Tngnt Ski Bikes Shark Tank Episode 17 Update & Net Worth

Tngnt Ski Bikes Shark Tank Episode 17 Update & Net Worth

Tngnt Ski Bikes is a unique innovation that blends the thrill of mountain biking with the excitement of skiing, offering an all-season outdoor adventure. Founded by Scott Carr and Bill Pierce, the company introduced its inventive ski bikes to the Sharks on Shark Tank Season 14, Episode 17. Scott and Bill entered the tank seeking $200,000 for 20% equity, valuing their business at $1 million.

Despite initial concerns from the Sharks about the niche market and modest sales figures, Robert Herjavec saw potential in the product and offered $200,000 for 40% equity.

 The founders accepted, hoping to leverage Robert’s connections, particularly his relationship with Olympic gold medalist Shaun White, to propel their brand forward. As of April 2023, Tngnt Ski Bikes is still in business, with an estimated net worth of $500,000.

What Is Tngnt Ski Bikes? How Does It Work?

Tngnt Ski Bikes is a Utah-based company that specializes in manufacturing ski bikes—a hybrid of skis and bikes designed to navigate snowy terrains. This innovative equipment is built with a unique retention system that allows for greater flexibility, strength, and control while riding on snow. The Tngnt SRS (Retention System) is a patented feature that sets these ski bikes apart from traditional models.

The company offers three main models:

• Drift: Priced at $999, this model is designed for beginners and those looking for a versatile, easy-to-use ski bike.
• Carve 2.0: Priced at $1,499, this model is ideal for intermediate riders, offering enhanced control and maneuverability.
• Carve 2.0 Pro: Priced at $2,399, this is the premium model, designed for experienced riders looking for top-tier performance.

All models feature high-quality materials and are designed to withstand the rigorous demands of snow sports. Tngnt Ski Bikes ships its products across the United States and Canada, offering enthusiasts a new way to enjoy winter sports.

• Save

Tngnt Ski Bikes Shark Tank Episode 17 Season 14: What Happened at Shark Tank Pitch?

In Season 14, Episode 17 of Shark Tank, Scott Carr and Bill Pierce presented Tngnt Ski Bikes to the Sharks, seeking $200,000 for 20% equity at a $1 million valuation. The founders demonstrated the product’s capabilities and highlighted its unique features, including the patented Tngnt SRS retention system, which enhances rider control and stability on snowy terrains.

Despite the impressive demonstration, the Sharks were concerned about the company’s limited sales figures. With only $175,000 in revenue in 2021 and $500,000 in lifetime sales since launching six years earlier, the Sharks questioned the market potential and scalability of the business.

Mark Cuban was the first to drop out, citing concerns about the niche market. Kevin O’Leary, Lori Greiner, and Barbara Corcoran followed suit, citing the company’s small market size and lower-than-expected sales.

However, Robert Herjavec saw potential in the product, particularly for winter sports enthusiasts, and offered $200,000 for 40% equity. After some negotiation, Scott and Bill accepted Robert’s offer, securing a deal that they hoped would help take their business to the next level.

Tngnt Ski Bikes Shark Tank Pitch Summary

• Save

What Happened To Tngnt Ski Bikes After Shark Tank?

Following their successful appearance on Shark Tank, Tngnt Ski Bikes saw a surge in interest and sales. The exposure from the show, coupled with Robert Herjavec’s investment and business acumen, provided the company with the momentum it needed to expand its reach.

After the deal, Robert Herjavec began working with the founders to refine their business strategy and explore new marketing opportunities. Although the deal with Shaun White was still in the works, the partnership with Robert brought credibility and increased visibility to the brand.

The company also introduced new models and expanded its product line to cater to a broader audience. Tngnt Ski Bikes continued to focus on improving its products, incorporating feedback from customers and investing in research and development to stay ahead of competitors in the niche ski bike market.

How Much Is Tngnt Ski Bikes Worth?

As of April 2023, Tngnt Ski Bikes is estimated to be worth $500,000. While the company’s valuation remains modest, it reflects the ongoing growth and potential of the ski bike market. With Robert Herjavec’s investment and strategic guidance, the company is poised to capitalize on its unique product offering and expand its market presence.

Is Tngnt Ski Bikes Still in Business?

Yes, Tngnt Ski Bikes is still in business as of April 2023. The company, headquartered in Bluefidley, Utah, continues to manufacture and sell its innovative ski bikes across the United States and Canada. With a dedicated team of 2-10 employees, Tngnt Ski Bikes remains committed to providing high-quality, durable products that enhance the winter sports experience.

The company’s focus on innovation and customer satisfaction has helped it maintain a loyal customer base, and the partnership with Robert Herjavec has opened new avenues for growth and expansion.

Which Episode Number Was Tngnt Ski Bikes Shark Tank?

Tngnt Ski Bikes appeared on Shark Tank during Season 14, Episode 17, which originally aired on March 17, 2023. This episode marked a significant milestone for the company, as it secured a valuable partnership with Robert Herjavec and gained national exposure, helping to elevate the brand and drive sales.