DrumPants co-founders Lei Yu and Tyler Freeman hoped the Sharks pick up on their rhythm and invest in their product episode 603 of Shark Tank.
DRUMPANTS is another company in the Tank that garnered the highest amount in a Kickstarter campaign – they raised $74,236 (double the amount requested).
DrumPants is a pair of ‘foot pedals” that you wear inside your shoes and a pair of ‘drum pads’ that you wear in your pockets.
The sensors are connected through Bluetooth to a control box that holds over 100 sounds (drums, synthesizers, pianos, guitars), and it has a small speaker, HDMI, and headphone connections.
The drum pads and foot pedals allow you to create beats and rhythms. Users can upload their sound effects using the bundled app.
Additionally, the product is compatible with a variety of other musical applications. You can program DrumPants to control games, mobile devices, PowerPoint presentations, and even Google Glass.
Tyler created DrumPants as a prank in which he banged out beats while slapping his legs to scare his friends.
DrumPants took six years to perfect the technology after its initial prototypes proved cumbersome.
There are two models available: a basic device priced at $99 and a Bluetooth-enabled Pro model priced at $139.
Both Yu and Freeman worked at Google and other companies specializing in technology. The DrumPants are still making, and consumers will have to wait for the product to arrive.
They’re probably looking for a Shark to provide capital and aid with manufacturing.
What Is Drumpants?
DrumPants are music-playing touch sensors that you wear on your body. Your smartphone’s Bluetooth technology allows you to play games and music with your wireless controller.
Drumpants are sensors that attach to garments and enable you to create music any time inspiration strikes without carrying bulky equipment. Drumpants is compatible with both mobile and desktop devices.
|Entrepreneur||Lei Yu And Tyler Freeman|
|Product||Apps and Wearable Drum Machines|
|Investment Asking For||$150,000 For 5% equity in Drumpants|
|Final Deal||No Deal|
|Episode||Season 6 Episode 3|
|Business Status||Out Of Business|
Who Is The Founder Of Drumpants?
Tyler Freeman is the founder of Drumpants, specializing in creating interfaces that bring the human body closer to the machine.
A graduate of the University of California, he holds a Master’s degree in Digital Art and New Media and an undergraduate degree in Computer Science.
He is currently employed with Google as a Software Engineer. Tyler was formerly the CTO and co-founder of Tapper and worked at Cronologics as a software engineer and UX designer.
Lei Yu is currently the Director of Product Management at CaaStle, and she is an expert in growing revenue. She has worked for Fortune 100 companies and startups, including Chariot and Neura.
Yu studied operations and marketing/marketing management at the University of Maryland College Park. She attended Stanford University to study machine learning in 2016.
Tyler Freeman, a talented drummer, created Drumpants as a joke, resulting in him “seeing a future where music creation fosters social connection.”
Lei Yu and the team raised $74,000 on Kickstarter and later used design thinking to construct a prototype. Their business strategy was based on pre-orders, which led to 720 sales.
Drumpants’ Kickstarter campaign served as proof of concept, so they felt it was time to introduce it to Sharks.
Drumpants Before Shark Tank
Drummers are stereotypically portrayed as large, burly men. They are often depicted as drunk, scruffy, and unshaven; their image is sometimes compared to the band’s most wild and crazy members.
Today, a new generation of drummers is emerging in the age of augmented reality and wearable technology. The drum set does not look like it has any drums, no denim jackets, or tattoos.
The DrumPants product was conceptualized and developed by Tyler Freeman, a drummer with a background in technology and design, and his marketing partner, Lei Yu.
The product required a lot of fine-tuning to improve durability and comfort over six years of development.
Lei and Tyler raised funds using the popular crowdfunding website Kickstarter in December 2013.
The team targeted $35,000 from the campaign, and when it concluded one month later, they had received nearly $75,000 in donations from over 500 backers.
How Was The Shark Tank Pitch Of Drumpants?
Lei and Tyler appeared on Shark Tank, asking for an investment of $150K in exchange for a 5% stake in Drumpants. They then played the Shark Tank theme on their DrumPants.
When they have demonstrated how it works, the team requests that the Sharks march to the beat of a different drum–pants!
The company shows off the product and discloses that it is still in the pre-revenue stage. Mr. Wonderful believes that the technology is not sufficiently proprietary, so the Sharks ask about pricing.
Robert thinks $3 million is an excessive price tag. This year, they expect to sell $220,000.
Lori aims to diversify the market since he believes it is lackluster.
The valuation did not impress Mr. Wonderful. He only cared about CASH; therefore, he walked away.
Robert recognized the company vision and offered $150K in exchange for a 20% stake.
DAYMOND offers $250K for a 20% stake in exchange for a licensing agreement.
Robert thinks it’s a promising proof of concept and repeats his offer.
In an attempt to keep Lei and Tyler from entering, Mr. Wonderful warns them that it is not safe to go into the hall.
They enter the hall following a commercial break. Mr. Wonderful asserts that nefarious things occur when individuals enter the hall.
Tyler wishes to accompany Daymond, but Lei objects to the licensing concept.
They re-enter, and Mr. Wonderful sums up the proposals. Tyler counters Robert’s offer of $150K for 15%.
Daymond leaves when he perceives them to be waffling. Mark offers his opinion, and they escort him out for being too deliberate.
Robert becomes angry when Mark is asked to enter, and he leaves.
Final Deal: No deal between Drumpants and Sharks.
What Happened To DrumpantsAfter Shark Tank?
Lei Yu and Tyler Freeman faced a tough decision on Shark Tank, especially since Robert Herjavec’s long-term investment in their product was a far better offer than the possibility of a licensing deal with Daymond.
The inability of the team members to collaborate and decide ultimately led to the loss of the deal.
DrumPants still made it to market and are available to drummers and wearable tech fans alike.
Lei’s commercial knowledge and coaching helped DrumPants achieve profitability in the first year of sales due to a growing demand for the product after the event.
DrumPants’ laid-back demeanor turned the Sharks off, but their product has hugely impacted music.
However, they don’t have any testimonials from truly renowned musicians who praise the quality of their products yet.
The DrumPants product line is also expanding with an app called Tappur, which, while still in its Beta development stage, promises to change the way you use your smartphone.
DrumPants is at the cutting edge of technology and design, so it might make sense for Robert Herjavec to wonder whether he ever regrets not being more accommodating to them.
Tyler and Lei would have very likely accepted the offer if they had the opportunity to weigh all the advantages, but for the time being, they are going their own way.
Drumpants Shark Tank Update
DrumPants sold out two of its kits, the DrumPants 2.0 Basic Kit and DrumPants 2.0 Pro Kit, which include six Bluetooth-enabled wearable drum triggers after appearing on Shark Tank.
The DrumPants social media accounts haven’t been active since May 2016, so there’s no news on a 3.0 version.
DrumPants’ two entrepreneurs who pitch the product on Shark Tank have also made progress professionally.
Yu is currently employed as a Senior Product Manager at Chariot, developing software to deliver commuter shuttle services (Ford owns chariot). Google currently employs Freeman as a UX Designer/Engineer.
Are Drumpants Still In Business?
Drumpants earned large sales and excellent press coverage following its appearance on Shark Tank; however, it is no longer manufactured.
Drumpants was marketed as a creative outlet for poor children and a next-generation with enormous potential, but without a strong leader, the product failed miserably.