'Shark Tank' recap: Entrepreneur screens sharks for investment in his flexible window screens

On Sunday’s “Shark Tank,” a Pittsburgh native opened himself a window of opportunity, as the ABC show returned after a holiday break with a taste for warmer weather.

Joe Altieri is the creator of FlexScreen, a flexible, easy-to-install screen that simply pops into a window frame. Working over 20 years in the industry, Altieri came up with his invention while working in his garage.

“Everybody hates window screens,” he said. “They are next to impossible to install and remove. They block more of your view than you realize.”

Shark Kevin O’Leary cared less for Altieri’s background and more for his justification of the whopping $13.3 million valuation of his company. “OK Joe, I totally agree you’re the window guy. I’m sure everybody else up here thinks the same thing. But I’m an investor guy, and you’re asking me for $800,000 for 6%. Obviously we got to get sales. You better have some.”

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The fact that FlexScreen did $5.1 million last year in sales made O’Leary and the other sharks happy, but their joy quickly turned to horror when they realized Altieri only realized a profit of $40,000.

In the sharks’ opinion, Altieri’s revenue system was more than a little convoluted. He licensed four manufacturing plants to create the screens for $10, which he then sold to other manufacturers for $11.50.

“Wow,” all the sharks gasped in union. Shark Robert Herjavec clarified, “That wasn’t a, 'Wow, good.' ”

Shark Mark Cuban questioned Altieri's logic for why he couldn’t sell the screens for a higher margin – say $15 instead of $11.50. Altieri insisted the window manufacturers wouldn’t buy for a higher price, due to the size of the market.

“What you are saying?” Herjavec asked. “People are not willing to pay a premium?”

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Altieri disagreed with Cuban’s and Herjavec’s assessment that he should market his screens as a high end, more expensive product. He wanted to standardize the screens in the industry to maximize possible sales.

“We want to be the every-screen out there on these windows,” Altieri said. “Because in the next couple of years as it becomes the standard in the industry, I can charge whatever I want.”

O’Leary, who was skeptical of getting his money back, attempted to streamline Altieri’s business model. O’Leary suggested just licensing the product to manufacturers, allowing them to make it and reaping a royalty.

O’Leary offered him the $800,000 for 20% stake, contingent on this business model.

Shark Barbara Corcoran, who said she often replaced the screens on her beach house, was interested in the product but hated the company: “I think this is a huge profit maker. You just went down the wrong road to begin with.”

She offered him $400,000 in cash with an additional $400,000 in credit in exchange for 50% of the right to sell the product direct to consumers online and in retail stores.

Shark Lori Greiner loved both angles of selling to manufacturers and also to consumers. Her initial deal was $400,000 in cash and $400,000 as a loan for 10% equity of the company, but when she saw Altieri leaning toward Corcoran’s deal, she matched it.

“I do think you have the better connections in the hardware space,” Altieri said, deciding to make a deal with Greiner.

Corcoran swore and shook her head in defeat as her window closed. “That’s not only losing a deal, but watching somebody steal your idea and lose the deal.”

This article originally appeared on USA TODAY: 'Shark Tank': Entrepreneur screens investors for his flexible screens