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Cyndi Bray has developed a simple solution for washing bed sheets. This chore often means sheets end up wadded up and the washer is thrown off balance. They also may trap additional laundry items in the folds of the sheets, preventing them from being effectively cleaned. Her patented device connects to the four corners of the bedsheet, ensuring that sheets come out of the wash clean and without any other wet laundry hidden inside. Cyndi created Wad-Free For Bed Sheets to save consumers time, energy and frustration when doing the laundry. Seeking $200,000 in exchange for 5% equity in her company, Cyndi is hoping to partner with a Shark that can help her to expand her reach and sell more product.

Inspired by her story and the simplicity of the product, the Sharks are interested in learning more about the company to make an investment determination. Since launching the business in June 2020, Wad-Free For Bed Sheets has sold $513,000 worth of product through their own website as well as online marketers such as Amazon and Walmart. The Sharks are impressed with Wad-Free’s sales, profit margins, and Cyndi’s work ethic. Several Sharks decide to extend Cyndi an offer.

Kevin O’Leary offers to invest $200,000 for 10% equity in the company. He would also like a royalty of $1.50 per unit until he gets paid $1,000,0000 at which time the royalty will go away but he will remain an equity partner at 10%. Lori Greiner also offers to invest $200,000 but as a 25% equity partner. Lori’s strategy is to make her a millionaire by partnering her with another business that she is involved with, increasing their digital advertising, and also expanding into infomercials. Through negotiations to keep her equity turnover low, Cyndi agrees to accept $200,000 from Kevin O’Leary for only a 5% equity stake. She will also pay him royalties until he makes back $1,000,000.

If you were Cyndi, which offer would you have accepted? Would you have invested in Wad-Free for Bedsheets if you were a Shark? Start the conversation in the comments below!

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