IReTron Shark Tank Net Worth 2023
IReTron entered the Shark Tank seeking $100,000 for a 20% stake, implying that it was valued at $500,000.
This valuation was accepted by Mark and Barbara who offered the same amount of money in exchange for a stake of equal size. Unfortunately, since IReTron closed in 2019, its current net worth is unknown and unavailable.
What is iReTron?
iReTron, a company based in Los Gatos, California, provides an ecommerce and recycling service that allows individuals to sell their used electronic devices for free. This includes smartphones, iPhones, iPods, MP3 players, tablets, iPads, e-readers, and calculators.
Users can input the model and condition of their used gadgets on the iReTron website and receive a monetary offer, which they can either accept or decline. In addition to this, iReTron also repairs and resells discarded devices and provides free shipping.
One of the company’s founders, Li, is a high school senior and believes that his extra years of experience running the company would impress a Shark investor.
iReTron has a straightforward business model: they buy used electronics like mobile phones, tablets, and MP3 players and restore them for resale. If someone wants to sell their older iPhone, all they have to do is log in to the site, request a quote, and iReTron will send a prepaid shipping label. Once the company receives the device, they pay the seller via check or PayPal within 48 hours.
Li’s goal is to promote recycling and reduce electronic waste on a global scale through his socially conscious business. He claims to have over 1,000 customers in the first year of operation.
Jason Li is the founder of iReTron.
What Happen To iReTron At The Shark Tank Pitch?
During Shark Tank season 5 episode 20 on March 14, 2014, Jason Li, a 16-year-old inventor from Los Gatos, California, presented his company iReTron to the Sharks. He was seeking $100,000 for a 20% stake in the company, which would value the business at $500,000.
Jason emphasized the “green” aspect of his company, but the Sharks were primarily concerned with the financial aspect of the business. Robert Herjavec asked about iReTron’s customer base, and Jason explained that his company had resold all of the items they had acquired in the two years of operation.
Their customer base was attracted to the company’s reputation as a “social corporation,” and they had taken over 5,000 items, including some with no market value. However, the Sharks were not impressed with this strategy as it could potentially lead to a loss in investment.
Kevin O’Leary emphasized that there were hundreds of competitors, and he believed that the business was not proprietary. He stated that an investor’s litmus test should be whether they could develop the same service themselves for far less than the investment and still profit. In other words, he believed he could launch this firm on his own if he believed it would be viable.
Mark Cuban felt that the investment was too early to improve the firm and left. Robert Herjavec admired Jason’s ambition and vision, but he was unsure if it was a sound investment and left as well.
Barbara eventually made an offer of $100,000 for a 20% stake in the company. She believed in Jason but was unsure if the company would succeed or fail, making it a risky investment. Lori Greiner didn’t think she could match or exceed Barbara’s offer and left.
Jason inquired whether Mark Cuban would be willing to participate in the offer, and Mark agreed. Jason left the stage with a deal for $100,000 for a 20% stake in the company.
IReTron After The Shark Tank Pitch
The agreement between IReTron and the Sharks fell through and was not completed. However, Jason, who is now a student at the University of Chicago, has launched another startup called UProspie. This new venture connects prospective college students with current students who offer tours and insider information about their ideal campuses.
IReTron’s website is still active, suggesting that the company is conducting business. Although updates on social media appear to be slightly delayed, this could be because Jason is currently focusing on his studies and new job.
Jason is proud to have inspired other young people to pursue their dreams. He fondly remembers a younger student who approached him for a photo after seeing him on Shark Tank.
Undoubtedly, Jason Li has a promising career ahead of him. In 2019, he sold his company and is now employed as a product manager at Oscar Health, a virtual care provider, where he has been working for two years. He also continues to deliver lectures on business tips, including at the University of Iowa.
IReTron Shark Tank Summary:
| INFORMATION | DETAILS |
| Company Name | iReTron |
| Founders | Jason Li |
| Business | An e-commerce and recycling service that buys used electronics and restores them for resale |
| Location | Los Gatos, California |
| Shark Tank Appearance | Season 5, Episode 20 |
| Valuation | $500,000 for a 20% stake |
| Investment Offered | $100,000 for a 20% stake by Mark Cuban and Barbara Corcoran |
| Investment Accepted | Yes |
| Investment Fell Through | Yes |
| Current Status | Closed in 2019, current net worth unavailable |
| Competitors | Back Market, asgoodasnew, 2GUD, Aihuishou |
| Founder’s Current Venture | UProspie, a start-up connecting prospective college students with current students for tours and insider information |
| Founder’s Current Position | Product Manager at Oscar Health, and Lecturer at the University of Iowa |
IReTron Net Worth
IReTron enters Shark Tank seeking $100,000 for a 20% stake. This values the property at $500,000. He accepted an offer from Mark and Barbara of $100,000 for 20% stake thus valuing at the same value.
IReTron was closed in 2019 thus its current net worth is unavailable.
IReTron Competitors
Back Market, asgoodasnew, 2GUD and Aihuishou are some of its competitors.
Iretron Shark Tank Updates
IReTron is a company that appeared on Shark Tank seeking a $100,000 investment in exchange for 20% of the company. The company is an online reclaimer’s business that buys used or unwanted electronics and offers the highest price on the market.
However, IReTron never closed the deal with the Sharks.
IReTron closed in 2019, and its current net worth is unknown and unavailable. The company’s website is still operational, but it only shows an “under maintenance” page.
After IReTron, the founder Jason Li started a second business called UProspie, which connects prospective college students with current students, providing them with tours and insider information on the campus of their dreams. Currently, none of Jason’s startups are active.
IReTron FAQS
What Is Iretron Shark Tank?
