What was your strategy for navigating “Shark Tank”? Take a look at the Q&A below: Q&A with TekDry’s Co-Founder Adam Cookson Despite saying their valuation was too high, Kevin O’Leary offered $500,000 as a loan at 13 percent to be paid back in 36 months, then dropping to five percent equity, which they accepted.Ĭookson spoke with Business 2 Community about TekDry’s experience on the show and what their next steps are.
While many sharks saw its potential, they worried about how they would make their money back or how technology advancements could potentially set them back. When co-founders Cookson and Beinecke originally appeared on “ Shark Tank,” they came in asking for $500,000 for five percent equity. They have both in-store locations, as well as a mail-in service for devices damaged within the last 24 hours. The water removal process can take as little as 30 minutes and will also restore any lost data. Small-device (flash drive, key fob, etc.) repair costs $39.99, while medium (smartphone, camera, etc.) and large devices (laptop, game system, etc.) cost $69.99 and $99.99, respectively. Their patented technology “uses a combination of low-pressure, controlled heat and proprietary beads to create a safe environment to remove 100% of the moisture from your wet device” and works better than sticking your phone in a bowl of rice, according to their website. TekDry offers a safer and faster solution to fixing wet phones. Season: Appeared on season 8 in the week three episode Founders: Adam Cookson and Craig Beinecke
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