Sway Motorsports Shark Tank Net Worth

Sway Motorsports is a California-based company that appeared on Season 6 of the television show “Shark Tank,” pitching an innovative product to revolutionize the urban transport system. 

Sway Motorsports product is an all-electric, three-wheeled vehicle known simply as the Sway. The Sway is designed stylishly and offers an interesting alternative to conventional two-wheel scooters or motorcycles.

Sway’s patented ‘Sway Tilt’ technology is one of its most distinctive features. Unlike traditional scooters or motorcycles, which require the rider to balance and steer primarily using the handlebars, the Sway allows riders to control their movements by leaning in the direction they wish to go, similar to the motion used when skiing. 

This provides a fun, intuitive, and engaging riding experience, and the inherent stability of the three-wheel design can make it safer and more accessible to a wider range of riders.

Sway Motorsports has a powerful lithium-ion battery, providing an impressive range. The vehicle can reach up to 55-70 mph (depending on the model), with a range of approximately 40-60 miles per charge.

The electric powertrain offers a clean, environmentally friendly alternative to gas-powered vehicles, making it a more sustainable choice for urban mobility.

Another appealing feature of Sway Motorsports is its compact design. It’s slim enough to fit in the bike lane and even through a standard doorway, making it easier to park and store in urban environments where space is a premium. 

Regarding safety features, the Sway has disc brakes for responsive stopping power and LED headlights for better visibility. The lower seating position and three-wheel layout offer increased stability over conventional two-wheeled scooters or motorcycles.

Sway Motorsports presents a compelling choice for those seeking an alternative to traditional urban transport. Its innovative design, engaging ride dynamics, and environmentally friendly performance position it as a forward-thinking solution to personal mobility. 

The Sway’s emphasis on user-friendliness and safety makes it an accessible and enjoyable choice for many riders, from the everyday commuter to the adventurous explorer.

Company NameSway Motorsport: Electric Scooter
FounderJoe Wilcox
ProductScooters with three wheels powered by electricity
Investment Seeking$300,000 For 10% equity in Sway Motorsport
Final Deal$300,000 For 20% equity in Sway Motorsport
SharkMark Cuban
Sway Motorsports EpisodeSeason 6, Episode 29
Sway Motorsports Business StatusOut Of Business
Sway Motorsport WebsiteVisit Website

What is Sway Motorsports?

Sway Motorsports is an electric vehicle company that produces a three-wheeled electric scooter with no pedals designed to meet the needs of city dwellers bored of traditional bicycles and scooters.  

The Sway Motorsports scooter has a unique leaning mechanism that allows riders to turn by shifting their weight, similar to riding a skateboard or snowboard.

It also has a top speed of 60 miles per hour and can travel up to 40 miles on a single charge. The scooter has a powerful electric motor and a removable battery pack for easy charging. 

In addition to its innovative design, Sway Motorsports is committed to sustainability and reducing carbon emissions, making it a great choice for environmentally conscious consumers. 

Sway Motorsports Shark Tank Net Worth

With its sleek and modern design, the Sway Motorsports scooter will turn heads and revolutionize how we think about urban transportation. 

The Sway Motorsports scooter is a cutting-edge electric vehicle with a powerful electric motor and a removable battery pack for hassle-free charging. 

Not only is this scooter incredibly innovative, but it is also environmentally friendly and perfect for individuals who prioritize sustainability and reducing carbon emissions. With its sleek and modern design, the Sway Motorsports scooter will attract attention and transform how we approach urban transportation.

The Sway is easy to operate and can be used on snow, mud, and ice. The unique design allows for more control over the ride while keeping riders safe and secure. The Sway Lithium and Sway Lithium Plus models retail for $7,999 and $10,999, respectively.

Who Is The Founder Of Sway Motors?

Joe Wilcox is the founder of Sway Motorsports. Wilcox, an industrial designer by trade, has a diverse background and a deep passion for clean, efficient transportation solutions.

Before establishing Sway Motorsports, Wilcox earned a Bachelor’s degree in Industrial Design from Rhode Island School of Design, one of the most prestigious design schools in the United States. 

His professional journey includes designing consumer electronics for notable brands and designing electric vehicles, demonstrating his expertise in both product design and the electric vehicle market.

The idea for Sway Motorsports was conceived when Wilcox recognized the need for a more efficient, fun, and environmentally friendly mode of transport.

