Nerdit Now Update | Shark Tank Season 11
Fast, easy device repair is difficult to find, even in the device-saturated world we live in today. Jonathan Hoxter, Markevis Gideon, and Jake Voorhees saw an opportunity to put their skills to work in a niche market, so they created a fast and convenient repair service, Nerdit Now. But how did the company do during its
Shark Tank Nerdit Now Update
- Entrepreneur: Jonathan Hoxter, Markevis Gideon, and Jake Voorhees
- Business: Same-day and mobile electronic device repair
- Ask: $150,000 for 20% equity
- Result: No deal
- Shark: None
Nerdit Now started as a small device repair service in a two-bedroom apartment. The entrepreneurial team behind the idea decided to offer more options and grow the business to a national brand.
Besides their brick-and-mortar store, they have ‘The Motherboard,” a mobile device repair ambulance. They take this truck to food truck circles, making it easy for customers to drop off their devices while they eat.
Plus, they recently began a prototype phase for a repair kiosk. Customers would drop off their devices, and they would be repaired within six hours. The same-day service model was intriguing to the sharks.
Unfortunately, the company only earned about $175,000 in sales during its first year. That’s respectable, but it doesn’t stack up to how much it could be making. Mark Cuban dropped out first, stating that scaling would be a problem for the company. Similarly, Lori Greiner thought they should be in more places, and make it easier for people to find them. Mark and Lori agreed that Nerdit Now was not investable right now.
The rest of the sharks soon followed, agreeing that they need a better growth plan and more return on ‘The Motherboard’ ambulances. Matt Higgens, the guest shark, believed they had a good thing going, but it was too early to look for investments.
Unfortunately, Nerdit Now walked away from
Despite some challenges, it looks like Nerdit Now is doing well. Our Nerdit Now update discovered that the company founded The NERDiT foundation, which helps to donate computers and install technicians in countries and communities in need. According to its website, they’ve donated over 7,000 computers to three countries and helped train 85 technicians.
They’ve also expanded their model to include contactless mail-in repairs. Some sources report that their annual revenue is now up to $4 million, but we haven’t been able to confirm that. However, despite not getting a deal on
Curious about the other companies featured on Season 11 Episode 5? Check out our company updates below:
Before you go, make sure to take a look at our Season 11 products page for more company updates from Season 11.
