Imagine you’ve just bought yourself a brand new four-wheel drive, you bought the top-of-the-range. you get the kids together in the car, pack it up and you go down to the beach.
But what if the track is full of thorn bushes. You just got the first paint job on your car, right? No worries Rhinohide is here to help you.
Read what happened to Rhinohide’s worth and net worth update in brief here.
What Is Rhinohide Body Armour
Rhinohide makes body vehicle body armors, especially for off-road vehicles to protect the paint of your off-road 4×4.
Rhinohide body armors are completely removable and reusable. It’s very very simple to put on. It doesn’t need any specialist equipment. anyone can fit the protective parts to the vehicle body. So no specialist is needed, the customer can install or remove these light-weighted protection parts at any time they want to.
It is a rigid product, so it uses high-impact ABS plastic on the inside. It’s held in place with a high-strength neodymium magnet.
Who Is Marc Berryman
Marc Berryman is the founder and CEO of Rhino Hide. As some sources stated his net worth is 4 million dollars to date.
He graduated from Curtin University with expertise in project management and business development.
What Happened To Rhinohide At The Shark Tank
Andrew came to Shark Tank in 2006 and impressed all the male Sharks at the show. It’s so obvious because the product is a bit focused on a ‘male-thing’.
Marc was asking 80K dollars for 10% at Shark Tank.
But Andrew Banks pointed out this product may also target women’s audiences by manufacturing girl-themed Rhino Hides.
The board was super interested in the project after Marc explained how he planned to expand the business to the US.
‘In the US the highest-selling forward drive is 55,000 per month. So the ultimate market isn’t Australia. The ultimate market is getting this into the US’ Marc said at Shark Tank.
First, Andrew offered 80 000 dollars for a 20% stake and a 40 000 dollars loan for one year. He was very excited about expanding the business to the US market.
Then Glen made his offer of $ 80K for a 10% stake. Finally, Steve made the same offer.
Here the investors explained why Marc chose them.
‘what I do have is 21 years straight and business. I fully understand how to engage the consumer and get them involved in your business. This is a consumer engagement product. what you need is someone who’s going to be on your journey and absolutely got your back and support you, and ask you the hard questions so you don’t make any mistakes’
said Glen explaining why he is the best to choose.
At last, Mac chose Andrew and Glen as the partners of the car body protection business named Rhino Hide.
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Rhinohide shark tank update
In January 2016, Rhinohide armor generated $750,000 in revenue from when they first started selling their products in the Australian market.
With Glen Richards, Andrew Banks from Shark Tank, Perth Angels, Brisbane Angels, and Melbourne Angels are the main backers of the Rhinohide.
Marc said, “Rhinohide is picking up major momentum as we scale at pace and break into new markets such as the USA and Asia and the Middle East. Not bad for a startup from Perth that cut its teeth impressing not one but two Sharks,”
Now, Rhinohide has products for off-road cars from Toyota, Ford, and the JL Wrangler Unlimited 4 Door 2019. The body armors are designed for cars that range from 2009 to 2019 as of now.
You can also suggest your favorite 4×4 car model to them through their website.
Rhinohide net worth in 2021
The company has raised $500,000 from the people on Equitise in 2019 achieving a 100% funding target. The business is now valued at more than AUD 3.4 million.
After shark tank, September 2019 campaign raised an additional $160,000, valuing the business at around $4.4 million. By 2022 this company could be worth around 8 million USD.