Coverplay - Shark Tank Update

Amy Feldman and Alison Costa pitched Coverplay, their washable slipcover system for play yards, cribs, and porta-cribs, seeking $350,000 for 15% equity. The idea originated when Costa, a mother of twins, struggled to keep her babies' play yard clean and germ-free, leading her to collaborate with friend Feldman, who had design experience including high-end diaper bags sold in New York boutiques.

Their product creates a hygienic barrier between babies and play surfaces, with machine-washable covers made from soft, durable materials available in over 20 designs. The company had generated $200,000 in gross revenue and secured contracts with high-volume customers including Target, hotel chains, and cruise lines, supported by two patents and valued at $2.3 million.

Kevin Harrington declined due to the short usage period, while Barbara Corcoran offered $350,000 for 40% equity with conditions on product development use. Daymond John countered with $350,000 for 65% plus manufacturing financing, and a three-shark coalition offered $350,000 for 51% with distribution networks.

The entrepreneurs ultimately accepted Barbara's deal.

Barbara Corcoran's investment proved transformative for Coverplay, helping secure major retail partnerships and establishing strong hospitality industry presence. By 2010, products were available in Babies R Us, followed by expansion to Amazon and their own website, significantly boosting market reach.

The company became the largest provider of play yard covers and sheets in the hospitality industry, partnering with Disney Resorts and cruise ships while continuously innovating their product line to include high-quality covers, crib sheets, and travel bags. The business has maintained steady growth and diversification, focusing on retail expansion and new product development.

As of 2021, Coverplay generates approximately $1 million in annual revenue and continues operating successfully under Amy and Alison's leadership, working toward making Coverplay a household name recognized for safe, innovative, and quality baby products.