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Cyndi Bray's accolade-winning product Wad-Free was featured on Shark Tank in season 13, which concluded in May 2022. Wad-Free was a product to be used to stop bedsheets from wadding up in the dryer, saving time and effort. Cyndi went home with a deal from Kevin O'Leary. This, matched with her expertise, has taken her business to new heights.
Glimpses into some of the past business deals of Shark Tank are shown in its ongoing seasons, but Wad-Free's current update hasn't been covered yet, which has made fans curious about this innovative company's success.
Wad-Free fell prey to what's called the Shark Tank effect, which made their sales skyrocket in the week after their feature on the show. Per business.uic.edu, their sales in that week reached up to $1000.
What happened to Wad-Free after bagging a deal in Shark Tank?
Wad-Free was a smart solution for preventing sheets from wadding up in the dryer, it was portable and was priced reasonably.
In October 2022, after its Shark Tank appearance, Wad-Free made it to the top 10 finalists in The Coolest Things Made in Colorado Contest. It was also featured on The Today Show, which specially mentioned the product on National Laundry Day, and lauded its usefulness. In 2022, HGTV also marked the product in their article, 35 Best Problem-Solving Products Under $25.
Following their first week on the show, they sold $1000 worth of products, after which, they went on to make $750,000 in their sales, as of October 2023. The product currently sells for $19.99 for two pieces, on the company's website and on Amazon. They have also introduced a new product for duvet covers and blankets, which costs $29.99 for two pieces.
Cyndi Bray's Wad-Free feature on Shark Tank
After suffering from the problem of sheets tangling up in the dryer, Cyndi, an MBA grad, took it upon herself to invent a product that would prevent this from happening. So she learned physics and CAD drawing, eventually making a prototype.
After coming up with the product, she got it trademarked and got the various prototypes tested. She did this all in just 14 months, which was impressive to the judges.
She came on the show asking for $200,000 for a 5% stake in her company. She said that she had already made $513,000 since she started the company in June that year. She also shared that the cost price of each product was $3.50 and the shipping charges were $3.50 too, which bore her a profit of 38%.
She also mentioned that her sales came from selling on her website, Walmart, The Grommet, and Amazon.
After Mark, Daymond, and Robert checked out because of a lack of expertise, Kevin offered her his usual royalty deal - he offered $200,000 for a 10% stake, with a $1.50 royalty, that would go on till he makes $1 million.
Lori jumped in too, with a deal of $200,000 for 25% equity. After a lot of back and forth, she went down to 20%, where the fear of losing out caught up with Kevin and he offered her the same deal at the stake of 5%. Cyndi went with Mr. Wonderful because of the lesser equity ask.
Full seasons of Shark Tank are available to stream on Hulu.
