Roy, a self-proclaimed ‘water nerd,’ saw the trouble brewing in Flint, Michigan, before the issue became a national story. A public health disaster began in 2014, prompting Roy to create Hydroviv to provide free filters to people in that community. This effort continues to this day. The company got its start as a charitable initiative.
Eric Roy seeks a partner for Hydroviv, his water filter company, in Shark Tank episode 1017. He wants to expand his army of water nerds and wants a Shark to join him on his journey. Will a Shark want to swim in this filtered water?
About Hydroviv
| Category | Details |
| Founder (Plural if multiple) | Eric Roy |
| Product Type | Custom water filters based on local water quality |
| Funding (Pre-Shark Tank) | Self Funded |
| Investment Asked | $400,000 |
| Equity Offered | 10% |
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What Happened on the Shark Tank Episode?
Eric enters seeking $400,000 for 10% of his company. He introduces his business and its background while handing out samples. What makes Hydroviv filters different from other filters is they are “optimized” for local water conditions. What this means is they adjust their filter media to account for specific contaminants in local water supplies.
For example, a filter sold in Houston, Texas, will have different filter media than a filter sold in Boston, Massachusetts. The company assesses water quality through publicly available federal, state and local water testing and quality reports.
When asked what he needs the money for, he says he wants to hire a full-time marketing person. Mark doesn’t like that answer and wonders what a marketing executive will do that Eric isn’t already doing.
One specific thing that went wrong in Eric’s pitch was that when Barbara said she was out, he kept going back to her, addressing her concerns. This made him appear a little desperate, as even when she clearly said she was out, he remained fixated on her.
Mark Cuban, in particular, felt slighted because he is known for his big ego. Mark felt ignored when Eric kept talking to Barbara. But somehow, just in time, Eric refocused on Mark and saved the deal.
Eric shares his experience on Shark Tank on a YouTube channel called Startup to Storefront.
What Makes Hydroviv Unique?
Hydroviv filters remove lead, chromium-6, arsenic, chlorine, and a whole host of other chemicals and contaminants. The filters leave behind “good” minerals like calcium, magnesium and potassium. Unlike popular reverse osmosis systems that are expensive to install and maintain, Hydroviv filters connect easily and use a blend of filter media to deal with specific, local contamination issues.
If you want to connect one of these filters to your kitchen sink, it’ll cost you $224.99. Replacement filters cost $65 or $55 if you sign up for their subscription service. Local water quality is re-assessed before filters ship to ensure they are up to date for local contaminants.
Did Hydroviv Get a Deal on Shark Tank?
In relatively fast-moving negotiations, Rohan Oza says reaching the target market is too tough, so he goes out. Lori goes out next, stating it’s “too early” for an investor. Barbara doesn’t like hearing entrepreneurs say they need help with sales and marketing – she finds those words “scary;” she’s out, too.
Mark, after listening for a while, has a change of heart and offers $400,000 for 20%. He says Eric is selling trust and he wants “to get you there.” Eric accepts the offer.
What Happened to Hydroviv After Shark Tank?
The deal with Mark never closed. Eric said “that the deal might not be the best thing for them.” As for Eric and Hydroviv, they experienced an uptick in sales after the original air date and he predicts his company will “smash” their sales projection of $1.7 million for the year. As of August, 2022, the company is still in business and has annual revenue of $2 million.
Where Can You Buy It?
Buy the product from the official Hydroviv website and enjoy the benefit of available offers and discounts. Also, check out their social media for the latest updates.
Quick Summary
- Eric Roy asks for $400,000 for 10% equity in Hydroviv, which creates custom water filters optimized for local water conditions.
- The Sharks express concerns about marketing needs, with Mark Cuban offering $400,000 for 20% equity, a deal Eric accepts but later decides not to pursue.
- Hydroviv saw a post-show sales surge, and as of August 2022, the company generated $2 million in annual revenue.
Also, read Hydroviv Water Filters – For Water Nerds Only for more information.
