DreamPad

Next up is Randall Redfield of DreamPad, seeking $800,000 for 10 percent equity.

DreamPad helps improve sleep by turning music into soothing vibrations. The therapeutic pillow uses sleep technology that not only enhances sleep, but reduces stress. According to their website, “Dreampad was initially designed as a relaxation tool for children with high levels of anxiety, including those with trauma and autism.” It has since become a relaxation tool for thousands of people. Users simply download the DreamPad app, set their music and timer and connect it to their DreamPad pillow for a good night’s sleep. The hi-tech pillows cost $129.

The sharks all agree that the music was very soothing but Kevin O’Leary questions the high valuation. In less than a year, they have done $600,000 in sales but the sharks still view Redfield’s projections as more of a nightmare than a dream. Guest shark Bethenny Frankel thinks the valuation is “delusional.”

Mark Cuban goes out, followed by Robert Herjavec, who calls the valuation “nuts.” O’Leary and Frankel go out as well. Lori Greiner says she likes the quality and concept, but cannot get over the valuation. She asks him to update the offer and he goes down to 15 percent for the same amount of money. She goes out.

Social Media Reacts to DreamPad’s Appearance on “Shark Tank”

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.

Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.

“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.

Would you use DreamPad? Sound off in the comments section below!