LINKA Shark Tank Pitch
Mohamed knows what it is like to walk out after work and find his bicycle stolen. He created LINKA to solve this problem. The LINKA lock automatically locks for you, and an alarm goes off when your bike is picked up. The lock makes it very difficult to remove.
Additionally, the lock sends a notification that your someone is tampering with your bicycle. They have a chain that pairs with LINKA lock. The chain is mounted on to the frame. LINKA is $129 without the chain and $159 with the chain.
LINKA ran a kickstarter campaign and raised five times the amount he was seeking. He raised $130,000 and has $40,000 in sales.
Mohamed attended the City College of New York and finished his degree in Mechanical Engineering. His parents immigrated from Egypt to make the his life better, and he can't repay them enough.
LINKA recognizes your presence and automatically unlocks for you. He is going to Amsterdam where he has over forty meetings to pitch the lock. Amsterdam is the bicycle capital of the world.
LINKA Episode Data
- Company: LINKA – Website
- Entrepreneur: Mohamed Mohamed
- Ask: $250,000 for 10% equity
- Episode Season 7 Episode 720
- Companies in this episode:
- First Aired: 02/26/2016
What do the Shark Tank Investors say about LINKA?
- Mark Cuban – doesn't doubt his preparation and the need for the product. The issue is the competition. That's why he has to go to Amsterdam, if it was an easy sale, he would have his hands full in the Shark Tank. Mark is out.
- Barbara Corcoran – thinks that not using the chain entices thieves to still the bike. The alarm is not enough, she is out.
- Kevin O'Leary – sees better mousetraps in Shark Tank all the time, and the valuation is high, and he is not excited about the product category.
- Lori Greiner – likes the invention and it needs to a louder alarm. The noise would have been white noise for her. She is out.
- Robert Herjavec – thinks in larger cities you are looking for a deterrent and it is a quick thing. He had his house broke into and the police said buy a dog to be a deterrent. He is out.