![]() ![]() After some haggling, they agree to a $750,000 loan at 10% interest for three years at a 3% equity stake. The guys go into the hall to discuss it and when they come back, Kevin and Lori have teamed up to offer the same loan terms but a 5% equity stake – 2.5% each. Mark, Robert and Chris are all out, but Lori offers a $750,000 loan at 8% interest for a 3% equity stake. Kevin offers a $750,000 loan at 8% interest for three years plus a 2.5% equity stake. To date, they’ve done $5.6 million in global pre-orders which will be fulfilled by the end of the year. ![]() Mark thinks it’s too niche.Īs for margins, they have a 65% margin on a $1399 board. Lori asks if it can go uphill and the answer is yes, plus, when you go downhill, the motors act as brakes and it charges the battery. They answer Mark’s question first, stain g they’ve raised $2.7 million at a $10 million valuation. When the fun is over, the questions start. The board operates with a remote, they hand it to Kevin and he zooms down the hallway and back. They tell their story and invite Sharks to try it out. Ryan, Dave and Chris enter seeking $750,000 for 4% of their business. Will a Shark get on board with this business? Inboard Technology Shark Tank Recap The company likely needs a Shark’s cash for ramping up production on a larger scale. ![]() Inboard is producing boards now and most orders go out in a week. They got a big boost from a highly successful Kickstarter campaign which raised $421,935 for custom molds and tooling. The company also sells carrying bags, branded apparel, and charging accessories. Riders control the M1 with a wireless, handheld remote or with the accompanying mobile app.Īn Inboard Technology board will set you back $1399.00. It charges in about 90 minutes and has a range of 7-10 miles, depending on the rider’s weight. It comes with swappable battery packs, so you never get left without power. The guts of the M1 revolves around their patented “Manta Drive.” This internal drive provides power directly to the rear wheels of the board and offers the smoothest electric skateboard ride in the world. It’s an entire ecosystem that encourages third-party development, customization, and personalization.” What that means is it rides smooth – whether you’re riding powered or not. According to Inboard Technology: “Our board is designed to be more than an electric skate. Their flagship product, the M1 Electric Skateboard, is the focus of their pitch. Ryan Evans, Dave Evans, and Chris Haley pitch Inboard Technology, their business that makes innovative electric skateboards, in Shark Tank episode 807. ![]()
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