Here's What Went Down With The Comfy After Shark Tank

In 2017, brothers Brian and Michael Speciale joined forces to create a wearable blanket you can literally walk around in. The siblings created The Comfy, a blanket with arms and a hood, that's lined to keep people super comfortable and warm at the same time. "It's something that kind of just came out of nowhere from two single dads," Brian shared on the "Thrivetime Show" podcast. He revealed that they had the idea after seeing his son use one of Brian's hoodies to create a wearable blanket. The brothers then got the idea to use a blanket that was on the back of the couch and make a lining for the hoodie using it, which is how The Comfy was born.

The two had the idea but knew they needed some help to get it off the ground, which is when they came up with the idea to take it to "Shark Tank." The Speciales were so keen to get a Shark on board that it was only six months after they came up with the concept — and before it had even hit the shelves — that they appeared on the show. "We thought 'Shark Tank' was our best bet, so we came up with a pitch (and a song!), flew to Denver to audition, and made it through several months of vetting before we found ourselves in LA," the two told Classical Finance. And it's safe to say things certainly worked out.

Barbara Corcoran took a chance on The Comfy

It was during the 2017 Christmas special episode of "Shark Tank" that Brian and Michael Speciale pitched their super comfy idea to the Sharks. The siblings entered the Tank looking for $50,000 for a 20% stake in their business, and got off to a fun start that made the entrepreneurs laugh too, singing about their business idea to the tune of "Deck The Halls." One thing the Sharks didn't find so fun, though? At the time, they hadn't sold any products and were a few weeks away from actually launching.

But while zero sales may have spelled the end of another entrepreneur's time in the Tank, the Sharks still gave the duo a chance. But not everyone was convinced. Lori Greiner admitted she didn't think The Comfy was unique enough and was too similar to a Snuggy. Mark Cuban then noted that he thought the company would take too much work, and he too was out. Robert Herjavec was next to share his thoughts, admitting he didn't mind the similarity to other products, so he offered $50,000 for 50% of the company. But Boobypack investor Barbara Corcoran wasn't about to let Cuban snag the deal. She offered $50,000 for 30%. The two countered at 25%, but Corcoran wasn't willing to drop. That didn't seem to worry the siblings too much, though. They agreed to shake hands with Corcoran, and a deal was done.

The Comfy went viral online after Barbara Corcoran's investment

It's safe to say that the chance Barbara Corcoran took on The Comfy paid off. Brian and Michael Speciale's company saw big success following Corcoran's investment, but it didn't even all have to do with appearing on "Shark Tank." "While 'Shark Tank' has been great for business, it's certainly not the be-all-end-all. The bump in sales you get on the night of your airing is significant, but it dies out fairly quickly," the siblings told Classical Finance. They received more than 100 million video views the month after their episode aired — but not because of the show. "That had nothing to do with 'Shark Tank.' It had everything to do with big Facebook pages picking up a fun video we did demonstrating The Comfy, and spreading it around the world. In the span of 10 days, we had sold into more than 70 countries and were backordered for more than five months. The power of social media is very, very real," they shared.

The brothers also admitted they went against the advice Corcoran and her fellow Sharks gave them to stay away from retail. Despite her reservations, Corcoran used her connections and The Comfy ended up in the likes of QVC and Bed, Bath & Beyond, which resulted in a whole lot of cash. Michael Speciale told Forbes the company had brought in $20 million by the end of 2018, which grew to $65 million by 2020.

Despite early success, The Comfy almost went out of business

But despite seeing such huge success immediately after "Shark Tank," The Comfy actually came pretty close to going under. Michael Speciale admitted to Forbes that the company started struggling in 2021. "Even with all that revenue in the first four to five years, we were very close to being out of business ... to the point where we were going to dissolve the company, we were going to sell it," he said. Around the same time, Corcoran and Brian both left the business. And Michael didn't exactly have the highest praise for the Shark when things got tough. "She's a celebrity, is really what it came down to. When we truly needed her ... she refused," he claimed. With the company in trouble, Michael had to let go of 12 staff members.

But it sounds like Corcoran didn't regret her investment in The Comfy. In June 2023, she shared on "The Daniel Mac Show" that she considered her decision to invest in the company one of the best she's made on "Shark Tank." "They made me $468 million in three years," she claimed.

But The Comfy is still trading in 2023 after a rocky road

Despite a rough patch, The Comfy is still in business as of December 2023 — despite some stiff competition. Via its website, the business is still offering a range of wearable blankets for people of all shapes and sizes, as well as introducing traditional blankets to the range. In November 2023, the company even showed off special Holiday versions of its products, while it also created sports editions of The Comfy for different teams.

The company has also built up quite a following across its various social media pages. On Instagram, the brand has almost 53,000 followers, plus almost 40,000 on Facebook, though that account doesn't appear to have been updated since August 2023. Over on TikTok, The Comfy has around 43,000 followers. While there's no doubt the company has hit some rough times over the years, it seems as though Michael Speciale is still very much determined to make the business work.