How is My Pillow doing financially? Check Latest Update

If you want to know how My Pillow is doing financially, you have stumbled upon the right article.

Recently, Mike Lindell again came into the limelight when he started raising questions against electronic voting machines. He started quoting many false facts about the votes that Donald Trump got in a recent election.

Due to this, his company started facing many financial crises in 2023. So, with this article, let us share all about the financial condition of My Pillow and more.

How is My Pillow doing financially?

Metric	2022	2023 (projected)
Revenue	$1.4 billion	$550 million
Net income	$120 million	$65 million
Losses from boycotts	$250 million	$65 million
Losses from lawsuit	$0	undetermined

In a recent interview with Insider, Mike Lindell said,  ”MyPillow’‘ is facing a financial crisis, and our company is expected to lose $65 million in pillow revenue this year alone.

He also told the reason behind that the other companies like Kohl’s and Bed Bath & Beyond are boycotting MyPillow products and pulling MyPillow products from their stores.

 

Lindell continued, “I lost 20 retailers, and it’s cost me $65 million this year that I won’t get back, OK?” He added, “There’s your story. Print it right. Don’t try and twist this”.

After that, this string of bad luck still stuck with Mike Lindell. Following this loss, a voting technology company filed a $1.3 billion lawsuit against Mark Lindell for spreading fake news about the company’s involvement in election fraud.

In addition, he is facing a legal challenge from an election technology company named Smartmatic, which Lindell also targeted by saying that it had committed election fraud.

From then on, MyPillow started getting stuck in deep trouble, so the company started feeling in a financial crisis.

Is My Pillow in financial trouble?

Mike Lindell, who is the owner and the lead investor of the company MyPillow, has grown his company with his hard work and patience.

In 2011, companies released its cost, which is estimated to be around $500,000. 

In 2017, Lindell expanded his company, and his company reportedly sold $100 million worth of pillows. And in 2017, his company made a revenue of $280 million.

However, the company started facing a crisis in 2020 when Mike Lindell started supporting Donald Trump and spreading rumours that the 2020 elections were stolen from him.

Due to his statements, many companies started breaking their partnerships with My Pillow, which provided half its revenue; the company made around $550 million in 2022.

It’s unclear how much the company has lost in 2023. Still, after losing partnerships with big companies and facing several lawsuits from election technology companies, My Pillow is facing financial trouble.

After losing millions, Mike Lindell also auctioned My Pillow equipment at half their prices, which didn’t go well.

Overview of My Pillow

One of the most prominent companies in the field of pillow manufacturing in America is MyPillow. It is an American company located in Chaska, Minnesota.

Mike Lindell is the person who founded this company in 2009, and later, he patented his company as MyPillow, an open-cell and poly-foam pillow design.

In the early days, Mike Lindell himself sewed the pillow with his hands, and then, with the help of his family members, he was able to sell that handmade pillow.

From 2004 to 2009, MyPillow sold its products through a different platform named Lindell’s Night Moves Minnesota, LLC, and then after that year 2009, they started selling their products through Mypillow, Inc.

Till now, MyPillow sold about 41 million pillows, and most of their sales come from TV commercials.

During the initiating period, Lindell started MyPillow at a small level in 2004. Later, in 2017, Lindell organized about 1500 employees in his company, and that’s how MyPillow started its journey of achieving greater heights in its career path.

At present, the worth of the company Mypillow is around $100 Million. This could have been more, but due to losing partnerships with big retailers and facing lawsuits, the company is facing financial issues.