The video game industry is growing rapidly, and developing any kind of game requires a lot of money and time. To solve this problem, Dan Projansky and Caroline Strzalka introduced Overplay, a user-generated platform for casual games.
People can sign up on the Overplay application and convert any type of activity and sports video into a casual game.
Dan and Caroline appeared on Shark Tank Season 15 Episode 18 seeking funding. Did any of the five Sharks invest in their entertainment casual video game generation business? Let’s find out how their business is doing now.
| Company Name | Overplay | |
| Founder/Co-Founder | Dan Projansky and Caroline Strzalka | |
| Founded | 2017 | |
| Product | Casual Video-Game Generator | |
| Asked For | $500k for 2.5% equity | |
| Final Deal | $500k for 4% equity + Overplay pays mark $500k to promote & create content for overplay | |
| Shark | Mark Cuban | |
| Episode | S15 E18 | |
| Air Date | March 15th, 2024 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | New York, New York, United States | |
| Lifetime Worth (Sales) | $0M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Dan Projansky is the Co-Founder and CEO, and Caroline Strzalka is the Co-Founder and COO of Overplay, a casual game-maker company.
Dan is a filmmaker who studied Bachelor of Arts (BA) in Film/Cinema/Video Studies at Binghamton University. Caroline is a marketing expert who graduated with an MBA in Marketing from The Wharton School.
Caroline also owns a flower-arranging kit business called It’s By U, which she started in June 2016.
Business Pitch Episode Recap
After entering Shark Tank, Dan and Caroline asked the Sharks for $500k in exchange for 2.5% equity. They demonstrated their product and invited Mark and Kevin to play a casual game they had created.
Their company’s valuation is $20 million, but they haven’t generated any revenue yet. They plan to start monetizing next year. The $20 million valuation is based on the fact that they have already raised $3.7 million by diluting 20% equity at an $18.5 million valuation.
They have already soft-launched the Overplay application, and within a few weeks, it has achieved 150,000 downloads across the App Store and Play Store.
To keep the business running, they currently have only $750,000 in the bank and have burned through $3 million of investor money.
Mark Cuban asked on which platform the application was developed.
Dan explained that the application was coded from scratch using Apple’s IDE and Android Studio. Additionally, they have secured a utility patent for the feature that converts any video into a game.
Kevin O’Leary asked how money would be made from this business.
Dan explained that monetization can be achieved through interactive advertising, such as playable game ads.
Barbara Corcoran mentioned that she doesn’t like this type of business, so she is out.
Jason Blum mentioned that a friend of his had a business with a similar model to Overplay, where he invested $250k, and the entire amount was lost. Therefore, he is out.
Mark Cuban said, “You need me more than I need you,” and offered $500k for 15% equity. Dan countered with $500k for 3.25% equity plus 0.75% in advisory shares.
Mark countered with $500k for 4% equity + Overplay paid him $500k to promote and create content for the platform. Dan and Caroline accepted this offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Jason Blum | No Offer |
| Kevin O’Leary | No Offer |
| Mark Cuban | $500k for 4% equity + Overplay pays mark $500k to promote & create content for overplay |
| Daymond John | No Offer |
| Lori Greiner | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | $500k for 4% equity + Overplay pays mark $500k to promote & create content for overplay |
Overplay Shark Tank Update (Make any Video a Game)
After the deal with Mark Cuban, he started promoting the product as agreed. Videos and photos of Overplay were created for its official website and Mark’s social media platforms.
Overplay launched a fundraising campaign on Wefunder, where as of July 20th, 2024, the company has received $923,728 from 829 investors.
According to an Einpresswire report, Overplay was featured on a Times Square billboard on June 28, 2024. This exposure led to an increase in the application’s download percentage.
Our research reveals that Overplay is still operational and the company’s estimated worth is around $40 million.
Here You can check Caroline Strzalka’s interview videos on TellyCast.
Check out Shark Tank Season 15 Business Update.
You can see some businesses from Season 15 here.
