|
PittMoss Net Worth |
$4.5 million |
|
Company Type |
Manufacturing Company |
|
Founder |
Mont Handley |
|
Year Founded |
1994 |
|
Country |
United States of America |
|
Company Headquarters |
Pennsylvania, United Staes of America |
PittMoss is an all-natural, sustainable, environmentally friendly growing medium made from recycled materials. It’s an excellent option for gardeners who are looking for an alternative to peat moss, which is often harvested from bogs, resulting in their depletion.
As a trusted company, PittMoss net worth has grown to $4.5 million as of 2023.
PittMoss can be used to grow vegetables, flowers, and herbs, and it’s easy to use – mix it with soil or other growing media. Plus, it’s affordable and long-lasting. If you’re looking for a way to reduce your environmental impact while gardening, consider using PittMoss.
PittMoss is a revolutionary product made from organic products and recycled papers; its peat-free potting mixes are great for indoor and outdoor plants. Pitt moss also produces animal breeding, which is very different from other beddings available on the market.
PittMoss Net Worth
Due to the successful sale of environment-friendly products that comes from the stable of this company, it was reported that PittMoss net worth was $4.5 million as of 2023.
Products of the Company
The company has various products, including organic potting, coconut coir, peat-reduced, and many other potting mixes. At the same time, they also have animal bedding, including small pet bedding, poultry bedding, and Horse bedding.
Founding of the Company
In 1994, Mont Handley, founder of PittMoss, initially developed the concept of a peat moss substitute. While he was still employed at the nearby nursery, it initially began as a straightforward kitchen experiment.
He has dedicated his next 20 years of life to researching and experimenting with environmentally friendly products, free from bugs and pesticides and requiring less water.
He learned about a number of problems associated with the typical peat moss on the job, including the damage it was causing to the environment. He then began a lengthy initiative to address the problem as a result. His hard work finally paid off, and he developed PittMoss in 2011.
About the Founder
The founder, inventor, and current chief executive officer of PittMoss is Mont Handley. He was born and raised in Chicago, Illinois. He graduated with a degree in B. A, History from Purdue University.
He once volunteered in the USA army as a clerk and policeman and now works as an Associate Director at, Commercialization and Manufacturing Excellence Center (CMEC) at Purdue university.
He is also a founder, inventor, and managing member at poT plugs Development company since 2017. He first worked as a grant writer and environmental interpreter for the parks department in this Lake Michigan beachfront community.
PittMoss Shark Tank Deal
The President and CEO of PittMoss, Mont Handley, appeared on ABC’s Shark Tank on April 17, 2015, and introduced his environmentally friendly products made from recycled papers that don’t threaten the habitats.
Mont Handley entered Shark Tank because he was facing issues in increasing revenue and needed a hefty amount to fix its production problems. He addressed the benefits of PittMoss at Shark Tank and asked for $600,000 for 25% equity.
The Sharks were initially impressed by his products because they were 25% cheaper than peat moss and were also free from contaminants. Yet they found some issues in his business strategy. Plus, his sales were too low.
Despite that, Kevin O’Leary offered him $600,000 for a 40% stake in the company, and Mont countered with a 30% stake. Kevin O’Leary, Mark Cuban, and Robert Herjavec then teamed up to offer him $600,000 of 35 % equity which Mont Handley agreed upon.
What Happened to PittMoss After Shark Tank Deal?
Mark Handley faced some production challenges soon after the deal was done with Shark Tank and stepped down from the designation of CEO of PittMoss. Brian Scott replaced him as the new chief executive officer, but he is still a member of the board of PittMoss.
Since the replacement of the chief executive officer, the company has rapidly grown; they announced that they are spreading their business internationally and opening a factory in Lebanon. The company also announced that it would be opening around eight to ten factories in the United States of America.
In March 2021, the company raised $1.2 million from different investors, including Blue Tree, Allied Angels, Innovation Works, Idea Foundation, and an unknown Super Angel investor from Texas. The company has also introduced animal bedding and putting soil products, which has been a successful launch.
PittMoss net worth has grown in leap and bound since the period.