SMART Tire Company Shark Tank Net Worth

SMART Tire is a groundbreaking airless tire company that made its debut on episode 10 of Shark Tank’s 13th season. These tires are crafted from a cutting-edge material called nitinol, a shape memory alloy originally developed by NASA for space rovers.

SMART Tires’ composition of nickel and titanium allows them to deform and spring back to their original shape, offering exceptional durability and shock absorption without the need for air. It prevents flat tires and reduces tire waste greatly by minimizing tire waste.

SMART Tire’s commitment to environmental sustainability, innovative technology, and partnerships with industry giants like NASA, Hyundai, and Kia make it a compelling choice for those seeking high-performance, eco-friendly tire solutions.

Company Name	The SMART Tire Company
Founder	Earl Cole and Brian Yennie
Product	Airless tires that reduce fuel consumption
Investment Seeking	$500,000 for 2.5% Equity
Final Deal Accepted	No Deals
Shark Name	No Sharks
Episode	Season 13, Episode 10
Business Status	In Business
Website	SMART Tire Company Website
Net Worth	$25Million  *estimated

What Is SMART Tire Company?

The SMART Tire Company is a company that commercializes shape memory alloy tire technology originally developed by NASA for terrestrial use.

Their superelastic tires made from a special material called NiTinol+, are airless, durable, and designed never to go flat.

These tires are designed to revolutionize the tire industry by offering innovative solutions for vehicles on and off-road, providing enhanced performance and durability.

The company aims to bring NASA’s space-age tire technology back to Earth for various applications, starting with airless bicycle tires and expanding to other vehicles like automobiles, trucks, and aerospace vehicles.

SMART Tire Company’s focus is on developing sustainable, long-lasting tires that contribute to a more socially conscious global footprint by addressing issues such as waste reduction and fuel efficiency in the tire manufacturing industry.

Who Is The Founder Of SMART Tire Company?

The founders of SMART Tire Company are Earl Cole and Brian Yennie. Earl Cole, a multi-talented individual with experience in various fields like TV hosting, producing, and entrepreneurship, gained fame by winning Survivor: Fiji in 2007.

On the other hand, Brian Yennie, a serial entrepreneur and software engineer, has a background in creating online platforms and blockchain technology.

Earl and Brian came together as serial entrepreneurs with a shared vision for innovation. Drawing from their diverse backgrounds, they leveraged their expertise to reimagine traditional tire technology.

SMART Tire Company was founded with the vision of revolutionizing the tire industry by incorporating the Shape Memory Alloy (SHA) technology from NASA’s space rovers into everyday transportation.

Before their appearance on Shark Tank, SMART Tire Company was in the developmental phase, focusing on METLTM (Martensite Elasticized Tubular Loading) tires for bicycles.

Partnering with industry leaders like Felt Bicycles and Spin, they conducted research, refined materials, and enhanced tire performance.

The company’s innovative approach to tire manufacturing is based on sustainability, durability, and performance.

How Was The Shark Tank Pitch Of SMART Tire Company?

• Founders: Brian Yennie and Earl Cole
• Product: High-performance airless tires made with NASA-inspired nitinol technology
• Investment Seeking: $500,000 for 2.5% equity
• Final Deal: No deal

The SMART Tire Company’s Brian Yennie and Earl Cole pitched an airless tire crafted using nitinol technology inspired by NASA during their Shark Tank pitch.

The founders were seeking $500,000 for a 2.5% equity stake in an effort to transform the tire industry with sustainable, long-lasting tires.

While the sharks were intrigued by the cutting-edge technology, they expressed concerns about the business strategy and clarity on execution.

The founders’ inability to provide concrete details regarding the operational aspects of the company, coupled with the high price range of $2,500 to $3,500 per set of tires, led to a unanimous decision by all sharks not to invest in SMART Tire Company.

