People of all ages enjoy playing games, and video games, in particular, are a favorite for many. Games offer a fun way to pass the time and often provide a sense of friendly competition. However, not every game appeals to everyone. We each have our own preferences, and sometimes we get inspired to create our own games based on our favorite videos, movies, or popular cultural trends. This allows us to enjoy gaming experiences that match our unique interests and personalities. Even if we try to make our own one, it takes a lot of time and money.
Dan Projansky and Caroline Strzalka, the owners of Overplay, have launched a system software to help all video game lovers. Their software allows anyone to make a video game out of their favorite videos within a couple of minutes. The games can be made out of any family video, movie trailer, social media post, or any other that one likes.
The owners came on Shark Tank to request $500K in exchange for 2.5% in Their company. They also made some mini video games from the social media posts by the sharks and created a competition of games between Kevin and Cuban on the set. Let’s see if they got the deal or not.
Overplay Net Worth Shark Tank Update
Dan and Caroline were looking for an investment of $500K in exchange for 2.5% equity in Overplay. At the time of the episode, they valued their company at $20 million. They successfully secured a deal with Mark Cuban for an investment of $500K for 4% equity, along with a $500K commitment from Overplay for promoted and created content. The investment adjusted the company’s net worth to around $12.5 million. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Overplay in 2024 is around $50 million.
$500K for 4% equity + Overplay pays Mark $500K for promoted and created content
Yes
Lori Greiner
Out
N\A
N\A
Barbara Corcoran
Out
N\A
N\A
Jason Blum
Out
N\A
N\A
The Owners’ Backstory
Caroline related that she and Dan met at “Sesame Street”. At that time, she was into social media business development at Dan’s interactive production “Sesame”. They worked side by side for seven years and made about 60 interactive products. Now, they are promoting their software program that helps to convert any video into a game.
Initial Pitch
The founders came on the show to seek $500K for a 2.5% equity stake. Their company offers software that helps to change any video into a game. It works by adding the video that one wants to play as a game and then dragging and dropping taps and swipes anywhere in the video for movement and punches based on the video that has been selected.
It can also be done by activating the recording option which will record any tap and swipe done by the users and transform it into a game. Moreover, their technology is also proprietary, patented, and AI-based.
Queries about the Product
Kevin asked the first question about the degree of seriousness of the game. Dan highlighted that their games are not on an extreme level but basically a few seconds of TikTok-like-like videos to be uploaded as a post. These games do not have multiple users and levels system as well.
After highlighting their crazy $20M valuation, Jason asked about their sales so far. Caroline replied that they have already done a soft launch and their software is already available on IOS and Android. She also added that their software has already been played a million times and they have more than 150K downloads in just a couple of weeks.
Lori asked about their accumulated money from the software. The co-founder mentioned that they will be monetizing their software next year.
Jason asked about their investors. She highlighted that they have already raised about $3.7M and have already given 20% equity of their company to the investors.
Kevin was curious to know the amount they were left in the bank. Dan pointed out that currently, their bank balance is about $750K.
Cuban wanted to know their medium for developing the software. He highlighted that the software is proprietary and is developed from scratch by using Android and IOS codes.
The guest shark wanted to know about the part of their program that is patented. Dan replied that it is on making the games by shifting simple videos into a playable system.
Lori asked if their patent had been issued. He replied in the affirmative and mentioned that it was a utility patent.
Kevin inquired about their way of making money. Dan mentioned that there are basically two steps in making the program monetized. One of them is through interactive advertising which has 7 times more chances of conversion as compared to a regular ad.
Shark’s Response and Final Decision
Corcoran was the first shark to drop the deal as she highlighted her bad experience with video game companies.
Jason also passed the deal as he related that he had already lost his $250K which was invested in a friend working on a similar idea.
Cuban offered them $500K for 15% equity in their company.
Dan counter-offered him $500K for 3.25% equity along with 0.75% advisory shares. Cuban readily rejected the counteroffer.
Cuban revised his offer to $500K for 4% equity along with Overplay paid him $500K for promoted and created content.
Product’s Availability
The deal with Cuban went through, and now Dan and Caroline officially have him on their team. It looks like Cuban has already started promoting their brand—he is featured right on the Overplay website. In the days after the episode aired, downloads shot up by 1000%. In a news release, Mark Cuban shared his excitement, saying, “I love geeking out over great stuff. Overplay is great stuff!” The company also raised $741,218 on a WeFunder campaign that launched when their episode first appeared.
Conclusion
Dan and Caroline successfully partnered with Cuban, getting his investment and expertise to bring Overplay to new heights. Their unique software lets users turn videos into simple games, making game creation easy and accessible for everyone. With Cuban promoting the brand, Overplay saw a massive increase in downloads and raised additional funds through WeFunder.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
