Yair Reiner was seeking $100,000 for a 10% share in Frywall. He’d invented a simple product that was ready-made for QVC. Lori Greiner’s husband, Dan Grenier, helped her become “the Queen of QVC,” so her interest would inevitably be piqued. Dan described the look Lori gets when she’s into something. “It’s thoughtful, looking up in the sky, with a slight smile like she just figured something out,” he once said (via Closer Weekly). And, sure enough, Lori definitely had the look for Frywall.
Reiner explained that he invented the product in his kitchen one day. “Everything I knew about cooking told me this could be a really big product,” he said, admitting he’d been scared to focus solely on Frywall until he lost his job. Within six months, Reiner was selling his wares. “That’s motivation right there,” Mark Cuban opined.
Read Related Also: Dear Abby: I want to kick my ex out of my home but I can’t bring myself to do it
Reiner told the sharks that Frywall was utility patented and had a profit margin of $14.50 per unit. 70% of sales were online, and he’d already pulled in $800,000 within one year. That resulted in a unanimous “wow.” Let the war begin. Mr. Wonderful offered $100,000 for a 15% share. Robert Herjavec was out. Lori and Cuban went at it over marketing and distribution strategy. Daymond John matched Kevin O’Leary’s offer while Cuban shook his head. Then, Lori pulled out her “golden ticket.” She proposed $100,000 for 10% and offered to fund future purchase orders, providing an indefinite line of credit. Deal done — sort of.
