Drumpants, Wearable drum machine technology and app that lets you make beats on your pants, was started by Lei Yu and Tyler Freeman in 2013. Drumpants Net worth was $3 million at the time of their pitch in 2014 based on the $150,000 offer for an 5% of equity of the company.
They appeared on season 6 of Shark Tank USA in 2014. But the Sharks were not interested in investing in Drumpants. The Sharks thought that the product wouldn’t have a broad appeal, and they also felt that the Drumpants team didn’t have a clear vision for the product or a strong marketing plan.
Unfortunately, Drumpants is out of business in 2023.
Drumpants Net Worth
|Net worth||$3 million (2014)|
|Annual Sales Revenue||–|
|Founder||Lei Yu and Tyler Freeman|
Drumpants Net Worth Timeline
|Net Worth 2023||–|
|Net Worth 2022||–|
|Net worth valuation 2014 after appearing on Shark Tank||$3 million|
|Net worth valuation 2014 before appearing on Shark Tank||$3 million|
Drumpants Pitch on Shark Tank
|Product||Wearable drum machine technology and app that lets you make beats on your pants|
|Episode||Season 6 Episode 03|
|Founders||Lei Yu and Tyler Freeman|
|Asked for||$150,000 for 5% Equity|
|Location||San Francisco, California|
Don’t miss these product from Season 06
Lei Yu and Tyler Freeman found Drumpants in 2013. Lei Yu is a serial entrepreneur with experience in user experience, marketing, and operations. He is passionate about creating products that make music more accessible and fun for everyone.
Tyler Freeman is an inventor, artist, and software architect. He is the brains behind Drumpants’ innovative design and technology. The net worth of Drumpants’s founders, Lei Yu and Tyler Freeman, is unknown USD as of 2023.
|2016||Appeared on Shark Tank season 06|
Some companies that appear on the show have not achieved great success, and the Drumpants was one of them. Sometimes businesses don’t succeed because of many reasons. Sometimes, the deal falls through after the founders say yes on camera. Or, as you’ll see, sometimes things happen to the founders themselves, and they choose to abandon the business. Anything is possible. However, Drumpants went out of business in 2016. And the product is no longer available in the market.