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Wad-Free Shark Tank Update

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Have you washed your bedsheets and then transferred them to a drier but once dried the cloth becomes a lump inside which the rest of the clothes mix?

Well, the solution to this daily worry is here, introducing Wad-free, the first ever plastic block that can be attached to the four sides of your bed sheet and it dries without a worry.

Wad free at a glance:

Business ideaAn innovation to stop your bedsheets from getting into a lump.
FounderCyndi Bray
Asked for$200,000 for 5%
Accepted deal$200,000 for 10% +$1.50 royalty until $1million is paid
SharksKevin O’Leary
Business statusIn business
EpisodeSeason 13 Episode 5
Buy on AmazonBuy now!
Wad free at a glance.

Index:

Founder Story:

Having a background in management and the knowledge of business Cyndi Bray planned to solve an everyday problem by developing a product that could make bedsheets free of wads and their clumsy nature.

Making it easy for you to clean and dry the bedsheets you tucked away in. Managing a business and the mother of two lost her husband to a brain tumor and learned to juggle between work and home making her of versatile nature.  

Did Wad free get a deal on SharkTank?

The business-minded entrepreneur enters SharkTank seeking an investment of $200,000 for 5%. The demo of the product is well received by the sharks and then it’s time for questions. Kevin is the first to ask whether his Egyptian cotton quilt or bedsheet will have any damage due to the attachment of the product the answer is no. Her total sales for the business since June 2020 have been $513,000. The shipping and making cost of the product is $3.50 each. She has a net profit of 38%. She sells at Walmart, The Gourmet, Amazon, and on her own website.

Mark cannot find a connection with the business and he’s out. Robert says that it’s good that we inspired you to create the business because that is the prime reason behind the show, He’s out.  Kevin goes ahead with his classic deal. He offers $200,000 for 10% + $1.50 royalty per unit sold until $1 million is paid. Lori is the next to put an offer on the table. She offers $200,000 for 25%. Cyndi counters to 10% for Lori’s offer. She doesn’t want to get the valuation down. Lori finally drops the equity to 20% Cyndi makes a deal with Kevin as he gets 5% equity with the royalty offer.    

See also  LoveRaw Dragons’ Den Update

What happened to Wad free after SharkTank?

The deal with Kevin closed is unknown to this day. But the great thing about the company was that after airing on shark tank the company saw a massive increase in sales.

Product details:

  • The product Is made in the USA.
  • Prevents bedsheets from twisting tangling and shaping the bedsheet like a ball.
  • Used in both the washer/washing machine and dryer
  • The washing machine becomes stable when washing and the cloth comes out cleaner
  • The product helps to have fewer wrinkles
  • The product helps the bedsheet dry 75% faster
  • Reduces wear and tear on appliances
  • Reusable
  • It is non-toxic, No latex, PVC, BPA, or phthalates
  • Works on any size of a flat and fitted sheet.
  • Reduces wet items from getting trapped in the lumps of sheets.
  • Safe for clothes and appliances.   

Competitors of Wad-free :

The competitors of this product are:

  • Whirlpool’s dryer sheet feature
  • Dryer balls
  • Dryer bags

What is the net worth of Wad-Free:

The net worth of the company was $4 million when it aired on shark tank but surely the valuation of the company would have increased as the sales are still strong and the business is still functioning.

Is Wad free still in business?

The business of Wad free is helping many households around the country and the lives of many families have become that much easier. The sales are overwhelming and have made the company go for a spin but they are still standing strong despite no help from a shark.

There is not much scope for products being introduced in this space, but hopes are that the product will remain a hit among its users. Keeping the daily and the most negligible problems to solve as business solutions is by far the best way to go.

Wad-Free Social links:

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FAQs:

What is Wad-Free?

Wad-Free is an innovation to stop your bedsheets from getting into a lump.

Who founded Wad-Free?

Having a background in management and the knowledge of business Cyndi Bray planned to solve an everyday problem by developing a product that could make bedsheets free of wads and their clumsy nature.

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