Next is Ryan Frayne of Windcatcher, a “quickstream inflation” device seeking $200,000 for eight percent.
His product inflates in seconds without the use of pumping or power. The Windcatcher can be used as a pad or seat.
The valve uses entrainment to suck in existing air, making it faster to inflate.
He thought of the product at the beach while trying to inflate a toy and researched a better way to inflate. His margins are 60 percent, but does not reveal any other information about the product.
— Atokatha Ashmond Brew (@Atokatha) October 31, 2015
Kevin O’Leary finds it beneficial to license and sell the technology, which Frayne finds boring because of the lack of involvement in the business.
O’Leary offers $200,000 as venture debt for a six percent royalty until $800,000 is paid back. Then, the equity will remain at three percent.
Lori Greiner offers $200,000 for 15 percent equity because she sees a lot of work in developing and sales. Chris Sacca wants to partner with her in order to develop various products. Greiner increases the equity to 20 percent for both of them.
— Ieesha M. Gee (@IeeshaTheGreat) October 31, 2015
Robert Herjavec offers $200,000 for 10 percent and Greiner quickly counters back that she and Sacca will do 15 percent.
Mark Cuban offers what he came in for, in addition to the purchase orders.
A shark fight then ensues. O’Leary changes his equity to two percent and Herjavec adds on a funding of purchase orders. Herjavec then decreases to 6.5 percent and O’Leary goes down to one percent.
Greiner decreases to five percent and cuts Sacca out of the deal, along with the funding of purchase orders, to which he accepts.
— Damon Nam (@nomadman) October 31, 2015
Final deal: Lori Greiner for $200,000 for five percent with funding of purchase orders.