Bike theft is a huge problem in populated cities, which can easily ruin your day and have you walking home. Sometimes, traditional bike locks just don’t do the trick. As a result, Mohamed Mohamed created Linka, the smart bike lock that includes an alarm. What will the sharks think of this high-tech smart lock on
Shark Tank Linka Update
- Entrepreneur: Mohamed Mohamed
- Business: Smart bike lock
- Ask: $250,000 for 10% equity
- Result: No deal
- Shark: None
Mohamed entered the tank asking for $250,000 in exchange for 10% equity in his company, Linka. He created a smart solution to a common issue in larger cities. The lock was hard to cut off and emitted a loud alarm when the bike was moved. It also kept the wheels from moving if put in the correct position.
Robert Herjavec, who helped demonstrate the alarm, said the alarm wouldn’t matter. He wanted the traditional peace of mind that a chain brought.
Mohamed explained that Linka cost $45 to make and sells in two different options, including one for $129 and one with a physical chain for $159. The lock released when it sensed that you were close, too. He funded the lock on Kickstarter and sold about $40,000 since the Kickstarter campaign ended.
Barbara Corcoran rode a bike every day, but she preferred the psychological assurance of a chain. She went out, followed by Robert, who agreed. Kevin O’Leary isn’t excited about the category, so he went out too.
Lori Greiner and Mark Cuban both went out next. Lori thought the alarm needed to be louder, while Mark thought the issue would be with competition – and the fact that Mohamed has none was telling for him. This left Linka without a deal. Find out where the company is now in our Linka update.
Even though Linka walked away without a deal from the sharks, it’s great news for the company. Our Linka update research revealed that the company is thriving, with a growing product line and active social media accounts.
The company is still in business with an estimated $4 million in annual revenue. You can purchase Linka on Amazon or on the official website.
But what about the other products featured in Season 7 Episode 20? You can find our company updates for those products here:
Curious to find out more about companies and products? Check out our Season 7 Products Page.