TekDry on Shark Tank
Water Removal for Tech Device - Episode 804 - October 7, 2016
|TekDry Wet Phone Repair|
Shark Tank in Episode 804
The entrepreneurs representing the TekDry on Shark Tank Episode 804 is Craig Beinecke and Adam Cookson. Developing and marketing this high-tech water removal system came with a set of new challenges never before seen on the Shark Tank Show. For starters, each TekDry drying machine costs several thousands of dollars and requires a tech-savvy employee to run the machine. It's also not a product that would stand on its own but requires being integrated into existing storefronts to make this new water removal service profitable.
The challenges bringing this brand new product/ service to market must have been a monumental feat requiring a small fortune in start-up capital. Fortunately for this soon-to-be Shark Tank product, TekDry has an extremely high success rate and had little problems raising $2.3 million from early investors since 2014. As far as partnering with a large store where the DryTek dryers are located, Beinecke and Cookson secured a national deal with Staples. Even before appearing on the Shark Tank Show, the TekDry water removal system's already available in 82 Staple stores across the country. The next time you drop your smartphone in the toilet or spill a cup of coffee on the computer, just go to Staples and they'll dry it out as good as new.
Will the Shark Tank Investors invest in the TekDry wet phone repairs machines in Episode 804? Considering the earlier valuations helping raise $2.3 million within the past two years, and already a nation-wide deal with Staples, the Sharks won't be getting into the high-tech water removal business without a significant investment.
Watch the DryTek on Shark Tank Episode 804 next Friday night, October 7, 2016, and see if the Sharks invest in the high-tech drying machines of the future. The biggest "long-term" drawback is, of course, as high-tech gadgets continue to evolve, the protective cases will become more waterproof eliminating this problem altogether.