DrumPants Shark Tank Net Worth 2023

The net worth of Drumpants is unknown as of 2022 since the company is no longer operational. According to , Lei and Tyler walked into Shark Tank demanding $150K for a 5% stake in the firm, indicating a $3 million value.

Drumpants appeared on Shark Tank in 2014, asking for a $150K investment in exchange for a 5% stake in the company. The valuation of Drumpants was $3 million when it appeared on Shark Tank.

However, Lei and Tyler left the Shark Tank stage without securing any deals from the Sharks. Drumpants earned large sales and excellent press coverage following its appearance on Shark Tank; however, it is no longer manufactured. Drumpants went out of business in December 2016.

They received two offers but did not secure any deals. The current net worth of Drumpants is unknown as the business has been out of operation since 2016.

What is DrumPants? Who Founded DrumPants?

Drumpants is a wearable sensor strip kit that attaches to garments and allows you to compose music by hand drumming anytime inspiration strikes, without the need for bulky equipment.

Drumpants is compatible with both mobile and desktop devices. Tyler Freeman, a talented drummer, created Drumpants as a prank, but it eventually led to him “seeing a future where music production fosters social connection.”

Tyler Freeman is a designer of interfaces that bring the body closer to the machine.

He is an inventor, engineer, and artist. He earned a Master’s degree in Digital Art and New Media from the University of California, as well as a Bachelor’s degree in Computer Science.

He is presently employed as a Software Engineer at Google. Tyler formerly worked as a software engineer and UX designer at Chronologic and as the CTO and co-founder of Tappur.

Lei Yu is the Director of Product Management at CaaStle and a revenue specialist in discovery and growth.

She has B2D and B2C expertise from Fortune 100 companies as well as start-ups such as Chariot and Neura.

Yu attended the University of Maryland College Park and majored in operations and marketing/marketing management. She was studying machine learning at Stanford in 2016.

 

They funded $74,000 on Kickstarter alongside Lei Yu, and then used design thinking to create a prototype. Their business approach was based on pre-orders, which resulted in 720 sales.

DrumPants Shark Tank Pitch

Tyler initially conceived the idea for DrumPants as a prank to startle his friends by creating rhythms while hitting his legs.

The early prototypes were massive, and it took six years for Freeman, Yu, and the DrumPants team to develop the technology.

There are two versions of the product available, a basic one priced at $100 and a fully Bluetooth compliant model at $230.

Yu and Freeman previously worked at various technology firms, including Google, but still have much to accomplish before DrumPants can reach consumers.

Lei and Tyler appeared on Shark Tank, requesting $150K for a 5% stake in the company, implying a $3 million valuation. Three individuals then played the Shark Tank theme on DrumPants and demonstrated the product.

They stated that the devices cost between $100 and $230 and that the firm was pre-revenue. Mr. Wonderful expressed concern that the technology was not sufficiently unique, while Lori Greiner believed the market was too limited.

Robert offered $150K for a 20% stake, while Daymond proposed a $250K deal for a 20% stake that involved licensing. Tyler preferred Daymond’s offer, while Lei was against it.

Robert offered his proposal once more, and Mr. Wonderful warned them against taking the deal. When they returned from a commercial break, Daymond had left, and Robert had withdrawn his offer.

Mark Cuban liked the product but was unhappy with the pair’s decision-making, so he left. Eventually, the pair left the show without receiving any offer.

Their Facebook Fan Page was last updated in 2016, and they shut down their business in December of that year.

DrumPants Net Worth

Lei and Tyler walk in and demand $150K for a 5% stake in the firm. This indicates a $3 million value.

DrumPants Competitors

Mictic, MI.MU Gloves, Heartkick and GripBeats are DrumPants Competitors.

Drumpants Shark Tank Updates

DrumPants is a wearable drum kit that uses touch sensors to play music. The founders of DrumPants, Lei Yu and Tyler Freeman of San Francisco, appeared on Shark Tank in October 2014, seeking an investment of $150,000 in exchange for 5% equity.

They received two offers from Robert Herjavec and Daymond John, but a deal wasn’t made.

After appearing on Shark Tank, DrumPants sold out of its DrumPants 2.0 Basic Kit and DrumPants 2.0 Pro Kits, which included six Bluetooth-enabled wearable drum triggers. However, there is no news on a 3.0 version, and the DrumPants social media accounts have been dormant since May 2016.

DrumPants went out of business in December 2016. Lei Yu is currently a Senior Product Manager at Chariot, where she’s building. Tyler Freeman’s current professional status is unknown.

DrumPants Shark Tank Summary:

INFORMATION	DETAILS
Company Name	DrumPants
Founder(s)	Tyler Freeman
	Lei Yu
Product	Wearable sensor strip kit for composing music by hand drumming
Valuation on Shark Tank	$3 million
Investment on Shark Tank	$150,000 for 5% stake
Competitors	Mictic, MI.MU Gloves, Heartkick, GripBeats
Net Worth (2022)	Unknown (out of business since 2016)
Shark Tank Deals	No deal made
Sales on Shark Tank	Pre-revenue
Shark Tank Season	6
Episode	3
Social Media Accounts	Dormant since May 2016
Kickstarter Funding	$74,000
Prototype Sales	720
Versions of the Product	Basic ($100) and Bluetooth-enabled ($230)
Current Status	Out of business since December 2016

DrumPants FAQS

What is Drumpants Shark Tank?

DrumPants is a wearable audio technology that allows users to play beats on their clothes and shoes. The product consists of two foot pedal sensors for inside the shoes and two drum pads that fit in the pockets, which are Bluetooth-wired to a control box.

