FlexScreen is a company and the product of this company is Flexible Window Screen. This company was founded in 2013 by Joe Altieri and as of now, this product is the world’s first flexible window screen.
While inventing the product, Altieri made several prototypes and achieved a successful outcome. After the product was made, he started supplying it to window manufacturers and dealers. To expand the business, Altieri began to sell directly to the consumer.
To tell people about the product, he took the help of digital marketing and due to this, his sales reached millions of dollars.
Altieri appeared on Shark Tank Season 11 Episode 10 to grow the business and asked the sharks for $800,000 for 6% equity at a $13.3 Million Valuation.
What is FlexScreen?
FlexScreen is a flexible window screen and this screen can prevent dirty and insect pests from entering the house. Apart from this, this screen is also SUN + UV PROTECTANT.
It is very easy to install and remove this screen as it is entirely flexible. There are different options of flexscreen, you can buy according to your need. The standard screen costs $64.95 and the FlexView Solar costs $84.95.
|Product||World’s first and only flexible window screen|
|Asked For||$800k for 6% equity|
|Final Deal||$400k for 50% of retail business + $400k line of credit|
|Episode (Shark Tank USA)||S11 E10|
|Air Date||Jan 5, 2020|
|Business Status||In Business|
|Headquarters||Export, Pennsylvania, US|
|Lifetime Worth (Sales)||$108M *estimated|
|Buy and Watch||Buy Now||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of FlexScreen?
Joe Altieri is the founder and CEO of Flexscreen. After graduating from Penn State University in marketing, Altieri worked as a sales manager for Shapes Unlimited Inc for 3 years.
In 2019, he started a digital marketing company Reflex Brands.
How Was The Shark Tank Pitch Of FlexScreen?
Joe Altieri, after entering Shark Tank, demanded $800k from the sharks for 6% equity. After hearing this demand, all the sharks were surprised.
He had annual sales of $400k in the (2015) first year, $2 million in the 2nd year, $3.5 million in the 3rd year, and $5.1 million in the last year(2018). Last year the gross margin was $700,000 because Altieri buys the product for $10 and sells it for $11.50.
Barbara Corcoran made an offer of $400k + $400k as a line of credit for a 50% stake in the retail business only.
Kevin O’Leary made an offer of $500k for a 20% equity, contingent on a deal with a big window manufacturer. Lori Greiner matched Barbara’s offer. Altieri accepted Lori’s offer.
What Happened To FlexScreen After Shark Tank?
Flexscreen got a deal on Shark Tank. Lifetime sales of this company were $11 million before Shark Tank, but after Shark Tank, the company’s sales increased to $15 million within 1 year.
By 2021, the products of this company became available at Home Depot, Lowes, and Menards. As the business grew, Altieri hired 150+ employees. In 2021, the company’s annual revenue was $20 million.
In 2022, Altieri partnered with Harvey Windows, and in 2022 the company’s annual revenue reached $25 million.
What’s new on FlexScreen
Last Update: August 15, 2023
As of August 2023, the company has an annual revenue of $30 million and is expected to reach $100 million in sales by 2024.
FlexScreen Shark Tank Update
The progress report of this company was shared in Shark Tank Season 12 Episode 12 (2020). The company had annual sales of $5.1 million before Shark Tank and $15 million in sales within 1 year after Shark Tank.
In the time of the Covid19 Pandemic, many people have to buy Flexible Screens. Altieri has started running the full capacity of 4 United States Manufacturing plants in the face of product demand. The first international manufacturing plant was opened in Canada.
To expand the FlexScreen business, Lori made a deal with Saint Gobain, the world’s largest windows and screen manufacturer.
What Is the Net Worth of FlexScreen?
FlexScreen has an estimated net worth of $60 million. The valuation of this company was $13.3 million in Shark Tank but has increased up to 5 times in the present. The founder of the company is partnering with big windows and screen manufacturers to expand the business.
Is FlexScreen Still In Business?
FlexScreen is a successful Shark Tank company, Lori has helped this company grow by investing. Along with focusing on this business, Altieri is also running his own digital marketing company.
The current headquarter of this company is in Export, Pennsylvania, United States, and 100-200 people are working in it.
Yes, FlexScreen is still in business as of August 2023.