TekDry Net Worth – How Much is TekDry Worth?

TekDry is a service that enables customers to dry their phones and other devices that have been damaged by water. The company uses a patented technology that draws out liquid from the phone or device, allowing it to be cleaned up and restored. They also offer services for large devices like televisions, laptops and tablets. Their service takes about 30 minutes to complete and the process is free of charge.

TekDry offers its services through several channels, including mail-in services, retail stores, and online sites. It accepts MasterCard and Visa. Customers can rent one of their machines for a minimum of $80 per month. However, many of TekDry’s products are not readily available throughout the country.

In 2014, TekDry was founded by Adam Cookson and Craig Bineckie. The pair began with a $2.3 million seed round. After appearing on Shark Tank, TekDry raised $2 million. The firm had been generating around $29,000 in sales the year prior, but it plans to expand its services and increase its number of stores.

Adam Cookson and Craig Beinecke appeared on season eight of Shark Tank. Both of the entrepreneurs appeared in the third episode of the show. On the show, the two of them discussed the TekDry machine and its capabilities. At the time, TekDry had a unit in 82 stores and planned to open more in the coming year. During the pitch, the inventors showed off a video of the TekDry machine inside.

TekDry is still in business as of 2022. As of that year, the firm had made about $1 million in revenue, which is impressive. Unlike most start-ups, TekDry keeps a majority of its revenues, with 40% going to the firm.

Although TekDry has grown steadily, it faces significant gaps in its service areas. Many of the products and services TekDry sells are not widely available across the country, and there are few stores in certain parts of the country that are able to accept the machines. To fill this void, the firm has recently announced a deal with Staples. A partnership with the retail giant will place TekDry’s equipment in 600 of the chain’s stores.

According to the company’s website, TekDry offers services to “recover and restore lost data on smartphones, digital cameras and other devices that have been affected by water.” One of their most notable innovations is their ability to restore a phone to its original condition. This is particularly important since a smartphone is a highly valuable commodity, and if it gets damaged by water, it can be replaced for hundreds of dollars.

According to a TekDry update posted after the show, the company is expanding its business beyond just restoring wet electronics. By 2020, the company hopes to have 600 stores in the United States. Despite its success, TekDry is still looking for investors to help them scale their production. Some of the more successful sharks offered to invest in the company, but the entrepreneurs were not interested.