Pandaloon Shark Tank Updates 2022: Pandaloon Accepts $60000 Offer from Daymond John!!!

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pandaloon shark tank update

What Is Pandaloon?

Pandaloon is a company specializing in the creation of adorable dog costumes. The most popular costume is the panda bear outfit. Pandaloon was created by Eugenia Chen, a content creator at Huxley the Panda puppy. When she founded the company, she was a college math professor.

Ms. Chen is a University of California, San Diego graduate. San Diego State University also granted her a Master of Business Administration in Computational Science. She is currently concentrating on running Pandaloon. Eugenia published a YouTube video of her pet disguised as a panda bear roaming about her home.

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With over 140 million views, the video became a worldwide phenomenon. It led to an increase in internet traffic and brought her company to global prominence. Due to its combination of sweetness and humor, a video of a dog running while wearing a Pandaloon panda costume has gone viral.

Who Is the Pandaloon Founder?

pandaloon shark tank update

Pandaloon was founded by Eugenia Chen, a content creator at Huxley the Panda puppy. When she founded the company, she was a college math professor. Ms. Chen is a University of California, San Diego graduate. San Diego State University also granted her a Master of Business Administration in Computational Science. She is currently concentrating on running Pandaloon.

Chen appears to be infatuated with everything panda-related, but her product line also includes products featuring other animals. Chen maintains a small business in Southern California that sells apparel, accessories, and pet costumes with panda motifs.

The company’s notoriety was built because of the pet costumes. Chen was a community college math instructor when she made a panda outfit for her Pomeranian, Huxley. She captured him running about her home on camera, and the resulting video has over 40,000 views.

Her website’s popularity skyrocketed, putting the company on the map. She now spends all of her time on her panda-themed business. Additionally, Pandaloon sells polar bears, teddy bears, and lion costumes. There are three sizes available, depending on your dog’s size.

She also sells merchandise for humans, like T-shirts, slippers, hats, and socks. There are also dog harnesses and carrying bags available. Her commitment to pandas extends beyond her business; a portion of each sale is donated to Pandas International.

What Happened to Pandaloon at The Shark Tank Presentation?

While surfing the wave of her Internet fame has kept her busy, she chose to pitch her idea to the investors on Shark Tank in order to continue to develop and thrive in the future.

Eugenia enters the Tank requesting $60,000 for a 20 percent ownership in her $300 million enterprise. She apologizes for her business partner’s tardiness, and then Huxley in panda costume appears.

After the Sharks chuckle, she resumes her explanation and pitches. She then gives Lori Huxley and distributes samples. Kevin asks her why she has a business instead of using her degree, and she says that it was difficult to get employment during the recession.

She is currently creating the most recent round of costumes. In addition, she mentions that they cost $4 to produce and will be sold for $39.99. In three years, she sold apparel valued at $300,000. She needs the funds to purchase Halloween supplies.

Kevin claims he has never understood why individuals dress up rat dogs in costumes. “That’s strange,” he remarks, and he is the first Shark to go. Mark is next to be let go since he is not a good match for the position. She has quit because she does not believe there is a market for it. As evidenced by the laughter of the Sharks, Daymond asserts that the costumes provide people joy.

In exchange for 35 percent ownership of the business, he is providing $60,000, of which 10 percent will be donated to animal-related charities. Following Sara’s proposal of $60,000 in exchange for a 30 percent equity stake, Sara and Daymond explore partnering. When Daymond decides to maintain his offer and Eugenia accepts, both parties conclude the transaction.

What Became of Pandaloon Following Shark Tank?

Following the enthusiasm of the pitch, the agreement with Daymond was finalized, and the costumes sold out by the anticipated air date. They can be purchased on Amazon.com. Remember Me Thursday, a pet adoption advocacy group in which Daymond is active, and the Petco Foundation, where Daymond serves on the board of directors, will get a share of the charitable contributions.

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Eugenia continues to bring Huxley to pet exhibitions and regularly meets other dressed dogs. In 2021, the company continues to operate and makes $900,000 in annual revenue.

Net Worth of Pandaloon

During the pitch, the company was valued at $400,000; after Daymond’s acquisition, it was at $171,427.

Since then, the company has generated $900,000 in sales in 2021, indicating that its net worth has increased.

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