Shark Tank Pitch

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WaiveCar Shark Tank Update

2m

Services

Pitch Overview
NameWaiveCar
Main PresentersZoli Honig, Isaac Deutsch
Order Shown in Episode1
Final DealOffer made from sharks

WaiveCar Shark Tank Pitch

Zoli Honig and Isaac Deutsch appeared on Shark Tank Season 9, Episode 7, which aired on October 29, 2017, with free electric car ride sharing service.

WaiveCar is listed in the Services category. In plain terms, the business is described as free electric car ride sharing service.

WaiveCar asked the Sharks for $500,000 for 2%, implying a valuation of about $25 million.

On the show, WaiveCar made a listed deal with Kevin O'Leary for $500,000 loan at 12% interest for 2.25% equity + 80% discount on unsold ad space.

If treated as straight equity, the listed deal works out to about $22.2 million implied valuation, down from the original $25 million implied valuation.

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

Offers

Made ByLabelSharks Part of DealSummary
SharksDealKevin O'Leary$500,000 loan at 12% interest for 2.25% equity + 80% discount on unsold ad space
CompanyOffered$500,000 for 2%

Updates in Shark Tank Episodes

Update SeasonUpdate Episode
No Episode Updates

WaiveCar After Shark Tank

WaiveCar accepted an on-air Shark Tank deal for $500,000 loan at 12% interest for 2.25% equity + 80% discount on unsold ad space. The on-air deal closed. The business later shut down. (WaiveCar Shark Tank Update ).
Just after airing, the company deployed 19 vehicles to Cal State LA for use on campus and around the community. (WaiveCar Shark Tank Update ).
In October, 2019, they ceased posting on social media. (WaiveCar Shark Tank Update ).
In January, 2020, an insurance issue caused Cal State LA to cease the WaiveCar program on its campus. (WaiveCar Shark Tank Update ).

Sources

Sources used for this page: Shark Tank API pitches , Shark Tank API episodes , sharktankblog.com .

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