Tngnt Ski Bikes Update | Shark Tank Season 14
Back in the 1980s, Scott Carr and Bill Pierce loved biking in the mountains but couldn’t ride during the snowy winters. To solve this, they created Tngnt, a ski bike that lets people enjoy the fun of biking on the slopes all year. With a design that makes it easy to control and turn, Tngnt gives riders a new way to experience winter sports. Will they secure a deal? Let’s find out in our Tngnt update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to Tngnt after
Scott and Bill entered
In terms of a Tngnt update, the company capitalized on its
| Shark | Result |
| Robert Herjavec | Accepted offer of $200,000 for 40% equity |
| Barbara Corcoran | No offer |
| Mark Cuban | No offer |
| Kevin O’Leary | No offer |
| Lori Greiner | No offer |
Shark Tank Tngnt Pitch
- Entrepreneurs: Scott Carr and Bill Pierce
- Business: Ski Bikes
- Ask: $200,000 for 20% equity
- Result: $200,000 for 40% equity
- Shark: Robert Herjavec
Scott and Bill entered
They introduced Tngnt Ski Bikes, which combine skiing and biking to create a unique snow sports experience.
The entrepreneurs hoped to secure an investment to increase inventory and meet the growing demand for their patented designs.
The company started manufacturing and shipping its ski bikes six years before appearing on
However, their financial performance raised some concerns.
By 2021, Tngnt had generated just $175,000 in sales and only $500,000 in gross lifetime revenue—a figure much lower than what the sharks typically looked for.
Despite the modest numbers, Scott and Bill showcased the innovative features of their ski bikes.
With a low center of gravity, the bikes provide excellent stability, making them less likely to tip over than traditional skis.
Riders can control speed and direction by shifting their body weight, allowing for precise turns and responsive handling.
This unique design makes the bikes safer and easier to use, appealing to snow enthusiasts of all ages, from thrill-seekers to families.
Tngnt sells its ski bikes directly to customers through its website and retail partners. However, all buyers must sign a liability waiver before completing their purchase.
Customers can choose between two models priced from $999 to $1,549, depending on the version.
Both models cost around $500 to produce, leaving room for a reasonable profit margin.
The company holds 19 patents, including its standout innovation: the ski retention system. This feature enhances maneuverability and sets the bikes apart from competitors.
As the sharks examined the business, they were impressed by the design and ingenuity but skeptical about the market potential.
Mark Cuban was the first to drop out, citing concerns about the size of the ski bike market.
Kevin O’Leary, Lori Greiner, and Barbara Corcoran followed, expressing doubts about the company’s scalability and revenue history.
However, Robert Herjavec saw potential in the product.
He offered $200,000 for 40% equity, expressing confidence that his Olympic Gold Medalist friend Shaun White could help promote the bikes.
Scott and Bill tried to negotiate the equity down to 30%, but Robert held firm.
Ultimately, they accepted his offer and left with a deal
Now that Scott and Bill have teamed up with Robert. Keep reading our Tngnt update to find out what’s next for their company.
Shark Tank Tngnt Update
Our Tngnt update found that after the episode aired, the company experienced a significant surge in visibility.
Increased website traffic and social media engagement quickly translated into higher sales.
The company expanded its product line with new models, the Carve 2.0 and Carve 2.0 Pro, priced at $1,499 and $2,399.
They also offered accessories such as the Leash 2.0 kit and Pow Bombs Skis. These products were made available for shipping across the United States and Canada.
At the end of 2023, the company reported annual revenue of $5.2 million, a substantial jump from their pre-Shark Tank figures.
However, by July 2024, the deal with Robert Herjavec had not materialized.
While the reasons for this are unclear, Tngnt Ski Bikes continued to grow independently, with its net worth reaching $1.7 million.
We are happy to report a successful Tngnt update.
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.
Before you go, be sure to check out our list of all the Shark Tank Season 14 products.
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!