Pandaloon
Pandaloon is a company from San Celmente, CA, that creates cute costumes for people's dogs. The company is named for the original costume that entrepreneur's dog wears, the panda. In fact, a video of the entrepreneur's dog has been seen 140 million times online.
The available costumes include the panda, a lion, a unicorn, and a bear and are sized to fit small to medium dogs. The entrepreneur seemed to hint that not all the costumes were currently available but that they would be ready to ship one month after the episode was filmed.
The costumes come with a suggested manufacturers price of $39.99 per article. They cost approximately $4 per item landed depending on the size. In three years, the company has earned $300,000 in gross revenue, averaging about $100,000 per year through the Pandaloon website.
The entrepreneur has a masters in computational science and had taught math at the Salk Institute in addition to sometimes as many as five part time jobs. She is looking for the $60,000 in order to get enough inventory for Halloween.
This deal aired on Episode 9.17.
Making A Deal
Naturally, Daymond jumped in on this deal. Not only is the potential licensing of dog costumes right up his alley, so are cute dogs wearing them. In exchange for the $60,000 in capital, Daymond asked for 35% equity. While this took the value of the company from $300,000 to just $171,000 and represented a bite of $128,000 (not quite half), for a company that makes dog cute costumes, it represented quite an investment and partner for the future. Naturally, the entrepreneur accepted the deal.