VibeRide Shark Tank Update | Season 15 Episode 10

During Season 15 of Shark Tank, entrepreneurs Charlie Cannon, Carson Macdonald, and Chris Goodhue pitched their innovative skateboard company, VibeRide.

This unique skateboard is the first of its kind to feature brakes, a logical addition given that bikes have them for safety.

But how did the sharks respond to this new concept? Did VibeRide secure a deal on Shark Tank?

Get to know the details in our thorough analysis on VibeRide Shark Tank update and pitch recap…

If you’re short on time, here’s a quick overview of what happened to VibeRide after Shark Tank:

VibeRide On Shark Tank

VibeRide Shark Tank Deal

• Business: Skateboard with Brakes
• Entrepreneurs: Charlie Cannon, Chris Goodhue, and Carson Macdonald
• Asked For: $250,000 for 10% equity
• Shark Tank Deal: $250,000 for 12% equity
• Shark: Mark Cuban

VibeRide Company Info

What Is VibeRide?

VibeRide is not your average skateboard—it’s the first skateboard on the market equipped with brakes, designed to provide riders with better control and safety.

Founders Charlie Cannon, Carson Macdonald, and Chris Goodhue, all skateboard enthusiasts, created VibeRide out of a desire to enhance the safety and enjoyment of skateboarding. They aimed to solve a core challenge for skateboarders: descending hills without constantly worrying about losing control or falling.

The innovative VibeRide brake system allows riders to simply pivot and press a brake lever with their foot rather than manually stopping by dragging a foot on the ground.

Key Features of VibeRide:

• Pro Brake Kit, retailing for $149, can be attached to most skateboard decks.
• Full VibeRide skateboards, equipped with the built-in brake, are available starting at $259.
• Additional models range from $129 to $189, depending on functionality.

VibeRide Shark Tank Pitch Recap

When VibeRide’s founders, Charlie Cannon, Chris Goodhue, and Carson Macdonald, walked into the stage of Shark Tank, they had a bold idea: skateboards should come with brakes, just like any other wheeled recreational product.

As avid skateboarders, they knew firsthand the challenges of downhill skating, where stopping is as crucial as speed. They explained to the Sharks that while brakes add safety, their primary motivation was to enhance the overall skateboarding experience.

The founders shared that they often spent more time focusing on not wiping out on hills than actually enjoying the ride, which ultimately inspired their creation.

To demonstrate the innovation, one of the founders took to a skateboard ramp, showcasing how effortlessly the brake system worked. Unlike traditional braking by dragging a foot on the ground, VibeRide’s brake mechanism is activated with a simple pivot of the foot at the back, pressing down on a lever brake.

The Sharks were intrigued and visibly impressed by the design, especially when the founders handed out custom boards to each Shark, inviting them to try it firsthand.

Charlie and his team explained that VibeRide has been tested at speeds up to 50 miles per hour, which caught the attention of the Sharks and highlighted the product’s credibility.

Skating enthusiasts and experts alike had already shown strong interest in VibeRide, bolstered by the fact that the brand offers several models tailored to different skating needs.

VibeRide Skateboard Cost Breakdown

The entrepreneurs shared their pricing: the VibeRide Pro Brake Kit retails at $149, while the full VibeRide skateboard sells for $259. Additional models, each varying slightly in functionality, ranging from $129 to $189.

This spread gives skaters the option to add a brake to their existing board or buy a complete VibeRide setup. The company enjoys a healthy profit margin of 63%, a figure that the Sharks noted was very promising.

Sharks’ Queries On VibeRide Shark Tank Pitch

Kevin O’Leary was quick to inquire about sales data, particularly how many customers opted for the brake kit alone versus the full skateboard with brakes.

The founders responded that sales were split 50/50, indicating a balanced market interest for both options. This flexibility in product offering resonated with the Sharks, as it indicated VibeRide’s adaptability to the needs of both seasoned skaters and newcomers.

