CoolPeds Shark Tank Update | CoolPeds Net Worth

CoolPeds is a company that specializes in creating innovative, compact, and portable electric transportation solutions, primarily electric scooters and e-bikes.

The company focuses on designing lightweight, easy-to-carry, and foldable products, making them ideal for urban commuters and people with limited storage space.

CoolPeds has been known for its popular products like the CoolPeds iBike and CoolPeds e-scooter. Shark Tank season 09, episode 21 featured Tony Chan presenting CoolPeds to Sharks, his electric scooter, and a suitcase.

Company NameCoolpeds USA
EntrepreneurTony Chan
Product / BusinessElectric scooter luggage that doubles as a luggage
Investment Asking For$250,000 for 5% equity in CoolPeds
Final DealNo Deal
SharkNo Shark
Episode Season 9, Episode 23
Business StatusIn Business
WebsiteCoolpeds Website

What Is CoolPeds?

The CoolPed is an eco-friendly, electrically powered, elegant, and useful vehicle. You can choose electric scooters and mopeds, a briefcase-attachable electric scooter, and an electric three-wheeled motorbike, which is street legal in many jurisdictions if you have the proper license and wear a helmet.

CoolPeds Shark Tank Update | CoolPeds Net Worth

Scooters are easy to transport by bus and metro, making them one of the best modes of transportation for traveling around the city. It is considered very efficient when a USB power cord can cover 5 miles on a single charge.

Who Is The Founder Of CoolPeds?

Coolpeds USA was founded with Ampere Motors by its CEO and co-founder, Tony Chan. Tony is a graduate of the University of California, Los Angeles, Magna cum Lauda program, and a general automotive enthusiast.

He could pay his college tuition by purchasing old automobiles, their restoration, and their resale. Tony is still actively involved in the company and continues operating from his office and showroom in Santa Monica. He also sells his things online, and he ships his wares worldwide.

As the company expands its global footprint in the electric vehicle market, it hopes to increase its profitability. Since he was seven years old, Tony has always been fascinated with automobiles and involved in the construction or restoration of automobiles.

In addition, he has always had a strong interest in environmentally friendly transportation and technology. Thus, he decided to combine his two passions. He began designing the first model of his electric scooter as a result.

He got the ball rolling by crowdsourcing on IndieGoGo, where he raised more than $40,000 over three years. Additionally, he worked with the Ampere Motor Company during this period. This company produces electric vehicles.

Coolpeds unveiled a prototype of their three-wheeled sports motorcycle, which can be purchased for $9900.00 on the Coolpeds website at the 2017 Los Angeles car show. 

They began accepting deposits for orders in early 2018, with production anticipated later in the year. Tony decided to look for additional investors to expand his business.

CoolPeds Before Shark Tank

Shark Tank contestants ride into the room on a scooter with a bag attached to the front. This fictional character aspires to invent a new mode of transportation for the general public.

Lori and Barbara glance at Robert and comment that this is tailored specifically for him. They even make remarks on how convenient it would be to use it to travel to an airport. The concept is straightforward: a scooter with a plastic container mounted on the front.

Hello, my name is Tony Chen, and I’m calling from Los Angeles, California. CoolPeds USA is the name of his company, and he is looking for a $250,000 investment in exchange for a 5 percent stake in the company.

Tony creates and manufactures the world’s most stylish and lightweight electric vehicles. For example, the world’s first lightweight electric scooter was designed for tourists.

You can take it to and from the railway station, to and from the parking lot, around a large campus, and even to the boarding gate at the airport. It is also available for hire.

You can do all this without carrying a bulky bag, and you’ll enjoy your commute! With the bag readily removed, you can travel between a leisurely speed of 7 miles per hour and a maximum of 15 miles per hour.

They also have electric braking, which means charging the battery when you brake. This device features a removable battery that can be easily charged virtually anywhere, and you can even charge your phone with the USB plug while you’re on the go.

The scooter is lightweight; Tony demonstrates this by folding it in on itself. It is one of the world’s lightest electric scooters, weighing little under 11 pounds and measuring just under 11 inches in length.

Tony’s objective is to provide everyone with enjoyable, dependable, and inexpensive green transportation options that are environmentally friendly.

Which of the Sharks would like to come up and scoot around with the CoolPeds United States of America?

How Was The Shark Tank Pitch Of CoolPeds?

