Packback Books did not get an investment from the Sharks.
1. An app to "rent" textbooks on a day-to-day timeline so that students can reduce the amount of money they're spending on college books.
2. Instead of renting textbooks for a full semester, Packback allows students to rent the book only for a few days if that's all they need them for.
Tough sell. Especially with Kevin going on and on (and on) about how hard it is to work with the educational textbook industry.
Besides a hilarious math-flub towards the end of negotiations with Mark (on the part of Kasey), these two college students handled themselves admirably in the Tank. Yes, they seemed slightly under-prepared for the barrage of negativity being thrown at them by Kevin, but overall they did a great job of sticking to their guns and getting the right deal for their product.
What they didn't see - when they walked out of the Tank to discuss a different offer - was that Mark essentially sees their app as a jumping-off point to move into pay-per-view for all kinds of books, not just textbooks. If he's able to make that a reality for them, then these two are definitely on their way from rags to riches.
Kasey Gandham & Mike Shannon