Flying high with the sharks
A SYDNEY Jewish mum of two has emerged from the shark tank boasting a business deal with leading investor Janine Allis.
Emma Lovell is the creator of Fly Babee, a pop-up sleep cover that attaches to all types of strollers and to airline bassinets. It blocks out 97 per cent of light and movement, is 100 per cent breathable, and is designed to ensure that babies and toddlers sleep easily while travelling.
She appeared on the popular Channel 10 program Shark Tank on Sunday April 26, with her pitch capturing one of the sharks in Boost Juice founder Allis.
She originally sought $50,000 for a 10 per cent stake in the business, but Allis offered $100,000 for 50 per cent. Viewing this as too large a stake, the offer finally landed on was $80,000 for 38 per cent with the condition that Lovell works wage-free for two years, after which point Allis’ share would be reduced to 35 per cent.
Lovell was thrilled with the outcome. “The fact that someone else who is so business savvy believed in my product enough to invest was an awesome feeling,” she said.
“After having worked on the project for three years, it was a great moment to finally have this feedback. To be aligned to someone like Janine is a dream come true.”
Allis is similarly pleased with the partnership. “Not only do I think that the Fly Babee product is unique, innovative and solves a major problem that all of us mothers have faced or will face in the future, but the inventor Emma has that X factor that you just know the business will be a huge success,” she enthused.
Lovell, originally from the UK, hatched the idea for Fly Babee after travelling extensively with her young daughter Aimee.
Sadly, during Aimee’s first trip to the UK, Lovell’s mother was diagnosed with terminal cancer. Lovell elected to relocate to the UK to be with her mother during her illness, but with husband Phil back in Australia, the family endured four trips back and forth between the two countries that year.
Lovell always had a difficult time getting Aimee to sleep during these flights, and felt passionately about creating a solution.
AJN STAFF
Emma Lovell (left) and Janine Allis.
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