By the time they were back, the two sharks had decided to team up. The trio then decided to step out of the tank for a minute to discuss the offers. Wonderful and offered the same terms as Kevin but with a 3% equity ask. After hearing this, Lori decided to compete with Mr. However, before she could make an offer, O’Leary warned her that he’d raise his equity if she went out. The other remaining shark, Lori Greiner found the product interesting. Eventually, Mark and Chris dropped out as well. Following Kevin’s offer, Robert Herjavec went out after saying that he didn’t believe in the product’s mass transportation play. The first to do so was Kevin O’Leary, who offered them $750,000 as a loan at an 8% interest rate for 2.5% equity. Neither of the two would end up making an offer. Whereas Chris saw potential in Inboard Technology, Mark Cuban found it difficult to scale despite the business already having $5.6 million in pre-orders. Guest shark Chris Sacca was one of the first to praise Inboard Technology’s product, saying he saw electric scooters and skateboards as a potential transportation alternative. Result: $750,000 loan at 9% interest + 4% equityįollowing a successful Kickstarter campaign, Ryan, David, and Chris decided to try their luck in the Shark Tank.Business: Electric skateboards and scooters.Entrepreneur: Ryan Evans, David Evans, and Chris Harley.By the end of their pitch, they walked away with a deal with Lori Greiner and Kevin O’Leary for a $750,000 loan at 9% interest for 4% equity, which should make you curious for an Inboard Technology update. They came in asking for $750,000 for 4% of their company, Inboard Technology. I wouldn’t be surprised to see Sacca team up with either of those Sharks on a deal with Inboard.Ryan Evans, David Evans, and Chris Harley scored big in Shark Tank Season 8. Robert might have a conflict with Hamboards, too. Any one of the Sharks could make a bid – Lori is the only exception since she likes lower ticket items. If a Shark gets a good slice of the pie, there will be interest. The deal is made or broken with the valuation and their strategy going forward. They have patents, sales, AND proof of concept, so that isn’t a hurdle they need to jump. Inboard is an interesting company it’s part technology, part cool. Successful Kickstarter products always have a shot in the Tank, especially when an early investor in Kickstarter is on the panel. My 12-year-old proclaimed it “AWESOME!” For that reason, I’m in. I know my kids, both the adult children and the young one, would LOVE to have one. Similar products are selling well, including the oft criticized hover board. That said, urban dwellers wants cheap transportation. My son recently bought a car for a hundred bucks more than the M1! I am not a customer, but my kids could be.
I NEVER get on them, I haven’t skateboarded since the early 1980’s and I wasn’t that good at it then. The youngest has two: a regular board and a longboard. This company needs funds to keep production moving, but can a Shark ride a skateboard? My Take on the M1 by InboardĪll my kids all have skateboards. Motorized skateboards, skates, and all other forms of easily used transportation are all the rage on campuses and in cities where millennials are shunning cars for cheaper, greener transportation. The M1 is the latest in personal transportation. Their current challenge is keeping production in line with demand. It comes with a hefty $1399 price tag, but the skating community is buying them up like hotcakes. They raised nearly half a million bucks on Kickstarter to get the business off the ground and they are currently shipping their product. Riders control the speed, when under power, with a hand-held remote or through a smart phone app. The motor is so small, if you didn’t know it was an electric skateboard, you’d think it was a “normal” skateboard.
The technology of the Manta Drive gives riders a 7-10 mile range per charge. The internal “Manta Drive” powers the rear wheels directly, creating the smoothest electric skateboard ride out there.
Ryan Evans, Dave Evans, and Chris Haley of Inboard Technology get some Sharks to take a ride on their M1 Electric Skateboard when they pitch their business in Shark Tank episode 807.
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