Shark Tank Update
Shark Tank Pitch
Packback Books Shark Tank Update
Published:
2m
Chicago, IL
| Name | Packback Books |
|---|---|
| Main Presenters | Kasey Gandham and Mike Shannon |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 2/4/2023 |
| Main Location | Chicago, IL Loading Map |
| Order Shown in Episode | 4 |
| Final Deal | Offer 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 By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $200k for 10% of company | |
| Sharks | Out | Daymond John | Out |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Out | Kevin O'Leary | Out |
| Sharks | Out | Robert Herjavec | Out |
| Company | Offered | Mark Cuban | $200k for 17.5% of company |
| Sharks | Deal | Mark Cuban | $250k for 20% of company |
| Company | Offered | Mark Cuban | $200k for 20% of company |
Mark Cuban
Offered
Daymond John
Out
Kevin O'Leary
Out
Barbara Corcoran
Out
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Packback Books After Shark Tank
According to a 2022 article by purposefirstentrepreneur.com https://purposefirstentrepreneur.com/purpose-first-stories-blog/packback-ceo-mike-shannon-reveals-why-his-purpose-discovery-hinged-on-evolution, 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.Link Preview
purposefirstentrepreneur.com
According to a 2017 article by forbes.com https://www.forbes.com/sites/amitchowdhry/2017/11/20/packback-is-building-a-i-to-enhance-university-learning/?sh=2eb5dae92921, 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.Link Preview
forbes.com
According to crunchbase.com https://www.crunchbase.com/organization/packback-books, 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.Link Preview
crunchbase.com
According to bizjournals.com https://www.bizjournals.com/chicago/news/2019/01/30/packback-lands-another-2-5-million.html, 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.Link Preview
bizjournals.com
Packback's website is packback.co https://www.packback.co https://www.facebook.com/packbackco https://x.com/packbackco https://www.youtube.com/@packbackco https://www.linkedin.com/in/mike-shannon-70191729 https://www.linkedin.com/in/kaseygandham and as of 2023, they are very active on their Facebook Link Preview
packback.co , Twitter, @packbackco Link Preview
Facebook , and YouTube Link Preview
@packbackco . According to Mike Shannon's LinkedIn Link Preview
YouTube he is the CEO in 2023. According to Kasey Grandham's LinkedIn Link Preview
LinkedIn , he is also still with Packback as of 2023.Link Preview
LinkedIn
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