Tony Chan appeared on the Shark Tank requesting an investment of $250,000 in exchange for a 5 percent stake in CoolPeds.

CoolPeds appeared on Shark Tank in Season 9, Episode 23, originally aired on February 25, 2018. Tony Chan, the founder of CoolPeds, pitched his product, the CoolPeds Briefcase Electric Scooter, to the Sharks.

The briefcase electric scooter was designed to be an innovative, lightweight, and portable personal transportation solution that combines a scooter with a briefcase.

Tony Chan sought an investment of $250,000 in exchange for 5% equity in the company. However, the Sharks expressed concerns regarding the product’s marketability, safety, and target audience.

They were not convinced that the briefcase scooter would appeal to a broad range of consumers or be practical for everyday use. Additionally, some Sharks expressed concerns about the scooter’s stability and safety features.

Ultimately, none of the Sharks made an offer, and Tony Chan left without a deal. The appearance on Shark Tank, however, provided exposure for CoolPeds, which likely helped the company gain recognition and attract customers interested in its innovative products.

Final Deal: No deal between Sharks and CoolPeds.

What Happened To CoolPeds After Shark Tank?

CoolPeds is still in existence, even though the website appears to be crude and amateurish at the very least. The Shark Tank featured Briefcase Electric Scooter is normally offered for $499, but it is currently available for $399 to coincide with the showing on ABC.

Additionally, they provide two other items, the Ampere Electric Roadster and the iBike. iBike’s 350-watt hub motor and electronic braking system make it an electric bicycle with several innovative features.

A small folding design makes it ideal for transporting the iBike. All of this is contained within a carbon steel frame. The bike can be used regularly, or you can use the 350-watt motor to pedal at speeds of up to 20 miles per hour and for a distance of up to 20 miles on a single charge.

The grips are equipped with an accelerator, similar to a motorcycle. The device is available for purchase for $499. Ampere Electric Roadster is a standalone product with a link that will take you to a brand-new website.

According to the manufacturer, the electric vehicle has a price tag of $9,900 and a range of up to 150 miles. The vehicle also appears at auto and motor exhibitions, as seen by its appearances on several local news programs.

You will also receive a discount on the reserve price of $199 when you preorder the electric suitcase scooter. Ampere advertised a public test drive event scheduled for spring 2018; however, there is no information on this event.

Coolpeds’ electric briefcase scooter was offered for purchase on Amazon, where it garnered a dismal 3.9-star rating based on only seven customer reviews.

Most complaints were about the packaging and shipment since two customers received damaged or defective items from the package. Another complains that the quality is poor and the unit is flimsy, despite being acquired in 2015.

The CoolPeds electric suitcase scooter can be purchased directly from the company’s website rather than through Amazon.

CoolPeds Shark Tank Update

Coolpeds are still accepting orders for the Ampere automobile, which seems suspicious. 

The company also claims to sell electric scooters, suitcases, and moped scooters running on electricity. The Facebook page of this company has not been updated since January 2021.

CoolPeds continued its operations after its appearance on Shark Tank. Although Tony Chan did not secure a deal with the Sharks, the exposure from the show likely helped raise awareness about the brand and its products.

CoolPeds Shark Tank Update | CoolPeds Net Worth

Following the show, CoolPeds continued to develop and market electric scooters and e-bikes. They have worked on improving their existing products and launching new ones.

The company has focused on creating lightweight, portable, and foldable electric transportation solutions that cater to urban commuters and people with limited storage space.

CoolPeds’s official website no longer offers a “contact us” option, and its products are no longer available on Amazon.

Is CoolPeds Still In Business?

CoolPeds and Ampere are both still in business. There are still Coolpeds goods available for purchase on the Coolpeds website, and the Coolpeds website is still up and running.

On the other hand, customers are being cautioned against purchasing from the website, as they risk losing their money without recourse for a refund.

Amperes is being offered for sale by Chan for $9,900. He is accepting bookings for the automobile, which he hopes to produce this spring, in exchange for a $200 deposit that is fully refundable.

You may book an Ampere electric roadster right now by visiting the reservation website for the Ampere electric roadster. If you purchase an Ampere now, you will also receive a free electric bike!

What Is the Net Worth Of CoolPeds?

The valuation of CoolPeds was $5 million when it appeared on Shark Tank. The net worth of CoolPeds is estimated to be $5 million.