Acton Skates Shark Tank Net Worth 2023
Acton Skates and Scooters has an annual revenue of $6 million and a valuation of $28.5 million as of February 2023.
The company was founded by Peter Treadway, who sought $1 million for 3.5% of the company when it appeared on Shark Tank Season 7 in November 2022.
At the time, the company had a valuation of around $20 to $28 million. As of December 2022, Acton Skates is majorly owned by Peter Treadway and has a net worth in the millions.
What is Acton skates? Who is the founded of Acton Skates?
Acton is a footwear company that produces high-quality electric personal transportation devices known as Rocket Skates.
These skates feature brushless hub motors for propulsion and can reach speeds of up to 11 mph by pressing down on the heel.
Peter Treadway is the founder of Acton Skates.
They can travel for about 8 miles on a single charge, which takes about 90 minutes. The cost for a pair of Rocket Skates ranges from $499 to $699, depending on the model.
Acton Skates Shark Tank Pitch
Peter Treadway presented his company, Acton, which produces “rocket skates” and M Scooters, during Season 7, Episode 1 of Shark Tank. Before his appearance on the show, he had successfully raised funds through Kickstarter campaigns, accumulating a total of $71,982 and $550,725 respectively. During his pitch, he sought a $1 million investment in exchange for 3.5% of his company.
Although the Sharks found the technology intriguing, they expressed concerns regarding the pricing and sales projections.
In the end, no deal was reached, and Mr. Wonderful declared “You are Dead to me!” after Peter Treadway declined his offer.
As of August 2021, Acton Global, previously known as Acton, stopped offering skates and now focuses on selling electric bikes, scooters, and an electric skateboard primarily to cities and large campuses.
Competitors of Acton Skates
Perpetual Motion Machine is a competitor of Acton Skates, offering an electric skateboard with a similar design.
Another competitor, Glide Boards, is based in Florida and also offers an electric skateboard with a similar design, but at a lower price point.
Net worth of Acton Skates
At the Shark Tank pitch, Peter valued his Company at $28,571,429
FAQS of Acton Skates
What is Acton Skates?
Acton Skates is a footwear company that makes high-quality skate shoes called Rocket Skates.
Where was Acton Skates Founded?
Acton Skates was founded in Los Angeles, California USA.
Who are the founders of Acton Skates?
Peter Treadway is the founder.
What are the main products of Acton Skates?
The main products of Acton Skates are Rocket Skates and M-Scooters.
What is the cost of Acton Skates?
The cost of paying for Acton skates is $499 to $699 per pair.
When did Acton Skates start selling their products?
Acton Skates started selling their products in 2014.
What happened to Acton Skates on the Shark Tank?
Sharks never make an investment with Acton Skates.
What is Rocket Skates?
Rocket Skates is a kind of skateboard that is powered by two brushless DC motors.
How do I charge Acton Skates?
One needs to plug the electric skate into a wall outlet and then click his or her heels.
The battery can reach a speed of 11 miles per hour and the travel time ranges from 25 to 100 minutes depending on the model of Rocket skate one purchases.
How much is Acton Skates?
The price of Rocket Skates ranges from $499 to $699.
What is the range of Acton Skates?
Rocket skates can travel up to 10 miles per hour. The M Scooter can go up to 7 miles per hour.
How to use Acton Skates?
Using Acton Skates is easy – all you need to do is take the skate and strap it into your shoes. At that point, you can start skating at amazing speeds.
How heavy are Acton Skates?
Acton Skates are very lightweight. One can travel quite easily while wearing them.
Where was Acton Skates founded?
Acton Skates is based in Los Angeles, California.
How long does it take to learn how to use Acton Skates?
Learning how to use Acton Skates is not rocket science and within a couple of minutes, you can master it.
