What Is FlexScreen?
FlexScreen is a window screen replacement company known for its “world’s first and only flexible window screen” that is easily installed, removed, and cleaned.
FlexScreen’s FlexView screen provides maximum protection and minimum weight, reducing noise and vibration.
FlexScreens feature flexible spring-steel frames coated with PVC that are virtually unbreakable.
FlexScreen immediately resolves the issue of delicate frames associated with ordinary window screens.
The mesh is another area in which issues can occur. He created a mesh that can withstand higher pressure and lasts longer than normal screens.
A FlexScreen’s greatest strength is its ability to attach directly to the window frame without hardware.
You only need to bend the sides of the screen to fit it into the track. It conceals itself inside a pocket, allowing an open window to be ventilated optimally without letting pests in a while, simultaneously improving visibility out of the window.
|Product||Replacement window screens that are flexible|
|Investment Asking For||$800,000 For 6% equity in FlexScreen|
|Final Deal||$400,000 For 50% Of Retail Business + $400,000 Line Of Credit in FlexScreen|
|Episode||Season 11 Episode 10|
|Business Status||In Business|
Who Is The Founder Of FlexScreen?
Joe Altieri is the founder of FlexScreen. The FlexScreen was invented in Joe Altieri’s garage after identifying a market gap in the Window replacement industry.
A FlexScreen for all screens is $69.95, as seen on ‘Shark Tank.’
FlexScreen Before Shark Tank
The use of window screens dates back to the mid-1800s. Window screens are one of the most useful inventions ever made for the home.
People endured unbearable heat in their houses without screens before they invented screens.
If they had opened the windows, they would have been stung by wasps, flies, and mosquitoes and run the risk of getting diseases.
The value of screens has continued to grow since then. The frame has several flaws: bowed, corroded aluminum frames, fragile, easily broken mesh, herculean chores associated with installation and removal, and obstructed outside views.
Nonetheless, we considered this a small cost to pay to have fresh air enter our homes safely and comfortably.
Fortunately, Joe Altieri was not as receptive. He spent most of his time resolving screen-related issues for his customers as part of his work in the window industry for more than 15 years.
He could understand their annoyances. He began to ponder those all-important words for inventors: There has to be a better way!
Like many other inventors, Joe began working in his garage to discover a better way. After years of trial and error, he created the world’s first and only flexible window screen.
The flexible spring-steel PVC-coated frame is virtually unbreakable. To demonstrate, hurl it from the top of a five-story structure.
The mesh is resistant to tearing. No additional hardware is required for installation. Simply bend the screen’s sides and insert it into the track.
The screen conceals itself within a pocket, allowing you to obtain the freshest air possible through your open window (minus those annoying bugs) and a significantly superior vision.
Joe obtained the necessary patents, attracted investment partners, and founded FlexScreen.
He has followed the traditions of his father and grandfather, both great entrepreneurs who built healthy and cooperative teams.
How Was The Shark Tank Pitch Of FlexScreen?
Joe Alteri appeared on Shark Tank requesting an investment of $800,000 in exchange for a 6% stake in FlexScreen.
Joe Altieri, a window man, came up with the idea for Flexscreen while trying out new things in his garage.
He wanted a window that fitted perfectly into your window and had $400,000 in cash and a $400,000 line of credit to finance the purchase.
Lori Greiner offers to sell the screen to consumers for $500,000 in cash and $500,000 in equity.
After 20 years in the window business, he got tired of seeing bent, broken aluminum frames. Flexscreen is designed to utilize a unique frame that bends around windows.
The Flexscreen frame bends easily, so it fits over the windows without breaking them. It’s similar to a pop-up window. It allows you to pop the window in and out of it easily.
He obtained a patent, and the business is doing well, with sales surpassing the previous year’s total of $5.1 million.
At first, the sharks are amazed when they hear that someone invented an innovative product called Flexscreen. They are amazed when they discover that a window screen is only $1.50.
Joe explains to the Sharks that he sold 40,000 screens for $44,000 but only made $40,000 from those sales. He received $50,000 from selling the screen kits.
He earns only about $1.50 per screen sold because window manufacturers refuse to negotiate prices.
Joe claims that every single window screen is custom-made, and the sharks are very upset when they discover how much screen is custom-made.
Lori says that regular screen manufacturers can make screens that are designed to fit different window sizes, but Joe says that every window screen manufacturer designs their screens specifically to fit their windows.
Robert Herjavec has decided to withdraw from the bidding war. Robert Herjavec has no interest in earning money from window manufacturers.
He does not think that manufacturers will make more money selling this product. The woman running the company Barbara Corcoran likes the idea.
She offers Joe $400,000 in cash and a $400,000 line of credit for a 50% stake in the company. Kevin O’Leary offers to put up another 800,000 for a loan.
Barbara offers Joe 400,000 dollars in cash, and a $300,000 line of credit, in exchange for a 50% stake in the business.
