- Hidrent is a platform offering trusted home services, employing off-duty firefighters for various projects.
- Services provided by skilled professionals include Light Fixtures, General handymen, Furniture Moving, Holiday Lights, Smoke Detectors, Hanging, Hauling, Furniture Assembly, TV Wall Mount, and Gutter Cleaning.
- Customers pay approximately $100 to $300 for each job.
- Hidrent deducts 20% of the payment and gives 80% to the firefighter.
Who Is the Founder of Hidrent?
- The founder of Hidrent is David Heimbuch, a professional salesperson who has worked for several companies including Tapad, AT&T Mobility, and Shazam Entertainment.
- He studied Business Administration at the University of Nebraska-Lincoln and is an Accelerator Program member of Capital Factory.
What Happened After Shark Tank?
- In Shark Tank, David Heimbuch asked for a $3.7 million valuation but signed a deal worth $937k with Lori and Robert for 33.3% equity.
- Hidrent is now providing services nationwide, with potential expansion to cater to senior citizens and single mothers.
- The company had a lifetime sale of $850,000 with revenues of $125,000 in 2019, $260,000 in 2020, and $325k in 2021, taking 23% of these sales.
- Hidrent raised $662.5k from 9 investors in a seed round before Shark Tank.
- The company also ran an equity-based fundraiser on StartEngine, raising $143,080.02 at an $8.5 million valuation.
- A partnership with the International Association of Fire Fighters until 2024 will allow Hidrent to connect with 300,000+ firefighters.
- As of December 2022, Hidrent’s annual revenue is approximately $1.4+ million.
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FAQs About Hidrent:
- Q1: Is Hidrent still in business?
- Ans: Yes, Hidrent is still in business.
- Q2: What happened to Hidrent on Shark Tank?
- Ans: The company secured a deal with Sharks, with Robert & Lori investing $300k for 33.3% equity.
- Q3: Did Hidrent get a deal on Shark Tank?
- Ans: Yes, Hidrent got a deal on Shark Tank. Robert & Lori invested $300k for 33.3% equity.
Physical Statistics of Hidrent:
- Valuation in Shark Tank: Asked for $3.7 million, got a deal worth $937k.
- Lifetime Sales: $850,000
- Revenues: 2019 – $125,000, 2020 – $260,000, 2021 – $325,000
- Hidrent’s Share of Sales: 23%
- Revenue from StartEngine Fundraiser: $143,080.02
- Annual Revenue (as of December 2022): Approximately $1.4+ million
Family and Relationships:
- Founder: David Heimbuch
- Co-investors: Lori, Robert
- Partnership: International Association of Fire Fighters till 2024
Education:
- Bachelor of Science in Business Administration from the University of Nebraska-Lincoln
- Accelerator Program member of Capital Factory since April 2019
Net Worth:
- Valuation in Shark Tank: $3.7 million
- Actual Deal Amount: $937,000
- Amount Raised in Seed Round: $662,500
- Revenue from StartEngine Fundraiser: $143,080.02
- Annual Revenue (as of December 2022): Approximately $1.4+ million
Education:
- Bachelor of Science in Business Administration from the University of Nebraska-Lincoln
- Accelerator Program member of Capital Factory since April 2019
Net Worth:
- Valuation in Shark Tank: $3.7 million
- Actual Deal Amount: $937,000
- Amount Raised in Seed Round: $662,500
- Revenue from StartEngine Fundraiser: $143,080.02
- Annual Revenue (as of December 2022): Approximately $1.4+ million
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