DrumPants is wearable technology. The company builds sensors that go into your clothes and allows you to put their platform in any clothes and become a musical instrument.
DrumPants is wearable technology
Their interface uses Bluetooth to connect to the sensors which worn on your body, or in your shoes. Make music wherever you go.
DrumPants launched a Kickstarter campaign and raised $75,000. They are taking pre-orders on their packages that range from $99 to $299.
DrumPants have several provisional patents, representing the rhythmic gestures to control different aspects of your device.
The electronic music scene is growing, and the musicians are working to get away from being behind the computer.
They have sold 720 units and projecting 4,000 units sold for $220,000 of profit.
Company: DrumPants
Entrepreneurs: Lei Yu and Tyler Freeman
Website
Ask: $150,00 for 5% equity
Companies in this episode: SoapSox, Heart Pup, Ninja Cards
Season: Season 6 Episode 603
Sharks: Mark Cuban, Daymond John, Kevin O’Leary, Lori Greiner, Robert Herjavec
First Aired: 10/03/2014
Deal: Offers that were retracted because of indecisiveness
What do the Shark Tank Investors say about DrumPants
Mark Cuban thinks Robert’s offer is a great offer and they may lose that. Mark likes the product, but he doesn’t appreciate their ability to make decisions. He is out.
Daymond John will offer them $250,000 for 20% if you are interested in licensing the technology. Daymond goes out when they ask Robert to lower his deal.
Kevin O’Leary thinks they have tons of competition and he won’t pay $3 million for their company; he is out.
Lori Greiner thinks their market is to niche, and she likes broad markets. She is out.
Robert Herjavec is not that interested in the drum pants. He is thinking of the next step. He offers $150,000 for 20% equity. Robert sees this deal as a proof of concept right now, and the future product is a big deal. They counter Robert at 15% at $150,000. Robert said he would stay where he is with his offer. Robert withdraws when they ignore him and look to Mark after Daymond. They leave without an offer.
DrumPants after Shark Tank
It appears that DrumPants is no more. They still have their website saying they are sold out and will notify people when they have more available. The Facebook Fan Page was last updated in 2016.
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