What Happened to Screenmend after the Shark Tank Pitch? Screenmend Shark Tank Update
What is Screenmend? Who is the Founder of ScreenMend?
ScreenMend is a do-it-yourself screen repair kit that can fix small tears in various types of screens such as window and door screens, tent netting, and pool screens.
The kit includes wax and patches that are applied to the screen using heat from a hairdryer, making the repair process quick and easy.
The patches are made to last and resist the elements. The founder of ScreenMend is Brad Hooks, who came up with the idea while repairing his own screen with the help of his daughter Lily Hooks, who is also a co-founder of ScreenMend. The company is currently available on Amazon.
What Happened to ScreenMend Shark Tank at the Shark Tank Pitch?
On Season 5 Episode 4 of Shark Tank, the founders of ScreenMend, Brian, Lily, and Emma, pitched the product to the Sharks, asking for $30,000 in exchange for 25% of the company, which valued it at $120,000.
They explained how the product, a wax-based screen repair patch, was invented by Lily and demonstrated how to use it with a hair dryer.
They had already sold 750 units and were producing them in their garage. They also mentioned that they had a provisional patent and that their main competition did not use wax as an adhesive.
The Sharks were impressed by the profit margins of the product and the story behind it, but ultimately, all of them except Mark Cuban and Lori Greiner decided to pass, citing the lack of business background of the founders.
Mark offered the $30,000 for 25% of the company and Lori offered $30,000 for 50% with the intention of bringing the product to retail and television. The founders decided to accept Lori’s offer and Mark praised them for their decision.
What Happened to Screenmend after the Shark Tank Pitch?
After the Shark Tank pitch, ScreenMend experienced great success with Lori Greiner as a partner. They sold one product per minute for an entire week after the show and received a lot of attention from retailers.
Lori redesigned the packaging and secured distribution at major retailers such as Lowe’s, Home Depot, Bed Bath & Beyond and ACE Hardware.
The company made over $900,000 in sales since their debut, and Lori moved them to a new manufacturing facility.
However, later the company rebranded itself as Screen Force, a screen repair company, but the products can still be found in stores and on Amazon.
In 2016, Spark Innovations LLC, a company that develops consumer goods brands and launches them into retail, purchased ScreenMend for an undisclosed sum.
Lily Hooks, one of the co-founders, graduated from the University of Alabama in 2022 and continues to work part-time as the company’s president.
Emma Hooks, another co-founder, received her bachelor’s degree in acting from American University in 2019 and continues to pursue her acting career. As of August 2021, the company’s annual revenue is $5 million.
What is the Net Worth of Screenmend?
The net worth of ScreenMend is not publicly disclosed. In the Shark Tank pitch, the founders, Brian, Lily, and Emma, asked for $30,000 in exchange for 25% of the company, which valued it at $120,000. However, they accepted an offer from Lori Greiner for $30,000 for 50% which brought the valuation to $60,000.
Later, in 2016, Spark Innovations LLC, a company that develops consumer goods brands and launches them into retail, purchased ScreenMend for an undisclosed sum.
Without any official financial statement from the company, it is impossible to determine the current net worth of ScreenMend.
Who are the Competitors of Screenmend?
There are no competitors identified for Screenmend?
What is Screenmend?
ScreenMend is a simple do-it-yourself screen repair kit that works on all types of screens. It’s a low-cost way to repair small tears in window and door screens, tent netting, pool screens, and other materials.
Who founded Screenmend?
Brian Hooks, the founder of ScreenMend, was inspired to invent the solution while mending his own screen. Hooks’ daughter Lily recommended using candle wax when the adhesive patches he had wouldn’t attach to the screen.
How much were they seeking in the Shark Tank?
In Season 5 Episode 4, Brian, Lily, and Emma asked for $30,000 in exchange for 25% of ScreenMend. This equates to a $120,000 valuation.
Did they get the deal from the Sharks?
ScreenMend got a deal from Lori Greiner for $30,000 for half the business. This valued the company at $60,000.
Is Screenmend still in business?
Spark Innovations, LLC, a firm that develops consumer goods brands and launches them into retail, purchased the company in 2016 for an undisclosed sum.
ScreenMend is still in business according to the official website.
Where is Screenmend located?
The headquarters of Screenmend are located in Orem, Utah.
Where can they get a ScreenMend?
ScreenMend can be purchased from the official website or Amazon.
How much are they selling for?
ScreenMend sells for $6.99.
How long have they been in business?
They began as Screen Enforcement in 2008 and changed their name to “Screen Force” in 2014 after developing their own unique online buying system.
Screen Force’s crew has over 75 years of expertise in the film and television industry.
Are they Licensed & Insured?
A State Certified Contractors License, the necessary municipal, county, and state business tax licenses, and a $1,000,000 General Liability Insurance policy protect Screen Force.
All of their expert installers’ licenses and insurance documents are also kept up to date.
When was ScreenMend aired on Shark Tank?
ScreenMend made an appearance on Shark Tank Season 5 Episode 4 on November 10, 2013.
What is annual revenue of the Company?
The company’s revenue is $5 million as of August 2021.
What Happened to ScreenMend after the Shark Tank?
They sold out on QVC in episode 606, Lori redesigned the packaging and secured distribution at Lowe’s, Home Depot, Bed Bath & Beyond, and ACE Hardware.