The Elephant Pants Update | Shark Tank Season 8

The last to present in Episode 18 of Shark Tank Season 8 was Nathan Coleman and James Brooks, who were asking for $500,000 for 10% equity of their company, Elephant Pants. The two would find a willing investor in Daymond John, who put in $500,000 in exchange for 15% equity and 2.5% in advisory shares, which is what we’ll talk about in our Elephant Pants update.

Shark Tank Elephant Pants Update

• Entrepreneur: Nathan Coleman and James Brooks
• Business: Comfortable elephant-themed apparel
• Ask: $500,000 for 10% equity
• Result: $500,000 for 15% equity with 2.5% in advisory shares
• Shark: Daymond John

Brooklyn natives Nathan and James went into the Shark Tank to try and pitch their company, The Elephant Pants. The apparel company is unique in that it works to save the elephants. A portion of each elephant-themed apparel sale goes to the International Elephant Foundation. At the time of their pitch, the company already donated $127,404 to help save the elephants.

The sharks weren’t impressed with the designs at first. However, they changed their tune after Nathan and James revealed sales numbers. The company had $7 million in sales over two years. The sharks were hooked.

Robert Herjavec was fascinated by how the company came to be. Ultimately, he went out because he wasn’t a fan of the product. Mark Cuban went out next. He congratulated the two on their cause and success.

Ever the orchestrator, Kevin O’Leary gave the duo two choices: $500,000 as a line of credit for 5% equity or $500,000 for 20% equity. Daymond John then piggybacked off of Kevin’s offer and decided to give them $500,000 for 20%. Afterward, Lori Greiner joined in on Kevin’s line of credit offer, upping the equity ask from 5% to 10%.

The two decided to counter and asked all three sharks to join together for the same deal at $500,000 for 15%. Daymond politely declined, and the two tried to counter for $500,000 for 12%, which only led to Kevin and Lori going out. Finally, Daymond offered 17.5% while also promising to fund purchasing orders.

With only one shark left, Nathan and James decided to offer Daymond 15% equity with 2.5% in advisory shares on top, which he gladly accepted. Now that you know what happened in the Shark Tank, let’s talk about what happened after in our Elephant Pants update.

Unfortunately, it appears that Elephant Pants is nowhere near in sight. Their social media pages have been dormant since December 2018. Meanwhile, James Brooks, the co-founder, left Elephant Pants in late 2017. He currently owns JB Financial.

Meanwhile, Nathan Coleman’s LinkedIn profile says that he was the CEO and founder of Elephant Pants from September 2014 to December 2014.

That said, it appears that the Elephant Pants was not able to sustain its initial success.

For more company updates from Shark Tank Season 8 Episode 18, check out the links below:

• Sand Cloud Update
• Ora Organic Update
• DARTdrones Update

Interested in more company updates from Shark Tank Season 8? Check out our Season 8 products page.