Coverplay Shark Tank Update | Coverplay Net Worth

Coverplay is a unique and innovative product that debuted in Season 1 of the reality television show Shark Tank. Amy Feldman designed it and offered a practical solution to a common problem parents face.

Coverplay is a slipcover for children’s play yards or pack ‘n plays. These play yards, while handy, can often harbor bacteria and are difficult to clean.

Coverplay addresses this issue by providing a washable cover that can easily fit over most standard play yards, effectively keeping them clean and sanitary.

Moreover, Coverplay’s design includes a series of playful and child-friendly patterns that can stimulate a child’s imagination and interest.

Coverplay addresses the significant issue of cleanliness and hygiene in children’s play areas, a primary concern for many parents.

Coverplay offers a simple, practical solution that doesn’t require parents to regularly deep-clean the play yard, which can be tedious. Moreover, its colorful, engaging designs add an element of fun to the play yard, making it more enticing for children.

What Is Coverplay?

Coverplay is a product designed to bring a new level of cleanliness and safety to children’s play areas. Created by entrepreneurial duo Amy Feldman and Allison Costa, Coverplay is a slipcover designed to fit over play yards easily.

Coverplay was brought to life to create a barrier between the child and the play yard, keeping away germs and dirt for a safer playtime experience for children.  Coverplay is the perfect solution to ensure cleanliness and safety in children’s play areas.

Coverplay main purpose is to act as a protective barrier between the child and the play yard, effectively preventing the transfer of germs and dirt. Parents can now provide their children a more hygienic and safer playtime experience with Coverplay.

Coverplay catapulted to substantial visibility when Amy and Alison made a stirring presentation on the popular entrepreneurial show Shark Tank. The product is machine washable, adding extra convenience for busy parents. 

Coverplay’s play yard cover slips are also patented, demonstrating its uniqueness in the market. The company’s products, including play yard slipcovers and fitted sheets, are user-friendly and easily accessible through their website.

Despite the competition, the team behind Coverplay is optimistic about becoming the leading seller of slipcovers for portable play yards. 

Who Is The Founder Of Coverplay?

Amy Feldman is the innovative mind behind Coverplay, a product designed to address parents’ significant hygiene issues.

Feldman, a native of California, had a background in the hospitality industry, having managed some prestigious properties before switching to entrepreneurship.

Feldman came up with the idea of creating Coverplay when she was a new mother. As many parents do, she used a play yard for her child but was frustrated by the difficulty of keeping it clean.

While a hotel manager, she had noticed that the play yards provided for guests’ children were frequently not cleaned or sanitized properly, leading her to worry about the bacteria and germs her child could be exposed to. This led her to think of a practical solution: a washable slipcover that could easily fit over most standard play yards.

Before its appearance on Shark Tank, Coverplay had already achieved some success. Feldman launched the product and got it into several retail outlets.

Coverplay was also used in several hotel chains nationwide, a testament to Feldman’s previous connections in the hospitality industry.

Despite the initial traction, Feldman realized the growth potential was substantial. This prompted her to take Coverplay to Shark Tank, seeking capital investment and strategic advice to expand her business further.

How Was The Shark Tank Pitch Of Coverplay?

When Amy Feldman presented Coverplay on Shark Tank, she sought a $350,000 investment in exchange for a 15% stake in her company, valuing Coverplay at $2.33 million.

Feldman’s pitch began with her introducing the product concept, demonstrating how it worked, and explaining why it was necessary. She emphasized the sanitation aspect of Coverplay and how it could protect children from exposure to harmful bacteria and germs.

She highlighted the business’s current successes, including its presence in retail outlets and hotel chains. The sharks were generally impressed by Feldman’s presentation and the concept of Coverplay.

They appreciated the product’s practicality and acknowledged its potential to impact the market significantly. However, given the financial figures, some sharks expressed concerns about the company’s high valuation.

Additionally, there were concerns about how quickly competitors could copy the product without a patent to protect it. After some back and forth, Feldman secured a deal with Barbara Corcoran.

Barbara, often known for investing in products that make a difference in people’s lives, saw the potential in Coverplay. She offered the full $350,000 Feldman sought but asked for a 40% stake in the Coverplay.

Although this was a higher equity share than Feldman initially wanted to give away, she recognized the value of partnering with a Shark like Corcoran and agreed.

The Shark Tank pitch was a turning point for Coverplay, giving the company the capital to grow and access Corcoran’s business expertise and connections. The show provided a platform for Coverplay, raising its profile and attracting a broader customer base.

Final Deal: Barbara Corcoran agreed to invest $350,000 for a 40% stake in Coverplay.

What Happened To Coverplay After Shark Tank?

Post-Shark Tank, Coverplay expanded its product line beyond just slipcovers. In addition to offering a range of beautifully designed slipcovers, the company now also offers complete play yards.

Prices for the slipcovers start at $49.99, and for the play yards, they start at $99.99, according to their website. This diversification indicates growth and adaptation to consumer needs in the market.

The product has received high praise from a myriad of parents and doctors. Consumers appreciate the ease of cleaning the slipcover and how it helps maintain a fresh and clean play yard for their children.

Doctors value the product for its role in protecting children from infectious diseases. These reviews suggest high customer satisfaction, which is crucial for the company’s success.

Amy Feldman reported a significant growth in the business since their appearance on the show. Coverplay has become the hospitality industry’s largest play yards, slipcovers, and sheets provider.

Their products are now a standard for many hotel brands and cruise lines and are even used at Disney Resorts and Cruise ships. This is a testament to the reputation and quality that Coverplay has managed to establish in the industry.

Looking toward the future, Coverplay focuses on further expansion in the retail sector and launching new products. As Amy stated, their goal is to make Coverplay a household name. With their emphasis on safety, innovation, and quality, this seems like a feasible and promising goal for the company.

The partnership with Barbara Corcoran had a tangible and lasting impact on Coverplay’s growth. The company appears to be thriving and continuing to innovate within its industry. It will be interesting to see how Coverplay grows and adapt in the coming years.

Coverplay Shark Tank Update

Since their appearance on Shark Tank, Coverplay has made impressive strides in the market. They have become the largest provider of play yards, slipcovers, and sheets to the hospitality industry. Major hotel brands, cruise lines, Disney Resorts, and Cruise ships use their products.

The company’s products are also available through various retailers and wholesalers serving hotels and cruise lines. This growth has contributed to their annual revenue reaching $1 million.

Coverplay’s focus post-Shark Tank has been expanding its retail presence and introducing new products. They have also formed collaborations and partnerships to increase their reach and stay ahead of the competition.

They aim to continue innovating and developing new products while efficiently manufacturing their slipcovers to meet the demands of their growing market.

The partnership with Barbara Corcoran and their appearance on Shark Tank have positively impacted Coverplay’s business, resulting in significant growth and success within the hospitality industry.

Our research shows that Coverplay is still in business. Since its appearance on Shark Tank, Coverplay has experienced significant growth and success.

What Is the Net Worth Of Coverplay?

According to our research, the net worth of Coverplay is estimated to be $2.5 million. The valuation of Coverplay was $875,000 after securing an investment from Barbara Corcoran on Shark Tank.