Shark Tank participated, made for the off-duty fire brigade workers to earn some extra income and for locals to get their complex work done. An app like Hidrent is the need of an hour. This convenient app participated in Shark Tank and got its desired investment in return for part of the Equity. Curious to know what is the Net Worth of Hidrent will be in 2022. Let us find out.
Dave Heimbuch, the pioneer behind this brilliant idea, appeared in Shark Tank in the year 2021 to showcase how his app is going to help millions of locals in the USA. There are numerous people living across the country who need help with various domestic chores such as moving the furniture, fixing, and cleaning. There are many who are unable to do it but are able to hire someone to get the work done.
An app, Hidrent, where people from the American Neighbourhood can connect with the local off-duty firefighter, who can safely visit the house to get work done and earn some extra money.
In the 13th season of Shark Tank, Hidrent paved its way to America’s big platform for entrepreneurs for investment, and now netizens are curious about the Net Worth of Hidrent in 2022. So find everything you need to know here about Hidrent’s profits here.
Who is the Founder of Hidrent, and how much investment was he seeking from sharks?
As mentioned earlier, the great mind behind this absolutely convenient idea is Dave Heimbuch, who has a background in digital marketing and sales. As he got married into a family full of firefighters, Dave said that his digital marketing mind started connecting his skills with the work of the firefighters.
Dave’s idea was to help those housewives and elder people living in the American neighborhood struggling to find a safe and skilled person to do the complex work such as fitting and moving their houses. So he couldn’t find a better idea than connecting them with workers at the local fire station whom the people living around the station could trust on.
To explain this to the sharks, Dave portrayed a life of an elderly Rose who lives alone and needs help moving furniture. She books and schedules her appointment with Dan, a local firefighter who visits her place at the given time, helps her, and makes the extra earnings.
Dave asked for a $300,000 investment for the 8% equity at Hidrent. However, Sharks did not seem to agree with his offer. Robert and Lori offered him $300,000, but for the 35% equity together, Dave tried negotiating for the 20% equity, and then both sharks and Dave agreed on $300,000 in exchange for 33.33% equity at Hidrent.
Talking about Hidrent’s previous investments, Dave managed to raise seed funding of $662,500 from 9 different investors, according to Crunchbase reports. Also, till 2021 company’s revenue was $850,000.
Hidrent started selling to a very small portion of the country, and now because of the Shark Tank appearance, his app has received widespread fame, and many from the USA are using Hidrent’s service to make their work easier.
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Hidrent Net Worth – 2022
Hindrent uses a commission strategy to make its earnings. Also, with per download, Hidrent earns revenue. Talking particularly about the commission strategy, Hidrent takes some amount as a commission from the amount earned by the firefighters. The fees per task are set between $100 to $300, but according to the complexity of the task, the fees are subject to increase.
In the year 2019, Hidrent’s revenue was $125,00. In 2020 it increased to $260,000, then it again increased in the year 2021 to $325,000. Because of an excellent idea and Shark Tank appearance, the Net Worth of Hidrent in the year 2022 was $1.5 million and is subject to increase in the coming years.
As Hidrent has already received huge fame and love from all around the country, users of the app are waiting when the app will receive a multinational status and will help elderlies and housewives around the world with their most difficult domestic chores.
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