What Happened to Pearachute After the Shark Tank Pitch?
What is Pearachute?
Pearachute is a monthly subscription service that helps parents and teachers find fun activities for their children.
It makes enrolling in these programs easier, and there are no cancellation fees up to an hour before the start of the course.
The programs are broad and appeal to a wide range of interests, including farm tours, stingray feeding, and dancing classes.
Pearachute collaborates with institutions or organizations to provide a restricted number of spots. Then, parents may schedule a time and date for their child to ride Pearachute.
Because Covid-19 has had an influence on contact classrooms, Pearachute has expanded its services to include virtual educational programs as well as online activities like Dungeons & Dragons.
The Chicago-based firm provides discounts on children’s activities, comparable to Groupon for kids, but on a subscription basis.
You are not forced 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.
Subscriptions are $79 per month for five lessons or $99 per month for unlimited classes.
Pearachute aims to be your go-to business if you’re searching for a discount on karate courses, a summer camp, or a day of activity.
Who Founded Pearachute?
Desiree Vargas Wrigley is the company’s creator.
Desiree Vargas Wrigley got her start in business at the age of 25 when she cofounded GiveForward.
GiveForward is a crowdsourcing website that helps people with unexpected medical expenditures.
She launched Pearachute after leaving GiveForward, which supports busy parents in keeping their children involved in safe and enjoyable activities.
Vargas Wrigley made this effort on both a personal and professional level, since she herself is a busy mother.
Vargas Wrigley is presently concentrating her energies on her new organization, P33, which supports disenfranchised persons in acquiring the cash they need to start their own businesses.
She founded the company as a result of her irritation with having to rush to complete events or cancel them at the last minute.
Parents choose activities for their children depending on their age, the duration of the activity, and categories such as art, dance, and sports.
What Happened to Pearachute at the Shark Tank Pitch?
Desiree entered Sharks in search of $500,000 in return for a 6% ownership in her company. This equates to an $8.3 million valuation.
She tells her story and outlines her company, and then the questions come.
In her first 126 days with the firm, she made $50,000 in sales. She works with 30 businesses to provide activities on her platform.
They are now only accessible in Chicago, but she plans to extend to other cities.
Kevin goes because she is unable to describe how she expects to expand.
Following Wrigley’s admission of an entrepreneurial endeavour from her history and subsequent exit, Barbara Corcoran expresses worry that she is not a true entrepreneur.
Sacca says he’d use such a service, but he’s not an investment, therefore he’s out.
Lori closes the gap, leaving just Mark.
Mark makes a $500,000 bid for a 20% share in the company. Desiree counters with 15%, and the transaction is finalized.
What Happened to Pearachute After the Shark Tank Pitch?
The agreement with Mark fell through just before the show aired.
His team looked to be concerned about the “newness” of the company. In the 24 hours following the original broadcast, she got more sign-ups than she had in the previous three months.
Soon after the episode aired, Desiree revealed that Pearachute will be moving to four more cities: Dallas, Kansas City, San Francisco, and Washington.
The company obtained $3.1 million in expansion financing from five different venture capital companies between 2019 and 2020.
As of November 2021, the firm operates in cities across the United States and makes $1 million in annual sales.
What is the Net Worth of Pearachute?
Pearachute has an estimated net worth of $2 Million.
Who are Pearachute’s competitors?
KidPass is one of Pearachute’s key rivals.
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Pearachute FAQS
What is Pearachute Company?
Pearachute is a monthly membership club that allows parents and caregivers to quickly find, schedule, and drop their children into the best kid programs in town.
What is the website address of the Company?
The website address is at www.pearachutekids.com
Where is Pearachute located?
The company’s headquarters are in Chicago, Illinois.
Where is Pearachute today?
She says that since its debut on Shark Tank, Pearachute has grown to five cities (Chicago, Dallas, Kansas City, San Francisco, and Washington) and generated around $2 million in funding.
What is Pearachute app?
Pearachute is a new Chicago-based fitness tracker software that was built to give their family with simple, on-demand class alternatives that would ultimately save them time and money.
Who is the owner of Pearachute?
Desiree Vargas Wrigley established and leads Pearachute. She established GiveForward.
Prior to founding GiveForward, she worked as an expert in collegiate entrepreneurship at the Kauffman Foundation and as an independent consultant for Arabella Philanthropic Investment Advisors. Latin American studies
How old is Desiree Vargas Wrigley?
She will be 39 years old in 2021.
When did Desiree Vargas Wrigley start Pearachute?
The idea came to her in 2006, and it took her roughly 18 months to have the guts to take the plunge and establish the firm.
When was Pearachute featured on Shark Tank?
Desiree Vargas Wrigley of Chicago, Illinois, the founder of Pearachute, pitched on Shark Tank in October 2017. S
He went into the Tank looking for a $500,000 investment in return for a 6% stake.
What is Pearachute’s mission statement?
Pearachute strives to be the go-to resource for parents seeking a safe and enjoyable activity for their children.
They help busy parents keep their children engaged in safe and enjoyable activities.
What platform does Pearachute use?
Pearachute is a smartphone app that links parents to a wide range of kid-friendly activities.
How does it makes money?
Parents pay a monthly fee ranging from $79 to $99 depending on the bundle they select.
The more activities people choose, the lower their monthly charge.
They also charge the providers of the activity packages with whom they have agreed to collaborate for each member who registers up for their programs through their platform.
Does Pearachute accept debit or credit cards?
Parents can pay with a credit card or using their PayPal account. For the time being, debit cards are not accepted.
Do they need to check children in?
YES. In order for Pearachute to know how much to pay children each month, they must be checked in or marked as a no show.
If a family fails to come, their portal will show them as a No Show.
How do they list a new activity?
To begin, go to their Menu and select Add New Listing. Fill out all mandatory fields. They should save and publicize their work. They will then be able to build a timetable for their activities on the Pearachute website.
How do they add a Birthday Party Listing?
Navigate to Menu — Add Birthday Party to add a birthday party to their menu.
Fill out all mandatory fields. They should save and publicize their work. They will then be able to post schedules for all of their available dates, which families may book.
Can they add a link to their Waiver?
Yes, under the Special Directions section of their activity description, they can include instructions on how to complete their waiver.
