Pearachute Shark Tank Update | Pearachute after the Shark Tank Pitch
What is Pearachute?
Pearachute is a monthly membership service that assists parents and instructors in locating enjoyable activities for children.
It simplifies the process of enrolling in these programs, and there are no cancellation costs up to an hour before the start of the lesson.
The lessons are varied and cater to a variety of interests, ranging from farm excursions to stingray feeding to dance classes.
Pearachute partners with universities or organizations to give a limited number of slots. Parents may then reserve a time and date for their child to ride Pearachute.
Due to the fact that Covid-19 has impacted contact classrooms, Pearachute has expanded its offerings to include virtual educational programs as well as online activities such as Dungeons & Dragons.
Desiree Vargas Wrigley got her start in business when she cofounded GiveForward at the age of 25.
GiveForward is a crowdsourcing platform that assists individuals with unforeseen medical expenses.
After leaving GiveForward, she founded Pearachute, which assists busy parents in keeping their children engaged with safe and engaging activities.
Vargas Wrigley made this investment on a personal and professional level, since she is a busy mom herself.
Vargas Wrigley is currently focusing her efforts on her new firm, P33, which assists marginalized individuals in obtaining the capital necessary to launch their businesses.
She created the firm in response to her frustration with having to hustle to complete events or cancelling them at the last minute.
Parents select activities based on their child’s age, the activity’s duration, and categories such as art, dance, and sports.
Who Founded Pearachute?
Desiree Vargas Wrigley is the founder of the company.
What happen to Pearachute at the Shark Tank Pitch?
The Chicago-based company offers discounts on children’s activities — similar to Groupon for kids but with a subscription model.
The secret sauce is that you are not required to commit to a single class, activity, or camp for more than one event or day, and you can “check out” up to an hour in advance.
Monthly subscriptions are $79 for five lessons or $99 for unlimited classes.
Whether you’re looking for a discount on karate classes, a summer camp, or a day of activity, Pearachute wants to be your go-to business.
Desiree joins Sharks seeking $500,000 in exchange for a 6% stake in her firm. This shows a valuation of $8,333,333.33.
She describes her business and her tale, and then the questions begin.
She has made $50,000 in sales in her first 126 days in company. She collaborates with 30 companies to deliver activities on her platform.
They are now only available in Chicago, but she intends to expand to further locations.
When she was unable to define how she intends to expand, Kevin leaves.
Barbara Corcoran expresses concern that Wrigley is not a real entrepreneur following Wrigley’s disclosure of an entrepreneurial venture from her background and subsequent exit.
Sacca says he would utilize such a service, but he is not an investment; he is out.
Lori follows closely behind, leaving only Mark.
Mark makes an offer of $500,000 for a 20% stake in the firm. Desiree counters with 15%, and the deal is completed.
Pearachute after the Shark Tank Pitch
The arrangement with Mark fell through just before the airing of this episode.
His crew appeared to be apprehensive about the business’s “newness.” She received more sign-ups in the 24 hours following the original broadcast than she had in the preceding three months.
Desiree announced shortly after the show aired that Pearachute would be expanding to four additional cities: Dallas, Kansas City, San Francisco, and Washington.
Between 2019 and 2020, the company raised a total of $3.1 million in growth capital from five distinct venture capital firms.
As of November 2021, the company operates in cities throughout the United States and generates an annual revenue of $1 million.
Pearachute Net Worth
Pearachute has an estimated net worth of $2 Million.
Pearachute main competitors is KidPass.
What is Pearachute Company?
Pearachute is a monthly membership club that enables parents and caregivers to easily locate, schedule, and drop into the greatest child programs in town.
Consumer Services Industries Company size ranges from one to ten employees. Headquarters are located in Chicago, Illinois.
Where is Pearachute today?
She claims that Pearachute has expanded to five areas following its appearance on Shark Tank (Chicago, Dallas, Kansas City, San Francisco, and Washington) and has raised around $2 million in investment.
What is Pearachute app?
Pearachute is a new fitness tracker app located in Chicago that was created to provide their family with simple, on-demand class alternatives that will eventually save them time and money.
Who is the owner of Pearachute?
Pearachute was founded and is led by Desiree Vargas Wrigley. She founded GiveForward.
Prior to establishing GiveForward, she worked at the Kauffman Foundation as an expert in college entrepreneurship and as an independent consultant for Arabella Philanthropic Investment Advisors. Studies of Latin America.
How old is Desiree Vargas Wrigley?
She is 39 years old as of 2021
When did Desiree Vargas Wrigley start Pearachute?
The idea came to her in 2006, and that took her about 18 months to really get up the courage to just leap and start the business.
When was Pearachute featured on Shark Tank?
The founder of Pearachute, Desiree Vargas Wrigley of Chicago, Illinois, pitched on Shark Tank in October 2017. S
He went into the Tank seeking a $500,000 investment in exchange for 6 percent equity
What is Pearachute’s mission statement?
Pearachute aspires to be the go-to source for parent’s looking for a safe and fun activity for their kids.
They assist busy parents in keeping their children engaged with safe and engaging activities.
What platform does Pearachute use?
Pearachute serves as a mobile app that connects parents with a variety of child-friendly activities.
How does it makes money?
Parents are charged a monthly fee ranging from $79 to $99 depending on the package that they choose.
The more activities that they select, the cheaper their monthly rate.
Additionally, they charge the providers of the activity packages that they have agreed to work with for each member who signs up for their programs through their platform.
Does Pearachute accept debit or credit cards?
Parents can pay using either a credit card or PayPal account. For now, they don’t accept debit cards.
Do they need to check children in?
YES. Children must be checked in or recorded as a no show in order for Pearachute to know how much to pay them each month.
If a family fails to appear, they will be marked as a No Show in their portal.
How do they list a new activity?
To begin, navigate to their Menu — Add New Listing. Complete all required fields. Save and publish their work. They will then be able to create a timetable on the Pearachute website for their activity.
How do they add a Birthday Party Listing?
To add a birthday party to their menu, navigate to Menu — Add Birthday Party.
Complete all required fields. Save and publish their work. They will then be able to add schedules for all of their available dates for booking by families.
Can they add a link to their Waiver?
Yes, they can provide instructions on how to complete their waiver in the Special Instructions portion of their activity description.
What is the net worth of Desiree Vargas Wrigley?