Shark Tank Update
Shark Tank Pitch
Hangease Shark Tank Update
Published:
2m
Plano, TX
| Name | Hangease |
|---|---|
| Main Presenters | Ryan Landis |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 5/2/2014 |
| Main Location | Plano, TX Loading Map |
| Order Shown in Episode | 3 |
| Final Deal | Deal was made on the show with sharks Mark Cuban, Lori Greiner for $80k for 30% of company contingent on patent, but it fell through after the show. |
Hangease Shark Tank Pitch
Ryan Landis created HangEase as part of a third-grade school project. HangEase is a shirt hanger that collapses for easy shirt removal and snaps together to remain rigid when hanging clothes.
Ryan displayed HangEase as part of his third grade "Invention Convention," where a classmate's mom who had a connection with Walmart saw HangEase and put a good word into Walmart. Walmart placed an order for 400k hangers worth $200k in revenue resulting in a $70k profit. Ryan suspects Walmart did not reorder due to poor sales, which Ryan attributes to bad marketing. The idea has sat on the shelf for years but is now being turned into a business because Ryan is 19 and out of high school.
Kevin doesn't see the vision, and it bores the crap out of him. Barbara has bad experiences with people who tried to resurrect products, and she suggests Ryan put HangEase back in his closet and move on. Lori believes she has seen competitors even though Ryan has a patent and said he hadn't seen any. Mark would be a user himself and while he knows he could've negotiated for more he is happy to give Ryan what he asked for and have Lori in on the deal as well.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $80k for 30% of company | |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Out | Kevin O'Leary | Out |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Deal Never Closed | Mark Cuban, Lori Greiner | $80k for 30% of company contingent on patent |
Barbara Corcoran
Out
Mark Cuban
Deal Never Closed
Kevin O'Leary
Out
Lori Greiner
Deal Never Closed
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Hangease After Shark Tank
The website, hangease.com, said they hoped to bring HangEase to the market soon. The website went untouched for years until going down in 2018. It doesn't appear the deal ever went through, and Ryan put HangEase back in the closet like Barbara suggested and moved on.
According to Ryan Landis' LinkedIn https://www.linkedin.com/in/ryan-landis-869895104, he worked for Neiman Marcus after college as a buyer and, as of 2023, appears to be doing so for JCPenney.Link Preview
LinkedIn
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