Guest Shark Candace Nelson, a mother, expressed her curiosity, noting that while the brake feature seemed intuitive, it hadn’t been previously available on skateboards.

The founders echoed her sentiment, adding that they also wondered why no one had added brakes to skateboards before. To address this gap, they explained, they not only innovated the concept but also secured six patents to protect it.

VibeRide On Shark Tank Financial Performance

Then, the conversation shifted to financial performance. The team revealed that just two months before filming, they had opened for presales, generating over $150,000 in revenue.

They projected this would increase to $600,000 by year-end, a promising trajectory that underscored the strong demand for their product.

Lori Greiner, intrigued by their entrepreneurial skills, asked about their backgrounds. Charlie shared that he had previously sold a company for $3 million and led another business to $15 million in product sales.

He added that each member of the VibeRide team had extensive experience in engineering, marketing, and branding.

The Sharks were further impressed to learn that, despite being in their 20s, the founders had already built substantial professional achievements and formed a solid working relationship over the years.

Charlie went on to reveal his personal investment in the venture which was $1.2 million. This included the acquisition of a patent portfolio from the only company that had previously developed skateboard brakes.

The scale of his investment signaled his belief in VibeRide’s potential to disrupt the skateboarding market.

Sharks’ Offers For VibeRide Shark Tank Pitch

Having heard enough, Mark Cuban was the first Shark to make an offer. He proposed $250,000 in exchange for 15% equity in the company.

Charlie, however, countered with $350,000 for the same 15% equity, valuing the company at a higher rate.

Mark responded by revising his offer to $250,000 for a reduced 12% stake, demonstrating flexibility but sticking to a valuation he felt was fair.

Charlie continued negotiating, countering with $265,000 for 12% equity, but Mark stood firm at his original offer of $250,000 for 12%.

After weighing the terms and recognizing the strategic value of partnering with Mark, who has a strong background in sports and recreational brands, the founders accepted the deal.

In the end, Charlie and his team walked away with a $250,000 investment from Mark Cuban in exchange for 12% equity in VibeRide, leaving the other Sharks without a chance to make an offer.

The deal was a promising beginning for VibeRide, setting them on course for a successful journey in the skateboarding industry.

So, what happened to VibeRide after Shark Tank? Keep reading our in-depth analysis on Vibe Ride Shark Tank Update to find it out.

VibeRide Shark Tank Update

According to our latest VibeRide Shark Tank Update: VibeRide has received a significant boost in visibility since appearing on Shark Tank.

Exposure to millions of viewers has helped the brand reduce marketing costs while building brand awareness. With increased online traffic and interest, VibeRide has seen a surge in demand for both the Pro Brake Kit and full boards.

Key Highlights Post-Shark Tank:

• Expanded online sales via their official website.
• Increased customer engagement, especially from parents and safety-conscious buyers.
• Continued focus on new product models and potential expansion into electric skateboards with brakes.

The founders also capitalized on their Shark Tank appearance by launching an affiliate program, enabling enthusiasts to earn a 10% commission on referrals—a smart move to leverage word-of-mouth marketing from satisfied customers and supporters.

Vibe Ride Shark Tank Net Worth

Before appearing on Shark Tank, VibeRide had already generated significant interest and sales, with over $150,000 in presales and a projected $600,000 in revenue by the end of the year.

This early success, paired with their innovative braking technology and patents, positioned the company with strong growth potential.

Founder Charlie Cannon had invested $1.2 million of his own funds, which included purchasing existing patents to secure their braking system. This substantial investment underscores the founders’ high valuation and belief in the brand’s future.

When VibeRide entered the Shark Tank, Mark Cuban’s offer valued the company at around $2.08 million, with his $250,000 investment for a 12% equity stake.

This valuation aligns with the founders’ projections and growth trajectory, given their successful presales and strong market interest.

