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Shark Tank Windcatcher Update
- Entrepreneur: Ryan Frayne
- Business: Quick, effortless inflation technology
- Ask: $200,000 for 8% equity
- Result: $200,000 for 5% equity and purchase order 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 own technology. 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 blow at it instead of a small 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 technology, but he wouldn’t tell the sharks what it cost to produce. However, he did reveal that his margins are about 60%. This impressed the sharks, but the secrecy did not.
Kevin O’Leary decided to make an offer anyway. He offered $200,000 as venture debt, with a 6% royalty on everything Ryan sold until he made $800,000. After, he’d still have 3% of the company. The sharks reacted poorly to this deal, which caused Ryan to reconsider.
Lori Greiner then came in, offering $200,000 for 15%. She said he would need help with developing other products. Guest shark Chris Sacca wanted to go in with Lori, and she agreed – but said she would need 20% equity for two 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%, but Ryan asked if they would consider a $10 million line of credit. Mark Cuban also made an offer for $200,000 for 8% plus the line of credit Ryan asked for.
Robert dropped to $200,000 for 6.5%, but Lori went down to $200,000 for 5% without Chris in the deal. She also said she would offer the line of credit, and Ryan accepted. Keep reading our Windcatcher update to see where the company is now.
It’s sad news for Windcatcher. During research for our Windcatcher update, we learned that the deal with Lori never closed.
Similar products on the market led to litigation, which dashed any dreams of a deal. Sadly, Ryan passed away from pancreatic cancer in 2018 and the company never recovered. The website is no longer available and the company is effectively out of business.
This will be our final Windcatcher update.
Before you go, make sure to check out our company updates for the other products featured in Season 7 Episode 6.
Get more updates on products and companies by checking out our Season 7 products page.