If you’re wondering if FiberFix will be around in 2020, you’ve come to the right place. The company was recently acquired by J-B Weld. In the three months since it was chosen by Shark Tank, the company has increased its value by over 100 million dollars. The company was initially valued at $300,000, but it now sells for more than 90 million dollars. During its pitch on the show, it even surpassed duct tape, which was worth about $100000, but had a limited shelf life.
While it may sound like a gimmicky investment, FiberFix’s net worth is projected to rise significantly in the next few years. The company has already sold two million units and raised $13 million, making it one of the fastest-growing start-ups in history. In addition to retail, FiberFix is also available online. The product costs $4.95 for a two-pack on the company website and $2.99 on Amazon. However, FiberFix has also sold at other retailers for twenty-five to thirty percent more per unit.
The company has sold over a hundred thousand units in the last couple of months, making its net worth look incredibly impressive. As with any startup, the company has a long way to go before it can be deemed profitable. While it might seem impossible to have a high valuation in such a short period of time, there are some steps that will make it a viable business. The company’s success is also a testament to its unique idea.
In the last seven years, Lori Greiner and her team have built a wildly successful business. Their product, FiberFix Repair Wrap, has sold over 40 million rolls in retail and is available at Starbucks nationwide. It has also been distributed at over sixteen thousand retail locations. The company’s product is a 100-percent stronger alternative to duct tape, which is the standard in the home repair market. Despite the fact that FiberFix is a simple repair wrap, its founders have already received numerous offers to sell the product on QVC and in Amazon.
During the Shark Tank, Eric Carter and Mark Carter explained how FiberFix works and why it’s a unique product. They believe it’s worth more than Roberts’ valuation, and they have sold over 100 thousand units in a few months. The company has a great product that can be used indoors or outdoors and can be used for a variety of repair jobs. If this were sold to more people, the company would be worth more than $300 million.
Unlike duct tape, FiberFix can be used on almost anything and is waterproof. It can repair everything from leaky pipes to broken bicycles. Because it’s so versatile, it can be made at home with the help of everyday items. And it’s easy to use. In fact, the company’s founders, Spencer Quinn and Eric Child, have been pitching the product for investors on Shark Tank since 2015.