begin with. Yet, Aramli sees this as an asset, seeing his brand's potential to dominate the market. When asked by The Money Street about his vision for the company's future, Aramli answered, "I believe we are already the market leader for climate control bed technology in the USA. We want to triple our revenue next year and introduce a new product line. In five years, I hope to be a $40 million-dollar-a-year, healthy, mid-sized business." Aramli has also never hesitated to thank BedJet's customer base for their continued support, even writing a thank you letter in 2019. Whatever the future holds for BedJet, buyers can sleep happily knowing that its founder has their best interests at heart.