Overplay Shark Tank Update – Net Worth, Pitch & Deal

The gaming world has changed a lot over time, going from simple games in arcades to big virtual worlds and competitive gaming leagues.

Technology getting better has helped this change, making graphics, speed, and online play better. Now, with cloud gaming and virtual reality, gaming is getting even more exciting.

On the 18th episode of the 15th season of ABC’s show ‘Shark Tank’, there was a company called Overplay. They had a new app that they said could change gaming a lot.

They also had a cool feature in their app that could make gaming different in a big way. They have asked for $500k for 2.5% equity at a $20M valuation. Did they give a successful pitch and get the deal or not?

Overplay Net Worth

Mark Cuban invested $500k in 4% equity in the company, and Overplay will pay him $500k to promote and create content for them. Based on the investment of Mark Cuban the net worth of the Overplay is estimated at $12.5 million.

What Happened To Overplay After Shark Tank?

Overplay has become a leader in digital media by providing a simple platform for anyone to create games without needing to know how to code. With Overplay, you can easily turn your videos into fun games. Right now, it has about 2,000 followers on Instagram, and this number is likely to grow a lot after Dan Projanski and Caroline Strzalka appear on ‘Shark Tank.’

Did Overplay Get A Deal On Shark Tank?

Yes, they locked the deal with Mark Cuban for $500k for 4% plus Overplays pays $500k to promote and create content for Overplay.

Shark(s) InvolvedOffer madeDemandCounterofferAccepted?
Barbara CorcoranOutN/AN/AN/A
Jason BlumOutN/AN/AN/A
Lori GreinerOutN/AN/AN/A
Mark Cuban$500k15% Equity$500k for 4% plus Overplays pays $500k to promote and create content for Overplay.Yes
Kevin O’LearyOutN/AN/AN/A

Overplay Shark Tank Update

overplay net worth

In Shark Tank episode 18, Dan Projansky and Caroline Strzalka introduced their app, Overplay. The Overplay has already gained support from prominent Venture Capitalists such as Village Global, Gaingels, Sound Media Ventures, Plus Eight Equity Partners, Red & Blue Ventures, Band of Angels, Stampede Ventures, and Outlander Capital. Additionally, they successfully raised over $1 million on WeFunder.

While they’re currently fine-tuning some technical aspects in the first half of 2024, they plan to start making money from the app and also work on developing a set-top box player by the year’s end. They’re probably seeking a Shark to join their VC team, adding Shark appeal and expertise to their already impressive roster of backers. Did they get the deal or not, let’s find out.

Founder BackStory

Dan Projansky and Caroline Strzalka, co-founders of Overplay, boast a track record of achievements in media, entertainment, and finance. They met back in 2008 while working at the Sesame Workshop.

Dan’s experience includes designing games for Xbox, Playstation, and Nintendo, while Caroline has a background in starting and growing businesses. Together, they aim to shake up the gaming industry, which is worth $574 billion.

What sets Overplay apart is its social aspect. Users can take any video and turn it into a video game, then share and play it with friends, all without needing to know any coding. Even brands can get in on the action by turning their commercials into games. Overplay holds a patent for “gamifying videos” and for their technology that smoothly transitions between portrait and landscape views on mobile devices

Initial Pitch

The couple explained it’s both a gaming platform and a game creation system that makes it easy for anyone to turn their videos into fun games. Their goal is to make game development accessible to everyone, blurring the lines between creating content and playing games.

At the core of Overplay is a simple yet groundbreaking idea: “Make your video into a game.” This concept encourages users to unleash their creativity by turning any video they record into an interactive game. Whether it’s videos of sports, dancing, pets, or anything else, Overplay’s AI technology acts as a creative assistant, instantly transforming these videos into exciting gaming experiences.

The process is incredibly simple. Users record videos using their smartphones and then upload them to the Overplay platform. From there, the AI takes over, allowing users to turn their videos into complete games without needing any coding skills.

This opens up endless possibilities, letting users share their games with friends, challenge each other, and explore games created by other Overplay users.  They’ve asked Mark and Kevin to play two different games in which Mark Cuban won and they have a full set of laughs

Overplay stands out because it’s for everyone – whether you’re a content creator, social media user, gamer, or brand. It’s not just about casual gaming; it connects with big markets like casual gaming, video advertising, and social media, which together are worth $574 billion.

Queries about the Product 

Lori asked if they made any money yet. In reply, they said that they will monetize next year. Jason Blum asked if they had other investors. Caroline replied that they had raised $3.7M. He further inquired about the percentage of the company they’ve given.

The partners replied “Around 20%”. Mark Cuban asked what type of tool they were using to develop the game. Dan explained that they are only using IOS and Android codes.

Sharks further inquired about the proprietary and how they make money. Dan replied there are two ways the first is inter-app advertising and second they are allowing every brand to create their games.

Shark Responses and Final Deal

what happened to overplay after shark tank

Barbara said that every time she invested in that kind of business she lost her money as the round of raising money keeps going on and on so she is out. Guest shark Jason Blum also said the same and explained how bad the experience he had in investing in the same kind of gaming business, so he is out too.

Mark gave an offer of $500k for 15% equity, which they are hesitant about. Mark gives a counteroffer of $500k for 4% plus Overplays pays $500k to promote and create content for Overplay. The team said that it was excellent and they locked the deal with Mark Cuban.

Product Availability

You can download the Overplay app for free from both the Google Play Store and the Apple Store. Don’t miss out on this chance to elevate your gaming experience. Plus, it’s worth noting that the app has received positive reviews on the Apple Store.

Conclusion

Appearing on ‘Shark Tank’ was a big deal for Overplay. They were looking for a lot of money from the judges to grow their team and make their gaming app even better.

They’ve made a few small games before but are still working on some technical stuff. They’ve said that their GameMaker app, which turns videos into games, will come out in April 2024. Investors got a sneak peek of Overplay’s latest boxing game in an exclusive webinar.

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