Shark Tank episode 921 featured Tony Chan selling CoolPeds, his electric scooter also a suitcase.
Chan designs, markets, and manufactures the scooters and electric bikes he sells on the CoolPeds website and manufactures and distributes them.
Chan raised slightly more than $20,000 on IndieGoGo for his various ventures between 2015 and 2017.
A scooter is a three-wheeled vehicle driven by an electric motor in its simplest form. You can attach a briefcase, backpack, or piece of carry-on luggage to the steering column.
Chan caters to the urban commuter who travels fewer than five kilometers to get to and from work.
The scooters are compatible with public transportation (buses and subways), so traveling around the city is convenient.
The cost was $479 each. You can also get an electric folding bike from Chan for $599.
Chan also promotes another product called the Ampere electric sports car. Ampere is a CoolPeds partner organization.
The two-seat sports car made its public premiere at the 2017 Los Angeles Auto Show. It was a big success.
Currently, it is available for pre-order for only $9900, which includes a complimentary electric bike.
According to their plans, they will begin production in the spring of 2018. Pre-orders were taken at the Consumer Electronics Show (CES) in Las Vegas in early 2018.
The car has a range of 150 miles on a single charge, making it ideal for zipping about town.
Chan hopes to gain a boost from the Sharks to power his electric automobiles. Will a Shark be interested in ratcheting things up and making an investment?
What Is CoolPeds?
The CoolPed is an eco-friendly and electrically powered vehicle that is both elegant and useful at the same time.
You can choose from 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.
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 a distance of 5 miles on a single charge.
|Company Name||Coolpeds USA|
|Product / Business||Electric scooter luggage that doubles as luggage|
|Investment Asking For||$250,000 for 5% equity in CoolPeds|
|Final Deal||No Deal|
|Episode||Season 9 Episode 23|
|Business Status||In Business|
Who Is The Founder Of CoolPeds?
Coolpeds USA was founded in conjunction with Ampere Motors by Tony Chan, its CEO, and co-founder.
Tony is a graduate of the University of California, Los Angeles, Magna cum Lauda program, and a general automotive enthusiast.
He was able to pay his college tuition by purchasing old automobiles, their restoration, and their resale.
Tony is still actively involved in the company, and he continues to operate 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, he hopes to increase its profitability.
Tony has always had a fascination for automobiles and has been involved in the construction or restoration of automobiles since he was seven years old.
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 rides into the room on a scooter with a bag attached to the front.
This is a fictional character who aspires to invent a new mode of transportation for the general public.
Lori and Barbara glance at Robert and comment that this appears to be something 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 specifically 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!
You can travel between a leisurely speed of 7 miles per hour and a maximum of 15 miles per hour with the bag readily removed.
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 itself is quite lightweight, and 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 on the planet 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 appeared on the Shark Tank seeking an investment of $250,000 in exchange for a 5 percent stake in CoolPeds.
He makes his pitch and then invites the Sharks to see the Ampere scooter when it is suddenly hidden onstage.
Kevin gives it a shot and comes dangerously close to injuring a stagehand. Robert inquires about what is hidden beneath the sheet, and Tony displays the Ampere automobile.
Kevin would like to know the sales figures for the scooters before proceeding with the rest of the conversation. In the last 18 months, he has generated sales of $500,000.
Costs for producing each scooter were estimated at $170, with a retail price of $399. On the other hand, the Ampere is still at the prototype stage.
It is the world’s first fully-electric sports automobile, and it will be available for purchase for less than $10,000. They’re following in the footsteps of Tesla, which began with a roadster.
Mark claims that they are selling the “cool factor” and that he would “be a fool to sell cool.” He is the first Shark to be thrown to the wolves.
Barbara believes that scooters in the airport would cause mayhem; thus, she will not be present. Lori would not know how to sell a car, so she is not in the picture.
Kevin claims that 5 percent doesn’t even motivate him to get out of bed in the morning and that Robert would make a better partner.
Robert claims that he can only invest in one of the two options, not both; he’s out.
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 is also making appearances 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 to occur in the spring of 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 of the complaints were about the packaging and shipment since two customers received damaged or defective items right out of 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
He had been running an unfulfilled IndieGoGo campaign for electric bikes two years ago when he taped this episode in February 2018. The Sharks nor I would have known this until after the episode.
Even though he raised $43,000 and changed, he never sent one bike to the recipients.
One customer received his money back due to the involvement of a consumer advocate, while the other four received bikes in 2019 that was defective to the point where they were dangerous to ride.
Chan has been barred from utilizing IndieGoGo’s platform as of right now.
Coolpeds are still accepting orders for the Ampere automobile as of June 2021, which seems suspicious.
Additionally, the company claims to sell electric scooters, electric suitcases, and electric moped scooters that all run on electricity.
The Facebook page of this company has not been updated since January this year.
According to a simple online search, customers who paid deposits for Ampere cars want their money back.
There have also been complaints to the Better Business Bureau about scooters that are not functioning properly or undrivable.
The company’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 are still in business as of March 2022. 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 making purchases 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. Oh, and if you purchase an Ampere now, you will also receive a free electric bike!