A third-grader invented a collapsible hanger for a school project, got it into Walmart, made $70,000, then shelved the business for a decade to focus on school. He came back on Shark Tank at 19, got a deal with Mark Cuban and Lori Greiner, and the business still failed. Here is what happened to Hang Ease after Shark Tank.
What Is Hang Ease?
HangEase is a collapsible clothes hanger with a unique hinge in the centre. When you pull a shirt downward, the hinge folds and the shirt slides off easily without stretching the neck or breaking the hanger. When you want to hang something, the hanger locks back into its rigid shape. Simple, effective, and genuinely useful.
Ryan Landis invented HangEase when he was eight years old, as part of a school invention convention in 2003. His teacher challenged students to find a functional object in their home and re-engineer it. Ryan was tired of breaking hangers every time he yanked his shirts off, so he designed a better one.
A classmate’s mother, who happened to be a sales broker with retail connections, saw the project at a school exhibition and recognised its commercial potential. She helped young Ryan get HangEase into Walmart stores. By 2006, Walmart had ordered 400,000 units for $200,000, netting Ryan $70,000 in profit. Not bad for a kid who was not yet old enough to drive.
However, the Walmart relationship ended and HangEase went dormant for nearly a decade while Ryan focused on school.
The Shark Tank Pitch
Ryan appeared on Season 5 of Shark Tank in April 2014, now 19 years old and ready to revive his childhood invention. He sought $80,000 for 30% equity.
The pitch went well initially. The Sharks were impressed that a third-grader had managed to get a product into Walmart. But the decade-long gap between the Walmart success and the Shark Tank pitch raised serious concerns.
Robert Herjavec did not see the need for the product. Kevin O’Leary said it “bored the crap out of him.” Barbara Corcoran did not like the long break from the business. Lori Greiner noted she had seen similar hangers on the market.
Mark Cuban saw potential and offered $80,000 for 30%, contingent on the patent being verified and offering competitive protection. He invited Lori to join the deal and she agreed. Ryan accepted.
What Happened After Shark Tank?
The deal with Mark Cuban and Lori Greiner never closed. Although Ryan’s utility patent had been granted back in 2007, the deal fell apart during due diligence.
Without the Shark investment, HangEase never relaunched. The website went offline, social media accounts were deactivated, and the product disappeared from retail shelves. By 2015, the company had effectively ceased operations.
Ryan Landis moved on. He completed a degree, worked in senior-level merchandising at Neiman Marcus, and pursued an MBA at Rice University. The entrepreneurial spirit clearly remained, even if HangEase did not.
Hang Ease Net Worth 2026
As of 2026, HangEase has a net worth of $0. The company is no longer in business.
The HangEase story is both inspiring and cautionary. A child invented a genuinely useful product and got it into the biggest retailer in the world. But a decade-long gap, pricing that was four times higher than traditional hangers, and a Shark Tank deal that never closed combined to end the dream. Sometimes the best invention in the world cannot overcome the challenge of timing, pricing, and execution.