Going out to clubs can be a hassle when you’re stuck outside, unable to get in. Alashe Nelson from Miami saw this as a problem worth solving. He created EZ VIP, a company that lets people pre-purchase their night out. It would help avoid the uncertainty of club entry for people.
Alashe came to Shark Tank asking for $150,000 in exchange for 15% equity in his company. His goal was to expand EZ VIP beyond Miami and make it a nationwide success. Did the Sharks see the potential in his idea or did they leave him standing outside?
EZ VIP Net Worth
Alashe Nelson asked for a $150k investment in exchange for 15% equity in his company. This meant he valued his company at $1 million. He made a deal with Daymond John and Mark Cuban for $150k in exchange for 30% of his company. This new deal valued his company at $500,000. Despite the initial success and celebrity endorsements, EZ VIP eventually shut down by 2015. Assuming an annual business decline rate of 10% after the closure, the current net worth of EZ VIP is $0, as the company is no longer operational.
EZ VIP Shark Tank Update
What Happened to EZ VIP After Shark Tank?
After the show, EZ VIP seemed set for success. Daymond John used his connections to secure a celebrity endorsement from Pitbull. This partnership aimed to increase the brand’s visibility in the nightlife industry. The company focused on high-end clients. It offered them pre-booking for tables and bottle service at popular clubs in cities like Miami and Las Vegas.
Despite these promising steps, EZ VIP’s success didn’t last. By 2015, the company had shut down. Its online presence faded, with the website no longer active and social media accounts quiet since 2014. Alashe Nelson’s Instagram, now highlights his newer ventures like the Passive Trucking Company. The last mentions of EZ VIP on his social media date back to 2012.
Did EZ VIP Get a Deal on Shark Tank?
Barbara Corcoran was the first to back out because she couldn’t relate to the nightlife business. Kevin O’Leary shared similar feelings and didn’t invest either. Mark Cuban liked the concept but felt he couldn’t give enough time to it, so he also passed. Robert Herjavec showed interest but wanted Daymond John to join him. Together, they offered $150,000 for 45% of the company, but Alashe turned it down.
Daymond then sweetened the deal by offering an endorsement from Pitbull, an A-list celebrity. Mark Cuban re-entered and teamed up with Daymond, but they cut Robert out of the deal. Kevin O’Leary returned with an offer of $150,000 for 25%, and Robert joined him, promising another celebrity endorsement. In the end, Daymond and Mark offered $150,000 for 30%, which Alashe accepted. He believed their connections would help grow EZ VIP beyond Miami.
| Shark(s) Name | Offer and Demand | Counteroffer | Accepted? |
| Kevin O’Leary | #1: $150,000 for 25% of the company ($75,000 from Robert) #2: $150,000 for 20% of the company ($75,000 from Robert) | N/A | |
| Mark Cuban | Yes ($150,000 for 30% of the company + A-list celebrity like Pitbull (With Mark Cuban) | N/A | N/A |
| Robert Herjavec | #1: $75,000 for 45% of the company (with Daymond) #2: $75,000 for 25% of the company (With Kevin) | $75,000 for 18% of the business | N/A |
| Daymond John | Yes ($150,000 for 30% of the company + A-list celebrity like Pitbull (With Mark Cuban) | $75,000 for 18% of the business | Yes ($150,000 for 30% of the company + An A list celebrity like Pitbull (With Mark Cuban) |
| Barbara Corcoran | Out | N/A | N/A |
Founders Backstory
Alashe Nelson came up with the idea for EZ VIP after experiencing the frustration of being stuck outside a club. He knew how embarrassing and uncertain it could be. So, he decided to find a better way to handle nightlife. His solution was to create a service where people could pre-purchase their night out. It made sure that they’d have a smooth experience from start to finish. Starting EZ VIP wasn’t easy. Nelson had to build the business while proving his concept could work. Along the way, he hired staff, secured office space, and began turning a profit, all while staying focused on expanding his company.
Initial Pitch
Alashe Nelson walked into the Shark Tank with a clear vision for his company EZ VIP. He was asking for $150,000 in exchange for 15% of his business. EZ VIP was a service that allowed people to pre-purchase their night out. This included admission tickets, bottle service, and even specific VIP tables at top clubs. Alashe presented his business as a solution to the common problem of uncertainty and embarrassment when trying to get into popular clubs.
