He accepted an offer from Daymond and Harrington of $80,000 for 25% thus bringing the valuation to $320,000. Panell enters the Shark Tank looking for $40,000 in exchange for a 25% stock share. Nonetheless, Pannell resurrected the Sweep Easy in the spring of 2017 with a revamped product, and the brooms are still available for purchase on his website as of November 2021, generating just over $1 million in annual income. However, Pannell’s contract with John and Harrington fell through, and the Sweep Easy social media pages have been dormant since 2012.
Ultimately, Pannell accepted John and Harrington’s offer of $80,000 for a 25% stake in the company.
#Shane pannell sweep easy license
This investment effectively doubled the valuation of Panell’s company to $320,000.ĭaymond John offered $75,000 in exchange for 33% equity and the opportunity to join forces with Harrington to make a joint offer of $80,000 for 25% equity.īarbara Corcoran did not believe Pannell could bring his idea to market, and Kevin O’Leary preferred to license the Sweep Easy rather than produce brooms. However, after negotiations with the sharks, he eventually accepted an offer from Daymond John and Kevin Harrington for $80,000 in exchange for a 25% stake in the company. What happened to Sweep Easy after Shark Tank?.How Did The Appearance On Shark Tank effect The Company?.
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