Pearachute Kids Classes Update | Shark Tank Season 9

Desiree Vargas Wrigley struggled to find flexible children’s activities for her own kids, which led her to create Pearachute. It’s a subscription service offering a curated selection of children’s classes with last-minute booking and cancellation options available. Will the sharks want to drop into a class? Let’s find out in this Pearachute update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Pearachute after Shark Tank.

Desiree Vargas Wrigley sought $500,000 for a 6% stake in Pearachute on Shark Tank Season 9. Negotiations led to a deal with Mark Cuban for $500,000 for 15% equity.

In terms of a Pearachute update, shortly after Shark Tank, the company expanded nationally and secured additional funding. However, Pearachute ultimately closed its doors in June 2022, and Desiree has since moved on to a new role at P33.

Shark	Result
Mark Cuban	Accepted offer of $500,000 for 15% equity
Barbara Corcoran	No offer
Lori Greiner	No offer
Chris Sacca	No offer
Kevin O’Leary	No offer

Shark Tank Pearachute Pitch

• Entrepreneur: Desiree Vargas Wrigley
• Business: Booking service for children’s classes
• Ask: $500,000 for 6% equity
• Result: $500,000 for 15% equity
• Shark: Mark Cuban

During the pitch, Desiree gave a back story about her company, Pearachute. She explained that it’s a relatively young company, having been operational for less than a year, and poised to disrupt the children’s activity market.  

She reveals her entrepreneurial spirit by mentioning her experience before launching Pearachute—founding GiveForward, one of the very first platforms of its kind in the crowdfunding space. 

Desiree goes on to explain Pearachute’s business model. Unlike Groupon, which focuses on one-time deals, Pearachute operates with a monthly subscription. 

This subscription grants access to discounted children’s activities in the Chicago area. 

Pearachute’s key advantage is its flexibility. 

Parents can choose individual classes or activities without long-term commitments. Additionally, they have the freedom to cancel up to an hour beforehand, eliminating the stress of last-minute changes. 

Pearachute offers two subscription tiers: a $79 monthly 5-class plan and a $99 monthly unlimited plan. 

She explains that as a parent herself, she understands the challenges of finding flexible activities for children. 

Traditional options often require long-term commitments or have strict cancellation policies. Pearachute aims to be the go-to solution for busy parents by offering a wide variety of discounted activities, from karate lessons to summer camps.

With Pearachute, parents can easily find and book activities that fit their schedule, and they can cancel at the last minute if necessary. 

Pearachute offers a user-friendly platform where parents can browse and book activities based on their child’s age, preferred time slots, and category interests, such as art, dance, or sports. 

The company has shown early promise, generating $50,000 in sales within just four months. They’ve also partnered with 30 local activity providers in Chicago, offering a diverse selection for parents.  

Desiree was asked about her plans for expansion, and when her response seemed unclear, Mr. Wonderful, known for his tough stance, decided to exit the deal.  

Barbara Corcoran also had reservations. She expressed concerns about whether Desiree possessed the qualities of a true entrepreneur, so she’s out as well. 

Guest shark Chris Sacca, while interested in the business idea, wasn’t actively investing at the time and exited the deal. 

Lori Greiner also decided to pass on the deal.  

Seeing an opportunity, Mark Cuban offered $500,000 for 20% equity. Desiree countered with 15% instead. Mark agreed, and they made a deal. 

Where is she now? Let’s find out in our Pearachute update.  

Shark Tank Pearachute Update 

The deal with Mark Cuban ultimately fell through due to his team’s concerns about the company’s early stage.  

However, the Shark Tank “effect” had an impact on the company. The day after the episode aired, there was a surge in sign-ups, exceeding the previous three months combined.  

Leveraging this momentum, Desiree expanded Pearachute into four new cities: Dallas, Kansas City, San Francisco, and Washington.  

To further fuel growth, our Pearachute update research found that the company secured $3.1 million in funding from venture capital firms between 2019 and 2020. 

The arrival of the COVID-19 pandemic in 2020 presented a new challenge. It forced Pearachute to revise its strategy. They shifted their focus to offering virtual experiences for children.  

While this pivot initially aimed to maintain operations, it appears it wasn’t a long-term solution. 

Despite achieving national reach with locations in every U.S. state and generating $1.3 million in annual revenue by June 2021, Pearachute ultimately closed its doors in June 2022.  

A quick visit to the website redirects you to an unrelated site, suggesting that the company is no longer in business. 

Desiree has since moved on to a new role as Chief Innovation Officer at P33. 

It looks like this will be our last Pearachute update.

You can find the other company updates from Season 9, Episode 7 here:

• Qeepsake Update
• GeoOrbital Update
• WaiveCar Update

For more company updates, be sure to check out our Shark Tank Season 9 page.