Not so many apps can serve the real needs of people in the real world. The Hidrent app is one of those rare apps that has been designed to help the crucial needs of people.
The company got its publicity along with its participation in Shark tank. It has passed a considerable time since the shark tank, and they have come a long way since then as well.
What is Hidrent?
Hidrent is an app-based service provider that mainly provides household services. Although firefighting is what they do best, they do the simplest tasks such as moving the furniture in the house.
Other than that, public hydrant, furniture moving, holiday lights, household fixes, and various simple services are available in their service list.
Who is the owner of Hidrent?
John Sherwin is the founder and the CEO of the Hidrent app-based company. He formed company in 2016 and has been working as the CEO for 05 years and 06 months since then.
What happened at the Shark Tank
John Sherwin stepped into the Shark searching for a partner for his company. What he wanted from the sharks was $300,000 for 8% equity in his company.
He first explained the nature of his company and stated that his services include household duties such as moving furniture and hanging pictures. Since the firefighters are whom he recruits for his company, the reliability will also be higher.
Lori seemed interested and asked about the sales, which were $850,000 from the beginning. Nirav Tolia was supposed to make a deal as he was the one with software stuff. Nirav refused the dak, saying it was a hard choice. His refusal reason was the Hidrent being a typical app.
Mark Cuban also did not choose as he thought the app did not have the authority for the entrepreneurs. However, Cuban suggested a deal of $300,000 for 20%. When coming to Kevin O’Leary, he had the desire, but he did not go for a selection.
Lori came up with a solution and what she wanted was 35% equity for the $300,000 along with Roberts’ contribution. Also, she wanted to change the name of the company. That was a deal, and John Sherwin closed it as Lori and Roberts agreed for 33.3% with John’s hesitation.
Hidrent SHARK TANK UPDATE
Time has passed, and lots of changes have happened to the companies that appeared in Shark tank, although they made or did not make a deal.
Lots of things happened to the company as 33.3% of the company was handed over to Lori and Roberts. People assumed that the name of the company would change shortly as well.
What happened to the Hidrent After the Shark Tank
The first thing to happen soon after the Shark was publicity gain. The company went viral as there was a duo deal by Lori and Roberts. The company appeared in lots of publications such as CBS, Fox, Yahoo! Finance, and CNBC.
Along with, the ad services a swell as viral creators, the company’s the official firefighter in the areas. It was visible that the company had launched several marketing campaigns to promote the app. That must be due to the influence of Lori who has the experience.
Soon after the Shark Tank episode, lots of empty spaces were found among employees. It was a thing that people could observe in the official Hidrent app as well as their website. Installing new light fixtures, moving furniture to any place the customers want, hanging holiday lights, and TV wall mounting was more services they added to their service list.
Although people assumed that there would be a new name for the company as Lori wanted, it has not happened yet. However, the charge of $72 per hour and payment of $60 for the firefighter remains the same.
The Hidrent net worth in 2022
The Hidrent net worth is approximately 1.5M USD, and they are targeting to increase it up to 2M USD this year. Along with Social media camping, they expect to do that.
Competitors off Hidrent
BulbGuy lighting, Atlas Van Lines, U. Santini, Liberty Movers, and Brouwer Relocation, Inc. are the top competitors of Hidrent.
Hidrent is an app-based service provider that delivers services for home-based services needs of the USA. They do firefighting tasks as well.
John Sherwin is the owner of Hidrent.
Yes, they got a deal of 300,000 USD for 33.3% of the Hidrent Equity on Shark Tank by Lori and Roberts
They are doing great, and their assets are increasing. The Hidrent annual net worth will be 500,000 USD this year.
The Hidrent worth is about 1.5M USD.