What Happened To Tngnt Ski Bikes After Shark Tank?

Tngnt Ski Bikes is a ski bike company that provides riders with the strength, and flexibility when bike riding. Chutes, jumps, trees, etc. can be done with the help of this Tngnt Carve All-Mountain Ski Bike in snow and it will be done with very little effort.

If there is a new person who is learning snow sport, then this bike can be easy for him to learn snow riding. The ski bike was first patented in 1949 by Austrian ski manufacturer Engelbert Brenter, according to Sierrasun.

There is a long story behind the beginning of the company Tngnt Ski Bikes Inc. This company was started by two school friends Scott Carr and Bill Pierce.

When Scott was working with one of the ski bike startups, he found a lot of flaws in ski bikes. Scott approaches Bill to design their own ski bike. They both started working on designing and prototyping the ski bikes and it took them 2 years to make the final product.

Bill is a designer and Scott has a great knowledge of mountain and ski bikes. While making the bike, they paid special attention to the retention system and after a lot of testing, Tngnt SRS was born.

For funding, both Scott Carr and Bill Pierce appeared on Shark Tank Season 14 Episode 17 and asked the sharks for $200,000 for 20% equity at $1 Million Valuation.

What Is Tngnt Ski Bikes?

Tngnt Ski Bikes is a Bluefidley, Utah based ski bike manufacturing company. This manufacturer designs ski bikes using the company retention system.

This retention system is designed to allow the rider’s legs to have maximum range of motion, strength, and flexibility while riding. This company has 19 product patents.

The three bike models of this manufacturer company are Drift, Carve 2.0 and Carve 2.0 Pro. Their cost is $999, $1,499 and $2,399. Apart from all this, it also provides accessories related to ski bike. The company ships the bike to both the United States and Canada.

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Who Is The Founder Of Tngnt Ski Bikes?

The founders of this Tngnt Ski Bikes company are two high school friends Scott Carr and Bill Pierce. Both these friends are from different backgrounds. Scott has years of experience in mountain bike and ski bike technology.

Bill is a professional design and aerospace technology expert and handled the tech part of the bike.

Tngnt Ski Bikes Before Shark Tank

This company was started in 2014. Scott told that he met Bill in the 80s, after which they started skipping school so that they could participate in mountain bike races.

The founder took many years to make a better ski bike. After a lot of hard work, they had made the final product. In 2018, they launched a crowdfunding campaign on Indiegogo with a goal of $10,000.

They raised an amount of $14,841 from 18 backers. By Dec 7, 2018, they had shipped the bike to all the backers.

The brand is offering bikes on rental basis in some specific Utah places which include Boise, Payson and Park City.

How Was The Shark Tank Pitch Of Tngnt Ski Bikes?

Scott and Bill both entered Shark Tank asking the sharks for $200k for 20% equity. They gave a very good demo session to the sharks to understand about the product.

This product was launched in 2014 and the product is being shipped in 2015. Their lifetime sales is $0.5 million. In 2021 they made $175,000 by selling 200 units and this year in 2022 they will make $250,000.

All the sharks are out and Robert Herjavec decides he’ll make an offer. Robert offered $200k for 40% equity and would try to rope in Shaun White as an investor. Founder countered 30% equity Robert said no. Finally the founder agreed to Robert’s offer.

Finalize: Robert Herjavec invests $200k for 40% equity in Tngnt Ski Bikes.

What Happened To Tngnt Ski Bikes After Shark Tank?

This ski bike company got funding in Shark Tank. In this company, Shark Robert invested $200k for 40% equity.

While doing this deal, Robert said that he would approach American snowboarder Shaun White for a partner.

Tngnt Ski Bikes Shark Tank Update

Both Scott and Bill discuss their company after entering Shark Tank. On the Shark Tank stage, they talked about a lot of things and how their product is completely different from other ski bike manufacturer brands.

We’re following Scott Carr and Bill Pierce along with their company for further updates.

What Is The Net Worth of Tngnt Ski Bikes?

Tngnt Ski Bikes is estimated to be worth $0.5 million. This manufacturer company has been running since 2014, although there is a lot of competition in this ski bike industry. There is a chance of selling this product in the country where it snows all the time.

Snow bike is a multi millionaire industry and this industry is growing slowly. Many innovative technologies have been invented to make the snow bike. There are still a few brands making ski bikes, including skibyk, lenzsport and more.

Is Tngnt Ski Bikes Still In Business?

Scott and Bill are always trying to grow this company. They have made a lot of changes in the product that they have made a lot of effort to get a ride.

This manufacturing company is also making many changes in its snow bike. Currently, this brand of snow bike is available for both Canada and United States of America.

The current headquarter of this manufacturing company is in Bluefidley, Utah, United States and it is estimated to employ 2-10 people.

Yes, Tngnt Ski Bikes is still in business as of April 2023.

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