Shark Tank, also known as Shark, provides entrepreneurs around the world with equal opportunities to expand their business. They came from all over the world and showed their business model to a group of investors commonly referred to as Sharks. Hope that some investors can be interested and invest their money to realize their dreams. It helped them in some way. In the 24th episode of Shark Tank’s 6th season, PitMoss was introduced to Shark Tank, also known as Sharks investor. The founder of PitMoss Mont Handley, with his unstoppable enthusiasm for this idea for more than 20 years, satisfied all three “sharks” to invest in his company.
After successfully marketing his business to Sharks, Monte Handley became a celebrity. He is able to manage enough net assets to allow his business to grow on a global scale.
Whether it’s a drama or a transaction, the screen and off-screen are completely different. According to a report, about 73% of the 237 entrepreneurs of the Winners of Creative Intelligence did not actually get the deal they made when they first sold it to investors. This is sad, but it is a painful fact. When the show was first broadcast on live TV, it was often discussed. Because of this, many transactions failed even after obtaining Shark’s investment quotations. “PitMoss” is one of them. The report also revealed that 43% of reality show participants said that their transaction had not been completed after the show ended. But as the show provides business owners with indirect publicity for the ideas and the people who promote them. There may be only one door closed, but at the same time, a few doors are open for them.
PitMoss in front of the shark tank
Before starting to PitMoss, Mont Hanley really liked the greenhouse. He even bought a kid with big dreams when he was 12 years old. This was his first job after graduating from college. Mont’s first job in a local nursery, where Mont became interested in the concept of the environment and the source of peat moss. He was so interested in this concept that he read the entire article in Sierra magazine, which detailed the serious environmental impact of sphagnum moss. Monte created his own first batch of PitMoss in a food processor, perfecting his actual recipe. He eventually quit his job to pursue his dream, liquidated his retirement fund, and plunged into the business world.
On the shark tank
PitMoss is a well-known environmentally friendly potting soil company that has attracted the attention of sharks and hopes to increase its current net assets by raising up to $500,000 in crowdsourcing funds before November 1.
This is a Pittsburgh-based company founded by Mont Handley. As early as 2014, it won the hearts of several sharks such as Mark Cuban, Kevin O’Leary and Robert Herjavec. It has raised approximately US$4.45 million so far. The main sources of funds are Cuba and several other angel investment groups.
PitMoss net worth
As of September 1, 2021, the new PitMoss crowdfunding campaign has raised up to $379,011 from approximately 2,019 investors. For any business, this is a good number. In Form C filed with the US Securities and Exchange Commission on August 31 this year, PitMoss reported that a company’s total assets in 2020 are approximately US$897,291, and short-term and long-term debts are US$344,574. This makes PitMoss’ net assets approximately US$552,717. . So far, PitMoss is carrying out its equity crowdfunding activities through Republic. Last year, the company raised $237,107 through a similar event with Republic.
The company has grown very fast, exceeding the expectations of its founders and investors. If it continues to grow at the same rate for several years, it may become one of the best companies in the field.
How did PitMoss start?
The founder of PitMoss Mont Handley began a kitchen experiment in 1994 that used recycled paper to make potting soil.
After spending 20 years perfecting the formula, Mont Handley recommended PitMoss to Shark Tank to obtain some funds to help the company develop further.
The three major sharks, Mark Cuban, O’Leary and Herjavec, jointly invested $600,000 to purchase 35% of the company’s shares.
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