Desiree Vargas Wrigley founded Pearachute in 2015, intending to change the landscape of “family time.” Wrigley understood the struggles of parents who wanted to keep up with their children’s schedules and provide them with the best activities to help them grow while struggling to find sufficient time for themselves.
Interestingly, Pearachute is Wrigley’s second company. She founded her first company, GiveForward, at the mere age of 25. This was an online fundraising company that donated money towards unprecedented medical expenses. She stayed with this company for eight years and managed to make $5 million before she decided to create a new company.
Pearachute provides classes to children who have busy parents and aims to educate, engage, and entertain them. Before Wrigley made her way to Shark Tank, the company had 600 subscribers and made $150,000 in revenue, even though there were only 12 people on the team.
Wrigley came to Shark Tank asking for $500,000 in exchange for 6 percent equity in her company. She told the Sharks that Pearachute provides an array of classes to children so that caretakers and parents can book singular classes for their kids whenever they want. The best part is that there are no cancellation charges, as long as cancellations take to place an hour before the class starts.
This monthly-subscription service allows parents to choose between $79 and $99 options through which they can get unlimited classes or five classes in a row. There are many fun classes that cater to different interests, such as swimming therapy classes for children who like fitness and physical activity and music classes where kids can learn how to play the violin. Every activity provided by the company is age appropriate and flexible so that parents can choose classes that work best for them in terms of timing and interests.
Sacca seemed interested in Wrigley’s company, especially since she revealed that she lived with her single mother in Costa Rica and was aware of all her mother’s struggles when she needed to go to work and had nowhere safe to drop Wrigley off. It was not until Wrigley worked hard and got a scholarship to Yale that her mother stopped worrying about her. Her struggles proved to the Sharks that Wrigley was a fighter. Her story resonated with Sacca, especially since he came from the same background. However, he revealed that he would not be investing in the company.
All the Sharks, except for Mark, dropped out one by one. Mark was ready to offer $500,000, but instead of 6 percent equity, he asked for 20 percent. Wrigley countered his offer, and eventually, the two settled on 15 percent.
Our Review of Pearachute
We believe Pearachute is a wonderful company providing several enjoyable children’s activities. Moreover, it caters to a range of interests to be inclusive.
Since it is a company made for parents looking to enroll their children in singular or bulk classes, we believe the company has a bright future.
Pros of Pearachute
The number of activities offered by Pearachute is nothing short of impressive. It seems like a child’s heaven and gives parents many options to help their children experience different things they would not normally learn at school. Whether searching for art, music, sports, or strategy classes, Pearachute caters to all needs, regardless of the child’s age.
The best part is that Pearachute is a reasonable service that offers several payment options for parents to choose between. This makes it accessible for many families. Moreover, it does not require too much commitment since parents can cancel an hour before, and the company will not charge them anything. Pearachute understands that parents are extremely busy, and juggling work responsibilities while caring for their children is no joke.
Cons of Pearachute
Even though Wrigley has started an exciting company that caters to the needs and interests of children, she quit her previous company after eight years. This makes us ponder her commitment to her new company and like the Sharks, we cannot help but think whether Wrigley will give up on this company as soon as things get tough.
Moreover, Pearachute is a paid service. Even though the idea is excellent, there are loads of alternatives available in the market that are much cheaper. There is not much that makes Pearachute different from all the other companies. If parents are given a more affordable option, why would they not want to save some money and get their children enrolled elsewhere?
Who is Pearachute for?
Pearachute is for busy parents who want their children to learn different skills. It offers camps, singular classes, and workshops that parents and caregivers can choose between based on their child’s age and development.
Are there Any Alternatives?
Many alternatives to Pearachute have become popular in the past years.
My Gym is a company that offers programs on a membership basis and gives parents a choice between some activities and classes for children. It is a wonderful alternative to Pearachute because it is flexible, cheaper, and a great way to help a child learn new things.
Another alternative to Pearachute is Kindermusik- a membership-based company that offers a range of activities for children and caters to kids of all ages. Even though it is not as flexible as Pearachute, it is definitely more affordable.
Our Final Thoughts
We love that Pearachute offers activities based on the interests and needs of children, regardless of their age. It sounds like the perfect platform for parents to use to keep their kids busy.
The flexibility and payment options make Pearachute attractive, and we believe that as long as Wrigley does not back out, her company could be extremely successful.