Inboard Technology is a Santa Cruz, California based company that manufactures high-performance, lightweight transportation solutions.
With order volume increasing dramatically worldwide, Inboard is focused on ramping manufacturing and customer support through 2017 and expanding to retailers worldwide.
#Inboard on shark tank series
Inboard is starting their series A funding round. Special: Facebook Live Q&A hosted by Guy Kawasaki What: Inboard Technology on ABC's "Shark Tank" We're not only changing the industry of electric skateboards but we're leading the movement towards low cost, energy efficient transportation." People fall in love with the M1 Electric Skateboard the moment they see it and won't let it go the second they ride it. "Since launching our company with a Kickstarter campaign that raised just under $500,000, our company has continued to exceed expectations and appearing on a hit show like "Shark Tank" is another unbelievable milestone for our team and our customers. "We are thrilled to have been selected to participate on "Shark Tank"," said Ryan Evans, Inboard Technology CEO. "Shark Tank" attracts millions of viewers each episode. This is the first prime time viewing of an electric skateboard on a major US television network. Inboard Technology will be pitching their flagship product, the M1™ Electric Skateboard. On Friday, December 2nd, 2016 watch and find out what happens when Ryan Evans (CEO), Dave Evans (VP of Marketing), and Chris Haley (CFO) go head to head with the most famous entrepreneurs in the world.
Inboard Technology decided to sell off its intellectual property and assets in November 2019, after a pivot into the electric scooter market failed.įor more updates from Shark Tank Season 8 Episode 10, be sure to check out:įor more on Shark Tank Season 8, be sure to check out our Season 8 products page.SANTA CRUZ, CA -(Marketwired - December 01, 2016) - Every entrepreneur dreams about pitching their business idea to the Sharks, Mark Cuban, Robert Herjavec, Kevin O'Leary, Lori Greiner, and Chris Sacca, on ABC Television's award winning hit show "Shark Tank". It seems that the company has since closed down. With a huge influx of cash insured, you’d think that we’d have good news in our Inboard Technology update, but you’d be wrong. The trio countered with 3% equity and eventually meet in the middle at 4% with a 9% interest rate on the $750,000 loan. Instead of their original offers, they were now offering the $750,000 as a loan for 8% interest and 5% equity. 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. Ryan Evans, David Evans, and Chris Harley scored big in Shark Tank Season 8.
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