Electric ride-on devices are extremely popular right now. Chico Guerra and Mason Buechler decided to get in on the fun with their ZUUM skate shoes. These shoes feature one wheel and a self-balancing board for fully electric rolling motion. Will the sharks zoom right on past this company during the Season 11 pitch? Find out in our
Shark Tank ZUUM Update
- Entrepreneur: Chico Guerra & Mason Buechler
- Business: Electric self-balancing e-skates
- Ask: $125,000 for 20% equity
- Result: No deal
- Shark: None
ZUUM’s electric skate shoes make an impressive entrance, with the entrepreneurs riding in on their self-balancing footboards. After showing some sick moves, entrepreneurs Chico Guerra and Mason Buechler invite Robert Herjavec to try them. He has a fun ride, but stopping is a bit more of a challenge!
Unfortunately, that’s where the fun stops for these young businessmen. ZUUM Skate Shoes don’t have an inspiring backstory or any real innovation. ZUUM doesn’t own the skate, they just distribute it. When the sharks dig deeper, they find that they don’t have an exclusive deal with the manufacturer.
This prompts Kevin O’Leary to wonder what stops anyone from producing the same thing. The entrepreneurs say that anyone could sell these, which is a big red flag for the sharks. The company has earned $25,000 on Kickstarter to test the market, and plan to sell their skate shoes for $299 each, with a $139 manufacturing cost.
Mark Cuban drops out first, saying that he doesn’t see any real plan from these entrepreneurs. Barbara Corcoran asks what obstacle they have, and after some hesitation, they say that the money is their biggest hurdle. Barbara is unsatisfied, stating that money rarely helps when entrepreneurs aren’t passionate and drops out.
Lori Greiner mentions that Segue has something similar, and the entrepreneurs reply that they do, but it’s sold at a higher price point. This isn’t enough justification for Lori, and she drops out. Kevin goes the same way, saying that it bothers him that ZUUM doesn’t own anything or have anything above the competition.
Finally, only Robert is left. After some waffling, he gives them the bottom line: he doesn’t trust them with his money. With this, ZUUM walks out of the
ZUUM is still an active company, but they don’t seem to be doing much better than they were on
Similar products are available on Amazon without the branding, which implies that ZUUM had some trouble branding themselves successfully. There’s no word on how much the company has made.
You can find the other company updates from Season 11 Episode 10 here:
Don’t forget to take a look at our Season 11 products page! We’ve got more company updates from