Many people enjoy going to nightclubs with clients, friends, or even alone. However, when it comes to getting into the most exclusive nightclubs or events, it becomes a big challenge because many others are also trying to get in. To solve this problem, Alashe Nelson started a company called EZ VIP, which allows nightlife enthusiasts to pre-purchase tickets to the most exclusive nightclubs and events.
Alashe appeared on Shark Tank Season 3 to seek investment from the Sharks to expand his service to other cities. Did any of the Sharks show interest in investing in his business?
| Company Name | EZ VIP | |
| Founder/Co-Founder | Alashe Nelson | |
| Founded | 2010 | |
| Product | Allow pre-purchase best events tickets | |
| Asked For | $150k for 15% equity | |
| Final Deal | $150k + an “A” list artist for 30% equity | |
| Shark | Mark Cuban and Daymond John | |
| Episode | S3 E1 | |
| Air Date | Jan 20th, 2012 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Miami Beach, Florida, United States | |
| Lifetime Worth (Sales) | $0.5M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Alashe Nelson asked the Sharks for $150,000 in exchange for 15% equity in his company, valuing it at $1 million. He explained to the Sharks that his platform provides people with the ability to pre-purchase premium spots, bottle service, and other amenities at the most exclusive nightclubs and events, allowing them to enjoy the nightlife without any hassle.
He mentioned that his business is currently based in Miami, with a net revenue of $90,000 and a gross revenue of $250,000, which is considered strong sales for the business.
Recently, he signed contracts with the most exclusive nightclubs and events in Los Angeles, Las Vegas, and New York.
Barbara Corcoran said that she isn’t a nightclub type of person, so she couldn’t relate to the business. Therefore, she is out.
Kevin O’Leary said that this is a very interesting business, but since he was sitting next to Barbara, who isn’t a nightclub type of person, he decided to be out as well.
Mark Cuban said that he couldn’t connect with the business and didn’t have enough time to help grow it, so he was out.
Robert Herjavec and Daymond John teamed up to offer $150,000 for 45% equity in the company. However, Alashe immediately rejected this offer, stating that the company would be worth $100-$500 million in the future.
Alashe countered with an offer of $150,000 for 18% equity. In response, Daymond made a counteroffer of $150,000 plus an “A” list artist for 45% equity.
Mark Cuban said he would join the deal with Daymond John if Robert Herjavec was out.
Daymond then teamed up with Mark and offered $150,000 plus bringing an “A” list artist as the brand face, but they required 45% equity in the company.
Kevin O’Leary teamed up with Robert Herjavec to offer $150,000 for 25% equity. They also proposed providing technical services along with financial support to help expand the business.
Daymond John said he didn’t want to lose the deal, so he reduced the equity percentage to 30%.
Kevin O’Leary made another offer: $150,000 for 20% equity, along with bringing an “A” list artist as the brand face for the deal.
Alashe decided to accept the offer from Mark Cuban and Daymond John.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Mark Cuban | $75k for 22.5% equity (Daymond) #1 $75k for 15% equity (Daymond) #2 |
| Kevin O’Leary | $75k for 12.5% equity (Robert) #1 |
| Robert Herjavec | $75k for 22.5% equity (Daymond) #1 $75k for 12.5% equity (Kevin) #2 |
| Barbara Corcoran | No Offer |
| Daymond John | $75k for 22.5% equity (Robert) #1 $75k + an “A” list artist for 22.5% equity (Mark) #2 $75k + an “A” list artist for 15% equity (Mark) #3 |
| Founder’s (Countered) | $150,000 for 18% equity (Daymond & Robert) #1 |
| Final Deals | $150k + an “A” list artist for 30% equity |
EZ VIP Shark Tank Update
After Alashe struck a deal with Mark Cuban and Daymond John, Robert Herjavec told Daymond, “I expect that from Cuban, but not from you.”
After the deal was finalized, Daymond John diluted his equity in the business and brought on American rapper and singer Pitbull as the spokesperson for EZ VIP.
When we started researching EZ VIP, we couldn’t find any online presentation of the business, and the company’s official website had completely disappeared within a year. However, when we checked Alashe Nelson’s LinkedIn page, it showed that EZ VIP is still present as of August 2024.
It’s also possible that Alashe Nelson has not updated his LinkedIn profile or may not have access to it.
We believe that EZ VIP is no longer in business.
Check out Shark Tank Season 3 Business Update.
Here are some updates on the progress of businesses from Season 3 and 1. Check them out!
