Tek Dry

machine to dry out water-damaged electronic devices

Tek DryDealTechnologyWebsiteDenver, COby Adam Cookson and Craig BeineckeS8E3

Pitch Details

Season / Episode

S8E3

Oct 7, 2016

Ask

$500,000

for 5%

Ask Valuation

$10M

Deal

$500,000

for 5%

Watch the Pitch

Deal Terms

Amount$500,000
Equity5%
Valuation$10M
Loan$500,000
Kevin O'LearyKevin O'Leary

What Happened Next

Operating
0
  • The deal with Kevin closed and he is listed as a minority investor on the company's balance sheets.
  • In July, 2019, they raised $3 million in a venture round and in March, 2020 they secured $1.5 million in financing.
  • As of June, 2022, the company has machines in over 600 Staples stores. Revenues are around $1 million annually.
  • In June, 2023, it appears the service is only available in 2 locations: Marathon, Florida and Kahului, Hawaii.
  • In an April, 2024 check in, the website is down but the service is still listed on the Staples website.

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