Byron Young is the entrepreneur behind CordaRoys. It’s a bean bag chair that can turn into a bed. When he realized that his sales were reliant on impulse buys, he knew he had to implement a better business model — so he turned to the savvy investors of Shark Tank in 2013.
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He asked for $200,000 for 20 percent equity. Lori Greiner knows a hero when she sees one. She offered Young $200k for 60 percent. They settled for 58 percent.
Three years later and CordaRoys is crushing the beanbag market. They’re sold on the CordaRoys website, on QVC, Amazon, and Walmart, among others. CordaRoys come in a variety of sizes, designs and fabrics including corduroy, plush microsuede, faux cowhide, and chenille.
