What Happened To Inboard Technology After Shark Tank?

The Shark Tank episode 807 features Ryan Evans, Dave Evans, and Chris Haley pitching their company, Inboard Technology, which manufactures innovative electric skateboards. 

The presentation focuses on their M1 Electric Skateboard, their flagship product. Our board is designed to do more than be an electric skate, says Inboard Technology. 

It is a complete environment that allows for third-party development, modification, and customization.” This means it functions smoothly regardless of whether the rider is propelled or not.

The M1’s heart is centered on its trademarked “Manta Drive.” This internal drive transmits power straight to the board’s rear wheels, resulting in the world’s smoothest electric skateboard ride.

It comes with interchangeable battery packs, ensuring that you’re never without power. The rider can reach a range of approximately 7-10 miles depending on their weight and how long it takes for the batteries to charge. 

The M1 is controlled by riders using a wireless portable remote or a companion smartphone app.

A board from Inboard Technology will cost you $1399.00. Additionally, the company sells totes, branded clothes, and charging accessories.

The company received substantial financial support through a successful Kickstarter drive that raised $421,935 for custom tooling and molds. Most orders are currently being shipped within a week after orders are placed with Inboard.

Shark capital is almost certainly needed to ramp up production on a larger scale.

Will a Shark invest in this venture?

What Is Inboard Technology?

Inboard Technology is a firm that manufactures electric skateboards that feature a hidden engine beneath the deck. 

The 37-inch-long board is used similarly to a standard skateboard and can support riders weighing 250 pounds.

Inboard Technology Shark Tank Update

The M1 Electric Board from Inboard has a top speed of 24 mph and a range of up to ten miles before requiring a charge, which takes about 90 minutes.

Company NameInboard Technology
EntrepreneurChris Harley, David Evans, and Ryan Evans
ProductScooters and skateboards that run on electricity
Investment Asking For$750,000 For 4% equity in Inboard Technology
Final Deal$750,000 Loan At 9% Interest + 4% Equity
SharkKevin O’Leary and Lori Greiner
Episode Season 8 Episode 10
Business StatusIn Business
WebsiteVisit Website

Who Is The Founder Of Inboard Technology?

Inboard Technology was founded and proposed to Shark Tank in December 2016 by three Santa Cruz entrepreneurs, Ryan Evans, Dave Evans, and Chris Harley.

Inboard Technology requested $750,000 for 4% equity. They had received pre-orders totaling $5.6 million.

Inboard Technology Before Shark Tank

Several entrepreneurs have entered Shark Tank with the promise to introduce a new mode of transportation. Zoom in on numerous people on illuminated skateboards.

The three of them are from Santa Cruz, California: Ryan Evans, Dave Evans, and Chris Haley. In the Shark Tank, Inboard Technology is seeking a $750,000 investment in exchange for 4% of their company, valued at $18.750 million.

It’s difficult to travel in cities – crowded public transportation, gridlocked traffic in your car, and just when you think you’ve broken the system by riding your bike to work, you arrive looking like a hot, sweaty mess.

Their solution is an M1 skateboard. The M1 has a top speed of 20 mph and a range of seven to ten miles. You can ride safely at night with their integrated headlights and taillights.

They do not use belts or gears and require no maintenance because their motors are in-wheel. All this while maintaining a genuine skateboard’s appearance and feel.

The M1 weighs 14 pounds, making it easy to transport into an elevator. They can all agree that parking won’t be an issue.

Public transportation is on the cusp of being transformed by inboard technology. Riding the M1 is a pleasurable, straightforward, and exciting experience. It’s cheaper than auto insurance, too!

Which Sharks are interested in partnering with Inboard Technology and riding the M1? Kevin, as well as Robert, enthusiastically volunteer.

How Was The Shark Tank Pitch Of Inboard Technology?

Ryan, Dave, and Chris enter the business wanting $750,000 for a 4% stake. They share their narrative and ask Sharks to experience it for themselves. Kevin and Robert offer their assistance.

Kevin zooms down the hall and back with the remote. He enjoys it. When the amusement wears off, the inquiries begin.

Mark’s inquiry is answered by stating they have raised $2.7 million at a valuation of $10 million.

Lori inquires whether it can go uphill, and the answer is yes; also, when going downhill, the motors work as brakes and charge the battery. Robert believes it is a toy rather than a car. Mark believes it is too specialized.

They earn a marginal profit of 65 percent on a $1399 board. To date, global pre-orders of $5.6 million have been collected, delivered by the end of the year.

Kevin offers a three-year loan of $750,000 at an interest rate of 8% plus a 2.5 percent equity participation.

Robert, Chris, and Mark are all out of money, but Lori offers them a $750,000 loan at 8% interest for a 3% equity stake.

Kevin and Lori go to the hallway to discuss it, and when they return, they have made a deal to offer the same loan conditions but with a 5% equity stake.

The parties eventually settled on a $750,000 loan at 10% interest for three years in exchange for a 3% equity investment.

What Happened To Inboard Technology After Shark Tank?

The Inboard M1 Electric Skateboard is now available at Best Buy locations across the United States! 

The skateboards are indeed being sold for a substantial discount during 2017’s Black Friday and Cyber Monday sales, from $1,399 to $999.

A one-year guarantee backs each M1. Additionally, you can acquire an M1 electric skateboard directly from the Inboard Technology website, which offers unique financing options of up to 18 months.

The order includes the M1 Electric Skateboard, the USB-charged RFLX (pronounced ‘reflex’) remote, the PowerShift Battery and Charger (charges in 90 minutes), an inboard skate tool, and a soft carrying bag.

You can fine-tune the wheel’s angle with the skate tool, and you can also customize your ride. Unsurprisingly, several cycling enthusiast shops have begun carrying the M1.

Lori and Kevin’s role in all of this is difficult to comprehend, considering the team previously stated that they were in discussions with Best Buy. Still, they undoubtedly contributed to the M1’s success.

If you want to watch the M1’s progress, you should keep an eye on the Inboard Technologies website; it appears to be most popular in the California region of the United States.

Inboard Technology Shark Tank Update

Kevin and Lori’s deal never went through. M1 was selling like hotcakes for a few years before the budget crisis.

An electric scooter contract with a European manufacturer led to the company’s pivot into electric scooters.

Inboard Technology Shark Tank Update

The scooters were developed for $8 million by the company. In 2019, the company was liquidated by creditors due to the deal’s failure.

Is Inboard Technology Still In Business?

Inboard has won $8 million in a new round of venture capital funding led by Los Angeles-based Upfront Ventures one year after appearing on Shark Tank.

Best Buy has added Inboard’s M1 to more than 200 locations, where it continues to receive rave reviews.

Electric Skateboard Reviews described the Inboard M1’s design as “revolutionary,” adding, “We just cannot speak highly enough of this model.”

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