He explained how EZ VIP worked. Alashe compared it to how Expedia and OpenTable make booking flights and restaurant reservations easy. Customers could choose their event, pay in advance, and enjoy a hassle-free night with the option to have an EZ VIP rep walk them right into the club. Nelson highlighted the company’s success in Miami and shared his plans to expand to other major cities. His goal was to partner with the Sharks to help take his business to the next level.
Queries About the Product
During the pitch, the Sharks asked several questions about EZ VIP’s business model and growth potential. They wanted to know about its revenue. The founder said the company made $90,000 in net profits and over $250,000 in gross sales, all from Miami. He explained that EZ VIP targeted only high-end, luxury clubs. If a venue was on their site, it was a top location where people wanted to be.
The founder shared how the service worked. He gave an example of a customer from Russia who booked a VIP table months in advance. Even when table prices skyrocketed due to a big event, the customer kept the original price. This showed the value of booking early with EZ VIP. Some Sharks were skeptical. Daymond doubted that club promoters would honor the pre-booked prices if they could get more money at the last minute. The founder explained that venues pre-sold some tables to guarantee cash flow. This assured EZ VIP clients that their reservations were secure.
The founder also discussed the company’s plans to expand beyond Miami. EZ VIP had secured contracts in cities like Los Angeles, Las Vegas, and New York. Alashe emphasized that their service focused on access and convenience, which were important for their clients. The Sharks had a mix of curiosity and skepticism. Alashe stayed confident in his business model. He highlighted the importance of securing high-end venues and giving customers a smooth experience.
Shark’s Response and Final Deal
Barbara Corcoran was the first Shark to go out. She didn’t want to invest because it was a life she couldn’t even relate to. Kevin O’Leary had similar thoughts to Barbara, and he also didn’t invest in the business. Mark Cuban thought this was a business he couldn’t spend enough of his time in. For those reasons, he didn’t invest.
Robert Herjevac liked the business idea, but he wanted Daymond to be in on the deal. Daymond and Robert offered the $150,000 for a 45% stake, but Alashe turned the offer down instantly. Daymond wanted to sweeten the deal, so he offered an A-List celebrity to endorse EZ VIP. The celebrity he offered was Pitbull. Mark Cuban joined back in and wanted to go half and half with Daymond, but no Robert would be included in the deal.
Kevin O’Leary came back in on the deal and offered Alashe the $150,000 for a 25% equity. Robert was betrayed by Daymond and Mark, so he joined Kevin and went half and half with him. He also promised to bring an A List celebrity for Alashe. Daymond was determined to get the deal done, so he cut down the percentage from 45% to 30%. Kevin reduced the percentage down to 20%, cutting the 5% more.
After some back-and-forth, Daymond John and Mark Cuban agreed to invest $150,000 for 30% of the company. Alashe Nelson accepted the offer because he knew their connections and experience could help his business grow. The plan was to expand EZ VIP beyond Miami to other big cities. Nelson believed this deal would push his company forward in the nightlife industry.
Product Availability
The nightclub reservation service that appeared on Shark Tank is no longer operational. After securing an investment from Daymond John and Mark Cuban, the company initially thrived. It had celebrity endorsements and a focus on providing exclusive access to nightlife experiences. However, the official EZ VIP website is inactive, and its social media pages have not seen any updates.
Conclusion
Alashe Nelson entered the Shark Tank seeking $150,000 for 15% of his company, EZ VIP. It got the attention of Mark Cuban and Daymond John despite the skepticism. After some negotiation, they agreed to invest $150,000 for 30% of the company. They offered their connections and experience to help EZ VIP grow beyond Miami. Alashe left the Tank with a deal that seemed ready to take his company to new heights. But even with early success and celebrity endorsements, EZ VIP eventually shut down. This marked the end of its journey.
My name is Saad, and I’m a Civil engineer turned web developer and a passionate content writer. One of my favorite tv shows to watch is Shark Tank. The entire business aspect of the show and how everyone wants to be an entrepreneur resonates with my inner entrepreneur side as well. Writing for the show as well as being a fan, I love every second that I write for it. Read more About me.