Living in San Francisco, he understood the unique challenges of urban transportation: heavy traffic, difficulty finding parking, and pollution caused by gas-powered vehicles. 

While motorcycles and scooters were more efficient than cars in terms of space and fuel efficiency, they lacked the stability and ease of use to make them accessible to a broader range of people.

Drawing on his design expertise, Wilcox saw an opportunity to innovate. He envisioned a vehicle that combined the compact efficiency of a scooter with the stability of a tri-wheel design, along with the fun, intuitive control method of leaning to steer – much like snowboarding or skiing. This vision came to life as the Sway, a three-wheeled, all-electric, lean-controlled scooter.

Sway Motorsports has been driven by Wilcox’s commitment to creating a more sustainable and enjoyable means of transportation. His innovative approach to design and his belief in the potential of electric vehicles have been key to the success of Sway Motorsports.

Sway Motors Before Shark Tank

Before appearing on Shark Tank in its sixth season, Sway Motorsports had already made some strides in electric transportation. Joe Wilcox, the founder, had spent considerable time refining the design and performance of the Sway, his three-wheeled, electric scooter. 

Wilcox worked tirelessly on the prototype, leveraging his industrial design background to ensure the scooter was functional, efficient, aesthetically pleasing, and enjoyable. 

A significant part of this phase was perfecting the patented ‘Sway Tilt’ technology, a unique leaning mechanism that set the vehicle apart from conventional scooters and motorcycles.

The company has also started generating buzz in electric vehicles and transportation. The Sway had been presented at a few trade shows and industry events where it had caught the eye of investors and customers alike. 

Despite these early accomplishments, Sway Motorsports was still in its infancy and faced the common startup challenges of funding and scaling production. The company needed additional investment to manufacture at a larger scale, improve the battery life and range of the Sway, and expand marketing efforts to reach a broader audience.

This was the state of Sway Motorsports before their appearance on Shark Tank. Wilcox pitched the Sway to the Sharks, hoping to gain the funds and exposure he needed to take his innovative electric scooter to the next level.

Sway Motorsports Shark Tank Net Worth

The Sway Motorsports Shopify page lists two distinct models. Sway Lithium and Sway Lithium Plus retail for $7999 and $10,999, respectively; the Sway Lithium will retail for $7999. 

They’re only producing 300 units in this initial production run for 2015, so you’ll want to get on the list ASAP if you want to be one of the first in your community to own a Sway Electric Bike. They’re almost gone when Shark Tank Season 6 concludes this Friday night.

How Was The Shark Tank Pitch Of Sway Motors?

Joe Wilcox, the founder of Sway Motorsports, appeared on the sixth season of Shark Tank, where he presented his innovative product, the Sway, an all-electric, three-wheeled, lean-controlled scooter.

Wilcox entered the tank seeking a $300,000 investment in exchange for a 10% equity stake in his company, valuing Sway Motorsports at $3 million.

He began his pitch by addressing the urban transportation problem – congestion, pollution, and the lack of parking spaces. He then introduced the Sway as a fun, efficient, and environmentally friendly solution.

In his pitch, Wilcox highlighted the unique features of the Sway. He emphasized the patented ‘Sway Tilt’ technology, which allows riders to control the scooter by leaning rather than using a steering wheel or handlebars.

This feature, he explained, gives the Sway a natural and intuitive feel, similar to skiing or snowboarding, making it fun and easy to use.

He also discussed the electric nature of the Sway. With a powerful lithium-ion battery, the scooter can reach speeds up to 55-70 mph and offers a range of 40-60 miles on a single charge. 

Wilcox underscored the environmental benefits of this electric design, positioning the Sway as a sustainable alternative to gas-powered vehicles.

To demonstrate the Sway’s capabilities, Wilcox offered the Sharks a chance to try it. This hands-on demonstration allowed the Sharks to experience the scooter’s unique leaning mechanism and smooth, responsive performance.

Throughout his presentation, Wilcox faced a range of questions from the Sharks. They were interested in understanding the unit economics, the target market, the manufacturing process, and the patent protection around the ‘Sway Tilt’ technology.

Wilcox confidently addressed these inquiries, providing clear and concise answers demonstrating his deep understanding of his product and the market.