Kevin offers another short-term loan worth 800,000 with a 91% interest rate and 8% equity.
She wants to buy a large chunk of the existing business, but she does not want to own anything in the business. She wants to start a company that would produce 12 standard sizes for each window.
Kevin makes a very different offer. He wants to get a deal with one of the biggest window manufacturers in the country to buy all the windows and sell the screens.
Kevin offers $800,000 as a 36-month loan to put some money down to buy more windows.
Kevin wants to get a major deal with the largest window manufacturer in the country in exchange for $800,000 and a 20% stake in the company.
However, it does not end at this. Many different groups will offer the same offer. The top three offer 800,000 in cash and $400,000 in a 30-month loan with 9% equity.
Lori offers to provide hardware to Windows companies. She’s interested in selling directly to the consumers.
Lori Greiner offers $400,000 in cash and $400,000 in a 36-month loan with 6% interest in exchange for a 10% equity stake in the business.
Kevin O’Leary changed his offer after hearing this. He is now willing to lend Kevin 800,000 in cash and 400,000 for a 36-month loan at 9% interest.
Kevin offers to give the company $800,000 in cash and a $400,000 loan with 9% interest and 6% equity.
But the bidding war has been chaotic. Mark Cuban, who has been forgotten, is dropped because he is not a big fan of window manufacturers.
Barbara tries to convince Joe to accept her offer and points out that her brother is in the window business.
Lori offered to buy back all that Barbara offered, $400,000 in cash and a $400,000 line of credit for a 50% interest in a new company that would sell window screens.
Lori offers Joe $400,000 cash and a $400,000 line of credit. Joe thinks Lori has more experience in the field, so he accepts her offer.
Joe Altieri left the Shark Tank stage, securing a deal from Lori Greiner for FlexScreen.
Final Deal: Deal Between Lori and FlexScreen of $400,000 For 50% Of Retail Business + $400,000 Line Of Credit.
What Happened To FlexScreen After Shark Tank?
Lori seems to have been a great partner for FlexScreen. They are going to expand into retail and manufacturing markets, and they have got a deal with a large window company to use these screens as a standard.
You can purchase FlexScreen at Home Depot and various other stores around the United States. They are sold on their manufacturer and consumer websites.
According to an episode from Season 12 of Flexscreen, the company will bring in $15 million in sales in 2020! The projected sales for 2021 are around twenty million dollars.
FlexScreen expects to generate around $20 million in sales as of 2022. Soon, flexscreen will be sold everywhere.
FlexScreen Shark Tank Update
Joe entered the Tank looking for an investment of $800,000 in exchange for a 6% stake.
He has sold over $5 million direct sales to window makers but has not yet licensed and offered FlexScreen at retail locations.
After appearing on Shark Tank, FlexScreen has been doing very well for itself. The company has successfully expanded its business and secured a new owner.
Joe and Lori completed a deal to acquire FlexScreen and began working on the company.
Shark Tank aired a segment on FlexScreen during its second season in 2016. Many people were forced to work and study from home because of the Covid-19 flu epidemic, meaning they spent more time at home than outside their homes.
FlexScreen received many orders from people wanting to improve their homes to better places for their families to live, work, and learn. Windows that open up to the outside of a house look great, too.
FlexScreen factories are working full-time to meet the growing demand.
The Flex Screen company generated revenue of $5 million in 2019, and the amount will increase to $15 million by 2020.
FlexScreen received a huge revenue increase and opened a manufacturing plant in Canada. This allowed FlexScreen to expand into new markets and become more well-known in the window industry.
Lori even entered a deal with window manufacturer Saint Gobain, which helped them expand their business internationally.
FlexScreen can now shop internationally and have a huge impact on increasing the company’s profits.
FlexScreen needed to hire more people as demand for its products grew. FlexScreen was already selling products at Lowe’s, Home Depot, and other major stores worldwide.
FlexScreen also opened a plant in Nashua, New Hampshire, working alongside Harvey Windows.
Joe and Lori have been expanding FlexScreen steadily, becoming one of the world’s leading window-screen manufacturers.
The FlexScreen application generated $20 million in revenue in 2021. FlexScreen has not announced its revenue forecast for 2022, but it is expected to hit $100 million by 2024.
FlexScreen will continue to grow as it tries to become the industry leader in the years to come.
Is FlexScreen Still In Business?
Joe claims that FlexScreen is working and still in business around the clock and hire at all of its factories to comply with orders following the January 2020 premiere of the Shark Tank episode.
There are currently FlexScreen operations in Georgia, Michigan, and South Dakota, but it plans to expand into Toronto, Canada.
In their local newspaper, Joe and Lori also announced that they plan to establish a retail operation to sell directly to consumers.
What Is the Net Worth of FlexScreen?
The valuation of FlexScreen was $13.33 million when it appeared on Shark Tank. The net worth of FlexScreen is above $15 million as of 2022.