TekDry Shark Tank Update

TekDry Shark Tank Pitch

Adam Cookson and Craig Beinecke appeared on Shark Tank Season 8, Episode 3, which aired on October 7, 2016, with mail in service for quickly and safely drying and fixing wet phones and electronic devices.

TekDry is listed in the Services category. In plain terms, the business is described as mail in service for quickly and safely drying and fixing wet phones and electronic devices.

TekDry asked the Sharks for $500,000 for 5%, implying a valuation of about $10 million.

On the show, TekDry made a listed deal with Kevin O'Leary for $500,000 loan at 13% for 5% equity after loan is repaid.

If treated as straight equity, the listed deal works out to about $10 million implied valuation, roughly the same implied valuation as the ask.

This pitch is included as context for the more important question: what happened after Shark Tank.

TekDry After Shark Tank

Sources