Joe Wilcox has created a new method of transportation that takes the thrill of a motorcycle but adds safety and maneuverability. Will he earn a deal on
Shark Tank Sway Motorsports Update
- Entrepreneurs: Joe Wilcox
- Business: Electric motor bike
- Ask: $300,000 for 10% equity
- Result: $300,000 for 20% equity
- Sharks: Mark Cuban
Joe rode into the tank on his Sway Motorsports electric bike. Its patented sway tilt control allows the driver to control the vehicle with their feet. This unique feature makes it easy to take tight turns safer and faster than a motorcycle. The sharks were impressed with his demonstration.
Joe told the sharks that the primary vehicle could be purchased for $7999.00. His personal hopes are to find OEM’s that can help market and sell the vehicle across North America in the near future. The company already had $350,000 in pre-order revenue. He needs the help of a shark so he can start manufacturing and fulfill his preorder sales.
Kevin O’Leary believed that there was too much work to be done, so he was the first shark to go out. All of the remaining sharks dropped out, but there was one final twist to the story. After previously going out, Mark Cuban gave Joe an opportunity to make him an offer before he left the tank.
Joe offered $300,000 for 20% equity and Mark accepted right at the last moment. What happened next for his company? Keep reading our Sway Motorsports update to find out!
We have sad news to share in our Sway Motorsports update. It looks like Mark Cuban never inked the deal with Joe and the company appears to have gone out of business. At some point between 2017 and 2019, Sway Motorsports and their website stopped providing additional updates. This will be our final Sway Motorsports update.
Would you like to learn about the other companies featured on Season 6 Episode 29? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 6 Products Page!
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!