The Windcatcher is a quick inflate system by Ryan Frank. He pitches his company in Shark Tank Season 7 Ryan has the Utility Patent.
He did a bunch of research after having to deal with the small valves that we find on typical inflatable devices.
Ryan has $165,000 in sales in the previous two years. He did his Kickstarter in May of 2013.
Will Windcatcher license technology?
Kevin wants to know if he wants to license the technology to others, or do you want to make products? Ryan won't tell the Sharks the cost to manufacture, but he will say to them that his margins are sixty percent.
Ryan is wanting to control his product, and keep control.
Entrepreneur: Ryan Frank
From: Portland, Oregon
Ask: $200,000 for 8% equity
Companies in this episode: Rent Like a Champion, Hotshot, Windcatcher Technology, Stem Center, S.W.A.G.
Season: Season 7 Episode 706
Sharks: Mark Cuban, Chris Sacca, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 01/30/2015
Deal: Lori Greiner $200,000 for 5%
What do the Shark Tank Investors say about WindCatcher
Mark Cuban asks if he gives $200,000 for 8% plus backup your purchase orders.
Chris Sacca asks if Laurie has room in her deal. He would love to get in on the deal. Laurie wants a higher equity position to have two Sharks working with him. He tells Lori that he would not do 20%. She comes back to 15%
Kevin O'Leary makes Ryan an offer. He reduces the amount of equity Kevin wants. Kevin structures venture debt. He will give him $200,000 for a royalty of 6% until $800,000 is paid back plus 3% equity. Ryan thinks that it is unfair to make him return it right away. Kevin tells him to counter him with another offer. Kevin drops to 2% equity.
Lori Greiner offers him $200,000 for 15% equity. She is going to help him get it into retail. She loves how he writes on his hand. Lori drops to $200,000 for 5%. He does the deal with Lori
Robert Herjavec offers $200,000 for 10% equity. Robert drops down to $200,000 for 6%.
WindCatcher after Shark Tank
The deal ended up falling apart, as there is another company that has similar technology and they ended up in litigation. Lori Greiner stepped away from the deal.
Unfortunately, that wasn't all. Ryan ended up with terminal cancer, discovered just a few weeks after the taping of his Shark Tank Pitch.