With Mark Cuban’s partnership, VibeRide is poised for expansion, likely increasing its market value as production scales and sales accelerate post-Shark Tank.

Did VibeRide Get A Deal On Shark Tank?

Yes, VibeRide successfully secured a deal on Shark Tank with Mark Cuban.

After showcasing their innovative skateboard brake system and impressing the Sharks with their sales projections and background, Mark Cuban made an offer of $250,000 for a 15% equity stake. However, after some negotiation, he ultimately settled on $250,000 for 12% equity.

The VibeRide founders, Charlie Cannon, Chris Goodhue, and Carson Macdonald, accepted Mark’s offer without hearing other offers from the remaining Sharks.

With Mark’s investment and his background in sports and consumer products, the team secured not just financial support but also a strategic partnership, setting the stage for VibeRide’s growth in the skateboarding industry.

VibeRide Brakeboard Review

VibeRide’s customers have praised the product for its unique approach to skateboard safety. With six patents protecting the design, VibeRide offers an exclusive experience that has gained traction among both new skaters and seasoned riders.

Their online shop offers a variety of skateboard models, and the company actively engages customers for feedback and improvements.

Positive feedback emphasizes the peace of mind the brake feature brings, especially for parents buying skateboards for their children.

Additionally, experienced skaters have acknowledged the brake’s functionality, especially when riding downhill or in crowded areas.

Where To Buy Viberide Skateboard?

VibeRide skateboards are available for purchase directly from the company’s official website, where customers can explore various models and select the one that best suits their needs.

The website offers detailed information on each board, including pricing and features, ensuring that buyers can make an informed decision. Additionally, the VibeRide team frequently updates their product offerings, making it a convenient one-stop shop for all their skateboard needs.

For those looking for more purchasing options, VibeRide skateboards are also available on Amazon, where customers can easily order and have their boards delivered quickly.

With its broad availability, both on the official website and a trusted platform like Amazon, VibeRide ensures its innovative skateboards are accessible to a wide audience.

What’s Next For VibeRide?

With a Shark onboard and a unique, innovative product, VibeRide’s future looks promising. The team has hinted at plans to expand its product line, possibly introducing new skateboard models with enhanced features, or even entering the electric skateboard market.

The ongoing development of new products and the exploration of international markets could further accelerate VibeRide’s growth.

The founders’ focus remains on offering skaters a safer, better-controlled experience. By combining performance, safety, and quality, VibeRide is well-positioned to become a leader in the skateboarding industry.

FAQs On Vibe Ride Shark Tank Update

Conclusion: VibeRide After Shark Tank

According to our Viberide Shark Tank update: VibeRide’s appearance on Shark Tank was a pivotal moment, and with Mark Cuban’s investment and mentorship, the brand is equipped for further success.

From the initial pitch that wowed the Sharks to a unique braking system that addresses core safety concerns, VibeRide has continued to make waves in the skateboarding community.

As they ride this wave of momentum, VibeRide’s founders are committed to pushing boundaries and redefining what’s possible in the world of skateboarding.

If you’re looking for a unique and safer skateboarding experience, check out VibeRide’s range of products and experience the first skateboard with brakes!

Stay tuned for more Viberide updates as VibeRide continues its journey after its appearance on Shark Tank.

In the meantime, you can check out more Company Updates on Shark Tank Season 15 Episode 10 by clicking on the links below:

• Dingle Dangle After Shark Tank Update
• Fishwife After Shark Tank Update
• Heather’s Choice After Shark Tank Update

Before you go, make sure to visit our Season 15 Company Updates Page, All Company Updates Page and Shark Tank All Products Page for more information on various companies and products featured in the Show.

At the same time, you can FOLLOW our blog to get the latest updates on businesses featured in Shark Tank Show. And, if you have any questions, you can send us message at your convenience.

Lastly, you can check out more Company Updates for the businesses featured in Shark Tank Season 14 by visiting our Season 14 Company Updates Page.