The idea for DrumPants started as a prank when Tyler Freeman wanted to freak out his friends by banging out beats while slapping his legs. The first prototypes were bulky, and it took Freeman, Lei Yu, and the DrumPants team six years to perfect the technology.

DrumPants appeared on Shark Tank in season 6, where Lei and Tyler asked for $150,000 for 5% equity. Daymond John offered them $250,000 for 20% under the contingency that the technology would be licensed.

However, the deal did not go through, and DrumPants did not receive any investment from the Sharks. After the show, DrumPants earned large sales and excellent press coverage, but it is no longer manufactured.

In conclusion, DrumPants is a wearable audio technology that allows users to play beats on their clothes and shoes.

Although it appeared on Shark Tank and received an offer from Daymond John, the deal did not go through, and DrumPants did not receive any investment from the Sharks. Despite its initial success, DrumPants is no longer manufactured.

What Is The Current Valuation Drumpants Shark Tank?

DrumPants appeared on Shark Tank in 2014, asking for a $150K investment in exchange for a 5% stake in the company. The valuation of DrumPants was $3 million when it appeared on Shark Tank. However, Lei and Tyler left the Shark Tank stage without securing any deals from the Sharks.

After the show, DrumPants earned large sales and excellent press coverage, but it is no longer manufactured. The current net worth of DrumPants is unknown as the company is no longer operational.

How Does Drumpants Shark Tank Works?

DrumPants is a wearable sensor that connects to a smartphone speaker and allows the user to play music by tapping the trigger button. The device is hidden under the user’s clothes, and the sound is produced by a small speaker, HDMI connection, and headphone jacks.

DrumPants consists of two foot pedal sensors for inside the user’s shoes and two drum pads that fit in their pockets. The sensors and pads are Bluetooth ‘wired’ to a control box that stores over 100 sounds, including drums, synthesizers, pianos, and guitars.

Lei Yu and Tyler Freeman, the co-founders of DrumPants, appeared on Shark Tank in episode 603, asking for $150,000 in exchange for 5% equity in their company. The Sharks were skeptical about the product’s broad appeal and questioned if there would be many people interested in it.

Despite the skepticism, DrumPants was a successful Kickstarter business, raising $74,236 in January 2014. In the Shark Tank episode, Lei and Tyler demonstrated how DrumPants worked and asked the Sharks to invest in their company.

However, the Sharks withdrew their offers, and the co-founders left the show without a deal.

After appearing on Shark Tank, DrumPants continued to develop its product and expand its business. In 2022, the company had a $3 million valuation and $25,000 in pre-revenue sales. The product has other uses beyond music, such as controlling other devices.

DrumPants is still available for purchase on its website, and the company continues to innovate and develop new products.

What Happened To Drumpants After Shark Tank?

DrumPants appeared on Shark Tank in 2014, where the founders, Tyler Freeman and Lei Yu, asked for $150,000 in exchange for 5% equity in their company.

The Sharks thought that the product wouldn’t have a broad appeal, and questioned if there would be many people who would want to wear the device. The Sharks offered deals that were retracted because of indecisiveness, and the founders left without a deal.

After the show, DrumPants continued to develop their product and expand its uses beyond music. However, research for a DrumPants update in 2023 revealed that the company appears to have gone out of business, and social media accounts have not been active for a very long time.

Their website still says they are sold out and will notify people when they have more available.

Is Drumpants Still In Business?

The information from the search results is conflicting. Some sources suggest that DrumPants is no longer in business and that their social media accounts have not been active for a long time. However, one source indicates that DrumPants is still available for purchase on their website.

It is unclear which information is accurate, but it seems that the company may have faced some challenges and may have undergone changes since appearing on Shark Tank.

DrumPants, did you secure a deal on Shark Tank?

DrumPants creators Lei Yu and Tyler Freeman of San Francisco appeared on Shark Tank in October 2014.

They went into the Tank looking for a $150,000 investment in return for a 5% stake. They received two offers: one from Robert Herjavec and the other from Daymond but wasn’t made.

Is DrumPants still in business?

This business shut down in December, 2016.

How much did they make on Shark Tank?

Tyler and Lei weren’t able to secure a deal with the Sharks on their appearance, therefore, they left without an investment.

Who founded DrumPants?

Tyler Freeman and Lei Yu are the founders.

How much does it costs to make and sells?

There are two types available: a basic device for $100 and a fully Bluetooth compliant one for $230.

What is DrumPants Competitors?

Mictic, MI.MU Gloves, Heartkick and GripBeats are DrumPants Competitors.

Where is DrumPants based?

The business is headquartered in San Francisco.

Who are DrumPants investors?

There is no investors.

What were strengths of DrumPants?

They were makers of bass drum pads.

What were weaknesses of DrumPants?

They had no funding.

What websites are associated with DrumPants?

They have no websites.

Does DrumPants use Kickstarter sites?

DrumPants use Kickstarter to finance their business.

Why did DrumPants fail?

They closed because they went into the Shark Tank pitch and didn’t receive an investment.

Is DrumPants a fake company?

DrumPants is real company, founded in 2012 by Lei Yu and Tyler Freeman. They had funding of $74,000 to produce their DrumPants invention.

They are based in San Francisco, California.

Is DrumPants on the Stock Exchange?

No, they are not listed on any Stock Exchange.

What was DrumPants’ business model?

The business strategy was to offer their products directly to the customer. They forecasted $220,000 in sales for the year 2014.

What is DrumPants’ net worth?

The Company net worth is unavailable.

What exactly is DrumPants?

DrumPants are wearable devices that have the feature of activating the beat of a drum when they hit.

What is DrumPants’ revenue?

They are no longer available.