Highlights
- Scott Olson, inventor of Rollerblades, pitches Skyride, a human-powered elevated monorail system, seeking $3 million for 20% equity.
- Despite the innovative concept, the Sharks express concerns about scalability, construction challenges, and lack of consumer sales.
- Olson leaves without a deal, but Skyride later finds success as a popular attraction on Carnival Cruise Ships, generating $900,000 in annual revenue by 2021.
Overview
| Category | Details |
|---|---|
| Name | Skyride |
| Founder | Scott Olson |
| Industry | Transportation & Recreation |
| Product | Human-powered elevated monorail system |
| Funding Sought | $3 million |
| Investment Ask | $3 million |
| Equity Offered | 20% |
| Valuation | $15 million |
Skyride is the brainchild of successful inventor Scott Olsen. Most people are familiar with his most famous invention, Rollerblades! Olson brought his latest innovation to the Shark Tank in episode 313. Skyride is an elevated, human-powered monorail. You either pedal or row to propel the Skyride “capsule” along an elevated track. Olson incorporates Rollerblade wheels in the track and the Skyride vehicle. This probably doesn’t have the mass consumer appeal Rollerblades have, but it is an exceptionally cool idea! Olson has a prototype track set up in his own backyard, but he sees Skyride as a component in mass transportation in cities. His vision is using Skyride as an alternative to driving in congested areas.
Skyride in the Shark Tank
Scott entered seeking $3 Million for a 20% share in the business. He has no sales, but claims to have several projects in development. He wants to sell to ski areas, municipalites and facilities with large campuses to use Skyride as cheap transportation and, in the case of the ski resorts, as a thrill ride.
The Sharks think it’s pretty cool (it is), but they have concerns. Barbara respects Scott, but doesn’t see a viable business; she’s out. Daymond likes it, but has no idea how to build a business with it; he’s out too. Mark likes it too, but developing it will take a lot of construction knowledge; Mark’s not a construction guy, so he’s out. Robert doesn’t see a consumer application for the business and Mr. Wonderful just doesn’t like it; they’re both out. Scott Skyrides out of the Shark Tank empty-handed.
Skyride after the Shark Tank
Since appearing on Shark Tank, the company has no discernible sales. They continue to market the product and have several projects “in the works,” but nothing is built. There should be one or two operating systems in place by the end of 2013. In 2020, they deployed their third ride on Carnival Cruise Ships. Carnival says they are their ships’ most popular attractions. As of July, 2021, annual revenue is $900,000.
Posts about Skyride on Shark Tank Blog
Company Information
I am going on a cruise tomorrow and this product is an attraction on the boat. Obviously, this guy is going somewhere with this.
He was not very smart pure and simple to take the deal with Kevin and then put any money in his hand The deal he should have took was with Mark Cuban
Well, Skyride is actually on Carnival Vista cruise lines now. We here at Living World Technologies (www.livingworldtech.com) have complete redesigned their site with a brand new, fully responsive and mobile friendly design. We have also created them a new twitter account and Facebook page to help show case their amazing progress. Be sure to check them out on Twitter @skyridetechmn and on facebook at /skyridetech
I just saw this on Shark Tank, and I have been on the Carnival Vista Cruise Ship and it was a lot of fun. Actually went on it several times while on my week cruise. I’ve been crushing for over 20 years and this is a great invention to put on modern ships as an attraction! Go Try It!!!