Play Maysie: Shark Tank Update – Latest Developments Revealed

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Play Maysie, an innovative and portable dollhouse, made its debut on the popular television show Shark Tank. The product, created by Kayla Lupean in 2020, aims to transform the way children experience playtime with their dolls. Offering a unique, compact, and convenient option, Play Maysie eliminates the mess associated with traditional dollhouses and makes tidying up more manageable.

In April 2023, Kayla Lupean pitched her inventive idea on Shark Tank Season 14, seeking an investment of $150,000 for a 10% stake in her company. Her pitch captivated the audience and the sharks alike as she showcased Play Maysie’s modular design and mobility. It’s no wonder why parents and children have found solace in this product, as it encourages a natural part of childhood development and creativity without the clutter.

With the portable dollhouse gaining traction, the anticipation has grown around how the company has fared since its appearance on Shark Tank. It is evident that Play Maysie has captured the hearts of many, but what lies ahead for the company and its charming creation? Only time will tell, and the support of the Shark Tank investors could surely propel Play Maysie even further into success.

The Pitch

Presentation to the Sharks

In Episode 20 of Shark Tank Season 14, Kayla Lupean, the creator of Play Maysie, stepped onto the stage to present her innovative portable dollhouse to the Sharks: Barbara Corcoran, Mark Cuban, Daymond John, Lori Greiner, and Kevin O’Leary. She asked for $150k for 10% equity, sharing her passion for creating an interactive toy that promoted creativity and organized playtime for kids.

Product Description

Play Maysie is a unique portable dollhouse designed to encourage imaginative play and open-ended exploration. The cozy case, which resembles a metal lunchbox, houses a collection of wooden furniture, magnetic floors, and plush dolls. By adopting sustainable and gender-neutral design principles, Play Maysie aims to appeal to a broader audience and provide a nostalgic feel combined with modern functionality for children.

The dollhouses are designed to be easily carried, making them perfect for on-the-go play. Each set includes:

  • Plush Dolls: Soft, gender-neutral characters that inspire imaginative play.
  • Magnetic Floors: These keep the wooden furniture in place, preventing messes and disorganization.
  • Wooden Furniture: Durable, sustainable pieces that allow for rearranging and customization.
  • Cozy Case: A metal lunchbox-style case that keeps everything secure and organized for transport.

As Kayla Lupean pitched her product to the Sharks, she shared her journey of adopting her daughter Cora, which inspired her to create Play Maysie. The Sharks were impressed by her heartfelt presentation, and the innovative portable dollhouse design, sparking interest in the potential of this modern take on a classic toy.

The Deal

Offer and Negotiation

During her appearance on Shark Tank, Play Maysie’s founder Kayla Lupean was seeking an investment of $150,000 for 10% equity in her company. The portable dollhouse, designed to make playtime more enjoyable for children and less messy for parents, had already secured $500,000 in active inventory.

The sharks, however, were not entirely convinced by the initial offer. Daymond John, Lori Greiner, and Kevin O’Leary all dropped out, explaining that the business was not an ideal investment for them.

Undeterred, Kayla continued negotiating with the remaining sharks, proposing alternative deal structures that might better appeal to their interests. One such idea was a $7 royalty arrangement, in which the investor would receive $7 per unit sold in addition to their equity stake.

Although some sharks were tempted by the prospect of the royalty deal, they ultimately decided to pass on the investment opportunity. This left Kayla without a shark partner.

Company Background

The Founder’s Story

Play Maysie was founded by Kayla Lupean, a single mother who experienced a divorce. She was dedicated to providing a creative and nurturing environment for her child and sought to create a product that would encourage screen-free play. Play Maysie was born out of this desire, a portable dollhouse with magnetic furniture designed to inspire children’s imaginations.

CrowdFunding and Growth

In its early stages, Play Maysie launched a Kickstarter campaign that garnered immense support and helped bring the product to life. Since then, the company’s sales, growth, and revenue have steadily increased. In 2023, Play Maysie had around $500,000 actively invested in inventory and aimed to reach $400,000 in gross revenue by selling most of their units.

Social Impact and Commitment

Play Maysie’s development was deeply rooted in a commitment to positive social impact. One way the company fulfilled this commitment was by creating themed collections like the Home Collection and Cozy Collection, which added new design features to the portable dollhouses. These innovations helped to enhance Play Maysie’s versatility and broadened its appeal.

Moreover, Play Maysie focused on inclusivity and giving back by working to support the foster care system. The company is dedicated to sustainability, ensuring their products are eco-friendly and responsibly produced. In summary, Play Maysie’s mission extends well beyond toy manufacturing, aiming to create an inclusive and compassionate environment for children to play.

Post Shark Tank Update

Product Additions and Changes

After appearing on Shark Tank, Play Maysie has made some notable additions and changes to its product lineup. The portable dollhouse company has continued to focus on sustainability, inclusivity, and social impact, creating gender-neutral and eco-friendly products. Play Maysie now offers a range of innovative inventory items like metal lunchboxes and tins, Home Case features, and the Epiphany store.

Sales and Revenue Growth

Since its appearance on Shark Tank, Play Maysie has experienced significant sales and revenue growth. The company’s creative and easily transportable designs have caught the attention of parents and children alike. Their Instagram presence has helped in building a loyal customer base, leading to increased sales and positive revenue growth.

Public Response and Reviews

The public response to Play Maysie has been overwhelmingly positive. It has received various accolades, such as being named the Best Preschool Toy of 2022 by Parents.com. Customers have praised Play Maysie for its portable and mess-free designs, allowing children to enjoy their toys while keeping their play areas organized. Additionally, the commitment to gender-neutral and eco-friendly products has garnered appreciation from parents who value these aspects.

Partnerships and Collaborations

Play Maysie has formed valuable partnerships and collaborations since its Shark Tank debut. In line with their commitment to inclusivity and social impact, the company has teamed up with brands like Dapper Boi, Tia Lupita Foods, Honey Bunchies, and Oogiebear, propelling them to greater heights in the toy industry. The company has also expanded its footprint by securing retail spaces at places like The Arcade Mall, further promoting their innovative products to a wider audience.

Conclusion

Play Maysie, a portable dollhouse designed by entrepreneur Cristina Lupean, was pitched on Shark Tank Season 14. The unique dollhouse, made of a versatile and easily transportable structure, allowed children to enjoy playtime anywhere they went. The product, founded in 2020 by Kayla Lupean, aimed at revolutionizing children’s playtime and making a positive social impact.

During the pitch, the valuation of Play Maysie was based on the $500,000 invested in inventory. Kayla shared her belief that she could achieve $400,000 in gross revenue if most of the units were sold by the year’s end. The pricing of the product and its potential sales impressed both the entrepreneurs and the investors present.

Despite the promising idea, some Shark Tank investors like Daymond John, Lori Greiner, and Kevin O’Leary were not convinced that Play Maysie was the right investment for them and withdrew from the deal. The remaining investors took interest in the product’s unique features, such as its magnetic components, which made it easy to assemble and disassemble, increasing its appeal to potential buyers.

The materials used in the creation of Play Maysie were chosen with the child’s safety and the product’s durability in mind. This ensured that the portable dollhouse would be a lasting and worthwhile investment for families looking to empower their children’s creativity without compromising on convenience and practicality.

In a friendly and supportive manner, the Shark Tank experience provided valuable exposure and feedback for the entrepreneurs behind Play Maysie. Although not all investors were eager to jump on board, the pitch still offered a fantastic opportunity for the brand to gain traction in the market and continue making a positive impact on the world of children’s playtime.