By the end of his pitch, Wilcox had successfully conveyed the potential of Sway Motorsports and its product, setting the stage for negotiating and decision-making with the Sharks.

Final Deal: Mark Cuban agreed to invest $300,000 for a 20% stake in Sway Motorsports. 

What Happened To Sway Motorsports After Shark Tank?

After appearing on Shark Tank, Sway Motorsports faced several challenges and setbacks. Despite the initial hype and interest generated by the show, the company needed help in bringing their Sway Lithium Trikes to the market.

The Sway Lithium was initially scheduled for release in the summer of 2016. However, there is no further information available regarding its availability. The website mentions the possibility of requesting dealers and obtaining additional information about the launch, but it needs to confirm whether the Sway Lithium can be purchased.

In 2017, two years after the Shark Tank episode aired, the founder of Sway Motorsports, Joe Wilcox, expressed the need for a financial partner to make the Sway Lithium and Sway LithiumPlus more affordable to consumers. 

Despite ongoing operations and testing, Joe confirmed that the product had never been manufactured nor made available to the public. Sway Trikes were unique in requiring users to sway to operate them.

Sway Motorsports Shark Tank Net Worth

This innovation garnered significant interest from the target demographic, resulting in large deposits from prospective clients. However, the company faced challenges in mass-producing motorcycles, leading to further delays and difficulties in fulfilling customer orders.

Despite these hurdles, the net worth of Sway Motorsports has increased from $3 million when it appeared on Shark Tank to $5 million. This suggests that the company has managed to generate value and attract investment, even though its products’ actual production and availability still need to be determined.

In summary, Sway Motorsports faced obstacles in bringing their Sway Lithium Trikes to market after appearing on Shark Tank. While the company has remained operational, the product has never been manufactured or made available for purchase. 

Mass production and fulfillment challenges have hindered the company’s progress, despite the increased net worth and ongoing interest from investors.

Sway Motors Shark Tank Update

In 2015, Joe Wilcox pitched his company, Sway Motorsports, on Shark Tank. He was seeking $300,000 for 10% of his company. Sway Motorsports was developing a three-wheeled electric scooter with a patented sway-tilt control system. 

The sharks were impressed with the scooter, but they were concerned about the company’s lack of experience and the high cost of manufacturing. Mark Cuban offered Joe $300,000 for 20% of the company, but the deal never closed.

Sway Motorsports never went into production. The company’s website is still up but has not been updated since 2017. Joe Wilcox has not made any public statements about the company’s status.

There are a few possible explanations for why Sway Motorsports failed. One possibility is that the company was simply too ambitious.

The scooter was a complex product requiring much engineering and manufacturing expertise. Sway Motorsports may not have had the resources to bring the product to market.

It is also possible that the company was unable to secure funding. Mark Cuban’s offer was the only Sway Motorsports received on Shark Tank. The company may have been unable to find other investors willing to take on the risk of a new, unproven product.

Whatever the reason, Sway Motorsports is one of the many companies that have failed after appearing on Shark Tank. The show is a great platform for entrepreneurs to get exposure and raise money, but it’s not a guarantee of success.

Is Sway Motors Still In Business?

No, Sway Motorsports is no longer in business. The company was founded in 2013 by Joe Wilcox, who appeared on the Shark Tank TV show in 2017. He pitched his three-wheeled electric scooter to the Sharks, and Mark Cuban agreed to invest $300,000 for 20% of the company. 

However, the deal never closed, and Sway Motorsports shut down in 2018. The company’s website is no longer active, and its social media accounts have been inactive for several years.

There are a few possible reasons why Sway Motorsports failed. One possibility is that the company was simply ahead of its time. The three-wheeled electric scooter was a new and innovative product that may not have been ready for the mass market yet. 

It is also possible that the company could not secure sufficient funding to market its product. Finally, it’s also possible that the company simply made some bad decisions along the way.

Whatever the reasons, Sway Motorsports is no longer in business. However, the company’s failure does not mean a market for three-wheeled electric scooters exists.

Many other companies are now producing and selling these types of vehicles. So, while Sway Motorsports may be gone, the future of the three-wheeled electric scooter looks bright.

What Is the Net Worth Of Sway Motorsports?

The net worth of Sway Motorsports is $0 since the company is out of business. The valuation of Sway Motorsports was $1.5 million after securing an investment from Mark Cuban on season 06 of Shark Tank.

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