The Elephant Pants Shark Tank Tale

Shark Tank Pitch Recap

In Season 8 Episode 18, Nathan Coleman and James Brooks appeared on Shark Tank seeking $500,000 for 10% of their save the elephants pants, Elephant Pants.

Here’s a quick recap before we dive into the Elephant Pants Shark Tank update.

• : He commends them for getting to $7 Million in sales but he’s got to invest in products that he at least likes.
  Out
• : He congratulates them on what they’ve done, but he believes Facebook advertising is volatile and risky.
  Out
• :
  Offer 1: $500K as a line of credit + 5% equity
  Offer 2: $500K for 20% equity
• :
  Offer: $500K for 20%
• : She proposes joining another Shark if they will let her.
  
• : He teams up with Lori and they make an offer
  Offer: $500K line of credit at 12% interest and 10% equity
• : He suggests that Daymond, Lori and Kevin go into the deal together
  Counter Offer: $500K for 15%
• : He rejects the counter offer. He doesn’t need help in this space.
  
• :
  Counter Offer to Kevin and Lori: $500K for 12%
• :
  Counter Offer to Daymond: $500K for 12%
• : He is willing to fund production.
  Counter Offer: $500K for 17.5%
• Kevin and Lori take their offer off the table and go out.
• : He presents Daymond with another counter offer.
  Counter Offer: $500K for 15%
• : He suggests they propose advisory shares if they’re concerned about their other investors.
• : He makes up the difference in equity through advisory shares and presents Daymond with a final counter offer.
  Counter Offer: $500K for 15% + 2.5% advisory shares
• Daymond accepts their counter offer.