VibeRide Shark Tank Update (Season 15)

VibeRide is a sporting goods manufacturing company that creates innovative skateboard brake technology. This business was started by three friends Carson MacDonald, Charlie Cannon, and Chris Goodhue in 2022.

The idea of ​​this skate brake business started from a college dorm room. These three friends are studying at Utah State College and they like Skateboarding but it is not easy to Skateboarding in the hilly areas of Utah.

In hilly areas, the skateboards needed to have a brake system, so Carson started exploring skateboard brakes. He found out that an Australian company whose founder is Benjamin Newman had created the Skateboard Break System in 2007, although Newman had started working on the Skateboard Break System in 1999.

After acquiring the patent on the skateboard brake system, these three friends improved the skateboard and brake system by giving them a unique design.

Carson is already running an online drone business and the earning of this business is already over $10 million by 2023. They need funding to grow this skateboard braking system business, So Carson, Charlie, and Chris appeared on Shark Tank Season 15 Episode 10.

What Is VibeRide?

VibeRide Product
Image credit by VibeRide Instagram

VibeRide is a sporting goods manufacturing brand that sells longboard brakes, brakeboards, brake kits, e-scooters, and e-boards. A single brake board costs $249 and brake kits cost $169. They are going to launch electric scooters soon and their cost can be $499.

You can buy all these products from the company website. They are shipping worldwide.

Company NameVibeRide
FounderCarson MacDonald, Charlie Cannon, and Chris Goodhue
Founded2022
ProductInnovative Skateboard Break Technology
Asked For$250k for 10% equity
Final Deal$250k for 12% equity
SharkMark Cuban Shark Tank Profile Mark Cuban
Episode (Shark Tank USA)S15 E10
Air DateJan 12, 2023
Business StatusIn Business
WebsiteVisit Website
HeadquartersSalt Lake City, Utah, USA
Lifetime Worth (Sales)$600k *estimated
Buy and WatchBuy NowAmazon Prime

Another Shark Tank Pitch

Who Is The Founder Of VibeRide?

The co-founders of VibeRide Business are Carson MacDonald, Charlie Cannon, and Chris Goodhue. They launched this business officially in 2022.

Charlie was running an Affordable Drone Business and the name of his business was EXO Drones. OpenStore acquired EXO Drones for $2.9M in 2022.

How Was The Shark Tank Pitch Of VibeRide?

Carson, Charlie, and Chris, these three college friends entered Shark Tank and asked the Sharks for $250,000 for 10% equity at a $2.5 Million Valuation. They explained to the Sharks about the skateboard brake system, how it works, and what benefits it can provide to people who do skateboarding.

The retail cost for their Pro Brake Kit is $149 and the full board is $259. The medium full board costs $189 and the cheapest board costs around $129 to $139 at retail.

The margin in all their products is 63% and 50% of sales are from brake kits. They currently have 6 Unity patents.

Charlie has been doing different businesses since the age of 14 such as flipping T-shirts, flipping scooters, and affordable camera drones. In the affordable camera drones business, he had formed 23 teams and sold camera drones worth approximately $15 million.

Apart from the $15 million, he sold the entire business for $3 million. They pre-sold it 2 months ago and got orders worth $150,000. By the end of this year, they expect sales of $600,000.

Charlie has so far invested $1.2 million in this business. Charlie bought the patent for the Londerboard brake system from all the people who were doing the brake system business by paying him $450,000.

Mark Cuban immediately offered $250k for 15% equity and it was a yes or no offer. Charlie countered Mark with $350k for 15% equity. Mark countered $250k for 12% equity and if cash is required in the future then he would add it.

Charlie countered at $265k for 12% equity but Mark remained at $250k for 12% equity, so Charlie finally accepted Mark’s offer.

Sharks Offers list!

SharksOffers
Daymond John Daymond JohnNo Offer
Kevin O'Leary Shark Tank Profile Kevin O’LearyNo Offer
Mark Cuban Shark Tank Profile Mark Cuban$250k for 15% equity (#1)
$250k for 12% equity (#2)
Candace Nelson Candace NelsonNo Offer
Lori Greiner Profile for Shark Tank Lori GreinerNo Offer
Founder’s (Countered)$350k for 15% equity (#1)
$265k for 12% equity (#2)
Final Deals$250k for 12% equity

What Happened To VibeRide After Shark Tank?

Vibe Ride gets a deal on Shark Tank Mark Cuban invests $250k in this business for 12% equity. So right now a 25% discount is going on on their website.

Currently, not much information related to this business is available. If we get any information, we will update it in this post.

VibeRide Shark Tank Update

These three entrepreneur friends, after giving a better pitch in the Shark Tank, shared the scope of their business with the Sharks. After this episode of Shark Tank aired, there was a lot of discussion about this business on the internet.

What Is VibeRide’s Net Worth?

VibeRide’s net worth is estimated at $2 million. The global skateboard market size in 2022 was estimated to be USD 3.22 billion. 12-17 year olds like skateboarding the most. Skateboarding is most liked in North America and 40% of the global skateboard market revenue comes from it.

Annual Revenue by Years

Note: This report is based on our research and data so far. In this, we are only estimating the annual revenue.

YearsAnnual Revenue
2023$600k *estimated
2022$ *estimated

Funding Reports to Date!

YearsFunding AmountInvestor
2023$250kMark Cuban

Is VibeRide Still In Business?

According to us, this is a good product, although there is a lot of competition in the market, if social media marketing is done right, then profit can be made in this business.

The headquarters of this business is in Salt Lake City, Utah, United States, and 2-10 employees are working in it.

Yes, VibeRide is still in business as of January 2024.

frequently asked questions

Who founded VibeRide?

VibeRide was founded by Carson MacDonald, Charlie Cannon, and Chris Goodhue.

Did VibeRide get a deal on Shark Tank?

Viberide got the deal on Shark Tank. Mark Cuban had invested in this business.