Acton Skates Update

Acton Skates Update | Shark Tank Season 7

ByAndrew Smith

Peter Treadway lived in a busy city where getting around was expensive and frustrating, so he came up with a better idea. He created Acton Rocket Skates and M Scooters—small, electric devices that make traveling easier and save money compared to using a car. Let’s see what happens between the sharks and Peter in our Acton update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Acton after Shark Tank.

Peter entered Shark Tank Season 7, seeking $1 million for 3.5% equity in his personal electric skates business, Acton. Unfortunately, after his pitch, he left without securing a deal with the sharks.

In terms of an Acton update, the company rebranded as Acton Global and shifted its focus from electric skates to electric scooters and bikes. As of 2024, Acton’s valuation reached $50 million, with its electric bikes available in over 100 cities worldwide.

SharkResult
Kevin O’Leary$1,000,000 for 15% equity
Mark CubanNo offer
Lori GreinerNo offer
Robert HerjavecNo offer
Ashton KutcherNo offer

Shark Tank Acton Pitch

Shark Tank Acton Skates Update
  • Entrepreneur:  Peter Treadway
  • Business: Personal electric skates
  • Ask: $1 million for 3.5% equity
  • Result: No deal
  • Sharks: None

Peter entered Shark Tank gliding on a pair of Acton Rocket Skates, aiming to change the way people move in cities.

With $2 million in sales halfway through 2015, he sought $1 million to scale manufacturing and expand the brand’s reach.

Acton specialized in personal electric transportation, offering Rocket Skates and the M Scooter as compact, high-tech alternatives to traditional commuting.

The Rocket Skates provided up to 90 minutes of battery life per charge, while the M Scooter lasted between three to five hours. Both used brushless hub motors, ensuring a smooth ride.

Their lightweight, portable design made them practical for city travel. To enhance usability, Acton developed a companion app that tracked usage and connected riders in real time.

Peter’s pitch included a demonstration where Robert Herjavec tested the skates.

Though they communicated wirelessly and responded to foot motion rather than a remote, Robert found them harder to control than expected.

Acton offered three skate models, each with different ranges. The shortest range retailed at $499, while the longest went for $699. Manufacturing costs were around 40% of the retail price.

By 2014, Rocket Skates had secured over 20 patents, and the company had already generated $1 million in sales.

With $2 million in revenue halfway through 2015, Acton had raised $2 million in its first round of funding and another $2.5 million at a $20 million valuation in the second round.

Despite the company’s traction, the sharks weren’t convinced. Robert bowed out first, citing concerns about the valuation and suspecting Peter wasn’t seriously looking for a deal.

Guest shark Ashton Kutcher followed, unimpressed by the pitch and put off by the high price point.

Lori Greiner felt Peter lacked enthusiasm, while Mark Cuban hesitated due to missing financial details.

That left Kevin O’Leary, who offered $1 million for 15% equity. However, Peter countered with 6%, unwilling to give up a larger stake.

Kevin refused to budge, and Peter walked away without a deal.

Was this the right move for Peter? Find out in our Acton update.

Shark Tank Acton Update

Our Acton update research revealed that though Acton walked away without a deal, the company continued to grow.

The company later rebranded as Acton Global, shifting its focus away from electric skates. Instead, it now provides electric scooters and bikes to college campuses and city transport systems.

Meanwhile, their electric skateboard became a hit, and by 2021, Acton reported $6 million in annual revenue.

As of February 2023, their electric bikes were available in over 100 cities worldwide, and by 2024 they are worth a staggering $50 million.

However, while Rocket Skates are no longer for sale, Acton’s products remain available on their website.

Even without a Shark Tank deal, Acton has successfully evolved.

We are calling this Acton Skates update a success.

Don’t forget to check out the other company updates from Season 7 Episode 1. You can find them here:

Before you go, be sure to check out our list of all the Shark Tank Season 7 products.

 

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Andrew is a lifelong fan of Shark Tank and an entrepreneur at heart. He started Shark Tank Recap because he wanted a single place to track what happens to the companies, founders, and deals after they air on TV. With a sharp eye for business insights and a passion for all things Shark Tank, Andrew makes sure every recap is accurate, engaging, and fun.