Mont Hanley has been truly in love with greenhouses, long before he started his company, Pittmoss. He even bought one when he was only 12 years old.
The latest Pittmoss net worth is $13,1K in a crowdfunding type with 14 investors. Mont Hanley promoted his business on Shark Tank, a popular ABC reality television series.
It was also his very first job right after he graduated from college. Below is an update of the company, including Pittmoss net worth and more.
What is Pittmoss?
Pittmoss is the manufacturer of sphagnum peat moss substitute. The product is manufactured to provide gardening amendments and mixes for commercial growth.
The product is made from the mixture of recycled paper and organic additives. This is why people consider Pittmoss to be environmentally friendly.
Pittmoss has a purpose of providing home gardeners and commercial farmers a sustainable alternative that is made from recycled materials. Then, it results in stronger, bigger plants.
The founder of Pittmoss, Mont Hanley, got his first job at a local nursery. There, he was interested in the environment and concerned about peat moss.
Mont Hanley read an article in Sierra magazine that deeply discussed the harsh effects of peat moss on the environment.
He made his first batch of Pittmoss by using a food processor, trying to make his recipe perfect. Then he decided to quit his job, liquidated his retirement fund, and totally started and ran the business.
Pittmoss on Shark Tank
Mont Hanley began his segment on Shark Tank with an audition tape for Pittmoss. Then, he showed his storefront in Pittsburgh, Pennsylvania.
He introduced his product as a substitute for peat moss, which is a helpful additive for plants to hold water and grow quicker.
It is used in greenhouses and nurseries. After that, Mont Hanley told the audience how not environmentally friendly peat moss is.
He then introduced Pittmoss to the audiences as a sustainable, more environmentally friendly replacement for peat moss.
After his segment, Mont Hanley walked onto the stage and introduced himself to the Sharks. Hanley told the Sharks that he was from Pittsburgh and Mark Cuban, the television series’ investor, laughed in recognition.
Then, Mont Hanley told the Sharks that he was about to offer them 25 percent equity in exchange for an investment worth $600,000.
He explained to the audiences that Pittmoss will help the Earth greener and fight against global warming.
Mont stated that Mark Cuban signed the final investment deal for Pittmoss. Mark Cuban joined up with Pittsburgh investors for $1.5 million.
It seems that Mark Cuban decided to invest in Pittmoss because he wants to deliver his dedication for his hometown, Pittsburgh. Since then, Pittmoss keeps gaining customers and has a backlog of $600,000 in orders.
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Pittmoss is a business focusing on nurseries and greenhouses. The founder of the business is Mont Hanley, who has been a true fan of greenhouses since he was just 12 years old.
The product became known since it appeared on Shark Tank and Mark Cuban invested in the business that raises Pittmoss net worth.