Inboard Shark Tank

Inboard Shark Tank – Founder, Net Worth, and Investment

Inboard Technology, a California-based company, gained recognition through its appearance on the popular show Shark Tank. The company specializes in the manufacturing of electric scooters and skateboards, with its flagship product being the M1 Electric Skateboard. Notably, the M1 Electric Skateboard features groundbreaking in-wheel motor technology, setting it apart from competitors in the market.

Prior to its Shark Tank appearance, Inboard Technology raised over $400,000 through a successful Kickstarter campaign. The company had already secured a total funding of $2.7 million, showcasing the investors’ confidence in its innovative approach to personal transportation.

When presenting their business on Shark Tank, the founders of Inboard Technology sought a $750,000 investment for a 4% equity stake, valuing the company at $18.7 million. Their pitch captured the attention of renowned investor Kevin O’Leary and entrepreneur Lori Greiner, who ultimately struck a deal with the founders.

The Inboard Shark Tank pitch and subsequent investment marked a significant milestone for the company, opening doors to further growth and opportunity in the electric transportation industry.

Inboard Shark Tank

Key Takeaways:

  • Inboard Technology is a California-based company known for its electric scooters and skateboards.
  • The company received over $400,000 through a successful Kickstarter campaign.
  • During their Shark Tank pitch, Inboard Technology sought a $750,000 investment for 4% equity.
  • Founders secured a deal with Kevin O’Leary and Lori Greiner.
  • The M1 Electric Skateboard showcases the company’s innovative in-wheel motor technology.

What is Inboard Technology?

Inboard Technology is a sporting goods manufacturing company based in California. They specialize in the production of electric scooters and skateboards. Their most popular product is the M1 Electric Skateboard, which features advanced in-wheel motor technology. This technology allows for a smoother and more enjoyable riding experience.

With its sleek design and innovative features, the M1 Electric Skateboard has gained a reputation as one of the top electric skateboards in the market. It offers riders the opportunity to experience the thrill of skateboarding while enjoying the benefits of electric-powered transportation.

Key Features Benefits
In-wheel motor technology Provides a smoother and more silent ride
High-performance battery Extended riding range for longer adventures
Regenerative braking system Recovers energy while braking, increasing battery life
Intuitive remote control Effortlessly control speed, acceleration, and braking
Customizable riding modes Adapt the ride to your skill level and preferences

Whether you’re commuting to work, exploring the city, or simply enjoying a leisurely ride, Inboard Technology’s electric scooters and skateboards offer a sustainable and eco-friendly alternative to traditional transportation methods. With their commitment to quality and innovation, Inboard Technology continues to push the boundaries of electric-powered mobility.

Who is the Founder of Inboard Technology?

Inboard Technology was founded by Ryan Evans, David Evans, and Chris Harley. Ryan and David, both former professional kiteboarders, teamed up with Chris to create the company in 2014. Their collective passion for innovative transportation solutions led them to develop the M1 Electric Skateboard and pave the way for Inboard Technology’s success.

Founder of Inboard Technology

The founders of Inboard Technology, Ryan Evans, David Evans, and Chris Harley, brought their expertise and entrepreneurial spirit to create a groundbreaking company. Ryan and David’s background in the sporting industry, coupled with Chris’s technical knowledge, formed the perfect synergy for Inboard Technology’s inception.

“We wanted to revolutionize the way people commute and have fun. Our goal was to create electric transportation devices that were efficient, stylish, and enjoyable to ride,” said Ryan Evans.

This shared vision led the founders to develop the M1 Electric Skateboard, which showcased their commitment to innovation and superior design. By integrating cutting-edge technology, such as in-wheel motors, Inboard Technology created a product that set new standards in the electric transportation market.

Ryan Evans and David Evans: Former Professional Kiteboarders

Ryan Evans and David Evans, brothers and co-founders of Inboard Technology, have a deep-rooted passion for extreme sports. Both of them had successful careers in kiteboarding, competing at national and international levels. This experience fueled their drive to explore new avenues within the sporting industry, leading to the creation of Inboard Technology.

Chris Harley: Technical Expertise

Chris Harley, the third co-founder of Inboard Technology, brought invaluable technical expertise to the team. With a background in engineering and a keen interest in sustainable transportation, Chris played a crucial role in developing the advanced technology behind the M1 Electric Skateboard.

The combined expertise and dedication of the three founders set the foundation for Inboard Technology’s success. Their visionary approach and commitment to creating innovative electric transportation devices positioned the company as a key player in the industry.

How was the Shark Tank pitch of Inboard Technology?

When Inboard Technology appeared on Shark Tank Season 8 Episode 10, they presented their business to the panel of sharks, seeking a $750,000 investment in exchange for a 4% equity stake. The company’s valuation stood at $18.7 million.

