Ryan Evans, Dave Evans, and Chris Haley pitch Inboard Technology, their business that makes innovative electric skateboards, in Shark Tank episode 807. Their flagship product, the M1 Electric Skateboard, is the focus of their pitch. According to Inboard Technology: “Our board is designed to be more than an electric skate. It’s an entire ecosystem that encourages third-party development, customization, and personalization." What that means is it rides smooth – whether you’re riding powered or not.
The guts of the M1 revolves around their patented “Manta Drive.” This internal drive provides power directly to the rear wheels of the board and offers the smoothest electric skateboard ride in the world. It comes with swappable battery packs, so you never get left without power. It charges in about 90 minutes and has a range of 7-10 miles, depending on the rider's weight. Riders control the M1 with a wireless, handheld remote or with the accompanying mobile app.
An Inboard Technology board will set you back $1399.00. The company also sells carrying bags, branded apparel, and charging accessories. They got a big boost from a highly successful Kickstarter campaign which raised $421,935 for custom molds and tooling. Inboard is producing boards now and most orders go out in a week. The company likely needs a Shark's cash for ramping up production on a larger scale.
Will a Shark get on board with this business?
Inboard Technology Shark Tank Recap
Ryan, Dave and Chris will pitch the panel of five Sharks on the business and its prospects for growth. They'’ll need to convince Mark Cuban, Robert Herjavec, Kevin O’Leary, Lori Grenier, and Chris Sacca that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but they’ll need to show them THEY are capable of running the company to “Shark standards." A full pitch re-cap on Inboard Technology will be available on Shark Tank Blog once this episode airs.
Inboard Technology Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on Ryan Evans, Dave Evans, Chris Haley and Inboard Technology as more details become available.