An entrepreneur from Southern California, Megan Lancaster, appeared on Shark Tank with the idea of making parenting easier, which can feel like heavy lifting. She is the founder of her company, Ellavate, which has special features like an electric stroller wagon for parents who carry their babies, toys, bags, and other necessities.
The features of the Ellavate stroller are more advanced than those of a regular one because it uses patented sensor-based technology that works when the user is engaged with the handlebar. Her motive is to help parents smoothly push the stroller on sand, hills, and other terrains.
Megan appeared on Shark Tank seeking $150,000 for 5% equity. Before coming on Shark Tank, she already had amazing sales. She hoped that collaboration with the Sharks could help her take Ellavate sales to new heights.
In this article, we will discuss the sales, pricing, cost of the product, and whether she impressed the Sharks and got an offer or not.
Ellavate Net Worth
Megan Lancaster went on Shark Tank asking for $150,000 for 5% of Ellavate. This meant she thought her business was worth $3 million. She made a deal with Sara and Erin Foster for $150,000 in exchange for 10% of the company. That deal valued Ellavate at $1.5 million. The episode aired on September 30, 2026. Before Shark Tank, Ellavate had already become a six-figure business, and its first product release sold out. The company is still active and is currently selling its electric stroller wagon for $1,599. Since the Shark Tank deal is very recent and there is no public confirmed valuation yet, the current net worth of Ellavate is estimated to be around $1.5 million to $2 million as of 2026.
Did Ellavate Get a Deal on Shark Tank?
Yes, Megan accepted the deal from Sara and Erin Foster. Initially, she asked for $150,000 for 5% equity. She got three deals from the Sharks. The first was from Rashaun Williams, who offered $150,000 + a $150,000 line of credit for 15% equity; the second was a joint offer from Rashaun Williams and Kevin O’Leary: $300,000 for 20% equity, 10% for each.
The third was from Sara and Erin Foster, which was $150,000 for 10% equity. Even though they did not negotiate much, the reason for dealing with the Foster sisters was that they are women and know the value of women’s empowerment, which encouraged Megan.
The thing that impressed the Sharks was that the company had already sold its first shipment and had customers from 30 states.
Ellavate Shark Tank Deal Table
| Shark(s) name | Offer & Demand | Accepted |
|---|---|---|
| Sara Foster & Erin Foster | $150,000 for 10% equity | Yes |
| Rashaun Williams | $150,000 + $150,000 line of credit for 15% equity | No |
| Rashaun Williams + Kevin | $300,000 for 20% equity | No |
| Barbara Corcoran | Out | No |
| Lori Greiner | Out | No |
Shark Tank Founders’ Backstory
Megan Lancaster got the inspiration for Ellavate from her mother, Renee Lancaster. In 2020, during COVID, they went on a beach trip and saw that families struggled to carry heavy wagons on the beach. It looked like they were working out while they thought they were relaxing.
And casually, her mother raised a question about why nobody had made electric wagons. This question stayed in Megan’s mind, and she turned the simple idea into a business that had high current and future potential. That’s how she created Ellavate and appeared on Shark Tank.
Ellavate Shark Tank Pitch
Megan began her pitch on Shark Tank by mentioning the difficulties faced by parents when they carry their children and their essentials. Because mothers are the ones who do it most of the time, carrying a baby and other things at the same time feels like heavy lifting.
She mentioned that it does look like a normal stroller, but it has an electrical assistance sensor that automatically stops when it is not engaged with the user. The Sharks were concerned and scared that the stroller sensor might not work properly or might suddenly stop, which could be scary.
Megan mentioned that they added an extra strap for emergencies, which is held by the user.
Megan invited Sara and Erin to test the product. She also talked about their sales and pricing, which impressed the Sharks.
Shark Questions, Negotiations, Discussion & Reactions
The Sharks wanted to understand the product deeply; that’s why they asked questions about margins.
Kevin asked about the company’s number of units and shipments. Megan replied that their first shipment was sold out and approximately 40 units generated around $25,000.
Sara asked what the product’s manufacturing rate was and how much they sold it for. Megan answered that they sell it for $1,400. She said that they were figuring it out by comparing the cost with other margins.
Sara and Erin tested the product and were very concerned about possible safety improvements. They mentioned that an extra strap should be added for emergencies and that they were also working on a fail-safe switch.
Lori Greiner dropped out, saying this product was out of her niche. Barbara was concerned and worried about safety, which is why she said no to the deal.
Williams, Kevin, Sara, and Erin were interested in the product because of its sales and future potential. Megan made the deal with the Foster sisters.
Why Some Sharks Said No
There were several reasons why the Sharks chose not to invest. One of the major concerns was the pricing, which was a lot higher than that of a traditional stroller. This shows that the product is for those who are willing to pay a premium price for electric assistance.
The second reason for backing out of the deal was the manufacturing cost because if the manufacturing cost is high, then the sales margins get lower.
The third reason was the safety of the babies, which was a major concern because it involved automatic safety fail switches and brakes, etc.
Barbara said no to the deal because she differentiated between New York City streets and hills.
While Kevin, Williams, Sara, and Erin preferred the product over the risk, that’s why they offered deals.
Where To Buy Ellavate and Product Features
The properties of Ellavate are more advanced than those of a traditional stroller; it comes with an electric sensor. It is designed for areas where it is difficult to push the stroller with babies, like sand, hills, and grass. When the handle is released, it provides resistance so the stroller does not run by itself.
Its price is $1,400, and you can easily buy it from its official website and get updates about new launches from its Instagram.
What Happened To Ellavate After Shark Tank?
Ellavate already had a high level of recognition from its appearance on Shark Tank, but after the appearance, its sales increased to a new level. They sold products and got preorders during the first 30 days after Shark Tank.
Even though, with the help of the Foster sisters, Megan is working on the pricing, branding, and manufacturing costs. Even though their collaboration with Sara and Erin is new, we will see new launches and updates in the future.
Conclusion
Megan Lancaster simply turned the question and idea into a real business. In its product, the company installs electric sensor technology that senses the user’s engagement and works.
Before entering Shark Tank, she already had great sales and customers from 30 states, which shows that the company had huge recognition.
Some Sharks backed out of the deal because of the risks of manufacturing costs, sales, and safety concerns. Others saw the potential in the product and thought these issues could be fixed if they worked together on those factors.
After a successful negotiation, she secured the deal with Sara and Erin. In the future, they are willing to work on pricing and brand recognition. Stay tuned to witness their improvement.
Hi, I’m Sandiya Kanwal! I’m in my final semester of my bachelor’s degree and I have a strong passion for sharing the inspiring stories of entrepreneurs. Writing for SharkTankInsights.com helps me explore how creative people turn simple ideas into successful businesses. I enjoy learning from their challenges, strategies, and achievements, and I love inspiring readers who dream of building something great.
