Packback is a college textbook pay-per-use rental service. This was started by Kasey Gandham and Mike Shannon in 2011. As of November 2023, Packback’s net worth is $4.2 million. They’re pulling in a whopping $3.1 million in annual revenue. 

In March 2014, they appeared on Season 05 of Shark Tank USA and made a deal with Mark Cuban, for $250,000 for 20% of equity. The final valuation was $1.25 million, down from the founder’s initial estimate of $2 million.

Packback witnessed significant growth after its pitch on Shark Tank. On August 7th, 2018, Packback will be ending support for Packback Books.

Packback Net Worth

Net worth$4.2 million (2023)
Annual Sales Revenue$3.1 million (2023)
Lifetime sales
InvestorMark Cuban
FoundersKasey Gandham and Mike Shannon

Packback Net Worth Timeline

Net Worth 2023$4.2 million
Net Worth 2022
Net Worth 2021
Net Worth 2020
Net worth valuation in 2014 after appearing on Shark Tank  $1.25 million
Net worth valuation in 2014 before appearing on Shark Tank  $2 million

Packback Pitch on Shark Tank

Company namePackback
ProductA college textbook pay-per-use rental service
EpisodeSeason 05 Episode 21
Founders Kasey Gandham and Mike Shannon
Asked for$200,000 for 10% equity
Final deal$250,000 for 20% equity
SharkMark Cuban
LocationChicago, Illinois

Don’t miss these products from Season 5

Packback Founders

Kasey Gandham and Mike Shannon founded Packback in 2014. Both Kasey and Mike graduated from Illinois State University. They have an academic background in Finance and Marketing. Along with their promising entrepreneurial skills, they could create a successful business of their own. Packback’s founders, Kasey Gandham and Mike Shannon’s net worth is unknown as of 2023.

Key accomplishments

2014Packback got featured on Shark Tank
2020Packback’s owners secured a spot in the Forbes “30 under 30 – Education”
By 2020 the company was aible to raise $10.7 million in venture funding


From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Packback and its continued success.

Similar Posts