Have you ever enjoyed both a theme park along a workout program simultaneously? With SkyRide, I believe that all of your goals will be fulfilled. Among the greatest significant as well as original proposals ever introduced to the marketplace is Skyride.
The thrust to gain popularity for the company made Scott, the owner appear on Shark Tank. Though his luck did not favor him on the pitch, did it achieve the exposure? All The details are given below, Read and explore!
Quick Facts
| Founders name: | Scotty Olson |
| Business details: | Human-powered roller coaster |
| Founded in: | 2011 |
| Location : | Waconia, Minnesota, USA |
| Asking of Company: | $3,000,000 for 20% |
| Accepted Deals: | No Deal |
| Shark on board (Investors): | None |
| Shark Tank Episode: | Season 03 Episode 13 |
| Net Worth: | $15 Million |
| Business Status: | Active |
| Last Updated: | Mar 15, 2024 |
| Social Media: | Instagram |
About the Founder
You might all know Scott Olson, who was Roller Blades’ creator in the 1990s. After more than twenty-five years of enjoying prosperity, with his initial manufactured innovation, he diligently worked on perfecting his second concept, Skyride.
SkyRide was founded in 2012. Olson wanted to make it like Roller Blades, an enjoyable way to encourage people to come outside and work out.
Founding the SkyRide
Users of Skyride can take flight while zooming down the pathway in pods that have power provided by humans or by the force of gravity. It was intended to represent a pleasant method to work out.
The user rides across the track resembling an aerial roller coaster while harnessed into a pod or vehicle. Variations of these pods exist that let individuals alter tracks, just moving their bodies around.
Previously, Skyride was advertised as a vacation spot and an indoor amusement option. Since it was first implemented, it has expanded to include leases for commercial and group excursions as well as easy accessibility for tourists.
Shark Tank Appearance
Scott made an appearance on the show, Shark Tank and confidently requested $3 million equity for 20% of his company’s share. During this time, the valuation of the company was $15 million.
Olson could not find a partner who could give him the agreement he wanted. The pitch itself did not work out. The fact that they were completely encircled by the man who created rollerblades was bound to amaze every Shark. However, neither of them seemed eager to risk their money on a proposition that was still not commercialized. Olson was not provided with an offer by any of the sharks because they said the organization failed to attract customers and was not profitable.
Despite not receiving the required funds, Skyride launched into the air, Olson requested an excessive amount of money for a startup business. Olson did not receive the $3 million he requested, but it continued to be his business from starting up and expanding.
After Shark Tank
Although Scott Olson did not succeed in getting a deal on the Shark Tank show, his company is still doing well. Before appearing on the show, Shark Tank, the company’s projected worth was $1.5 million.
Additionally, Scott and the Good received a lot of publicity after their Shark Tank debut since several viewers felt they suffered inappropriately.
Recently, the total projected worth of the company is more than $20 million. But as of 2024, SkyRide has a total worth of $15 million.