Coverplay Shark Tank Update | Coverplay after Shark Tank

What is Coverplay?

Coverplay is a machine-washable liner designed for children’s play yards that forms a barrier between the play yard and the child, keeping germs and dirt away from the infant.

It is easy to clean and can be removed for cleaning.

It was started by Alison Costa and Amy Feldmen, and is loved by mothers for its ability to protect and simplify the cleaning of playpens, while also safeguarding the child from unsanitary conditions.

It can also be used to cover play yards leased from hotels or seen at childcare facilities.

Who is the founder of Coverplay?

Alison Costa and Amy Feldman founded the company Coverplay. Alison has a background in hotel management and business administration from Drexel University, while Amy has a master’s degree in counseling and psychology from Temple University.

Amy is currently the CEO of Coverplay, and Alison serves as president of All Global Interiors. The idea for Coverplay came about in 2007 when Alison wanted to create a clean and germ-free play yard for her infants.

She enlisted the help of her friend, Amy, who had prior design experience creating diaper bags that were sold in high-end stores in New York City.

Together, they developed a product that would appeal to both young mothers and high-volume consumers like hotels and daycare institutions.

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What Happened to Coverplay at Shark Tank pitch?

Costa and Feldman, the founders of a company, faced a major obstacle when they received a large order but lacked the funds to fulfill it.

They went to Shark Tank, a reality TV show where entrepreneurs pitch their businesses to a panel of investors, in search of an investment to help their company grow.

They asked for $350,000 in exchange for 15% ownership in their company, which was valued at $2.3 million.

They had patents on their products, a successful track record, and contracts with major retailers and hotels.

However, the investors made different offers, with some wanting a larger percentage of ownership in exchange for the investment.

After considering the options, the founders ultimately accepted an offer from Barbara Corcoran for $350,000 in exchange for 40% ownership and the use of the funds for product development.

They also agreed to package the patent separately. They left the show with a deal and still retained majority ownership of the company.

What Happened to Coverplay after Shark Tank?

Barbara successfully closed a deal during a pitch, and the products are now available through various physical and online retailers, including Amazon.

The company primarily sells its items through a wholesaler distributor, who then resells to hotels and cruise lines.

The business is still active and customers can purchase products through the company’s website. As of November 2021, the company is doing well with annual sales of $1 million.

Competitors of Coverplay

There are many competitors of Coverplay in the market and they are: Versa-Sheet, Playard Liners, and Tidy Sheets.

Net Worth of Coverplay

The company’s value dropped from $2.3 million to $875,000 after Barbara’s investment, but it has since recovered due to strong sales, with annual revenue reaching $1 million in 2021, increasing its net worth.

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Coverplay FAQs

What is Coverplay?

Coverplay is sheets that goes over the Playard and protects it form the germs of your kid.

Who is the founder?

Alison Costa and Amy Feldmen are the co-founders.

How much were asking on Shark Tank?

They were seeking for $350,000 for 15% of the business.

Did they get the deal??

Yes, they did. They received $350,000 for 40% of the company from Barbara.

Is Coverplay still in business?

Yes. It is still in business and it’s popular.

Does it really work?

Yes, it does. It works by being easy to put on and easily removable for cleaning.

How long will it take for my Coverplay to arrive?

Handle their order within 1–2 business days. They ship from Los Angeles through UPS or USPS. Shipping takes roughly 5 business days.

How do you handle returns?

Only merchandise returned in its original packaging within 14 days of receiving will get a full refund. The customer must first get a Return Authorization (RA) number from COVERPLAY (Return Authorization).

Is Coverplayard compatible with my play yard attachments?

No Coverplayard or Coverplay product is designed to be used in conjunction with ANY type of play yard attachment.

Why do you need a Coverplay?

One needs a Coverplay if they want to keep their Playard clean from germs.

What are the key factors that affect the growth of Coverplay?

One key factor that affects the growth of Coverplay is the presence of substitutes. If people look for a substitute to something, then one will move on to a different brand.

This will hit hard at Cover Play because there are a great number of substitutes for the product. Most products in the market are made using similar materials and serve similar functions.

How do we safeguard ourselves against germs and viral infection?

Between the play yard and the youngster, we provide an additional barrier as with the mattress sheet. Unlike slipcovers, play yards are not machine washable.

They take far longer to clean and frequently need the caregiver to carry it outside to be hosed off.

Coverplay is self-sustaining in what way?

If they’ve traveled with their play yard, they’re already aware that shipping the unit costs $25 each way. Additionally, they are rather large, weighing in at around 25 pounds.

The slipcover is small enough to fit in a luggage, making it one less item to travel. While we recognize that several manufacturers provide reasonably priced play yards, they are extremely difficult to clean and exhibit wear and tear over time.

What is the net worth of Alison Costa?

Alison Costa net worth is $1.1 Million.

What is the net worth of Amy Feldmen?

Amy Feldman net worth is estimated at $1 million.