Have you ever considered riding an electric scooter to work? Well, Riley created an ideal remote-controlled, briefcase-sized personal car. No more lengthy public transportation, incredibly simple to operate in public.
Walk through the article and gather information about the product, its usage, and the owner.
Quick Facts
| Founders name: | Adam Riley |
| Business details: | Stand-up paddle board |
| Founded in: | 2013 |
| Location : | Australia |
| Asking of Company: | $20,000 for 10% equity |
| Accepted Deals: | $40,000 for 35% equity |
| Shark on board (Investors): | Janine Allis Andrew Banks |
| Shark Tank Episode: | Season 01 Episode 01 |
| Net Worth | $200,000 |
| Business Status: | Active |
| Last Updated: | Feb 24, 2024 |
| Social Media | Instagram |
About the Founder
Adam Riley is a chef by trade who enjoys skating and budget traveling. At the age of 15, he created his first motorized skateboard. Before pitching the Case Board to the Sharks, he had the idea for 23 years. He started skateboarding in 1983, and in 1987 he built his first skateboard. It is the final and fifth model that Riley and his team had been polishing appeared on the Tank.
In 1991, he produced Project CaseBoards, his first motorized skateboard. The most sophisticated electric skateboard in existence and 2012 witnessed the release of CaseBoards.
Founding the Case Boards
In 2013, Adam Riley founded the business Epic Skateboards. Case Boards are skating boards made with motors that can be folded neatly into the size of a briefcase. The thermoplastic shell is made of a mixture of acrylonitrile and butadiene and is quite spacious and safe to stand on. The owner claims that the skateboard has a top speed of 35 km/h.
The Case Board has regenerative brakes which mean that each time the operator applies the accelerator; some charge is restored to the board. It is controlled by a wireless hand transmitter that provides the rider with information about their speed, path, and braking.
Shark Tank Appearance
Initially, he asked for a $20 000 pledges in exchange for a 10% ownership. At the time, each item cost $500 for the general public. Riley requested a net amount of $20,000 for advertising and trade shows. Riley was able to establish a rapport with the Sharks and astound them with his skills.
Riley’s talent and the potential of the Case Board Company pleased Steve Banks and Janine Allis. Four sharks lured and accepted the offers. Riley could see the advantage of working with Andrew Banks because of his connections with American business people.
A deal with two Sharks is a bonus than with only one. Banks and Janine Allis were satisfied after Riley engaged in careful haggling. They agreed to put in $20,000 and hold a 17.5% share each in Riley’s company. Additionally, banks included a $80,000 credit to help with immediate liquidity.
After Shark Tank
The Case Board is the only item made by Adam Riley’s firm, Epic Skateboards, which is still operating today. Even now, the company sells electric scooters for about $2000. Seven distinct electric skateboard models with features are available. There are four different models of electric skateboards available right now.
Its popularity among skateboarders is looking for a more environmentally friendly mode of transportation. It has been aided by much favorable press coverage on technology websites. The brand is also endorsed by the renowned Tony Hawks. Adam Riley, the creator of Case Board, has a net worth of $600,000 as of 2022.