Entrepreneur Erik Diedrichsen pitched his business, Riverbend Resources, on Shark Tank Season 16. His company creates easy-to-use feeders and waterers for backyard chicken owners and small farmers.
Riverbend Resources offers affordable and user-friendly products that help improve poultry care. The company sells the Poultry Pro Feeder, Poultry Pro Waterer, and various accessories, with prices starting at $29.95. These products feature an eco-friendly design, are waterproof, durable, and easy to install.
Erik initially asked the Sharks for $300K in exchange for 10% equity at a $3 million valuation. However, he secured a deal with Daymond John for $300K in exchange for 20% equity, bringing the company's valuation down to $1.5 million. Currently, the product is being sold on Amazon for $29.95, although several copycat versions are available at lower prices.
| Company Name | Riverbend Resources | |
| Founder | Erik Diedrichsen | |
| Founded | 2020 | |
| Product | feeders and waterers | |
| Asked For | $300K for 10% equity | |
| Final Deal | $300K for 20% equity | |
| Sharks | Daymond John | |
| Episode (Shark Tank USA) | S16 E13 | |
| Air Date | March 14th, 2025 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | West Bridgewater, Massachusetts, USA | |
| Lifetime Worth (Sales) | $3 Million *estimated | |
| Valuation | $3 Million | |
Who Is The Founder Of Riverbend Resources?
Riverbend Resources, a backyard chicken farm product company, was founded in 2020 by Erik Diedrichsen. Before starting this business, he ran a trade show business, but due to COVID-19, he lost it. After that, he launched a new venture called Poultry Pro Feeder, which is now known as Riverbend Resources.
The company has a small team of three members: Connor, who manages operations; Ayla, the social media manager; and General Gao, a chicken who serves as the “flock overlord” of their community.
How Was The Shark Tank Pitch Of Riverbend Resources?
Erik asked the Sharks for $300,000 in exchange for 10% equity in his company, Riverbend Resources, valuing it at $3 million. He demonstrated his product, the Poultry Pro Feeder and Waterer, explaining how it makes chicken farming easier for farm owners.
Robert Herjavec wanted to know about sales, so Erik revealed that his lifetime sales had reached $3 million, with over $1 million in revenue already generated in 2024. He expected to reach $2 million in sales by the end of the year, with a net profit margin of 25-40%.
Erik also mentioned that the product costs $5 to manufacture and retails for $30. He holds three design patents, but knockoff products have significantly impacted his sales. To counter this, he shifted his focus to retail.
After hearing about the knockoff issue, Lori Greiner said she wasn’t the right partner and opted out. Robert Herjavec felt he couldn’t add value to the business, so he also backed out. Mark Cuban agreed with Robert and decided not to invest. Kevin O’Leary stated that the business wasn’t investable for him.
With only one Shark left, Erik’s last hope was Daymond John. Daymond offered $300,000 for 25% equity, but Erik countered with 20%. After some consideration, Daymond accepted the offer.
Breakdown Sharks Offer
Note: Here’s a quick summary of the offers and counteroffers between the Sharks and Erik Diedrichsen:
| Sharks | Offers |
| Kevin O’Leary | No Offer |
| Daymond John | $300k for 25% equity |
| Mark Cuban | No Offer |
| Lori Greiner | No Offer |
| Robert Herjavec | No Offer |
| Founder’s (Countered) | $300k for 20% equity |
| Final Deals | $300k for 20% equity |
Riverbend Resources Shark Tank Update
Daymond has extensive knowledge of the retail space and has successfully helped many brands establish themselves in retail. In this business, the primary focus will be on entering the retail market to combat knockoff issues and strengthen brand marketing.
Currently, the product is available in major retail chains such as Lowe’s, TSC, North 40, D&B Supply, and many more. This expansion into retail is expected to boost sales and solidify the brand’s presence in the market.
As of March 2025, this product is being sold on Amazon for $29.95.
What Is Riverbend Resources Net Worth?
The global poultry feeder market is expected to reach $12.42 billion by 2033. Riverbend Resources last raised funding at a $1.5 million valuation. Based on its lifetime sales and annual growth rate, the company’s estimated net worth is around $1.7 million.
