Shark Tank Update
Shark Tank Pitch
SBU Shark Tank Update
Published:
3m
Camas, WA
| Name | SBU |
|---|---|
| Main Presenters | David Martschinske and Daniel Wood |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 9/25/2022 |
| Main Location | Camas, WA Loading Map |
| Order Shown in Episode | 3 |
| Final Deal | Deal was made on the show with sharks Robert Herjavec, Kevin O'Leary for $300k for 33% of company, but it fell through after the show. |
SBU Shark Tank Pitch
David Martschinske and Daniel Wood created SBU, which stands for Self-Balancing Unicycle. SBU can go up to 15 mph and take a person 10 miles on a single charge.
Daniel is the mastermind behind the tech and has created his own circuit board to create a proprietary design for the SBU. Robert and Kevin try riding the SBU with assistance and are impressed. Each SBU retails for $1800.
David and Daniel have their first 100 units being manufactured this week and they have already sold all of them off their website. They are projecting a profit of $1 million this year.
SBU is exploring licensing its technology to electric bike companies. They already have licensed SBU to a smaller company that has paid SBU $25k in royalties so far.
Robert brings up that the Segway founder crashed his segway into a river and drowned. Also, the segway was banned from sidewalks and became a substantial financial loss for investors.
Some of the sharks worry about unforeseen legal or manufacturing issues that may lay ahead. Kevin and Robert take a shot with an offer at a valuation they feel comfortable at, and David and Daniel accept.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $300k for 10% of company | |
| Sharks | Out | Lori Greiner | Out |
| Sharks | Out | Daymond John | Out |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Offered | Robert Herjavec | $300k for 33% of company |
| Sharks | Deal Never Closed | Robert Herjavec, Kevin O'Leary | $300k for 33% of company |
Mark Cuban
Out
Daymond John
Out
Kevin O'Leary
Deal Never Closed
Lori Greiner
Out
Robert Herjavec
Deal Never Closed
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
SBU After Shark Tank
According to a 2013 article by columbian.com https://www.columbian.com/news/2013/sep/06/1-62-herg-camas-shark, David Martschinske and Daniel Wood's deal fell through as they decided it was not a good deal for them. By 2013 David and Daniel had sold 850 SBUs, equating to $1.5 million in sales.Link Preview
columbian.com
According to focusdesigns.com http://focusdesigns.com/about https://inventist.com/inventions/solowheel https://www.theverge.com/2018/9/26/17902320/mark-cuban-radical-transport-hoverboard-kickstarter, David and Daniel worked with inventist.com Link Preview
focusdesigns.com to create the electronics for the Solowheel. According to theverge.com Link Preview
inventist.com , David Wood got into an argument with the Solowheel founder, Shane Chen, and ended up working for OneWheel after 2014.Link Preview
theverge.com
According to David Martschinske's LinkedIn https://www.linkedin.com/in/davidmartschinske, he left Focus Designs (the company behind SBU) in 2014 and worked in various product companies in Washington and continues to do so in 2022.Link Preview
LinkedIn
SBUs could no longer be purchased in 2015 and the company as we knew it was no more.
In 2017 Mark Cuban backed a company called Moov, which ran a Kickstarter campaign to create its high-end hoverboard. Many of the pending patents at the time were being approved all at once, and everybody started suing everybody. One such patent in the way of Mark Cuban was David Wood's, who supposedly tried to work out a deal with Mark several times, but to no avail. Mark refunded the Kickstarter campaign and didn't get involved with hoverboards.
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