Babies often make playards very dirty because they eat, drink, pee, and poo there. For a real solution to this, Amy Feldman and Allison Costa have invented a cover for playards. They appeared on Shark Tank Season 1 and asked Sharks for $350k in exchange for 15% equity in their company Coverplay, at a $2.33 million valuation. Did the Sharks invest money in their business or not? Let’s find out.
| Company Name | Coverplay | |
| Founder/Co-Founder | Amy Feldman and Allison Costa | |
| Founded | 2007 | |
| Product | Cover for Playard | |
| Asked For | $350K for 15% equity | |
| Final Deal | $350K for 40% equity | |
| Shark | Barbara Corcoran | |
| Episode | S1 E4 | |
| Air Date | Aug 30th, 2009 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Los Angeles, California, United States | |
| Lifetime Sales | $5M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
So far, their lifetime sales are $200,000, selling to D2C and hospitality Industry. Additionally, the product has been launched in Target retail stores. They provide playard covers to many popular hotels, including Marriott, Hilton, Wyndham, Carnival Cruise Line, and more. In addition, they have 2 patents for their product.
Kevin Harrington is concerned about the product’s targeted age group of 1-2 years. Due to this, he is out.
Amy and Allison had spent $100,000 in this business a year ago, and the Sharks don’t think it’s worth $2.33 million. Barbara Corcoran made a non-negotiable offer of $350k for 40% equity in the company, with the condition that all cash will be invested in product development.
Daymond John offered $350k for 65% equity. They declined, refusing to give control of the company. Robert Herjavec is considering teaming up with Daymond to offer $500k for 65% equity. When Amy and Allison revealed that the business does not include a patent, the Sharks were ready to retract their offers.
Allison revealed that she owns 60% of the patents, while the remaining percentage is owned by her ex-husband and Amy’s husband. However, since the patent is included in the business, the Sharks’ offers have come back.
Kevin O’Leary, Daymond John, and Robert Herjavec offered $350k for 51% equity. They decided to go with Barbara’s offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | No Offer |
| Kevin O’Leary | $116k for 17% equity |
| Robert Herjavec | $116k for 17% equity |
| Barbara Corcoran | $350k for 40% equity |
| Daymond John | $116k for 17% equity |
| Founder’s (Countered) | No Offer |
| Final Deals | $350k for 40% equity |
Coverplay Shark Tank Update
After visiting the official website of Coverplay, we discovered that they have launched many products including playard packages, cribs, sheets, and more. Not only that, but they are also now making millions of dollars annually.
The update report link for the businesses that appeared in Season 1 has been shared below.
