Shark Tank Pitch

Packback Books Shark Tank Update

Published:

2m

Chicago, IL

Packback Books Shark Tank Update

Pitch Overview
NamePackback Books
Main PresentersKasey Gandham and Mike Shannon
Presenter Image
Packback Books Entrepreneurs: Kasey Gandham and Mike Shannon
Product Image
Packback Books Product Image
Last Known in Business2/4/2023
Main Location

Chicago, IL

Order Shown in Episode4
Final DealOffer made from sharks

Packback Books Shark Tank Pitch

Kasey Gandham and Mike Shannon say that college textbook prices have drastically risen over time. Kasey and Mike created Packback Books, a website where students can access thousands of textbooks digitally, with highlighting and note-taking capabilities.

Packback Books has a deal with one of the large booksellers that gave them access to many of the books, which they sell at $5 per day for students to view on an as-needed basis. Publishers receive 75% of revenue.

Kevin made the bulk of his money in the education space. However, he warns Kasey and Mike that dealing with education companies is a long and stressful process that Kevin does not wish to go down again. Every shark but Mark goes out. Mark has businesses in the same space and sees potential but seeks a better deal. Kasey and Mike negotiate their way to a deal. Hilariously, Kasey slips up and counters Mark's offer with a deal more favorable to Mark but quickly correct themselves.

Offers

Made ByLabelSharks Part of DealSummary
CompanyOffered$200k for 10% of company
SharksOutDaymond JohnOut
SharksOutBarbara CorcoranOut
SharksOutKevin O'LearyOut
SharksOutRobert HerjavecOut
CompanyOfferedMark Cuban$200k for 17.5% of company
SharksDealMark Cuban$250k for 20% of company
CompanyOfferedMark Cuban$200k for 20% of company
Mark Cuban
Mark Cuban

Mark Cuban

Offered

Daymond John
Daymond John

Daymond John

Out

Kevin O'Leary
Kevin O'Leary

Kevin O'Leary

Out

Barbara Corcoran
Barbara Corcoran

Barbara Corcoran

Out

Robert Herjavec
Robert Herjavec

Robert Herjavec

Out

Updates in Shark Tank Episodes

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Packback Books After Shark Tank

According to a 2022 article by purposefirstentrepreneur.com , Packback Books tirelessly worked on disrupting the textbook market for four years which was draining on Mike Shannon. In 2015 Packback Books shifted away from textbooks and went by the name Packback. Packback's new business was centered around a platform for students and teachers to discuss coursework.
According to a 2017 article by forbes.com , Mark Cuban stuck with Packback since the beginning. Packback allowed teachers to sign up for free and upload their course materials that students could purchase. The discussion platform gave them thousands of questions and answers that they have used to build an artificial intelligence side of the business.
According to crunchbase.com , Packback has four founders: Jessica Tenuta, Kasey Gandham, Mike Shannon, and Nick Currier. Packback has raised $10.7 million as of 2023, most recently in 2019.
According to bizjournals.com , Packback had 80 employees and a new office building in 2018 while reporting strong year over year revenue growth. As of 2023, Packback hopes to build an AI-generated content detection system to prevent students from outsourcing their coursework to ai content generators.
Packback's website is packback.co and as of 2023, they are very active on their Facebook , Twitter, @packbackco , and YouTube . According to Mike Shannon's LinkedIn he is the CEO in 2023. According to Kasey Grandham's LinkedIn , he is also still with Packback as of 2023.

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