What Happened to Nerdit Now After Shark Tank?
What Is Nerdit Now?
Nerdit Now is a firm that buys, repairs, resells, donates, and/or recycles used technology such as desktop computers, laptops, phones, tablets, gaming consoles, and other devices.
With environmental stewardship in mind, the firm essentially functions as a technology recycling operation, either recycling or up cycling things that would otherwise end up in a landfill.
Nerdit Now was founded by Markevis Gideon. Markevis received a bachelor’s degree in accounting from Widener University.
He sought two fellowships after finishing his studies, one in policy and education and the other in leadership.
Who founded Nerdit Now?
Nerdit Now was established by Markevis Gideon. Markevis received a bachelor’s degree in accounting from Widener University.
Following graduation, he sought two fellowships, one in policy and education and the other in leadership.
Gideon’s fascination in technology persisted throughout his high school and college years. He studied accounting and computer science at Widener University in Delaware.
To supplement his income while college, he mended computers, sold textbooks online, and even dabbled in used car sales. He lived in China after college, where he ran a tavern.
When he returned to the United States in 2015, he created Nerdit Now. He was repairing computers, phones, and tablets when he realized he needed a store within a year.
He also needed help, so he enlisted the help of fellow Widener alums Voorhees and Hoxter to join him at the business. The University of Delaware awarded them a $9000 grant, and things took off from there.
They decided to buy an old ambulance and convert it into a mobile repair center. Customers may drop off their damaged gadgets for repair after negotiating a price at their retail store, where they also buy and sell old electronics, have a mobile unit, and a kiosk.
They have the option of picking it up at the kiosk, repairing it through the Nerdit Now smartphone app, or returning it to the store for repair.
What Happened to Nerdit Now at the Shark Tank pitch?
Gideon wants to open more kiosks in Wilmington, Delaware, as well as extend to Baltimore and Philadelphia in episode 15 of Season 11 of Nerdit Now on Shark Tank. He wants the Sharks to give him money to help him expand.
Jonathan, Markevis, and Jake entered the Shark Tank seeking $150,000 for a 20% stake in their firm, which worth $750,000.
They outline their business strategy and respond to the Sharks’ questions. The Sharks like what they’re doing and think the men are great, but the company ultimately needs too much “proximity” to flourish.
It is tough to rapidly scale a service business. The Sharks fear they were too early and begin to exit from the deal one by one. Finally, the three men exited the pitch without a deal.
What Happened to Nerdit Now After Shark Tank?
Despite the fact that they were unable to get a deal during the Shark Tank episode, the firm is still in operation, albeit with considerable obstacles during the Covid-19 clamp down.
They were unable to obtain PPP financing and are now in financial difficulty as a result. Jake Voorhees has left the business (amicably).
Fortunately, they are the state of Delaware’s first R2 IT equipment recyclers. They were also given $75,000 by Discovery Bank, $25,000 by Capital One, and $100,000 by Barclays to repair and gift computers to needy pupils.
They are growing the kiosk business by adding advertising displays; the advertising pays for 110 free repairs for low-income clients each month.
There are also plans to build a recycling center in Wilmington, as well as a downtown location for the Nerdit Now training program, which will begin in 2020.
The ultimate objective is to teach people how to run their own Nerdit Now enterprises. Gideon hopes to generate a big number of jobs in his area, and he plans to manufacture the kiosks there as well.
They seem to have weathered the Covid storm. As of November 20, 2021, the company has grown from three to seventeen employees.
They were ineligible for the second round of PPP funding because they made too much money! The yearly revenue of the corporation is $4 million.
Competitors of Nerdit Now
In the market, the firm competes with the following companies: Google Cloud Platform, WordPress.org, Sectigo, Gravity Forms, and jQuery.
Net Worth of Nerdit Now
During and after the pitch, the firm was valued at $750,000. Since then, the firm has done well in sales, with annual revenue of $4 million estimated in 2021.
Nerdit Now FAQs
How does Nerdit Now work?
The company repairs, recycles, or donates old electronic devices.
What are the advantages of having Nerdit Now?
There are so many advantages to having Nerdit Now. It is great for the environment and saves people money on the things they already have while helping them get a good deal on new technology.
How successful is Nerdit Now?
Nerdit Now has been successful thus far. They have earned $3 million since their launch in 2015, and they have been given grants by various banks and other institutions.
What are the products of Nerdit Now?
The firm sells computers, smartphones, tablets and other devices. They also repair devices of people who are in need of mobile device repair services.
What does Nerdit Now do?
The company repairs old devices in order to recycle them or to sell them.
What is Nerdit Now made of?
They are in a recycling center and repair the gadgets.
Are there any other operations of Nerdit Now?
The firm plans to soon open an office, as well as start a training program on how to run their business.
How does Nerdit Now make money?
Nerdit Now has been able to make money through donations and services for free. They have also been able to fund their growth by offering advertising displays in their kiosk locations.
Does Nerdit Now have affiliate program?
Nerdit Now does not have an affiliate program.
What is the business model of Nerdit Now?
The company first conducts diagnostics tests on the devices they receive, then they repair it, restore its original function, or recycle and dispose of it if it is beyond repair. Sometimes, the firm will also accept donations in return for a tax deduction.
What is the shipping cost of Nerdit Now?
The shipping cost of the products is $40, and the shipping period is 4–6 days.
Does Nerdit Now use WordPress?
The company does not use WordPress to power its website. The organization relies on a custom solution for its online store.
What is the mission of Nerdit Now?
The mission of the organization is to act as a social-impact company that reduces the electronic waste through repair and recycling.
Is Nerdit Now recycling?
Nerdit Now is recycling.