Ryan Frayne showcased his inflatable mattress, Windcatcher, on Shark Tank in 2015. His product is unique because it doesn’t require a pump or electricity – simply blow into the built-in valve and presto! It inflates within seconds. Lori Greiner was so impressed with Frayne’s demonstration that she offered to partner with him on the spot.
The Fast Inflate Pillow by travel bag firm is employing the technology [1].
On the hit show Shark Tank, entrepreneurs have the opportunity to pitch their business ideas to a panel of celebrity investors. If the sharks like what they see, they may invest in the company and help it grow.
Recently, one company that appeared on Shark Tank was Windcatcher. They created an innovative new product that allows users to sleep in any position while still getting airflow through the night. Unfortunately, the sharks didn’t bite and Windcatcher didn’t get a deal. So what happened next?
What Is Windcatcher?
Ryan Frayne appears on Shark Tank with his product, the Windcatcher Air Pad. The inflatable mattress takes only seconds to blow up using “quick stream inflation”, which is much faster than other battery-powered or manual pumps.
Blowing into the Windcatcher “valve” resembles blowing into a big bag. When you breathe into the Windcatcher valve, you pull in high-pressure air around the aperture, making each breath 15 times more powerful – thus inflating the airpad rapidly. Deflating is also quick. An entirely inflated airpad measures 74 x 20 x 4 inches and will set you back $100 [2].
For easy transportation, the entire kit includes a carrying bag. Some attachments may turn an airpad into a chair, and the technology will be utilized in rescue buoys, inflatable tents, inflatable rescue backboards, and more.
Windcatcher Before Shark Tank
Some people are so creative that we can’t help but be impressed by them.
Ryan was playing at the beach with his family when he got an idea. His brother was trying to inflate a bed and Ryan thought there must be an easier way to do it. So he went home and experimented with different valves until he found one that worked better – entrainment. Now, inflating objects is much more effective thanks to Ryan’s invention [3].
Air entrainment is based on differences in air pressure, as Ryan discovered while researching it. Although this was an established technology, no other firms were manufacturing inflatables that utilized it for commercial applications, at least not yet. He created a prototype of an inflatable he called the Air Bag, which could be inflated with little effort and incorporated a valve that permitted air entrainment but also allowed the airbag to be deflated in seconds.
Ryan opted for a tried-and-true method for inventors attempting to turn their ideas into real products, and he utilized Kickstarter to start a campaign in May 2013.
He aimed to raise $50,000 for the month-long effort, with the bulk of that money going toward set-up expenses for production.
After finance expert Ryan Patent’s month-long campaign had finished, he nearly tripled his initial goal of $150,000. Even though this was a huge success for the young entrepreneur, he knows that to fulfill his plans and make millions off of his invention, he needs business help from those who are already well-connected. So with that mission in mind, Ryan applied and appeared on Shark Tank in October 2015.
Windcatcher On Shark Tank: The Pitch
Ryan enters, seeking $200k for 8% of Windcatcher. He starts by showing the Sharks how to inflate a regular inflatable; it’s painfully clear how difficult it is. Next, he demonstrates the Windcatcher–impressing the Shark with its easy inflation The Sharks are amazed and Robert thinks it’s very impressive. Ryan goes on to explain the technology behind the Windcatcher valve, leaving dumbfounded sharks in his wake.
Ryan got the idea for his invention while blowing up equipment at the beach one day. Even though he’s not a scientist, Ryan did lots of research and eventually designed a functional valve. By 2013, he had sold $165K worth of valves – and counting! The Shark Tank investors question whether Ryan is more interested in building a brand or licensing the technology; Ryan says he’d be open to doing either option. When asked about production costs, Ryan won’t give an exact answer – but he does reveal that his margins are 60%.
While Mr. Wonderful expresses interest in Ryan, calling him a “mad scientist guy”, Ryan declined, saying it would be too boring to go with straight licensing. Kevin then offered $200K as venture debt; he’ll take 6% of everything sold until $800K is retained, and 3% ownership of the company after that.
Mark found this amusing and said there’s no way Ryan could afford such an offer. To which Chris Sacca suggested maybe it was time for someone else to make an offer.
After a pause, Lori offers $200K for 15% after first asking for 20%. Kevin says “OUCH”, but Lori points out that Ryan will require assistance in developing additional items. Sacca agrees to work with Lori so he may tell the story of the other goods.
According to Lori, if there are two Sharks, equity must be transferred to 20%. Robert then puts up $200K for 10%; this is exactly what Ryan requested.
Sacca and Lori agree to invest $200K for 15% equity, but Ryan counters with a request for a $10 million line of credit. Robert is offended and wants to know what’s wrong with his offer. Mark jumps in and offers $200K for 8% equity, plus the line of credit.
Robert drops to $200K for 6.5%. Lori goes to $200K for 5%, without Sacca; she’ll also offer a line of credit [4].
Windcatcher Now In 2022
The Shark Tank Blog provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The deal with Lori never closed due to another company offering a similar product, which resulted in litigation. Sadly, Ryan was diagnosed with pancreatic cancer shortly after appearing on the show and passed away on June 5, 2018.
His wife and closest companion attempted to relight sales in 2019 by raising $6,572 through an IndieGoGo effort. Since June, 2019, no updates have been made on social media. The firm’s website is still active as of 2021 but does not list items for sale. The company’s website went dark in February 2022, implying that the business is defunct [5].
