Plushies and Profits: Play Maysie Finds a Shark Tank Home

Kayla Lupean had a successful photography business before the Covid-19 pandemic hit, but the economic downturn that followed forced her to close shop. Determined to provide for her family, Kayla launched a Kickstarter campaign in March of 2021 to raise money to start a new business, Play Maysie, which produces plush toys for children. She had hoped to raise $20,000, but to her surprise, she exceeded her goal and raised $30,000.

Kayla used the funds to create molds for her plush toys, but she was short on money, so she sold her car to finance the business. Despite the challenges, Kayla’s determination paid off. In 2021, Play Maysie generated revenue of $170,000, and Kayla was expecting a purchase order that would increase her sales substantially. She ordered 5,000 units in anticipation but was disappointed when the order turned out to be only a few hundred. Nevertheless, her projections for this year were an impressive $400,000.

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The Sharks React

Kayla’s business caught the attention of the Shark Tank panel on April 14, 2023. Daymond John and Kevin O’Leary didn’t see the potential in Kayla’s business and went out early. Lori Greiner was impressed by Kayla’s passion and perseverance, but she felt that the product wasn’t strong enough, and so she was out too. Mark Cuban acknowledged the potential for scaling but felt that Kayla was trying to do too much too soon, and he also went out.

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Did They Strike a Deal?

Barbara Corcoran, on the other hand, was enamored with Kayla’s product. She called it the most adorable thing she had ever seen and commended Kayla for being a single mother of an adopted child. Barbara offered $150,000 for 30% equity in the company and a $5 royalty per unit until the investment was recouped. Kayla asked if Barbara would do 20% equity for $200,000, and Barbara agreed.