Inventor Scott Olsen pitched his recreation product during
If you’re short on time, here’s a quick overview of what happened to SkyRide Uprising Food after
Scott Olsen appeared on
Shark Tank SkyRide Update
- Entrepreneur: Scott Olsen
- Business: Human-powered monorail
- Ask: $3 million for 20% equity
- Result: No deal
- Shark: None
Scott treated the sharks to a presentation of the SkyRide. He said that SkyRide will be the next form of recreation in the sky, helping people of all ages and abilities, to fly faster than they could possibly ride their bicycle.
Kevin O’Leary immediately balked at the idea, but Scott told them about his success with Rollerblades, and about his vision for SkyRide. This impressed that sharks, especially when he said he made several million dollars on that invention.
Sadly, it turns out that his business partner embezzled all of his profits. Despite this bad experience, he’s now invested in bringing his next invention to the market.
He’s invested around $500,000 of his own money into SkyRide, and countless hours. He’s all in, and hoping a shark will join him.
Kevin wants to talk about the valuation at this point, and says that Scott’s ask means that that company is worth $15 million. Scott agrees that it is, however, there’s just one problem.
In terms of sales, Scott admitted that there were no sales yet. Because of this, Robert Herjavec wanted to know more about monetizing the product.
Further, Robert didn’t think people would buy it for the home, but Scott tried to convince the sharks that people could actually use it in that environment too. In fact, he calls the concept a SkyGym and says that he knows many people interested in setting one up.
The customer would just need 100-200 feet of yard space. Unfortunately, the sharks don’t seem that enthralled with the idea.
Barbara Corcoran didn’t believe in the marketability of the product, so she went out.
Daymond John couldn’t see the appeal either, and went out.
Mark Cuban did find the prospect for the backyard SkyRide exciting but he was concerned by the construction management aspect, and went out too.
Robert couldn’t see the large scale consumer application for the product and followed the other sharks out.
Kevin was the only shark left in play, but he thought the product was a completely bad idea. He didn’t believe in Scott’s ability to sell the product beyond his abilities as an inventor, so he didn’t want to partner with him.
Kevin went out, and Scott had to leave without a deal. He exited the tank and told the camera that he didn’t need the sharks and that he was seeking angel investors.
Do you think he succeeded? Keep reading our SkyRide update to see what came next for the product.
Our SkyRide update reveals that the SkyRide continues to remain a project. Despite this, Scott has moved on to various other successful ventures, including partnering up with Carnival Cruise Ships.
In fact, Mark Cuban and Carrie Underwood have both mentioned in the past that they are fans of the ride. Further, it’s been rated as ‘the best cruise line attraction’.
It seems Scott was able to finally make his SkyRide dreams come true, despite not getting a deal on
If we learn anything new about this company, we will certainly let you know! In the meantime, you can check out our other company updates from Season 3 Episode 13 by following the links below!
For even more on companies and products, be sure to stop by our Season 3 Products Page before you go!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!