FlexScreen Shark Tank Net Worth
FlexScreen appeared on Shark Tank and received an investment of $800,000 for a 6% stake in the company from Lori Greiner.
At the time of its appearance, FlexScreen was valued at around $6.6 million. As of 2022, FlexScreen’s net worth is estimated to be above $15 million, and its founder Joe Altieri has a net worth of $14 million.
What is Flexscreen and Who is the Founder?
FlexScreen is a company that produces replacement window screens and is known for creating the world’s first and only flexible window screen.
This screen is easy to install, remove, and clean, and the company has also developed the FlexView screen, which offers protection while being lightweight and noise-reducing.
The founder and CEO of FlexScreen is Joe Altieri, who created the first prototype of the FlexScreen in his garage after recognizing a gap in the market.
FlexScreen was featured on the television show “Shark Tank” during Season 11 and is available for purchase at a base price of $69.95 for all types of screens. Following their appearance on the show, Lori Greiner, one of the investors, decided to invest $400,000 in the company for 50% ownership and a $400,000 line of credit.
The company’s success on the show led to increased attention from other investors such as Kevin O’Leary and Barbara Corcoran.
FlexScreen Shark Tank
FlexScreen, the manufacturer of flexible window screens, appeared on ABC’s Shark Tank seeking an investment of $800,000 for a 6% stake in the company.
During the show, Kevin offered $800,000 in exchange for a 20% stake in the company, while Lori offered $400,000 in cash and a $400,000 line of credit for a 10% stake.
Barbara offered $400,000 in cash and a $400,000 line of credit in exchange for 50% of the retail business. In the end, Joe accepted Lori’s offer as he believed she had stronger connections in the hardware industry.
Since appearing on Shark Tank, FlexScreen has undergone significant changes. According to Joe Altieri, the founder, and CEO, having Lori Greiner as a partner has opened doors that may have otherwise been closed.
The company announced a partnership with Saint-Gobain ADFORS, a global building products business based in France, in early 2021. FlexScreen currently employs 100 people and expects to hire 130 to 150 employees across all of its sites by summer.
The company has around 50 employees in Pittsburgh, with the number expected to increase to 70 to 80 in the coming months. Its products are already available at Home Depot and are expected to generate over $20 million in sales in 2021.
FlexScreen Shark Tank Updates
FlexScreen is a company that offers flexible window screens for homes. The inventor and CEO, Joe Altieri, appeared on Shark Tank in season 11 to pitch his company and was seeking $800,000 for 6% of his business.
After demonstrating the product’s flexibility and durability, he received offers from three Sharks, but he ultimately accepted a deal with Lori Greiner for $400,000 and a $400,000 line of credit for 50% of new retail.
Since appearing on Shark Tank, FlexScreen has been doing very well for itself. According to an update segment that aired during season 12, the company did $15 million in sales in 2020 alone, and projected sales for 2021 are around $20 million.
The company has manufacturing plants in Pennsylvania, Georgia, Michigan, and South Dakota, with plans for more in the works.
Lori Greiner has been working with Joe Altieri to expand the company and replace the window screen industry completely.
FlexScreen has been featured again in a Shark Tank update segment, where Lori Greiner said that their goal is to have FlexScreen sold everywhere. The company has successfully expanded its business and secured a new owner.
In summary, FlexScreen is a company that offers flexible window screens for homes. After appearing on Shark Tank, the company has been doing very well for itself, with projected sales of around $20 million in 2021.
The company has manufacturing plants in several states and is working with Lori Greiner to expand and replace the window screen industry completely.
FlexScreen Shark Tank Table Summary:
|Founder and CEO
|Shark Tank appearance
|Season 11 (aired in 2020)
|$800,000 for 6% equity stake
|Current net worth
|Above $15 million (2022)
|Founder’s net worth
|Replacement window screens including the FlexView screen, which is lightweight and noise-reducing
|$15 million in 2020, projected to be around $20 million in 2021
|Currently employs 100, with plans to hire 130 to 150 across all sites by summer
|With Saint-Gobain ADFORS
|Products are available at Home Depot
What Is FlexScreen And How Does It Work?
FlexScreen is a new standard for windows that was featured on Shark Tank. It is a window screen that is made of PVC coated, carbon enriched spring steel, which makes it damage resistant and nearly indestructible.
The mesh on a FlexScreen is vinyl welded to the frame, creating an exceptional bond. The sleek, flexible frame fits firmly into the screen tracks already existing in most windows, eliminating the need for color matching and dramatically improving sightlines.