Kevin O’Leary and Lori Greiner were among the sharks who showed interest in this innovative electric transportation company. After negotiations, they offered Inboard Technology a $750,000 loan with a 10% interest rate for three years. In addition to the loan, Kevin and Lori proposed a 3% equity stake in the company.

The founders of Inboard Technology carefully considered the offer and ultimately decided to accept it, recognizing the value of the financial support and expertise that Kevin O’Leary and Lori Greiner could provide.

Inboard Technology’s Shark Tank Investment Details

Investor Offer
Kevin O’Leary $750,000 loan at 10% interest for three years
Lori Greiner 3% equity stake in the company

By securing this investment offer, Inboard Technology gained not only financial resources but also the valuable guidance and connections of two renowned sharks from the show.

Inboard Technology Shark Tank pitch

What happened to Inboard Technology after Shark Tank?

After their successful pitch on Shark Tank, Inboard Technology experienced a surge in sales for their M1 Electric Skateboard. The exposure from the show helped boost the company’s visibility and attract more customers. However, as of August 2023, the Inboard Technology website is no longer operational, suggesting that the company may be out of business.

Inboard Technology post-Shark Tank

“The exposure from Shark Tank really catapulted our sales. We were able to reach a wider audience and showcase the unique features of our M1 Electric Skateboard. It was an exciting time for our team, and we were grateful for the opportunity.” – Ryan Evans, co-founder of Inboard Technology

Inboard Technology’s appearance on Shark Tank provided a significant boost to their sales and brand awareness. The exposure to millions of viewers helped generate interest in their innovative electric skateboard. However, despite the initial success, the company’s website is currently inactive, indicating potential challenges or an unfortunate closure. It is uncertain what led to the company’s current status, but their time on Shark Tank undoubtedly had a positive impact on their sales performance.

What is the net worth of Inboard Technology?

Inboard Technology, a California-based company specializing in electric scooters and skateboards, has an estimated net worth of $10 million. With the electric skateboard market in the United States valued at over $269 million, Inboard Technology has made a significant impact on the industry. Their innovative products, including the M1 Electric Skateboard, have contributed to the company’s overall valuation.

Is Inboard Technology still in business?

As of 2022, no information about Inboard Technology’s current business operations is available. The company’s official website is inactive, and its headquarters is located in Santa Cruz, California. Based on the lack of recent updates and the website’s status, it appears that Inboard Technology is no longer in operation.

Despite the absence of concrete information, the inactive website and lack of updates indicate a possible closure of the business. This is a significant development considering the company’s past success and innovative products.

Business Status Website Headquarters
Inactive/Likely Closed Inboard Technology’s website is inactive. Santa Cruz, California

It is unfortunate to see a once-promising company’s uncertain fate, especially in the rapidly evolving electric transportation industry. The closure of Inboard Technology raises questions about the challenges faced by startups and the need for sustained growth and adaptability in a competitive market.

While the specifics behind the company’s closure remain unclear, it serves as a reminder of the inherent risks associated with entrepreneurial ventures and the importance of strategic planning and continued innovation to navigate the evolving business landscape.

Inboard Technology Shark Tank Update

After their appearance on Shark Tank, Inboard Technology had the opportunity to secure a deal with both Kevin O’Leary and Lori Greiner. However, the specific details of the post-Shark Tank journey and the outcome of the investment are not available. It is unclear if the deal ultimately materialized or if the company encountered challenges that led to its discontinuation.

Inboard Technology’s pitch on Shark Tank showcased the potential of their innovative electric skateboards and scooters. The investment offer from Kevin O’Leary and Lori Greiner highlighted their belief in the company’s vision.

“We see great potential in Inboard Technology’s products and their ability to disrupt the electric transportation industry. We are confident in their team and their dedication to delivering top-notch performance and design.”

Unfortunately, due to the lack of available information, it is difficult to determine the current status of Inboard Technology and the impact of the investment from Kevin O’Leary and Lori Greiner. The company’s fate after their appearance on Shark Tank remains uncertain.

Inboard Technology Shark Tank update

Summary:

  • Inboard Technology secured a deal with Kevin O’Leary and Lori Greiner after their Shark Tank pitch.
  • The specific details and outcome of the investment are not available.
  • Their appearance on Shark Tank showcased the potential of their electric skateboards and scooters.
  • Inboard Technology’s current status and the impact of the investment remain uncertain.

Annual Revenue and Funding Reports of Inboard Technology

Inboard Technology has achieved impressive financial success through its annual revenue and funding efforts. The company’s estimated annual revenue stands at approximately $25 million, which is a testament to its market presence and customer demand.

One significant contributor to Inboard Technology’s financial growth is its successful Kickstarter campaign. Through the campaign, the company raised over $400,000 in preorders, indicating strong consumer interest and support for its innovative electric transportation products.

