Shark Wheel Shark Tank Pitch
Shark Wheel is a new invention from David Patrick and Zack Fleishman. Their wheel is actually a cube that optimizes speed and stability. They have improved the wheel by applying principals that allow for speed and stability. They used a mathematical design based on a cube that rolls better than a traditional wheel.
Their current focus is on Skateboard wheels. They are selling these wheels worldwide. They have stroller and wagon wheels. The skateboard wheels are the only wheels that are production wheels. The wheels on the wagon and stroller are prototype wheels.
The geometery of the wheel feels like a skinny wheel, and has the stability of a larger wheel. Rocks spin off instead of wrecking a skate boarder. They have sold 4,000 units that cost $12 and sell for $69, for over $180,000 in four months. Shark Wheel is doing a deal with a stroller company and Razor Scooter.
They add after getting offers that they have investors in, they have raised $603,000 and three of the investors are in at a $10 million evaluation.
Shark Wheel Episode Data
- Company: Shark Wheel –Website
- Entrepreneur: David Patrick and Zack Fleishman
- Ask: $100,000 for 5% equity
- Episode Season 6 Episode 629
- Companies in this episode:
- Shark Wheel
- Gato Cafe
- Sway Motorsports
- Whitehouse Trip – Featured Update
- First Aired: 03/28/2013
- Deal: Mark Cuban, Kevin O'Leary, Nick Woodman $225,0000 for 7.5% of the company plus a 10% royalty until $500,000 is returned
What do the Shark Tank Investors say about Shark Wheel?
- Mark Cuban – Deal with Kevin O'Leary and Nick Woodman
- Daymond John – thinks they are either crazy or genious, so he will give you $100,000 for 20% equity contingent on seeing real paper for real offers and he will license it. Daymond pulls his offer after learning that they have investors in to the deal.
- Kevin O'Leary – is trying to figure out if the world needs their solution. He offers him $100,000 for 2.5% equity and a royalty of 10% until $500,000 is recouped. Kevin asks Nick to join him on the deal, and offers to provide more money at $150,000 for 10%. Mark Comes in on the deal at $225,000 for 7.5% equity and a 10% royalty
- Lori Greiner – thinks this could be great, but they were wobbly and dizzying for her.
- Nick Woodman – is offering $100,000 for 15% and his contingency is his buddies take it for a rip and if they sign off, then he has no further contingency.
Shark Wheel after Shark Tank
Shark Wheel is supplying KaZaam with their wheels which is another Mark Cuban company. They continue to expand their product offering to other marketplaces. According to Pitchbook, Shark Wheel has Mark Cuban and Kevin O'Leary as investors, but Nick Woodman's name is not listed as an Angel Investor.