Lansdowne-based Forte3D $250,000 deal on “Shark Tank” is already translating into a noticeable uptick in sales one week after founder and CEO Alfred Goodrich appeared on the ABC reality series, writes Stephanie L. Arnold for Philadelphia Business Journal.
“I’d say we’re at least 20 times our weekly revenue,” Goodrich said. “We’re blowing it out.”
The sales jump is especially significant since the product they sell, bowed string instruments, isn’t an impulse buy.
Forte3D is the world’s first company to build bowed string instruments using patented 3D printing technology, combining carbon fiber and polymers with traditional wooden components, according to Goodrich.
A typical string instrument can be made in hours instead of months, at a fraction of the cost.
Fore3D instruments are used by several musicians in the Philadelphia Orchestra.
The “Shark Tank” deal provides $250,000 to the company in exchange for a 16 percent equity with “Shark Tank” investor Lori Greiner.
Goodrich, Forte3D co-founder Elijah Lee, and musical advisor Mike Block participated in the deal.
Greiner is known for having a high success rate with new launches.
“We knew a shark like Lori would just be a slam dunk because she’s a genius marketer.”
Read more about Forte3D and how it will use the $250,000 investment in the Philadelphia Business Journal.
