Hidrent is a trustworthy platform designed to help off-duty firefighters earn extra income. Users can book various projects and services through the Hidrent mobile app, and a skilled firefighter will be dispatched to complete the job.
When you book a home service using the Hidrent app, a notification is sent to the nearest available firefighter. Once they accept the order, they will come to your home to perform the requested work.
After the job is completed, the firefighter will log the time spent on the task in the app. An invoice will then be generated for you to complete the payment through the Hidrent platform. Hidrent deducts a 20% fee from the total amount paid, with the remaining 80% going directly to the firefighter.
Hidrent offers a variety of services, including:
- Light Fixtures
- General Handyman Tasks
- Furniture Moving
- Holiday Lights
- Smoke Detector Installation
- Hanging and Hauling
- Furniture Assembly
- TV Wall Mounting
- Gutter Cleaning
Customers can expect to pay approximately $100 to $300 for each job.
| Company Name | Hidrent Inc. |
| Founder | Dave Heimbuch |
| Founded | May 2017 |
| Product | connects off-duty firefighters who are looking for extra work with people |
| Asked For | $300k for a 8% equity |
| Final Deal | $300k for 33.3% equity |
| Shark | Robert Herjavec and Lori Greiner |
| Episode (Shark Tank USA) | S13 E6 |
| Air Date | Nov 12, 2021 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Dallas, Texas, United States |
| Lifetime Worth (Sales) | $1.9M *estimated |
| Go To Amazon | Buy Now |
| Watch On | Amazon Prime |
Another Shark Tank Pitch
Who Is The Founder Of Hidrent?
David Heimbuch is the founder of Hidrent Company and a professional salesperson with extensive experience. He has worked for several companies, including Tapad, AT&T Mobility, and Shazam Entertainment.
David earned a Bachelor of Science in Business Administration from the University of Nebraska-Lincoln. Since April 2019, he has also been a member of the Accelerator Program at Capital Factory.
How Was The Shark Tank Pitch Of Hidrent?
Dave Heimbuch entered Shark Tank with his company Hidrent, seeking $300,000 for 8% equity. Heimbuch showcased a demo session to illustrate his service, making the presentation engaging.
Launched in 2018, Hidrent has achieved lifetime sales of $850,000, with annual sales of $125,000 in 2019, $260,000 in 2020, and $325,000 so far in 2021. The company retains 23% of these sales. Hidrent charges homeowners $72 per hour while paying firefighters $60.
The majority of customers on the platform are senior citizens. They acquire customers through Google, Facebook, and Nextdoor, a platform where Nirav Tolia mentioned they added 50 million users without spending any money on advertising.
During the pitch, Nirav Tolia stated he was out, having completed the “Neighborhood Journey.” Mark Cuban also withdrew, expressing that he didn’t see a path to control the business’s destiny.
Robert Herjavec found the idea brilliant and made an offer of $300,000 for 20% equity. Kevin O’Leary opted out, stating he couldn’t take the journey. Lori Greiner, who has a soft spot for firefighters, expressed interest in partnering with Robert.
Initially, Lori and Robert agreed to jointly invest $300,000 for 20% equity. However, Robert countered for a larger share, requesting $300,000 for 35% equity. Heimbuch responded with a counteroffer of $300,000 for 20% equity. Robert maintained that this wasn’t sufficient for both investors, leading Lori to propose $300,000 for 33.3% equity, which Heimbuch accepted.
Finalize: Lori Greiner and Robert Herjavec invest $300k in “Hidrent” for 33.3% equity.
What Happened To Hidrent After Shark Tank?
Hidrent Handyman Company successfully secured funding on Shark Tank, with both Lori Greiner and Robert Herjavec investing in the business. This platform exclusively hires firefighters, which instills a sense of trust among users. Many senior citizens and single mothers can utilize this app with confidence.
Prior to its appearance on Shark Tank, the company was operating in a limited number of states; it is now providing services nationwide.
According to reports from Crunchbase, the company raised $662,500 from nine investors in a seed round on February 21, 2020, before appearing on Shark Tank. Hidrent also conducted an equity-based fundraising campaign on StartEngine at an $8.5 million valuation, which closed on October 20, 2022, raising a total of $143,080.02.
As of December 2022, there was discussion about changing the name of Hidrent; however, no changes have been made yet.
Lori and Robert have become one-third partners in Hidrent, although there was no confirmation by December 2022 regarding the closure of this deal.
The company announced a partnership with the International Association of Fire Fighters that will last until 2024, allowing them to connect with over 300,000 firefighters. As of December 2022, Hidrent’s annual revenue was approximately $1.4 million.
We will continue to follow Dave Heimbuch and his company for further updates.
What Is Hidrent Net Worth?
In Shark Tank, Hidrent sought a valuation of $3.7 million but ultimately signed a deal worth $937,000. The company is currently providing its services nationwide, making it increasingly accessible for senior citizens and single mothers.
Yes, Hidrent Inc is still in business as of December 2022.
