Most people use duct tape or glue when anything breaks. It can be a damaged piece of furniture, a leaky pipe, or a cracked tool handle. But these quick solutions are frequently only temporary, and if the repair doesn’t last you may become disappointed. After noticing this prevalent issue, Eric and Spencer came up with a better solution.
The entrepreneurs created a repairing product called Fiber Fix as a solution to this problem. Fiber Fix is 100 times more durable than duct tape. Their intention was to offer a more dependable, long-lasting fix for common maintenance. Fiber fix is made to tackle difficult tasks, enabling nearly anything to be fixed with just a simple wrap.
Eric and Spencer presented their invention on Shark Tank seeking $90,000 in exchange for 10% equity. They showcased the robustness and adaptability of the tape, hoping to get a deal. The deal will enable them to grow their business and consumer base.
fiber fix Net Worth Shark Tank Update 2025
Spencer Quinn and Eric Child went on Shark Tank asking for $90,000 for 10 % of their company. This meant they thought their business was worth $900,000. They made a deal with Lori Greiner for $120,000 for 12 %, raising the valuation to $1,000,000. The episode was aired on October 25, 2013. The industrial repair-tape brand became a major retail success and was later acquired by J-B Weld in 2018. The brand is still sold as FiberWeld, but the original company’s current net worth is $0 in 2025.
After its appearance on the Shark Tank, FiberFix saw rapid expansion. The show’s publicity increased sales. FiberFix reached $50 million in retail sales, which showed that consumers needed a dependable repair solution. After five years of Shark Tank, Strong adhesive manufacturer JB Weld purchased FiberFix.
Through this transaction, FiberFix could further expand its reach by utilizing JB Weld’s distribution network and expertise. FiberFix is still a well-liked product in 2024 and is available in over 10,000 locations globally. The company is still going strong, providing a variety of repair options to satisfy customers searching for long-lasting and efficient solutions.
Yes, FiberFix could get a deal on Shark Tank with Lori Greiner of $120,000 for 12% equity. In the beginning, they took Lori Greiner’s offer, which was $250,000 for 18% equity. However, after some discussions, Lori accepted Spencer and Eric’s counteroffer of $120,000 for 12% equity. This partnership allowed FiberFix to build on Lori’s experience and connections, especially with her knowledge of QVC sales. QVC sales were a crucial aspect of FiberFix’s growth strategy.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Lori Greiner | $250k for 18% equity$120k for 12% equity | $120k for 12% equity + $2 million credit line | Yes |
| Robert Herjavec | 1# $90k for 10% equity 2# $90k for 10% equity + 250k credit line | N/A | No |
| Kevin O’Leary | $90k for 70 cents per unit royalty, which drops to 20 cents when $90k recouped | N/A | No |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Fiber Fix Shark Tank Pitch
Eric Child and Spencer Quinn saw a need in the market for a solid, long-lasting repair solution, which motivated them to develop a fiber fix. They discovered duct tape frequently broke down under pressure. It was frequently used for repairs, especially in heavier-duty applications. They looked into materials that might provide a significantly stronger binding.
Before making fiber fixes, they experimented with a variety of industrial materials. The tape is composed of industrial-grade fibers and resin that can withstand the most demanding tasks. They had to make sure their tape could live up to the high criteria they set for strength and durability.
During their shark tank pitch, Eric and Spencer claimed Fiber fix as a ground-breaking invention that might outperform duct tape in every manner. They showed its strength and functionality by wrapping the tape around a variety of broken things and how easily it could restore them to full performance.
Fiber fix was created for both professionals and homeowners who required a dependable repair solution. They mentioned their recent sales of $100,000, which shows the product’s market potential. They requested $90,000 in exchange for 10% interest in their business. The presentation and their clear explanation of the product’s advantages impressed the Sharks.
Kevin O’Leary inquired about the sales strategy and expenses. Eric clarified that they have shown significant demand by generating $100,000 in sales in a few months. The product fascinated Kevin but concerned about the profitability in the long run.
Robert Herjavec questioned if there was a market for this kind of device. Robert became convinced by Spencer’s explanation of the potential market size. He said that the Fiber fix is used for a broad range of applications, which include anything from plumbing to vehicle maintenance.
Robert also asked about the prices. They replied the product came in three different sizes. The four-inch cost $9.99, the two-inch cost $7.99, and the one-inch cost $5.
Lori Greiner was interested in learning how the product performed in retail establishments and on QVC. Spencer talked about their recent success with a test order from QVC, showing the high level of customer interest.
Daymond John Questioned about any disagreements with other retail agreements, such as with HSN. This disagreement caused him to decline an offer.
Mark Cuban chose not to take part because he had doubts about the product’s sustainable future and the valuation.
Mark asked about the manufacturing cost. They replied it costs less than $2 and wholesale it to $4.
Kevin O’Leary Considered the product’s potential, but he was looking for a solution that would allow him to continue making money without having to give up any equity. He offered them $90k for 70 cents per unit royalty, which drops to 20 cents when $90k is recouped. The founders rejected his offer since they were not ready for such conditions.
Robert Herjavec was first interested and made a straightforward offer of equity $90k for 10% equity and then $90k for 10% equity + 250k credit line. The Entrepreneurs rejected both of the offers.
Lori Greiner loved the product and wanted to make a deal, especially because of its background on QVC. She offered $250k for 18% equity and then $120k for 12% equity. In the end; the business accepted her second offer.
Daymond John decided not to invest because of a conflict with his existing HSN contract.
Mark Cuban also decided not to invest because he had doubts about the products’ long-term sustainability.
Product Availability
Fiber Fix can be purchased via the JB Weld website Fiber Fix, Amazon, and several retail locations worldwide. Both professional people and normal people providing accessibility for a wide variety of customers use it. Its price range delivers value for its excellent quality and effectiveness.
Conclusion
The Shark Tank journey of the Fiber fix proved the worth of creativity and the necessity of having a solid, well-defined market plan. After proving the robustness and adaptability of their solution, Eric Child and Spencer Quinn could close a deal with Lori Greiner. They could grow their firm greatly by accepting Lori’s offer. This deal resulted in millions of dollars in retail sales and a successful purchase by JB Weld.
Fiber Fix’s participation in Shark Tank was only the start of its success story because the company is still a popular option for customers searching for dependable repair solutions. Under the direction of JB Weld, they will undoubtedly continue to grow and develop, therefore, it will be interesting to watch what new goods and technologies they might develop.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
