VibeRide Skateboard Shark Tank Episode 10 Update & Net Worth

VibeRide Skateboard Shark Tank Episode 10 Update & Net Worth

In Season 15 of Shark Tank, Charlie Cannon, Carson Macdonald, and Chris Goodhue pitched their innovative VibeRide Skateboard to the sharks. VibeRide is notable for being the first skateboard equipped with brakes, providing enhanced safety and control for riders.

During their pitch, they sought $250,000 for 10% equity, valuing their company at $2.5 million.

The sharks were intrigued by the idea of adding brakes to a skateboard, something that had never been successfully done in the market before. Mark Cuban saw potential in the idea and offered $250,000 for 12% equity. This deal was a slight departure from the founders’ initial ask, but they accepted the offer, securing a partnership with one of the most prominent sharks.

VibeRide’s net worth post-Shark Tank is estimated to be around $2.6 million, reflecting the company’s continued growth and the strategic partnership with Mark Cuban. The brand’s headquarters is located in Salt Lake City, Utah, and it has expanded its product lineup to include e-scooters and e-boards, in addition to their innovative skateboard brake kits.

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What is VibeRide Skateboard? How Does it Work?

VibeRide Skateboard is an innovative product designed to enhance safety and control for skateboarders. The key feature that sets it apart is the braking system, a simple yet revolutionary addition to traditional skateboards. This system allows riders to slow down or stop by pressing down on a lever with their foot, providing much greater control, especially when going downhill.

The braking system is seamlessly integrated into the skateboard’s design. Unlike traditional methods of slowing down by dragging a foot on the ground, the VibeRide system allows for a smooth deceleration without disrupting the rider’s balance.

This innovation is particularly beneficial for new skateboarders and those who frequently ride on steep inclines.

In addition to the Pro Brake Kit, which retails for $169, VibeRide offers a full skateboard with the brake system for $249. These products are available on their website, which offers worldwide shipping, making it accessible to skateboarders across the globe. The company is also set to launch electric scooters priced at $499, expanding their range of innovative products.

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VibeRide Skateboard Shark Tank Episode Season 15 Episode 10: What Happened at Shark Tank Pitch?

In Shark Tank Season 15, entrepreneurs Charlie Cannon, Carson Macdonald, and Chris Goodhue introduced the VibeRide Skateboard, the only skateboard equipped with brakes. Their innovative design aimed to make skateboarding safer and more enjoyable.

During the Shark Tank pitch, the founders of VibeRide—Charlie Cannon, Carson Macdonald, and Chris Goodhue—impressed the sharks with their unique approach to improving skateboard safety. Seeking $250,000 for 10% equity, they valued their company at $2.5 million.

The pitch included a demonstration of the braking system, which showed how easily it could be used to control speed and stop safely. The sharks appreciated the ingenuity of the product, especially given the high-risk nature of traditional skateboarding. The founders also highlighted their 63% profit margin and the fact that brake kits accounted for 50% of their sales.

Charlie Cannon shared his entrepreneurial background, including a $15 million venture in camera drones, and explained how he had invested $1.2 million into VibeRide. The founders also revealed they had secured six utility patents for their braking technology, solidifying their position in the market.

Mark Cuban quickly made an offer of $250,000 for 15% equity, but after negotiations, the deal was finalized at $250,000 for 12% equity. This outcome was favorable for both parties, with Mark Cuban seeing the potential for growth and the founders gaining a strategic partner to help scale their business.

What Happened To VibeRide Skateboard After Shark Tank?

After securing a deal with Mark Cuban on Shark Tank, VibeRide Skateboard saw a significant boost in visibility and sales. The partnership not only provided the necessary capital to grow but also added credibility to the brand, helping it attract more customers and expand its market reach.

VibeRide continued to focus on innovation, expanding its product lineup to include electric scooters and e-boards. The company’s commitment to quality and safety resonated with both novice and experienced skateboarders, leading to increased demand for their products.

The deal with Mark Cuban also opened doors for better marketing opportunities, allowing VibeRide to reach a broader audience. While specific sales figures post-Shark Tank have not been disclosed, the company’s growth trajectory suggests that it has capitalized on the exposure from the show effectively.

VibeRide Skateboard Shark Tank Pitch Summary

How Much Is VibeRide Skateboard Worth?

As of the latest update, VibeRide Skateboard is estimated to be worth around $2.6 million. This valuation is based on the company’s sales figures, market presence, and the strategic partnership with Mark Cuban.

Before appearing on Shark Tank, VibeRide had achieved $150,000 in pre-sales and projected $600,000 in annual sales. The deal with Mark Cuban, combined with the exposure from Shark Tank, has likely increased the company’s valuation, positioning it for continued growth in the skateboard and e-mobility markets.

The company’s innovative approach, coupled with its strong profit margins and patented technology, makes it a promising player in the industry. As VibeRide continues to expand its product offerings and market reach, its net worth is expected to grow further.

Is VibeRide Skateboard Still in Business?

Yes, VibeRide Skateboard is still in business and thriving. After securing a deal with Mark Cuban on Shark Tank, the company has continued to innovate and expand its product lineup. Their offerings now include not just skateboards with brakes but also electric scooters and e-boards, catering to a broader range of customers.

The company’s products are available for purchase on their website, which offers worldwide shipping. VibeRide has also benefited from the credibility and exposure gained through Shark Tank, helping it establish a strong presence in the market.

With a focus on safety, innovation, and quality, VibeRide continues to attract a growing customer base, positioning itself for long-term success in the sporting goods industry.

Which Episode Number Was VibeRide Skateboard on Shark Tank?

VibeRide Skateboard was featured in Season 15, Episode 10 of Shark Tank. The episode aired on January 12, 2023, and showcased the founders’ innovative approach to skateboarding with their unique braking system.

The appearance on Shark Tank provided VibeRide with significant exposure, helping to boost their brand recognition and sales. The partnership with Mark Cuban has since played a crucial role in the company’s growth and development.