windcatcher shark tank

Rarely does a product on Shark Tank sparks a behest war between all v sharks. However, Windcatcher, Ryan Frayne's effortless aggrandizement company, was good enough that all the sharks were interested. These quick-inflating pads required near no effort to fully inflate. Ryan's company offered inflatable pads, with the intention to expand the product line quickly. How volition all 5 sharks navigate the bidding war on Shark Tank Season 7? Find out on our Windcatcher update.

Shark Tank Windcatcher Update

Windcatcher Update

Entrepreneur : Ryan Frayne
Business : Quick, effortless inflation technology
Inquire : $200,000 for 8% equity
Result : $200,000 for v% disinterestedness and purchase guild funding
Shark : Lori Greiner

Ryan's pitch began with a demonstration of a regular inflatable pad, showcasing how difficult it was and how much time it took. After this, he showed his ain engineering. The Windcatcher inflated quickly and with minimal effort. The sharks were amazed at the demonstration but confused by the technology.

The valve, he said, is proprietary, and catches all of the air you lot blow at it instead of a minor stream, like a regular valve. He had $165,000 in sales in the few years before filming. R

yan said he'd like to build a brand and license the applied science, but he wouldn't tell the sharks what it cost to produce. Nonetheless, he did reveal that his margins are about 60%. This impressed the sharks, just the secrecy did not.

Kevin O'Leary decided to make an offer anyhow. He offered $200,000 every bit venture debt, with a 6% royalty on everything Ryan sold until he made $800,000. After, he'd however have 3% of the visitor. The sharks reacted poorly to this deal, which acquired Ryan to reconsider.

Lori Greiner then came in, offering $200,000 for fifteen%. She said he would need assistance with developing other products. Invitee shark Chris Sacca wanted to go in with Lori, and she agreed – but said she would need 20% equity for ii sharks.

Next up was Robert Herjavec. He offered Ryan $200,000 for 10% equity, exactly what Ryan asked for. Chris and Lori went to $200,000 for 15%, merely Ryan asked if they would consider a $10 million line of credit. Marking Cuban besides made an offer for $200,000 for 8% plus the line of credit Ryan asked for.

Robert dropped to $200,000 for 6.5%, just Lori went downward to $200,000 for 5% without Chris in the deal. She also said she would offering the line of credit, and Ryan accustomed. Keep reading our Windcatcher update to see where the company is at present.

It's sad news for Windcatcher. During research for our Windcatcher update, nosotros learned that the deal with Lori never closed.

Similar products on the market led to litigation, which dashed whatsoever dreams of a deal. Sadly, Ryan passed away from pancreatic cancer in 2018 and the company never recovered. The website is no longer bachelor and the company is effectively out of business concern.

This volition exist our concluding Windcatcher update.

Before y'all go, make sure to bank check out our company updates for the other products featured in Flavor seven Episode 6.