Man is always comparing, always seeking something better. That is why his eye still falls on things that are not tried before. What we call innovation in business is bringing forth those things to the customers who are not yet discovered, or presenting what already exists in a whole new way. No company can survive without innovation. And every entrepreneur has a chance to make, to sustain his business and Windcatcher is one of them. Let’s find out all about the Windcatcher and its net worth in 2020.
This company came in to being in 2013, due to the humble efforts of the Portland citizen Ryan Frayne. His idea of creating innovation in airbags came just from an incidence of family holidays. The awe-inspiring thought of developing the magic valve, that controls and reduces the pain of inflating, first struck Rayne surprisingly, as he saw his brother getting tired, trying to raise a toy. On realizing the pain and strength involved in inflation, he decided to innovate something to lessen the efforts. He was not a scientist himself but googled and worked very hard to know the principle of ‘entrainer,’ which saturates steam or gas with the help of a liquid.
Since the time the technology behind the process hit the masses via an episode of Shark Tank, various favorite investors like the famous Chris Sacca, Robert Herjavec, Mark Cuban, Lori Greiner and Kevin O’Leary stood up excitedly to invest in it. Not every startup business shows up on Shark Tank, but only the special ones things Windcatcher did.
The technology was such a genius in itself that did not need any dramatic explanation to get on to the eyes of the Shark Tank. Neither did the inventor need to do any extra work nor did he need to provide an additional clarification to impress the former. His straightforward approach to the inflating process instantly cast a magic spell on the sharks and brought immense capitals and investments.
As the technology and its benefits were elaborated, Greiner, one of the associated investor of the company, finalized a deal for a 5% share of his company. This struck off Sacca from the partnership. She also agreed that she would be providing funds for all the purchases henceforth.
Net Worth & Earnings:
Windcatcher suffered a bit when his company went into an ensuing legal battle with the Cascade Designs which specializes in similar kind of outdoor equipment like his airbags. This probable legal complication made Greiner retreat from investing into it. Thus the growing organization was almost abandoned, regarding funds and mentor, for a while. With the financial crisis, Windcatcher had to turn to Kickstarter, but the conditions didn’t turn up as expected. The company started off with an investment of only 2000 dollars by the founder himself. But by 2013, $165, 000 of the product was sold by him. He finalized a deal of $200K for a 5% share, alongside a line of credit. In 2014, after Kickstarter acknowledged Windcatcher as their staff, Windcatcher took in $145,000 in revenue. The following year, it took in $213,000.. Right now, the company Windcatcher has an estimated net worth of $5 million.
Windcatcher Technology primarily focused on product development. Ryan always wanted his technology to be accessible worldwide. He wanted the entire world to get benefited from it.