The product is not available for purchase on Amazon presently, owing to a legal dispute between the company and Cascade Designs, as well as Ryan being diagnosed with terminal cancer. The manufacturers wished to introduce new product lines and allow the technology created by Ryan to be utilized by people all over the world, but this is no longer possible.
The Net Worth Of Windcatcher
It was valued at around $4 million when the Shark Tank visited. As of 2022, this firm’s net worth is expected to be $6 million [6]. The fact that the firm began with a $2,000 investment and has now grown to a $6 million valuation is remarkable.
FAQ
Is Ryan Frayne alive?
Just a few months after appearing on the show, Ryan was sadly diagnosed with pancreatic cancer. He battled bravely for some time but ultimately passed away on June 5, 2018.
How does the Windcatcher valve work?
The Windcatcher valve allows you to inflate an entire sleeping mattress with a few breaths, requiring no power or pumping. The fast-moving air stream from your mouth draws in the surrounding air with each breath you blow into the valve, significantly increasing the volume of each inhalation [7].
How many Shark Tank businesses have failed?
Since the show first aired in 2009, it is estimated that around 30% of businesses that have appeared on Shark Tank have failed. This number is not exact, as some businesses choose not to disclose their financial information.
With such a high failure rate, you may be wondering why anyone would agree to appear on the show. For many businesses, the publicity and exposure from appearing on Shark Tank are worth more than any investment they may receive from the sharks. In addition, many entrepreneurs see appearing on Shark Tank as a once-in-a-lifetime opportunity.
Has Mark Cuban made money from Shark Tank?
If you’ve ever wanted to know how well the Sharks do on their Shark Tank investments, US business mogul Mark Cuban may have just scratched your itch. It turns out that after investing almost $28 million in 85 start-ups on the popular television program, Cuban has earned nothing [8].
Who’s the richest Shark Tank investor?
Of the “sharks”, it seems that Mark Cuban is the only one who isn’t rolling in dough. He’s lost money on his Shark Tank investments. But don’t feel too bad for him – with a net worth of $5 billion, he can afford to take a few hits.
But what about the other Sharks? Well, it turns out that they’re all doing quite well for themselves.
Barbara Corcoran has a net worth of $80 million, while Robert Herjavec is worth an estimated $200 million. And Kevin O’Leary – perhaps the most well-known Shark – has a staggering net worth of $400 million [9].
Why did Barbara Corcoran leave Shark Tank?
Barbara’s possible departure from Shark Tank might have come from an Instagram post she made in February 2020. In it, she talked about how she felt like a fraud in the business world. She said, “Even when I sold my business for $66 million, I felt like an absolute fraud! Today, I tackle that pesky mindset with one caller who’s looking to get her confidence back”. Barbara is currently appearing on the twelfth season of Shark Tank, which airs on ABC [10].
Does Shark Tank take a percentage?
It seems like Mark Cuban’s investment strategy on Shark Tank is more about helping out budding entrepreneurs than it is about making money for himself. And while he may not have made any money from the show, the other Sharks are doing quite well for themselves. With a net worth of $400 million, Kevin O’Leary is certainly doing better than most!
How much do Shark Tank hosts get paid?
The exact amount that the Sharks get paid for appearing on Shark Tank is unknown. However, it has been reported that they each make at least $50,000 per episode. Considering that there are typically 24 episodes in a season, that means that the Sharks are raking in at least $600,000 each season! Not too shabby [11].
So there you have it – everything you need to know about Windcatcher and what happened after Shark Tank. From Mark Cuban’s failed investments to Barbara Corcoran’s possible departure from the show, there’s always something new happening with these Sharks. And we can’t wait to see what happens next!
Does Shark Tank air every pitch?
No, not every pitch is aired on Shark Tank.
So if you’re ever thinking about making a pitch on Shark Tank, don’t get your hopes up too high – there’s a good chance that your segment will never see the light of day!
Is Lori still invested in Scrub Daddy?
Yes, Lori Greiner is still invested in Scrub Daddy. She’s been a big fan of the product since she first saw it on Shark Tank and she continues to invest in the company today. In fact, she even has her own line of Scrub Daddy products that are available for purchase on the Home Shopping Network!
Useful Video: Windcatcher Deal with Lori – Shark Tank
References
- https://2paragraphs.com/2016/03/windcatcher-air-mattress-on-shark-tank-making-fast-inflate-pillows/
- https://www.sharktankblog.com/business/windcatcher
- https://gazettereview.com/windcatcher-update-happened-shark-tank/
- https://www.sharktankblog.com/business/windcatcher
- https://www.sharktankblog.com/business/windcatcher
- https://bizzbucket.co/windcatcher-shark-tank-update
- https://bigthink.com/articles/finally-a-radically-different-inflation-technology-that-doesnt-suck-the-fun-out-of-inflatable-gear
- https://www.9news.com.au/world/billionaire-mark-cuban-made-no-profits-from-all-shark-tank-investments
- https://www.sportskeeda.com/pop-culture/who-richest-shark-shark-tank-2022-season-14-rumored-net-worth-explored
- https://punditweb.com/why-did-barbara-leave-shark-tank/
- https://www.distractify.com/p/how-much-do-the-sharks-make-to-appear-on-shark-tank