In case you missed it, the popular show Shark Tank aired an episode featuring a new invention by FlexScreen entrepreneur and CEO, Joe Altieri. The product is a replacement window screen that can be sized to fit any window size and features a magnetic strip for easy installation.
After Altieri made his pitch, he received offers from two of the Sharks: Mark Cuban and Lori Greiner. They were both impressed with FlexScreen’s potential and wanted to invest in it in exchange for a 30% stake in the company. After some negotiation, Altieri accepted their offer and sealed the deal on air. But how has FlexScreen fared since the show aired? Let’s find out!
Story Behind the FlexScreen
And so, Joe invented a FlexScreen. FlexScreen is a replacement window screen that is held in place by tension and can be removed easily without the need for any tools. The screen provides a cleaner, more durable option than traditional window screens.
The screen is a PVC-coated steel spring frame. This is the secret behind FlexScreen’s patented design. The frame is flexible and can be used to fit almost any window size or shape. And best of all, it’s also easy to clean!
Each display is tailored to fit your specific needs. All you need to do is measure the height and width of your window, select the size on their website, and order online. FlexScreen can be ordered in any color you choose from black to white to even just clear.
As for the price, Joe sells his screens for $ 70 per window, plus the cost of shipping. To reach a wider audience, Joe wants to receive help from a Shark. [1] [2]
How Did the FlexScreen Shark Tank Pitch Go
Joe is looking for an investment of $ 800,000 in exchange for 6% equity in his business. He begins with an explanation of the FlexScreen product and how it compares to traditional window screens.
He’s been working on his venture for five whole years and during this time he managed to sell over $ 5 million of his product. Joe then demonstrates how easy the installation is and promotes the various features of FlexScreen.
The Sharks seem impressed with Joe’s determination and inventiveness but they also express some doubts about him selling his product to manufacturers directly instead of through a middleman. Mark Cuban suggests that Joe focuses on selling his product to Home Depot or Lowe’s, in order to reach a larger market.
Nevertheless, nearly everyone is interested. Kevin goes first, offering $ 800,000 in exchange for $ 800,000 for 20% contingent on a licensing deal with a major window manufacturer. Then goes Lori who offers $ 400k in cash and a $ 400k line of credit in exchange for 10%. Barbara is interested as well and offers $ 400,000 in cash and a $ 400,000 line of credit in exchange for 50% of the retail business. Initially, Joe seemed to go with Barbara’s offer, but then considers Lori’s relations to the hardware industry and roles back to her offer.
Joe, who seems to be struggling with the decision, ends up accepting Lori’s offer. His venture has been funded and he is now ready to bring his innovative product to the mass market. Thanks to FlexScreen and Shark Tank, Joe Altieri can now become a big name in the replacement window industry! [2]
How is FlexScreen Doing After the Show
As we can see, Joe Altieri has done incredibly well since appearing on Shark Tank. An appearance on live TV does magic for a business and by getting funded, Joe was able to reach more people with his product.
Luckily, Joe had managed to close his deal with Lori Greiner and the two are working very closely together. Joe is said to have built manufacturing plants in four states already, specifically Pennsylvania, Georgia, Michigan, and South Dakota. Furthermore, it’s reported that he has plans for more facilities in the near future. Joe had planned on introducing his product to retail, and he succeeded at that!
This was achieved thanks to the partnership with Saint Gobain, one of the largest window manufacturers in the world. They now offer FlexScreen to their customers and most of the major hardware stores across the US. Joe’s product is also available online with Home Depot and Amazon featuring it!
Of course, such commercial success means they require more working power, and so Joe Altieri has been able to employ over 150 people in the last two years. This is remarkable for a Shark Tank business and it shows that not only was FlexScreen worth investing in, but it has also brought jobs to many people!
FlexScreen also managed to secure a partnership with Harvey Windows, one of the biggest window manufacturers in the United States. This means that now customers who buy windows from Harvey Windows can choose to buy FlexScreen as well!
They keep opening new factories and have plans for many more. As far as the sales go, in the year 2021, they hit $ 20 million in annual sales, which is an amazing achievement for a Shark Tank business.
The social media presence of the company is also decent. Their Instagram account boasts 4k followers and their Facebook page has 17k likes.
Overall, FlexScreen has been able to reach more customers and make their lives easier with its innovative product. Thanks to Lori Greiner’s help, Joe could bring his product to retail stores nationwide and even abroad. It’s incredible what can be achieved with the right partner! And we are sure that Joe is planning bigger things for the future of FlexScreen. [2] [3] [4]
What is FlexScreen’s Net Worth
In 2021, FlexScreen reported an estimated $ 20 million in sales and with that amount of income, it’s safe to assume that their net worth will only continue to grow. They are now also partnering up with one of the biggest window manufacturers in America, Harvey Windows, so there is no doubt that this will bring them more success as well.
