Mountain bikers Scott Carr and Bill Pierce wanted to enjoy the sport year round, even when snow got in their way. That’s why they invented a product that combines the sport of biking with skiing. Will their product earn them a deal on
Shark Tank Tngnt Update
- Entrepreneurs: Scott Carr and Bill Pierce
- Business: Ski Bikes
- Ask: $200,000 for 20% equity
- Result: $200,000 for 40% equity
- Sharks: Robert Herjavec
Scott and Bill brought their Tngnt ski bikes to
The company started manufacturing and shipping about six years before appearing on
These numbers were a little bit lower than what the sharks were hoping for.
Customers have two different options if they are interested in purchasing a ski bike that range from $999 to $1,549, depending on the version. Both models cost about $500 to produce and manufacture.
Mark Cuban was the first shark to drop out, as he didn’t think the market was big enoug. Kevin O’Leary, Lori Greiner, and Barbara Corcoran dropped out as well.
However, Robert Herjavec was interested. He offered $200,000 in exchange for 40% equity and said that he hoped to get his Olympic Gold Medalist friend Shawn White to promote it.
Scott and Bill decided to accept his offer after trying to negotiate the equity amount down a little bit, but the offer stayed exactly the same and the agreement was formed.
Now that Scott and Bill have partnered with Robert, what happened next for their company? Keep reading our Tngnt update to find out!
We have good news to share in our Tngnt update! The company is still in business and is expected to surpass its previous year’s sales numbers.
Since appearing on the show, Tngnt has continued to expand its product line and has launched a new model of their ski bikes.
With Robert (and hopefully Shawn) on the team, we are hopeful that our next Tngnt update will be even better!
Do you want to learn about the other companies featured in Season 14 Episode 17? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 14 Products Page!
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Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!