2016 Olympic marathoner jwardy21, and his team at MyoStorm partnered with LoriGreiner
In their presentation, the MyoStorm team explained the benefits of the therapy ball, the project’s origins on
—asking for $20,000 and bringing in $65,461 in 2018—and the total sales to date of $120,000. At the end of their presentation, they asked the sharks for $150,000 in exchange for 10 percent of the company.From the beginning, it was clear that most of the sharks—Mark Cuban, Kevin O’Leary, Daymond John, Greiner, and Matt Higgins—were interested in the product. Cuban tested it out right away on the yoga mat while O’Leary and Grenier asked follow-up questions.
Shortly after, Cuban became the first shark to make an offer: $250,000 for 20 percent, but he pulled out when the MyoStorm team wanted to hear the remaining sharks’ offers. O’Leary chimed in with a deal at $150,000 for 5 percent stake and a royalty of $1 for every ball until $500,000 is recouped in the investment.
Grenier made the final offer, which was the same deal that O’Leary proposed, and the MyoStorm team jumped at the opportunity to work with the QVC mogul. “We had pegged Lori as the logical fit for us because we feel like ‘The Meteor’ could do well on QVC, and her connection to health and fitness in general would be a good fit,” Ward said.
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