Furthermore, prior to their appearance on Shark Tank, Inboard Technology had already secured a total of $2.7 million in funding. This funding played a crucial role in the company’s development and enabled them to further expand their operations and product offerings.

Inboard Technology revenue and funding reports

The revenue and funding reports highlight the positive trajectory of Inboard Technology’s financial standing. With a steady increase in revenue and a successful Kickstarter campaign, the company has demonstrated its potential for long-term growth and success in the electric transportation market.

Key Financial Figures Amount (in millions)
Total Annual Revenue $25
Kickstarter Campaign Funding $400,000
Total Funding Raised $2.7

The provided table offers a summary of the key financial figures related to Inboard Technology’s revenue and funding reports. It showcases the company’s impressive revenue generation and successful funding efforts, indicating a strong foundation for future growth and expansion.

The story behind Inboard Technology’s closure

Inboard Technology unexpectedly shut down its operations in November 2019. The closure was reportedly due to a failed purchase agreement with a large European scooter operator. The company’s investors opted for liquidation, leading to the closure of warehouses, phone lines, and the removal of the company’s website.

This unfortunate turn of events marked the end of Inboard Technology’s journey in the electric transportation industry. Despite their innovative products and initial success, the inability to secure a crucial purchase agreement led to the ultimate demise of the company.

The failed purchase agreement not only impacted Inboard Technology’s business operations but also affected its stakeholders, customers, and employees. The decision to opt for liquidation was made to address the financial implications and minimize losses.

“The closure of Inboard Technology serves as a reminder of the challenges and uncertainties that startups often face, even after achieving initial success. It highlights the importance of securing sustainable agreements and partnerships to ensure the longevity of a business.”

The Impact of the Closure

The shutdown of Inboard Technology had ripple effects on various aspects of the company and the industry as a whole. Some notable impacts include:

  • Loss of jobs: With the closure of warehouses and the discontinuation of operations, employees of Inboard Technology were forced to seek alternative employment opportunities.
  • Customer disappointment: Those who had purchased Inboard Technology’s products or were planning to do so were left disappointed and without support from the company.
  • Competitive landscape: The closure of Inboard Technology removed one player from the electric transportation industry, potentially impacting market dynamics and competition.

Despite the closure, the electric transportation industry continues to evolve and innovate, with other companies striving to fill the gap left by Inboard Technology.

Key Details of Inboard Technology’s Closure

Event Date Details
Shutdown November 2019 Inboard Technology ceased its operations, leading to the closure of warehouses and discontinuation of product support.
Failed Purchase Agreement Unknown The company’s closure was reportedly triggered by the failure to secure a purchase agreement with a large European scooter operator.
Liquidation November 2019 Inboard Technology’s investors opted for liquidation to address the financial implications of the closure and minimize losses.

The Legacy of Inboard Technology

Inboard Technology’s closure left a void in the electric transportation industry. While their journey ended abruptly, their innovative products and vision for sustainable transportation continue to influence the sector.

Despite the challenges they faced, Inboard Technology’s legacy serves as a reminder of the risks and rewards associated with entrepreneurship and technological advancement. Their story is a testament to the passion and determination of startup founders who push boundaries to create groundbreaking solutions.

The impact and lessons learned from Inboard Technology’s closure will resonate within the industry, guiding future entrepreneurs and companies as they navigate the ever-evolving landscape of electric transportation.

Inboard Technology Shutdown

The Impact and Legacy of Inboard Technology

Inboard Technology, a prominent player in the electric transportation industry, left a lasting impact during its active years. The company’s innovative products, specifically the M1 Electric Skateboard, garnered significant attention from consumers around the world. Through cutting-edge technology and a commitment to redefining transportation, Inboard Technology established a reputation for delivering high-quality electric scooters and skateboards.

“Inboard Technology pushed the boundaries of what was possible in the electric transportation industry, inspiring others to follow suit.”

The incomparable performance and sleek design of the M1 Electric Skateboard elevated Inboard’s reputation, making it a standout brand in a rapidly growing market. By integrating state-of-the-art in-wheel motor technology, Inboard positioned itself as a true innovator, reshaping the way people commute and experience personal transportation.

Despite the company’s eventual closure, Inboard Technology’s legacy remains intact, serving as a testament to the impact of its pioneering efforts. By challenging conventions and introducing groundbreaking products, Inboard Technology shaped the development of the electric transportation industry, paving the way for future advancements.

Through its commitment to excellence, Inboard Technology set an influential precedent that continues to inspire entrepreneurs and industry leaders alike. The company’s dedication to revolutionizing urban transportation has left an indelible mark, propelling the electric transportation industry forward.

