Tngnt Ski Bikes Shark Tank Update

Tngnt Ski Bikes Shark Tank Pitch

Scott Carr and Bill Pierce appeared on Shark Tank Season 14, Episode 17, which aired on March 17, 2023, with Want to try something new and fun this winter? Try a Tngnt Ski Bike! Tngnt Ski Bikes builds all-mountain ski bikes for riders of all abilities. Ride all year on a Tngnt Ski Bike!.

Tngnt Ski Bikes is listed in the Fitness Outdoors category. In plain terms, the business is described as Want to try something new and fun this winter? Try a Tngnt Ski Bike! Tngnt Ski Bikes builds all-mountain ski bikes for riders of all abilities. Ride all year on a Tngnt Ski Bike!.

Tngnt Ski Bikes asked the Sharks for $200,000 for 20%, implying a valuation of about $1 million.

On the show, Tngnt Ski Bikes made a listed deal with Robert Herjavec for $200,000 for 40%.

If treated as straight equity, the listed deal works out to about $500,000 implied valuation, down from the original $1 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Tngnt Ski Bikes After Shark Tank

Tngnt Ski Bikes accepted Robert Herjavec's on-air offer for 40%, but later update coverage says the deal never closed and the hoped-for endorsements did not pan out. (Tngnt Ski Bikes Shark Tank Update

The business was still substantial, with update coverage putting annual revenue around $2 million even without the finalized Shark deal. (Tngnt Ski Bikes Shark Tank Update

Tngnt Ski Bikes remains active online, selling all-mountain ski bikes and accessories for riders who want a bike-style alternative on snow. (Tngnt Ski Bikes Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches