Inboard Technology is an electric scooter and skateboard company founded by Ryan Evans, David Evans, and Chris Harley. This innovative company was founded in 2014 by three friends so that riders can enjoy their rides smoothly.
Many electronic skateboards have come into the market, but their M1 electric skateboard is unique from the rest because it has in-wheel motor technology.
They raised $421,935 on Kickstarter on March 5, 2015, by launching a crowdfunding campaign.
The co-founders raised a lot of funding from investors to expand the business; they raised a total of $2.7 million before Shark Tank. The valuation of this company was $10 million during the last round of funding.
Ryan, David, and Chris appeared on Shark Tank Season 8 Episode 10 for Investment and asked the sharks for $750,000 for 4% equity at a $18.7M Valuation.
What is Inboard Technology?
Inboard Technology is a California-based sporting goods manufacturing company. This company makes electric scooters and skateboards.
Their successful product is the M1 Electric Skateboard, which uses in-wheel motor technology, which is one of the smallest hub motors. A small battery is attached inside this skateboard which supplies power to the wheels and the skateboard is controlled from the remote.
|Company Name||Inboard Technology|
|Founder||Ryan Evans, David Evans, and Chris Harley|
|Product||Electric scooters and skateboards|
|Asked For||$750k for 4% equity|
|Final Deal||$750k loan at 10% interest + 3% equity|
|Shark||Lori Greiner||Kevin O’Leary|
|Episode (Shark Tank USA)||S8 E10|
|Air Date||Dec 2, 2016|
|Business Status||Out of Business|
|Headquarters||Santa Cruz, California, US|
|Lifetime Worth (Sales)||$25M *estimated|
|Buy and Watch||Buy Now||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of Inboard Technology?
The Co-Founders of Inboard Technology Company are Ryan Evans, David Evans, and Chris Harley.
How Was The Shark Tank Pitch Of Inboard Technology?
Ryan, David, and Chris all three after entering the shark tank explain their business to the shark and ask the shark for $700k for 4% equity. Kevin O’Leary used the product himself and found the product sustainable.
Mark, Robert, and Chris are all three sharks out. Kevin O’Leary made the first offer $750,000 loan at 8% interest for 3 years + 2.5% equity. Lori Greiner offers a $750,000 loan at 8% interest + 3% equity.
Kevin and Lori teamed up to offer a $750,000 loan at 8% interest + 5% equity. After some negotiation, the co-founders committed to the $750k loan at 10% interest for 3 years + 3% equity offer.
What Happened To Inboard Technology After Shark Tank?
Inboard Technology got a deal in Shark Tank. Kevin O’Leary and Lori Greiner invested in this company. After Shark Tank, the sales of this company’s M1 Electric Skateboard increased and many people bought this product.
What’s new on Inboard Technology
Last Update: August 18, 2023
As of August 2023, the official website of Inboard Technology Company is not live and no valuable information has come on the internet yet. We think this company has gone out of business.
Inboard Technology Shark Tank Update
Inboard Technology Company got successful funding on Shark Tank but after that, no information related to the company has become available. If any information becomes available, we will update it on this post.
What Is the Net Worth of Inboard Technology?
Inboard Technology has an estimated net worth of $10 million. The market size of electronic skateboards in the United States is more than $269 million. In today’s time, the industry of electronic scooters, skateboards, cars, etc. is increasing continuously.
Is Inboard Technology Still In Business?
No information related to the inboard technology business is available from 2022 and the official website of this company is also not active.
The headquarters of this company is in Santa Cruz, California, United States.
No, Inboard Technology is Out of business as of August 2023.