The Role of Inboard Technology in Advancing Electric Transportation

Inboard Technology played a vital role in introducing innovative solutions to the electric transportation industry. By combining cutting-edge technology with a user-centric approach, the company transformed the way people viewed and interacted with electric scooters and skateboards.

One of the notable achievements of Inboard Technology was the integration of in-wheel motor technology in its products. This revolutionary advancement resulted in a smoother and more efficient riding experience, enhancing user satisfaction and solidifying Inboard’s position as an industry leader.

The company’s commitment to sustainability further distinguishes its impact on the electric transportation landscape. By providing eco-friendly alternatives to traditional transportation methods, Inboard Technology contributed to the reduction of carbon emissions and promoted a greener and more sustainable future.

Inboard Technology’s pioneering efforts, combined with its commitment to quality and innovation, have left an indelible mark on the electric transportation industry. The company’s legacy continues to inspire new players and fuel advancements in the pursuit of more efficient, environmentally friendly, and enjoyable modes of transportation.

Inboard Technology's Impact in the Electric Transportation Industry

Key Achievements Highlights
In-wheel motor technology Enhanced riding experience through smoother operation
Sustainability focus Provided eco-friendly alternatives to traditional transportation
Inspiration and influence Set a precedent for innovation in the electric transportation industry

Inboard Technology: A Revolutionary Startup’s Journey

Inboard Technology’s journey is a testament to the entrepreneurial spirit and innovative thinking that drives startup businesses. From its inception, the company aimed to revolutionize the electric transportation industry, and it made significant strides towards this goal.

With their flagship product, the M1 Electric Skateboard, Inboard Technology captured the attention of consumers worldwide. The advanced in-wheel motor technology offered a smoother and more enjoyable riding experience, setting them apart from competitors.

However, despite their early success, Inboard Technology ultimately faced challenges that led to the closure of their operations. While their story may have ended prematurely, it serves as a reminder of the risks and rewards associated with pioneering new technologies and pursuing innovative business ideas.

FAQ

What is Inboard Technology?

Inboard Technology is a California-based company that specializes in the production of electric scooters and skateboards, with its flagship product being the M1 Electric Skateboard.

Who is the founder of Inboard Technology?

Inboard Technology was founded by Ryan Evans, David Evans, and Chris Harley. Ryan and David, both former professional kiteboarders, joined forces with Chris to establish the company in 2014.

How was the Shark Tank pitch of Inboard Technology?

During their appearance on Shark Tank Season 8 Episode 10, the founders of Inboard Technology sought a 0,000 investment for 4% equity at an .7 million valuation. Eventually, they secured a deal with Kevin O’Leary and Lori Greiner.

What happened to Inboard Technology after Shark Tank?

Following their successful pitch on Shark Tank, Inboard Technology experienced a surge in sales for their M1 Electric Skateboard, and the exposure from the show helped boost the company’s visibility. However, the website is currently inactive, suggesting that the company may no longer be in operation.

What is the net worth of Inboard Technology?

The estimated net worth of Inboard Technology is million. The market for electric skateboards in the United States is valued at over 9 million, and Inboard Technology’s innovative product and successful funding rounds contributed to its overall valuation.

Is Inboard Technology still in business?

As of 2022, there is no information about Inboard Technology’s current business operations. The company’s official website is inactive, indicating that it may no longer be in operation.

What is the Inboard Technology Shark Tank update?

Inboard Technology secured a deal with both Kevin O’Leary and Lori Greiner on Shark Tank. However, it is unclear if this deal ultimately materialized, or if the company encountered challenges that led to its discontinuation. Details of the post-Shark Tank journey are not available.

What are the annual revenue and funding reports of Inboard Technology?

Inboard Technology’s annual revenue can be estimated at around million. The company raised over 0,000 through a Kickstarter campaign and had a total funding of .7 million prior to their appearance on Shark Tank.

What is the story behind Inboard Technology’s closure?

Inboard Technology unexpectedly shut down its operations in November 2019 due to a failed purchase agreement with a large European scooter operator. This led the company’s investors to opt for liquidation, resulting in the closure of warehouses, phone lines, and the removal of the company’s website.

What was the impact and legacy of Inboard Technology?

Inboard Technology had a significant impact on the electric transportation industry during its active years. The company’s innovative products, such as the M1 Electric Skateboard, captured the attention of consumers worldwide. While the company faced challenges that led to its closure, its reputation as an early player in the electric transportation market remains.

What is the journey of Inboard Technology, a revolutionary startup?

Inboard Technology’s journey is a testament to the entrepreneurial spirit and innovative thinking that drives startup businesses. Despite facing obstacles and ultimately closing its doors, the company made significant strides in the electric transportation industry. Inboard Technology’s story serves as a reminder of the risks and rewards associated with pioneering new technologies and pursuing innovative business ideas.

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