Pearachute Shark Tank Update

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Fell ThroughNow:Out of BusinessChildren & EducationSeason 9, Episode 7Chicago, ILWebsite

What Happened to Pearachute After Shark Tank

Is Pearachute still in business? No — the company has shut down.

Deal Fell Through

Deal fell apart before episode aired; founder said terms were terrible

$3.1 million raised from venture capital between 2019-2020.
It looks like the pandemic pivot didn't work out, Vargas closed the business in June, 2022.
Desiree Vargas Wrigley became Chief Innovation Officer at P33 Chicago.

Last verified Apr 1, 2026. Web-confirmed sources.

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The Pearachute Shark Tank Pitch

Pearachute, from Chicago, IL, pitched on Shark Tank Season 9, Episode 7, which aired Sunday, October 29, 2017, asking for $500,000 for 6% of the company — a $8.3M valuation.

Mark Cuban agreed to invest $500,000 for 15% equity, valuing the company at $3.3M. The deal fell through after the show. Deal fell apart before episode aired; founder said terms were terrible.

Watch the Pitch

Pitch Details

Aired: S9E7Oct 29, 2017
Ask: $500,000for 6%
Ask Valuation: $8.3M

Deal Terms

Terms agreed on air. The deal did not close.

Amount: $500,000
Equity: 15%
Valuation: $3.3M