April 14, 2024


Unlimited Technology

Two Denver-based startups score deals on ABC’s “Shark Tank”

Two Denver-based, female-founded startups recently made pitches before a panel of high-powered potential investors on ABC’s hit show “Shark Tank” — and both scored big bites.

Driving the news: Wedfuly is a wedding planning company that helps host virtual and hybrid ceremonies, which have exploded in popularity amid the pandemic.

Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for free

  • The startup was founded in 2017 by former software engineer Caroline Creidenberg and has worked with nearly 1,000 couples to bring weddings to 200,000 guests worldwide, the Denver Business Journal reports.

  • Creidenberg made a $200,000 deal with ”Shark Tank” investor Robert Herjavec for a 10% stake in her company.

  • She plans to use the funds to invest in sales and marketing efforts, per BusinessDen.

Wad-Free is a game-changing gadget that keeps bedding and sheets from tangling and twisting in the washing or drying machine.

  • The laundry tool, which retails for $19, was created by Cyndi Bray in June 2020 and has generated more than $1 million in sales.

  • Bray took a $200,000 deal with Kevin O’Leary (aka “Mr. Wonderful”) for a 5% stake in her business, plus a royalty of $1.50 per unit sold until $1 million is paid off.

  • Early next year, she plans to roll out a new product designed for blankets and duvet covers.

Like this article? Get more from Axios and subscribe to Axios Markets for free.

Source News