Not so many apps can serve the real needs of people in the real world. The Hidrent app is one of those apps designed to help people’s crucial needs.
Hidrent had a massive growth after being presented on the show and received great reviews from its customers. It has passed a considerable time since the shark tank, and they have also come a long way.
Let’s see how the company is doing now. As of 2022, Hidrent is valued at $8.5 million.
What is Hidrent?
Hidrent is an app-based service provider that mainly provides household services. Firefighting is what they do best. They do the simplest tasks, such as moving furniture, household fixes, and various simple services available on 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 the 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 tank, searching for an investor for his company. He wanted from the sharks $300,000 for 8% equity in his company.
John Sherwin first explained the nature of his company. He stated that his services include firefighter hiring and household duties such as moving furniture and hanging pictures.
Lori seemed interested and asked about the sales, which were $850,000 from the beginning. Nirav refused the deal, 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%.
Lori wanted 35% equity for the $300,000 and 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 many changes have 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
After Shark Tank, Hidrent’s popularity skyrocketed. The company appeared in many publications, such as CBS, Fox, Yahoo! Finance, and CNBC.
The company had launched several marketing campaigns to promote the app. That must be due to the influence of Lori, who has the experience.
They added new list to the app such as light fixtures, moving furniture to any place the customers wanted, and hanging holiday lights and TV wall mounting.
Although people assumed 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 the 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.