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Best of Shark Tank: Apps

Simple Habit Shark Tank Update: What Happened After Shark Tank?

Summary

SEASON 9 EPISODE 1
PitchMindful meditation app
EntrepreneurYunha Kim
Asked For$600,000 for 5%
DealNO DEAL
SharkNO SHARK
StatusIN BUSINESS

Company Background

What is Simple Habit?

Simple Habit is a mindfulness meditation app offering a library of over 1600+ guided meditations to help with a variety of life issues including stress, weight loss, relationships and even better sleep.

Who Owns Simple Habit?

Simple Habit was founded by Yunha Kim, a seasoned entrepreneur who sold her previous startup Locket, to online shopping app giant, Wish. Today, Yuhna remains the CEO of Simple Habit.

Founder’s Story

Simple Habit was founded in 2016 by Yuhna Kim after the stress and burnout shes experienced while building her first startup, Locket. Locket, which began in 2013, was a lock-screen app that displayed news and notifications on a phone’s lock-screen. Locket was eventually acquired by Wish – mobile shopping app, in 2015. In 2016, Yuhna appeared on Shark Tank to pitch Simple Habit in what would become one of the craziest pitches on the show.

What Happened After Shark Tank Update

Did Simple Habit Get a Deal on Shark Tank?

In Season 9 Episode 1, Yunha Kim entered the Shark Tank seeking a $12 million valuation for her meditation app, Simple Habit, but left the Tank without a deal after arguments erupted over her intentions for being on the show.

Simple Habit Controversy

Simple Habit received a huge spike in interest following the Shark Tank episode which also included Yunha being labelled a “gold-digger” by Mark Cuban shortly before Mark is doused with a glass-full of water by guest Shark, Sir Richard Branson.

Mark received a lot of backlash for the comment but it seems he is one of many on board with the gold-digger designation. In 2017, Joe Burton, founder of Whil – a meditation app, detailed in a letter to Observer, Yunha Kim’s unscrupulous tactics to build and promote Simple Habit.

Is Simple Habit Still in Business?

Despite the negative press, Simple Habit has remained at peace. The app has experienced a surge in users with over 2.5 million Android downloads to date and has also raised an additional $10 million in Series A funding, bringing total funding for the meditation company to nearly $13 million.

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