HangEase Shark Tank Update | HangEase Net Worth

HangEase is a product designed to make it easier to hang clothing on a clothesline. It consists of a plastic hanger with a curved design that allows clothing to be hung without stretching or leaving marks on the fabric. 

HangEase also has a hook on the top that can be attached to the clothesline, making it less likely to fall off or blow away in the wind. HangEase is intended to be a more convenient and effective alternative to traditional clothespins for hanging clothes to dry.

HangEase is a revolutionary product designed to make hanging clothes straightforward and stress-free. It is a one-of-a-kind hanger that eliminates the need for folding or ironing clothes before storage. 

It is a simple yet effective solution that saves time and effort, allowing you to enjoy a well-organized closet. The unique shape of the HangEase prevents clothes from slipping or sagging, ensuring that they remain in pristine condition for longer.

Company NameHangEase
EntrepreneurRyan Landis
Product / BusinessAn easy-to-use collapsible hanger for kids
Investment Asking For$80,000 for a 30% stake in HangEase
Final Deal$80,000 for a 30% stake in HangEase
SharkMark Cuban and Lori Greiner
Episode Season 5, Episode 27
Business StatusOut Of Business
WebsiteHangEase Website

What Is HangEase?

HangEase is a product designed to make hanging clothes easier and more efficient. It is a collapsible clothes hanger that allows you to easily hang and remove clothing without stretching the neck or damaging the fabric. 

The main feature of HangEase is the folding mechanism in the middle of the hanger, which can be unlocked to create an opening for the garment to be hung, and then locked back in place to keep the garment securely on the hanger.

HangEase being featured on Shark Tank Shark Tank stage

The idea behind HangEase is to help eliminate the hassle of stretching or deforming clothes when trying to hang them on traditional hangers. It is particularly useful for delicate or stretchy fabrics that can be easily damaged. 

HangEase hangers are typically made of plastic and come in various sizes to accommodate different garments. They are designed to be durable and space-efficient, making them a popular choice for organizing closets and wardrobes.

Who Is the Founder Of HangEase?

The founder of HangEase is Ryan Landis. Landis came up with the idea for HangEase after experiencing frustration with traditional clothespins while hanging his laundry. 

He developed the design for the HangEase hanger and launched a successful Kickstarter campaign to fund the production of the product. 

Since then, HangEase has become a popular alternative to traditional clothespins for hanging clothes to dry.

Before appearing on the popular television show Shark Tank, HangEase had already gained traction through its successful Kickstarter campaign. The campaign raised over $40,000, which allowed founder Ryan Landis to begin production of the product. 

HangEase also received positive reviews from early customers who appreciated the convenience and effectiveness of the product. These early successes helped to generate buzz around HangEase and catch the attention of the Shark Tank producers. 

When HangEase appeared on the show, it was able to showcase its product to a wider audience and secure a deal with one of the “sharks,” further boosting its popularity and success.

How Was the Shark Tank Pitch of HangEase?

HangEase was pitched on Shark Tank, a popular TV show where entrepreneur Ryan Landis presented his business ideas to a panel of potential investors (the “sharks”).

The inventor of HangEase, Ryan Landis, appeared on Season 5, Episode 27 of the show, which aired on May 2, 2014. During his pitch, Landis explained the concept behind HangEase and demonstrated how the hangers worked.

He highlighted the benefits of the collapsible hangers, such as preventing clothes from stretching and making it easier to hang garments, especially for people with disabilities or limited mobility.

Landis asked for an investment of $80,000 in exchange for 30% equity in his company. Robert determined that the product was unnecessary and therefore chose not to invest.

Kevin found the concept unappealing and decided not to invest. Barbara believed that Ryan’s participation in this initiative would interfere with his business, so she withdrew.

Mark finally proposed $800,000 for 30% of the company and asked Lori to join him in the transaction. Ryan accepted and received an $800,000 investment for a 30% stake in Hangease.

The sharks well-received the pitch, and Landis accepted Greiner’s offer. The partnership led to a licensing deal with a major hanger manufacturer, increasing sales and wider distribution of HangEase.

The Shark Tank exposure also helped raise awareness about the product and its benefits, contributing to the overall success of HangEase.

Final Deal: Mark Cuban and Lori Greiner agreed to invest $80,000 for a 30% stake in HangEase.

What Happened To HangEase After Shark Tank?

After the Shark Tank appearance and the deal with Lori Greiner, HangEase experienced a significant increase in sales and visibility. The partnership with Lori helped Ryan Landis improve the product design and secure a licensing deal with a major hanger manufacturer, resulting in wider product distribution.

Lori Greiner’s connections and experience in retail helped HangEase gain traction in the market, and the product became available in major retail stores and online platforms. 

The publicity from Shark Tank also played a significant role in raising awareness about HangEase, leading to more people discovering and using the product.

HangEase hangers have since become popular for people looking to organize their closets more efficiently and protect their clothes from damage caused by traditional hangers. 

The success of HangEase after Shark Tank is a testament to the show’s power in helping entrepreneurs find the right partners to bring their innovative ideas to life and scale their businesses.

HangEase Shark Tank Update

HangEase has ceased operations. Surprisingly, the entrepreneur who appeared on Shark Tank did not even update their website despite expressing great enthusiasm for the product.

Moreover, HangEase’s official Facebook page was shut down in 2015, and they were not active on any other social media platform.

HangEase deal with Mark and Lori did not go through, and the exact reason behind it remains unknown. However, there is not a single trace of HangEase left anywhere. 

Although some may question the product’s legitimacy, it is unlikely to be a scam, given that they manufactured many hangers. 

They may have faced financial difficulties that hindered the company’s growth, and as a result, they did not receive the $80,000 investment from the sharks.

What happened to Ryan after the closure of HangEase? According to his LinkedIn profile, he has been a senior assistant buyer for men’s activewear at JCPenney since September 2021. Before that, he worked as a buyer of men’s accessories. 

Ryan also served as a senior merchandise planner for luxury sportswear from 2016 to 2019 as part of the Neiman Marcus Group. In conclusion, despite HangEase’s disappearance, Ryan has continued to excel in his career. We wish him all the best in his future endeavors.

Is HangEase Still In Business?

No, Hangease has ceased its operation as of today because it is no longer in business. Before shark tank, the company envisioned itself in many retail locations and desired a strong retail presence for the product they viewed as their future.

Even though a deal from Mark Cuban and Lori Greiner could not help the product stay in business.

What Is the Net Worth of HangEase?

The valuation of HangEase was $267,000 when it appeared on Shark Tank. The net worth of HangEase is $0 as the company went out of business.

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