Consequently, Brian and Earl left the tank without a deal. The table below summarizes the investment offers made by each shark and the outcome of the pitch:

Sharks’ Views:

• The sharks were impressed by the innovative technology but were concerned about the business execution.
• The founders failed to provide clear answers regarding the business side of the company.
• The high cost of the tires ($2,500 to $3,500 per set) deterred the sharks from investing.

Investment Offers:

1. Mark Cuban: No Offer
2. Lori Greiner: No Offer
3. Kevin O’Leary: No Offer
4. Barbara Corcoran: No Offer
5. Kevin Hart: No Offer

Shark	Investment Offered	Counter Offer by Founders	Final Deal Accepted
Mark Cuban	No Offer	–	–
Lori Greiner	No Offer	–	–
Kevin O’Leary	No Offer	–	–
Barbara Corcoran	No Offer	–	–
Kevin Hart	No Offer	–	–

Did SMART Tire Company Get a Deal on Shark Tank?

The SMART Tire Company, founded by Earl Cole and Brian Yennie, appeared on Shark Tank Season 13 Episode 10 seeking $500,000 for a 2.5% equity stake at a $20 million valuation.

However, they did not secure a deal on the show. Despite not receiving investment from the sharks, the company continues to operate and is working on launching innovative products in the tire industry.

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What Happened To SMART Tire Company After Shark Tank?

The SMART Tire Company, founded by Brian Yennie and Earl Cole, faced challenges after appearing on Shark Tank due to their high pricing strategy and lack of a clear business model.

Despite not securing investment from the sharks, the company continued its operations and sought investors through crowdfunding.

As of now, the SMART Tire Company is still in business and actively looking for funding to develop its innovative tire technology further.

The company’s flagship product, a super-elastic car tire made from Nitinol, a shape memory alloy, promises durability, elasticity, and the ability to withstand extreme conditions without the risk of going flat.

This unique technology sets SMART apart from traditional tire manufacturers, offering a potential game-changer in the industry.

Additionally, SMART is set to launch its first commercial product, an airless bicycle tire called METL, based on the same innovative technology.

Despite facing initial skepticism and challenges, SMART Tire Company remains resilient and focused on bringing its revolutionary tire products to the market.

The company’s net worth and overall success are closely tied to securing the necessary funding to scale its operations and make its products widely available to consumers.

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SMART Tire Company Shark Tank Update

After appearing on Shark Tank, The Smart Tire Company faced challenges as they did not secure an investment from the sharks.

Despite the setback, the company continued its operations and focused on further developing its innovative airless tire technology.

The company embarked on equity-based crowdfunding campaigns on platforms like StartEngine and Wefunder. By April 2022, they had raised a total of $79,165.98 on StartEngine.

On Wefunder, they aimed for a $50 million pre-money valuation and had raised $400k by January 2, 2022, with a goal of reaching $4.9 million.

The Smart Tire Company has patented six different products and has four prototypes in progress.

Their flagship product, the airless bicycle tire METL, is set to be launched by Q1 2023 with a price range of $100 to $150. The company aims to revolutionize the tire industry with its innovative technology.

Despite the initial setback on Shark Tank, The Smart Tire Company remains determined to bring its products to market.

They have garnered interest from various countries and are actively engaging with their audience through crowdfunding campaigns and social media platforms.

The Smart Tire Company is still in business. They have been actively working on different products and have made significant progress in their tire development.

During their Shark Tank appearance, the company sought a $20 million valuation. Subsequently, they launched equity-based crowdfunding at a $50 million valuation in April 2022.

The global tire market’s rapid growth, projected to reach $1 trillion by 2023, presents significant opportunities for The Smart Tire Company to establish itself as a key player in the industry.

The Smart Tire Company is still in business, actively pursuing its goal of transforming the tire industry with its innovative airless tire technology.

Despite the challenges faced on Shark Tank, the company has continued to make strides in product development and fundraising efforts, positioning itself for future success in the market.

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What Is the Net Worth Of SMART Tire Company?

According to our research, the net worth of SMART Tire Company is estimated to be $25 million. The valuation of SMART Tire Company was $20 million when it appeared on season 13 of Shark Tank.