Cyndi Bray was excited for the opportunity to pitch Wad Free, her innovative product for hassle-free wad-removal solution for sheets, on Shark Tank. After securing a deal with Kevin O’Leary, Cyndi was ready to take her business to the next level. But how did it go for her? We all know that securing a deal on Shark Tank isn’t a guarantee of success, but how did Wad Free fare?
That’s what we are here for. In this guide, we break down what happened to Wad Free after Shark Tank. We discuss the product itself and its evolution over time, take a look at sales, customer feedback, and more to provide you with an in-depth analysis of how it all went down for Cyndi Bray’s business.
What is Wad Free and Who is Behind This Product
To create the product, Cyndi went as far as learning physics and CAD software. The research for the project began in 2019. The product took several prototypes and attempts but eventually, after many hours of hard work, it was ready for production.
The first working prototype was born in 2020, in the middle of the Covid-19 pandemic. Cyndi was fast on getting her creation patented and began manufacturing Wad Free to the masses.
But what Wad Free is exactly? It’s a plastic square you need to secure on the corners of a single flat sheet. After that, the Wad Free does the rest of the work: it keeps your sheets wrinkle-free and organized during the wash cycle.
Its little but efficient invention has caught the attention of many people. It is designed to stay on top of other clothes in the washer and can be used with all sizes of sheets up to king size.
Cyndi began production in the middle of the pandemic, and she managed to keep up with all the hardships of the times. While it wasn’t 100% smooth sailing, she was determined to make Wad Free a success.
She managed to set up a website and handled social media as well as dealt with the logistics to make sure the customers could actually get the product they ordered.
Cyndi has actually managed to get into Grommet, a newsletter that shed light on innovative products. The same newsletter has been read by Shark Tank producers, who eventually invited Cyndi to the show.
But Cyndi wanted to take a step further and reach out to more potential customers. She applied to the Shark Tank and has been invited in 2021. So how did it go for her? [1] [2] [3]
Wad Free at the Shark Tank Pitch
Cindy has been a huge fan of Shark Tank and she was thrilled to be invited as a guest on the show. In fact, she was inspired to create Wad Free after finding out about Shark Tank when she had to quit work to take care of her ill husband.
When she took the stage, Cindy wowed everyone with her enthusiasm and impressive product. She presented Wad Free in a very professional manner, highlighting its main features as well as potential uses.
She went on to display how easily sheets wad when put in the washer and how Wad Free can help prevent that. She even gave the sharks a demonstration of how to use it.
Kevin wonders whether it can damage clothes with its sharp edges and Cindy explains that it does not – the plastic is rounded and it will never damage your sheets or clothes.
When asked about sales, Cindy explains that since 2020 they sold out around $ 510,000. Each Wad Free costs around $ 3.50 to manufacture and the same price for shipping. She sells her product at Wall-Mart, The Grommet, and Amazon making a good margin from each sale.
The Sharks were impressed with the product and Cindy’s enthusiasm. However, not all sharks are willing to invest. Mark isn’t interested in laundry products and while Robert is happy to hear that Shark Tank inspires people, he goes out as well.
Kevin is interested to hear more about her business and offers Cindy $ 200,000 for 10% with a $ 1.50 royalty per unit until he hits $ 1,000,000. Lori too jumps in. She has had her own history with laundry products and believes it has a lot of potential. She promised to handle the infomercial marketing for the product and offered Cindy a deal of $ 200,000 for 25%. Kevin begins claiming that he’d be offering a better deal than Lori, but Cindy counters Lori’s offer with 10% for a higher royalty rate. Lori counters with 20% and Kevin drops to 5% and Cindy accepts Kevin’s deal! [2] [3]
How is Wad Free Doing After the Show
So what has happened since Cindy’s appearance on Shark Tank? Well, after the show aired Wad Free gained a substantial boost in sales all thanks to the appearance on Live TV. However, the question is, whether that initial burst led to long-term success.
The answer is yes, Wad Free has certainly seen sustained growth that was not necessarily a direct result of the Shark Tank appearance. In fact, Cindy and her team made some smart decisions after the show that have kept Wad Free in business for years now.
The sales had received a major boost and Cindy was prepared for that. She had geared up with extra inventory and personnel in anticipation of the orders she would receive after her segment aired.
As of now, it’s still too early to say whether the deal with Kevin closed or not, but it’s been a long time since the episode aired and there are no updates from Kevin himself. This could mean the deal never closed or it could just be that he hasn’t made any public announcements yet. Negotiations can last several months and that’s often the case with Shark Tank deals, so it’s entirely possible the deal is still in progress.
Wad Free also got some great publicity on social media by sharing images of their product being used on Shark Tank. The Instagram page of the product has only around 1,000 followers but is being constantly updated with content to engage the audience.
