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Self Balancing Unicycle Shark Tank Update

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Self-balancing unicycle or solo wheel is a great way to change urban transportation. Solo Wheel, as the name suggests, is a single wheel with two pedals on the sides. The Solo Wheel is a battery-powered wheel that speeds up and slows down according to the user’s movements, the way they lean in or straighten up. Solo Wheel is cheap, small, and easy to carry.

The Sbu-Self-Balancing Unicycle is the first commercial transport for children. The Sbu cycle is unique as it assists the rider with how to balance the cycle. Sbu goes for a continuous period of 2 hours once charged, and 15 miles per hour is its maximum speed.

Self Balancing Unicycle at a Glance:-

IdeaHands-Free, Battery Powered Unicycle
FoundersDaniel Wood and David Martchinske
Asked For$300,000 for 10%
Accepted Deal$300,000 for 30%
SharksKevin O’Leary and Robert Herjavec
Business statusOut of  Business
Episode No.Season 4, Episode 7
WebsiteSelf Balancing Unicycle

Index:

Who are the founders of Self-Balancing Unicycle?

Daniel Wood and David Martschinske, of focus designs, are the founders of Self Balancing Unicycle. They came into the market with a vision of changing urban transportation completely.

Did Self-balancing Unicycle get a deal on Shark Tank?

Self-balancing Unicycle founders Dan and Dave entered the show seeking an investment of $300k in exchange for 10 % of the company.   They shared their start-up story and asked the sharks to take a . Kevin and Robert took a spin trial,. Meanwhile, they shared that they had sold 100 units till now, at $1800 per unit. Lori Greiner wasn’t interested in putting her money into this, so, she went out.

Daymond John didn’t want to invest in an unproven product, so, he also moved out. Mark Cuban thought manufacturing so this could be a headache, so he turned out himself. Dan and Dave then revealed that they have licensed and a patent for the technology behind the Solo wheel.

See also  Bottle Breacher Shark Tank Update
https://www.youtube.com/watch?v=B9ZM894ru7U

This pulled the interest of Robert and Kevin into the deal and they gave a combined offer of $300k in exchange for 33.3% of their company. They accepted the deal as they had no other offers to negotiate and took their checks.

What happened to the Self-Balancing Unicycle?

After the show, Self Balancing Unicycle became a huge in the market, once the show aired. It was done. The deal While there isn’t a lot of news on this deal’s progress, one thing is for sure: you can buy a Solo wheel now! When the episode first aired, they were not available for purchase before that.

After the show, the company introduced new models like Scorpion, an urban-friendly model with a handle that doubles as a kickstand; and the Extreme, a model that can handle rougher terrain. During the pitch, they asked for a valuation of $30,000.

 As per February, 2022,  they are still in business and doing $5 million in annual revenue making an awesome scale to go on.

Competitors of Self-Balancing Unicycle

  • Inmotion V8
  • Swagroller Electric Unicycle
  • MTen3 10

What is the net worth of a Self-Balancing Unicycle?

At the time of the show, they were valued at around $900,000. Today, the net worth of the Self-Balancing Unicycle is more than $ 5 million.

Is the Self-Balancing Unicycle still in business?

The Self-Balancing Unicycle is still in business and running smoothly and growing consistently over ongoing years in terms of customers and sales.

Over the years, they have introduced many new models, such as scorpions, an urban-friendly model and the extreme, a model which can handle all the rougher terrain.

Self Balancing Unicycle

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FAQs:

What is Self Balancing Unicycle?

Self-balancing unicycle or solo wheel is a great way to change urban transportation. Solo Wheel, as the name suggests, is a single wheel with two pedals on the sides. The Solo Wheel is a battery-powered wheel that speeds up and slows down according to the user’s movements, the way they lean in or straighten up.

Who founded Self Balancing Unicycle?

Daniel Wood and David Martschinske, of focus designs, are the founders of Self Balancing Unicycle. They came into the market with a vision of changing urban transportation completely.

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