IReTron is a company that buys and refurbishes old electronics, such as cell phones, tablets, and MP3 players, for resale. The company was founded in 2010 by Jason Li, a college student studying economics who saw a need for a more efficient way to recycle electronics.
IReTron has a website and an app that makes it easy for customers to trade in their old electronics for cash.
In 2014, IReTron appeared on Shark Tank in episode 516, the Young Entrepreneurs Special. Li, who was a high school senior at the time, hoped to secure a Shark investor for his business. The Sharks were impressed with IReTron’s business model and offered Li a deal, but he ultimately turned it down.
Since appearing on Shark Tank, IReTron has received a cash infusion from investors, which has helped the business offer customers the highest price possible for their electronics. As of 2023, there have been no further updates on IReTron’s progress on Shark Tank or in the business world.
How Does Iretron Shark Tank Works?
IReTron is a company that buys, recycles, donates, resells, and disposes of used and unwanted electronics for the highest price. The company was founded in 2010 by college student Jason Li, who saw a need for a more efficient way to recycle electronics.
IReTron has a unique business model where they partner with companies that want to recycle their old electronics. These companies get a tax write-off for their donation, and IReTron gets to sell the products.
In 2014, Jason Li appeared on Shark Tank seeking a $100,000 investment in exchange for 20% of his company. IReTron is a straight forward business: they buy old electronics – like cell phones, tablets, and MP3 players – and refurbish them for re-sale.
If you have an old iPhone, you just logon to the site, get a price quote and IReTron emails you a prepaid shipping label. Unfortunately, IReTron did not make it as a company and ended in 2019. The site’s domain, iretron.com, still exists but it just shows an “under maintenance” page.
What Happened To Iretron After Shark Tank
IReTron is a company that buys and sells used electronics. It appeared on Shark Tank in 2014, seeking $100,000 for a 20% stake, implying that it was valued at $500,000.
Mark Cuban and Barbara Corcoran offered the same amount of money in exchange for a stake of equal size, but IReTron never closed the deal with the Sharks. The current net worth of IReTron is unknown as of 2023 since the company went out of business in 2019.
After IReTron, founder Jason Li started a second business called UProspie, which connects prospective college students with current students, providing them with tours and insider information on the campus of their dreams. The IReTron website is still active, but it is unclear if any business is being conducted through it.
What Is The Current Valuation Of Iretron Shark Tank
IReTron appeared on Shark Tank seeking $100,000 for a 20% stake, implying that it was valued at $500,000. This valuation was accepted by Mark Cuban and Barbara Corcoran, who offered the same amount of money in exchange for a stake of equal size.
However, IReTron closed in 2019, and its current net worth is unknown and unavailable. The net worth of IReTron was $500,000 before it appeared on Shark Tank.
IReTron is a company that buys and sells used electronics. They have a website and an app that makes it easy to trade in old electronics for cash. IReTron was founded in 2010 by college student Jason Lii, who saw a need for a more efficient way to recycle electronics.
IReTron partners with companies that want to recycle their old electronics, and these companies get a tax write-off for their donation, while IReTron gets to sell the products.
In conclusion, the current valuation of IReTron is unknown since the company closed in 2019, and its net worth is unavailable. However, IReTron was valued at $500,000 when it appeared on Shark Tank.
Is Iretron Shark Tank Still In Bussiness?
IReTron, a company that buys and sells used electronics, is no longer in business. The company was founded in 2010 by college student Jason Li, who appeared on Shark Tank in 2014 seeking $100,000 for a 20% stake in the company.
Mark Cuban and Barbara Corcoran offered the same amount of money in exchange for a stake of equal size, implying that the company was valued at $500,000. However, IReTron closed in 2019, and its current net worth is unknown and unavailable.
The iretron.com domain still exists, but it shows an “under maintenance” page. Jason Li closed the business in 2019 and now works as a product manager at Oscar Health, a virtual care company. In September 2022, Jason left his job at Oscar to travel the world and explore its oceans.
Therefore, it can be concluded that IReTron is no longer in business, and its founder has moved on to other ventures.
What is iReTron?
It is an online platform that enables consumers to recycle old iPhones, iPads and other Apple products.
Who is the founder?
Jason Li, who lives in Los Gatos, California.
How much were seeking on Shark Tank?
Janson Li was asking for $100,000 for 20% stake of his company.
Did he get the deal?
He got a deal with Mark Cuban and Barbara Corcoran for 100,000 for 20% stake.
Is iReTron still in business?
No, he closed the business in 2019.
How much money has iReTron taken in?
It has taken in $40,000 since its launch two years ago.
How does it work?
IReTron provides a free shipping label that consumers can use to ship their old phones or other electronic devices for processing.
The consumer will then receive payment in the form of check or PayPal through iReTron.
Where is iReTron located?
It is located in Los Gatos, California.
What is iReTron phone number?
It is unavailable.
What happened to IReTron on Shark Tank?
IReTron’s arrangement with the Sharks was never completed.
Jason, who is now a student at Chicago University, has created a second start up, UProspie, which connects prospective college students with current students, giving tours and insider information about their ideal campuses.
What is iReTron Net Worth?
IReTron enters Shark Tank seeking $100,000 for a 20% stake. This values the property at $500,000. He accepted an offer from Mark and Barbara of $100,000 for 20% stake thus valuing at the same value.
IReTron was closed in 2019 thus its current net worth is unavailable.
Who are iReTron Competitors?
Back Market, asgoodasnew, 2GUD and Aihuishou are some of its competitors.
How was they making money?
They were charging for the service.
What was strengths of iReTron?
Its strength was in its technology which was ahead of the industry. It was also very customer friendly and efficient.
What were iReTron’s Weaknesses?
The main weakness was that they did not have a proven track record.
What is the Jason Li’s net worth?
Unknown.