FlexScreen boasts advanced durability, effortless installation, and a virtually unimpeded view. It is designed to last and is built to withstand any damage that may come its way.
The company has experienced significant growth since its appearance on Shark Tank and expects to generate around $20 million in sales as of 2022.
What Is FlexScreen Made Of?
FlexScreen is made from PVC coated, carbon enriched spring steel. The frames are coated with an exterior grade PVC, making them scratch and weather-resistant. The mesh on a FlexScreen is vinyl welded to the PVC coated frame, creating an exceptional bond.
The frames are also powder-coated, making them scratch-resistant. The goal of FlexScreen is to create the most durable window screen in the world.
Who is the founder of FlexScreen?
Joe Altieri is the founder and president of Flexscreen. He came up with his concept while working in his garage after working in the sector for over 20 years.
In Shark Tank episode 1108, Joe Altieri invited the shark to invest in FlexScreen, his replacement window screens.
He accepts Lori’s offer since he believes Lori has stronger market connections.
What Was The Outcome Of The FlexScreen Shark Tank Pitch?
During the Shark Tank pitch, Joe Altieri sought an investment of $800,000 for 6% of his business equity in return. Lori Greiner made a deal with FlexScreen for $400,000 for 50% of the retail business and a $400,000 line of credit. The deal between Joe and Lori was not closed until August 20201.
Since then, the company has experienced significant growth, and FlexScreen was featured again in a Shark Tank Update segment where Lori Greiner said, “Our goal with FlexScreen is to replace the window screen industry completely”.
The company’s revenue tripled to $15 million after their appearance on Shark Tank, which proved to be a huge success for the business. FlexScreen expects to generate around $20 million in sales as of 2022 and will soon be sold everywhere.
What Happened To FlexScreen After Its Appearance At The Shark Tank?
Since its appearance on Shark Tank, FlexScreen has experienced significant growth and was featured again in a Shark Tank Update segment where Lori Greiner said, “Our goal with FlexScreen is to replace the window screen industry completely”.
The deal with Lori Greiner finally closed after the August 2020 rerun. Joe Altieri reportedly has manufacturing plants in his home state of Pennsylvania, Georgia, Michigan, and South Dakota, with more in the works.
According to the update segment on FlexScreen, the company did $15 million in sales in 2020 alone, and projected sales for 2021 are around $20 million.
What is the price of FlexScreen?
FlexScreens are priced starting at $69.95 for the regular mesh type. The price of the product increases if you upgrade to different mesh choices.
What is the location of FlexScreen?
FlexScreen is a Pittsburgh-based company with four production facilities around the United States, including one in Vermillion, appeared on the hit ABC show on January 5th 2020.
When was the last time FlexScreen was on Shark Tank?
FlexScreen made its debut appearance on “Shark Tank” in Episode 10 of Season 11 on January 5, 2020.
What is the composition of FlexScreen?
FlexScreen is comprised of phosphate-enhanced spring steel that is covered with a high-performance, exterior-grade PVC that is scratch and weather resistant.
Are flex screens beneficial?
The new FlexScreen window screens are simple to set up and take down. They also come with a lifetime guarantee and great customer care, making these the last window screens we’ll ever need.
There is more visibility since the screen’s frame slides into the slot.
Lori Greiner, who is she?
Greiner, dubbed the “Queen of QVC,” has built a reputation for identifying the next big thing.
They have extended outside of Pennsylvania (where Joe is) into other states in the recent year.
What are the locations of the plants in Canada?
Pennsylvania, Michigan, South Dakota, Georgia, and Ontario, Canada all have manufacturing operations.
What is the company’s next step?
Joe also informed his local newspaper that he and Lori intend to start a new retail division to sell to individual customers.
What are the figures?
When Altieri presented his income data to the judges, they were blown away: $400,000 in year one, $2 million in year two, $3.5 million in year three, and $5.1 million in year four (2018).
What is a FlexScreen, and how does it work?
It is the world’s first and only flexible window screen, according to the company’s website.
What is Altieri educational background?
In 1997, the entrepreneur graduated from Penn State University with a degree in Business Management and Marketing.
What is patent for FlexScreen?
FlexScreen received the first of 11 patent applications for its flexible window screen technology from the Patent and Trademark Office.
What Was Joe Altieri’s Original Concept?
Altieri spent 15 years as an independent sales person selling outsourced window screens before developing his basic notion for a cure to broken screens.
What is FlexScreen Pittsburgh, and how does it work?
FlexScreen Pittsburgh LLC is a 44,000-square-foot manufacturing plant that deliver manufactured window screens to the western Pennsylvania, West Virginia, Ohio, and eastern Michigan markets.