Nerdit Now Net Worth 2024 – Interesting Facts, Social Media, & What’s Next

Nerdit Now Net Worth 2024 – Interesting Facts, Social Media, & What’s Next

Nerdit, the mobile device repair company that pitched on Shark Tank, has been on an impressive growth trajectory since its appearance on the show. Despite not securing a deal from the Sharks, Nerdit has continued to expand its operations and increase its revenue. In this blog post, we’ll take a closer look at Nerdit’s net worth, its founder, the Shark Tank pitch, and what has happened since the show.

Who is Nerdit?

Nerdit is a mobile device repair company that offers fast, convenient, and affordable repairs for smartphones, tablets, and laptops. Founded in 2015, the company aims to offer a superior substitute for traditional repair shops, notorious for their lengthy wait times and exorbitant prices. Nerdit’s unique selling proposition is its ability to come to the customer, either through its mobile repair van or its innovative repair kiosks.

Who is the founder of Nerdit?

Markevis Gideon, a skilled technician and entrepreneur with a passion for technology, founded Nerdit. Gideon started repairing computers and other devices as a teenager, and he continued to hone his skills while studying computer science and accounting at Widener University. After graduating, he spent some time in China before returning to the US to start Nerdit with co-founders Jake Voorhees and Jonathan Hoxter.

What was the outcome of Nerdit’s Shark Tank pitch?

Nerdit appeared on season 11 of Shark Tank, seeking $150,000 for a 20% stake in the company. Gideon, Voorhees, and Hoxter pitched their mobile repair business to the Sharks, highlighting their unique approach and growth potential. Despite the Sharks’ interest in the concept, they made no offers due to concerns about scalability and the company’s relatively low sales figures at the time.

Aspect	Details
Founders	Jonathan Hoxter, Markevis Gideon, Jake Voorhees
Business Type	Same-day and mobile electronic device repair
Shark Tank Ask	$150,000 for 20% equity
Shark Tank Result	No deal
Annual Revenue (2023)	Estimated $4.8 million
Business Expansion	Includes mail-in repairs, mobile repair ambulance (‘The Motherboard’), prototype repair kiosks
Social Initiative	The NERDiT Foundation: Donates computers, trains technicians in need
Additional Services	Retail store for buying/selling old electronics, tech donation program
Repair Pricing (Example)	Screen repair: $90, includes 6-month warranty, repairs done in front of the customer
Coverage	Mobile devices, tablets, computers, game systems
Customer Service	Online prompts for service selection, multiple repair methods available
Future Plans	Expand kiosk presence (Wilmington, DE area), consider Baltimore, Philadelphia
Customer Base	Busy individuals needing quick device repairs
Market Position	Dominant in mobile electronics repair, competitive pricing

Nerdit Shark Tank Update:

Following their appearance on Shark Tank, Nerdit continued to grow and expand its operations. The exposure from the show helped to increase brand awareness and attract new customers. While not securing a deal on the show was disappointing, the founders used the experience as motivation to prove the Sharks wrong and demonstrate the potential of their business model.

What happened to Nerdit after Shark Tank?

Since appearing on Shark Tank, Nerdit has focused on expanding its reach and refining its business model. The company has added more mobile repair vans to its fleet, allowing it to serve a wider area. It has also continued to develop its repair kiosk concept, which allows customers to drop off their devices for repair at convenient locations like shopping malls and office buildings.

Nerdit Net Worth:

As of 2023, Nerdit’s estimated annual revenue is around $4.8 million, a significant increase from the $74,000 reported during their Shark Tank appearance. While the company’s exact net worth is not publicly known, its consistent growth and expansion suggest a healthy financial position. The founders’ commitment to reinvesting profits into the business has allowed Nerdit to scale its operations and increase its market share.

Nerdit Growth and Operations:

Several factors, including its focus on customer convenience, competitive pricing, and quick turnaround times, have contributed to Nerdit’s growth. The company’s mobile repair vans and kiosks have proven to be a hit with customers who value fixing their devices without visiting a traditional repair shop. Nerdit has also expanded its services to include mail-in repairs, increasing its reach.

Nerdit Marketing and Sales:

Nerdit has employed a variety of marketing strategies to raise brand awareness and attract new customers. The company’s appearance on Shark Tank provided a significant boost to its visibility, and it has continued to leverage that exposure through social media and other channels. Nerdit has also partnered with local businesses and organizations to offer repair services to their employees and members.

Nerdit Social Media Presence:

Nerdit maintains an active presence on social media platforms like Facebook, Twitter, and Instagram. The company uses these channels to engage with customers, share repair tips and news about the latest devices, and promote its services. Nerdit’s social media following has grown steadily over the years, reflecting the company’s increasing popularity and customer base.

Nerdit Interesting Facts:

In addition to its core repair services, Nerdit has also established the NERDiT Foundation, a non-profit organization that donates refurbished computers and provides technical training to communities in need. To date, the foundation has donated over 7,000 computers to three countries and trained 85 technicians. Customers can support this initiative by donating their old tech devices to Nerdit’s locations.

What’s next for Nerdit?

Looking ahead, Nerdit intends to expand into new markets and further develop its repair kiosk concept. The company sees significant potential in partnering with retailers and other businesses to offer on-site repair services to their customers. Nerdit is also exploring the possibility of franchising its business model, which could help accelerate its growth even further.

Final Words:

Nerdit’s success story is a testament to the power of innovation, perseverance, and customer focus. Despite not securing a deal on Shark Tank, the company has continued to thrive and grow, thanks to its unique approach to mobile device repair and its commitment to providing fast, affordable, and convenient services to its customers. With a strong foundation and a clear vision for the future, Nerdit is well-positioned to continue its upward trajectory and cement its place as a leader in the device repair industry.