Cindy also constantly updates her own website and blog with interesting stories and helpful advice to keep Wad Free in the limelight. The product was also featured in many popular outlets such as Newsweek, The Denver Post, and CNN underscored. All this further raised awareness of the product and increased sales.
You can purchase Wad Free in a variety of ways as we already mentioned. First, you have the official website where you can buy the product directly. Then there are also places like Amazon and Bed Bath & Beyond that carry the product. In addition, you can purchase Wad Free in retail stores such as Walmart. This gives customers the opportunity to see and try the product before they buy it.
All in all, it seems like Wad Free is doing quite well after Shark Tank. The initial burst of sales has been sustained over the years thanks to clever marketing and strategic partnerships with big-name retailers. To stay up-to-date on where you can buy Wad Free or what Cindy’s team is working on next make sure to follow their social channels or blog periodically. [2] [3] [4] [5]
Wad Free Net Worth
It’s hard to say how much money Wad Free is worth since financial information about the company is not publicly available. However, based on estimates of sales and profits we can make some educated guesses.
The sales have likely grown substantially since then as well given that it’s now available from big-name retailers like Walmart, Amazon, and Bed Bath & Beyond. Estimates suggest that as of late 2022, the company is worth $ 5 million in revenue. [6]
FAQ
Did wad free make a deal on Shark Tank?
Yes, Wad Free was able to make a deal on Shark Tank. They got $ 200,000 for 5% equity with a $ 1.50 royalty per unit until he hit $ 1,000,000 from Kevin O’Leary.
The deal was accepted by the Wad Free team, and as of 2022, the negotiations are still ongoing. We believe the deal is still in effect, with Wad Free using the investment to grow their business and expand into new markets.
What was the biggest loss on Shark Tank?
Breathometer, a breathalyzer device that connected to smartphones, was the biggest loss on Shark Tank. After receiving offers from all five sharks, founder Charles Michael Yim accepted the offer of $ 1 million. However, after the show aired and some unexpected challenges emerged, Breathometer failed to reach its milestones and a Federal Trade Commission investigation was opened. The product actually wasn’t tracking blood alcohol levels accurately, and the company had to shut down, with Him losing his entire investment and Mark Cuban calling this the worst deal he ever made.
Who is the most successful Shark Tank investor?
Mark Cuban is the most successful Shark Tank investor, having made investments in over 30 businesses and counting. He has been involved with many of the most popular and successful products to come out of the show. While his estimated net worth clocks in at around $ 4 billion dollars, Mark Cuban still remains one of the most active Sharks on the tank, always willing to give entrepreneurs a chance to reach their goals.
Which Shark Tank deals fell through?
Unfortunately not all deals made on Shark Tank result in a successful outcome. Receiving a deal is one thing, but following through is another.
Toygaroo was one of the deals that fell through. The founder, Nikki Pope, pitched her subscription-based toy rental business to the Sharks and received a deal from RMark Cuban and Kevin O’Leary. Toygaroo eventually went out of business because the sourcing prices just were not feasible.
Another deal that didn’t quite work out was You Smell Soap. A unique idea, You Smell Soap was founded by Megan Cummins, David, and Heather Kinsey. They received a deal from Robert Herjavec. The issue here lay in the fact that Robert Herjavec changed his mind on a deal raising equity, which Megan refused. The business then was bought by another investor and closed for reasons unknown.
Is Wad Free successful?
In short, yes. Since appearing on Shark Tank in 2021, Wad Free has seen a huge surge in popularity and success. While we can’t comment on the exact sales figures, Wad Free has continued to grow and thrive as a business and is still working hard to provide quality products and services.
Useful Video: Naked Sleeping Shark? | Wad-Free on Shark Tank
Conclusion
Cyndi Bray was a passionate fan of the show “Shark Tank”, and seeing her business on it was a dream come true. It took hard work and dedication to make her product Wad Free, but ultimately she successfully pitched an innovative product to the Sharks.
Wad Free is a cheap and effective solution to tackle wrinkling issues in sheets. Cyndi was ultimately able to secure a deal with Kevin O’Leary and is now looking to expand her business to stores across the country.
Even prior to making an appearance on Shark Tank, Cyndi was already a successful businesswoman. Her appearance on the show gave her more exposure and new opportunities to expand her business and reach out to a larger audience.
Overall, Wad Free was a success story on “Shark Tank” and it looks as though it will be around for years to come. We hope this article has answered any questions you may have had about what happened after Shark Tank with Cyndi Bray and Wad Free.
Good luck in all your upcoming endeavors!
References:
- https://www.sharktankblog.com/wad-free-for-bed-sheets/
- https://www.sharktankblog.com/business/wad-free/
- https://www.looper.com/1131185/whatever-happened-to-wad-free-after-shark-tank/
- https://wadfree.com/
- https://www.instagram.com/wad_free/
- https://insidergrowth.com/wad-free-net-worth/
- https://financebuzz.com/failed-shark-tank-deals