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EZ VIP Shark Tank Update

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EZ VIP was introduced as an “Online Event Booking Company” that offers their customer to book top-class, VIP events and parties at any nightclub that is supposed to happen nearly to the customer.

People can look for the best events that are going to happen in any city and pre-purchase their passes and plan their night outs. This idea is as same as using any website to book flight or movie tickets or what other websites facilitate us to book a table in a restaurant, EZ VIP does this for the nightlife.

Once the customer finds his/her desired event, he/she can purchase the entry pass or ticket also. Customers can also purchase their bottle services and the exact VIP table inside the venue. After selecting their package and making payment, customers can be assured to take their service and their table without any problem.

EZ VIP also facilitates us for advance bookings without any time issues, no matter whether the booking can be done a day or three months before. The customers can enjoy the service for which they have paid.

EZ VIP at a glance

SeasonSeason-03, Episode-01
Business IdeaOnline Event Booking Company
FoundersAlashe Nelson
Asked For$150,000 for 15% of Equity.
Accepted Deal$150,000 for 30% of Equity.
SharksMark Cuban and Daymond John
Business IdeaOut of Business
WebsiteEZ VIP

Index:

Founder Story:

EZ VIP was founded and developed by a young entrepreneur named Alashe Nelson, from Miami, Florida. Alashe was working in her mother’s founded company “Concierge with a Smile” for the past 13 years. Later he started inventing this idea after he was not allowed to get into a club, as it was too much crowd over there. He returned back to his home and thought as many other people also find this problem. Then, he decided to fix this problem by making club bookings more convenient. Thus, he invented and launched his website.

Did EZ VIP get a Deal on Shark Tank?

EZ VIP introduced himself on ABC’s famous reality show Shark Tank in Season 3 and Episode 1, owner described his business model and explained its operations and story behind it, and asked for an investment of $150,000 in exchange for 15% of their company.

He started by giving an overview of the problems that a person faces while going to clubs for partying and how to fix these problems with his services. Sharks liked his idea and services and asked him for the sales figures. EZ VIP made over $90,000 last year just from Miami itself. It doesn’t have any other branches but it has secured its contracts in Los Angeles, New York, and Vegas city. Most of its operations are done from its website itself.

Sharks showed their interest in this business but they didn’t find this venture as a profitable business. Thus, Lori, Kevin and Mark Cuban backed themselves. Later Robert offered Alashe an investment of $150,000 for 45% if Daymond can join him and Daymond joined Robert in his offer and gives Alashe the assurance that they will bring all A-listed artists as the face of his company by bringing them from their shares. But the owners countered them for 18%.

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Later Mark Cuban decided to come back but he wanted to kick off Robert from this deal and joined hands with Daymond. Later, Daymond also joins hands with Cuban and they collectively offered Alashe $150,000 for 45% and A-listed artists. Then, Kevin also comes back and offers $150,000 for 25% of equity and Robert also joins him.

Daymond again revised his offer at $150,000 for 30%, initially, after then Kevin also revised his offer to 20%. Owner Alashe Nelson liked the offer from both sides but he opt for Daymond and Mark Cuban’s offer as they have better offerings even at a high share percentage.

What Happened to EZ VIP after Shark Tank?

After the show, EZ VIP received a massive hike in its services as the Shark Tank effect, it received way more traffic to its website than it hadn’t received before. It had successfully closed the deal with Sharks and Robert brings AKA Pitbull into the company to feature as the face of the company.

But it didn’t perform well in the market as its website starts malfunctioning and people also complained that they booked those events that gives them nothing in return. EZ VIP also failed in expanding its business in other cities as well.

The owner’s Twitter and Instagram accounts got deactivated in 2014. As people started canceling the events that caused them a great loss that leads to the closing down of their business.

Competitors of EZ VIP

EZ VIP was a very new and unique venture into the market that offered very unique services that are never done before. Therefore, it has no competitors that are found in the market.

Net Worth of EZ VIP

The company was valued at a valuation of $5 Million at the time of its Shark Tank appearance however the company shut down its operations in late 2014 and early 2015 and the current valuation of the company is not available anywhere.

Is EZ VIP Still in Business?

NO, the company is not continuing its business operations because it was unable to provide better services to its customers, also there are various other issues related to its website that forced it to shut down its operations.

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FAQs:

What is EZ VIP?

EZ VIP was introduced as an “Online Event Booking Company” that offers their customer to book top-class, VIP events and parties at any nightclub that is supposed to happen nearly to the customer.

Who founded EZ VIP?

EZ VIP was founded and developed by a young entrepreneur named Alashe Nelson, from Miami, Florida. Alashe was working in her mother’s founded company “Concierge with a Smile” for the past 13 years. Later he started inventing this idea after he was not allowed to get into a club, as it was too much crowd over there.

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