Dakota and Michael from Massachusetts have rethought the bicycle and resigned it for the 21st century with their company, GeoOrbital. Their product upgrades your traditional bicycle into an electric bike, easily at home, in under 60 seconds, with no tools. While the company came into
Shark Tank GeoOrbital Update
- Entrepreneur: Dakota Decker and Michael Burtov
- Business: Upgrade to make a traditional bicycle become an electric bike.
- Ask: $500,000 for 5% equity
- Result: No Deal
- Shark: None
Sharks Kevin O’Leary and Barbara Corcoran enjoyed riding the GeoOrbital bikes around the tank. The entrepreneurs also showed off another product they had up their sleeves. In addition to the bike upgrade, they had a new, innovative style of electric bike they have unveiled as well. Guest shark, Chris Sacca, felt they were focusing on the wrong product and dropped out.
Mark Cuban felt the bike space was too competitive and dropped out. Lori Greiner laid out three different boxes that need to be checked for her to invest: is it something people need/want, does it solve a problem, and can it be made at an affordable price? Because it only checked two boxes, she got out of the tank.
Kevin said he would buy the product, but would not invest in the company and dropped out. Barbara thought the product wasn’t investable and also dropped out, leaving GeoOrbital with no offers. Now that we know Dakota and Michael didn’t get a deal, let’s have a look at a GeoOrbital update.
During our GeoOrbital update, we found that even though the company didn’t receive any backing from the
GeoOrbital won the Time Magazine invention of the year in 2019 and the Edison Award for innovation in 2018, so it is safe to say others liked the product. Their website showcases the product but doesn’t give anywhere to purchase it.
The product is currently sold out at Best Buy and Amazon. It is unclear whether this is pandemic related, or if the company has stopped production. The Facebook page hasn’t been updated since 2020, so it may seem more like they are no longer in business.
So, it looks like this might be our final
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