'Shark Tank': A look at Hidrent's $300K deal with Robert Herjavec and Lori Greiner
Although Nirav Tolia has more experience in the field, he tapped out, seeing that his journey of building an app of this kind is done
With odd jobs and maintenance work always happening in and around the house, it is important to know who you hire to take on these jobs After all, you are giving them access to your home and safety is crucial. That's where Hidrent steps in -- an app that allows you to hire an off-duty firefighter to help you with your work!
'Shark Tank': Kevin O'Leary inks $300K deal with Tabby, a dating app for cat lovers
'Shark Tank': Why did Nirav Tolia take a lower equity than Kevin on 54 Thrones' deal?
Hidrent's founder, Dave Heimbuch was looking for a $300,000 investment for 8% equity. Having done $325,000 in sales year to date and $260,000 last year, Heimbuch was currently the one handling all his marketing and hoping to expand his team. He explained that Facebook and Tolia's Nextdoor was widely helpful in spreading the word. However, Tolia explained that with zero spending on advertising, it took them nearly 10 years to build the app to where it was. For him, he had done his time working on a project like this and tapped out. Cuban, too, was quick to withdraw. Herjavec was the first to make an offer, seeing that he saw the app's potential among the elderly and women. He made a deal for $300,000 for 20%. Hoping to get another offer, Heimbuch turned to O'Leary, who also decided to exit. It came to Greiner, who explained that she has a soft spot for firefighters and decided to go in on an offer with Herjavec. They offered the money for 35% equity. O'Leary, who Greiner burned during the Fish Fixe deal, was quick to call her out for being greedy this time. However, Heimbuch finally settled on an offer with both sharks for 33.3%.
Fans were thrilled to see Hidrent get a combined offer. "#SharkTank Take the deal, it's two great Sharks! #Hidrent #Lori #Robert" tweeted a fan. "Hidrent, congrats, congrats Lori and Robert #SharkTank" added another. "Woohoo!Congrats @LoriGreiner and @robertherjavec great way to end the night! #SharkTank" congratulated a fan. "Congratulations to @HidrentApp and @LoriGreiner and @robertherjavec! This will be a great team! #SharkTank" agreed a user.
Hidrent, congrats, congrats Lori and Robert #SharkTank— Lance Becvar (@Dadsonpowermode) November 13, 2021
'Shark Tank' Season 13 airs on ABC on Fridays, at 8 pm ET. Missed an episode? Been wanting to catch up? Episodes can also be viewed the next day on demand and on Hulu. Not just that, you can also watch old seasons and episodes on Amazon Prime Video and iTunes.