The success of FlexScreen can be attributed to Joe Altieri’s hard work and dedication over the years since appearing on Shark Tank. His innovative product has allowed the company to reach more customers and stand out from its competitors. By partnering with Lori Greiner, Joe was able to bring his product to retail stores nationwide and online retailers like Home Depot and Amazon. [5]
FAQ
Is FlexScreen successful?
Yes, FlexScreen is indeed successful. After appearing on Shark Tank, the company has grown exponentially. They began selling their products online and quickly grew to become one of the most popular window-covering brands in North America.
They now can be found in many retailers nationwide that carry their products and are constantly expanding into new markets. Their patented “Flexible Screen System” allows for easy installation and customization for any window size or shape. This system also provides superior insulation from heat transfer and sound penetration, making it ideal for both residential and commercial applications.
Did FlexScreen get a deal?
Yes, FlexScreen was able to score a deal on the show. After much deliberation, Lori Greiner agreed to give FlexScreen $ 400k in cash and a $ 400k line of credit in exchange for 10%. The entrepreneurs behind FlexScreen were thrilled with the terms of their deal as they felt it would help them continue to grow their business.
This deal was eventually finalized and the FlexScreen team got to take advantage of Lori’s knowledge and experience to help them succeed. With her advice, they have been able to expand their product line and develop new technologies that make window screens easier and more efficient to install.
Who are the owners of FlexScreen?
FlexScreen is owned and operated by its founder Joe Altieri, who first appeared on Shark Tank in 2019. Joe has extensive experience in window screen manufacturing which helped him develop FlexScreen’s innovative technology.
FlexScreen’s patented technology is backed by a team of engineers, designers, and product experts. This includes Chief Technology Officer Bill Stafford and Chief Product Officer Robert Abel who has been instrumental in developing the FlexScreen system.
How much does FlexScreen cost?
FlexScreen is a revolutionary product that claims to be a better version of traditional window screens. It’s designed to be simple and easy to install, making it an attractive alternative to the more complicated and time-consuming installation of traditional window screens.
Who is the inventor of FlexScreen?
Joe Altieri is the inventor of FlexScreen, a revolutionary window screen technology. He is an entrepreneur who has been working on developing and selling FlexScreen for more than five years. After appearing on Shark Tank, he gained more recognition and attention for his product.
Joe Altieri developed the idea for FlexScreen after learning about how traditional screens can be easily stained and hard to remove. He wanted to create a screen that would not only be more durable than traditional screens but also provide better insulation and save time.
What is the purpose of FlexScreen?
Joe Altieri had enough experience in the window screen industry to know that there was a need for an innovative solution. He created FlexScreen as the perfect product for ensuring windows stay secure, and knew it had the potential to revolutionize the window screen industry.
Useful Video: Smack It With A Hammer! | FlexScreen on Shark Tank
Conclusion
Joe Altieri had enough experience in window screen making to be confident that FlexScreen could take off. After his appearance on Shark Tank, Joe was able to secure $ 400k in cash and a $ 400k line of credit in exchange for 10% from Lori Greiner. This allowed him to expand the business, create new products, and establish a solid foothold in the window screen market.
The company has done well since its time on Shark Tank. They opened even more production facilities and got several partnerships which helped them grow and continue to produce their innovative products. This includes partnerships with Lowe’s, Home Depot, Ace Hardware, and others.
FlexScreen currently employs hundreds of people and enjoys strong customer support. The company also still has aspirations to go nationwide and is continuing to make strides in that direction.
It’s safe to say that Joe Altieri was right when it came to his belief in FlexScreen: the product has taken off and continues to be popular today. With strong customer support and a successful Shark Tank appearance, this company will only continue to grow and make an impact on the window screen market.
Thanks for reading this blog post on FlexScreen! We hope you found it useful in understanding Joe Altieri’s journey with the company. With this information, we’re sure that you will be able to make a well-informed decision about whether or not FlexScreen is right for your window screening needs. We wish you luck in your search for the perfect window screen product!
References:
- https://www.sharktankblog.com/flex-screen-replacement-window-screens/
- https://www.sharktankblog.com/business/flexscreen/
- https://www.instagram.com/flexscreen/
- https://www.facebook.com/flexscreen
- https://insidergrowth.com/flexscreen-net-worth/