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Skyride: Shark Tank Update

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Ever had the fun of fitness and an amusement park at the same time. I hope your dreams come true with Skyride. The one and only futuristic transportation powered by the one and only passenger – the rider. This futuristic toy is a fun exercise as you are literally the engine that runs it.

The company was started in 2012. The inventor had a business called roller blade that he started before that but not seeing success in the same he moved on to the Skyride invention.     

Skyride at a glance:

Business ideaHuman-powered roller coaster  
FounderScotty Olsen
Asked for$3,000,000 for 20%
Accepted dealNone
SharksNo shark
Business statusIn business
EpisodeSeason 3 Episode 13
WebsiteSkyride
Skyride at a glance.

Index:

Founder Story:

The founder of this company Scott Olsen has a lot of guts and willpower to sustain the project. The only worry in his mind is the budget he needs for each project but that will be satisfied by the revenue he generates from the first one.

Twenty-five years ago, he started the company roller blade for which he took credit as a businessman but not the inventor of the product. When it came to Skyride, you can say he breathes the technology for the time it took to build it and now sees the dream of having the product in theme parks/amusement parks around the country.

Scott Olsen has created a company known as OS designs which design and plans out and manufactures the product before getting it out in the market.

Did Skyride get a deal on the Shark Tank?

Scott enters the shark tank with a huge expectation of an investment of $3 million for 20% of his company. He claims that he has made no sales so far. But hopes to see this product as a part of campus sites and amusement parks as well as ski regions and much more. The sharks think it’s all cool but have reservations about the idea.

Barbara likes Scott but doesn’t see the whole thing as a business opportunity, so she’s out. Daymond thinks that the product cannot be converted into a business, he’s out.

See also  Bridal Buddy Shark Tank Update

Mark thinks the product needs a lot of building expertise and he knows he is not a builder so he’s out. Kevin doesn’t see the consumer for the product he’s out, and Robert is last to go out because he doesn’t like the product. Scott walks out with no deal.  

What happened to Skyride after Shark Tank?

The product has not been able to soar high in terms of sales but has seen many venues to sell the product like carnival cruises, carnival says that it has been the most popular attraction on the cruise in a long time. By 2013 the product of Skyride will be operating in two to three locations. They are still marketing and getting the product in the right place at the right time for execution.  

On Carnival Cruise Ships they deployed their third ride in 2020. Also, till July 2020, they made a revenue of about $900,000. In 2022, they are valued at around $20 million.

Product:

  • It is a carbon-free human-powered roller coaster.
  • It is made by OS designs
  • It has an electric assist
  • Weatherproof
  • Durable
  • Requires low maintenance
  • Gravity series – for a nice experience of flight.

Competitors Of Skyride:

The competitors for this company are many. Some of them are Massotti and Massotti LLC, Dylewsky, Goldberg and Brenner, LLC, etc.

What is the net worth of Skyride?

The company had a valuation of $15 million when it reached the shark tank after that the valuation reached $20 million as of today (2022).

Is Skyride still in business?

The company Skyride is still in business. The business is still having a risk to fly high but sooner or later they will soon reach there. With a current valuation of $20 million, they have a long way to go for their project to succeed. I hope the technology succeeds and is an enjoyable ride for its customers

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Related Articles:

What is Skyride?

Skyride is a Human-powered roller coaster.

Who founded Skyride?

The founder of this company Scott Olsen has a lot of guts and willpower to sustain the project. The only worry in his mind is the budget he needs for each project but that will be satisfied by the revenue he generates from the first one.

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