FireAvert is a fire prevention device that plugs into a kitchen stove. Peter Thorpe invented this in 2014. As of November 2023, FireAvert’s net worth is $4 million. They’re pulling in a whopping $4 million in annual revenue.
In January 2016, they appeared on Season 07 of Shark Tank USA and made a deal with Lori Greiner for a $300,000 loan at 5% interest + 10% royalty until $400,000 is repaid + 10% equity. The final valuation was $1.2 million, down from the founder’s initial estimate of $4.2 million.
The deal FireAvert made with Lori did not finalize. However, FireAvert had a significant growth in business after the show. The company expanded over the years, and as of November 2023, it is still active in the market. You can purchase their products via the company website and Amazon.
FireAvert Net Worth
|Net worth||$4 million (2023)|
|Annual Sales Revenue||$4 million (2023)|
|Lifetime sales||$2 million (2015)|
FireAvert Net Worth Timeline
|Net Worth 2023||$4 million|
|Net Worth 2022||$4 million|
|Net Worth 2021||3.6 million|
|Net Worth 2020||3.6 million|
|Net worth valuation in 2016 after appearing on Shark Tank||$1.2 million|
|Net worth valuation in 2016 before appearing on Shark Tank||$4.2 million|
FireAvert Pitch on Shark Tank
|Product||Fire prevention device that plugs into a kitchen stove|
|Episode||Season 07 Episode 12|
|Asked for||$300,000 for 7% equity|
|Final deal||$300,000 loan at 5% interest + 10% royalty until $400,000 is repaid + 10% equity|
Don’t miss these products from Season 7
Peter Thorpe founded FireAvert in 2014. Peter graduated from Utah Valley University, specializing in Emergency Management. He is a firefighter by profession. His experience working as a firefighter as well as entreprenurial skills driven him to create FireAvert. FireAvert’s founder, Peter Thorpe has a net worth of 3.6 Million USD as of 2023.
|2016||FireAvert was featured on Shark Tank and won a deal|
From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for FireAvert and its continued success.