Acton Skates Shark Tank Update | Acton Skates after the Shark Tank pitch
What is Acton skates?
Acton skates are a footwear company that makes high-quality skate shoes called Rocket Skates, these are electric personal transportation devices that uses brushless hub motors for propulsion
After activating the two DC motors by pressing down on the heel, you may skate up to 11 mph. Stopping is as simple as clicking your heels.
Rocket Skates can travel around 8 miles before needing to be charged, which takes approximately 90 minutes.
Depending on the model, Rocket Skates costs between $499 and $699 each pair.
Who is the founded of Acton Skates?
Peter Treadway is the founder of Acton Skates.
What happen to Acton Skates at the Shark Tank Pitch?
In Shark Tank episode 1– the season 7, Peter Treadway pitches Acton, his firm that makes “rocket skates” and M Scooters.
Acton was founded by Treadway after two successful Kickstarter campaigns.
He raised $71,982 in December 2013 to get the M Scooter up and running, and $550,725 in August 2014 to support the creation of the Acton Rocket Skates.
Treadway is the first, but certainly not the last, Kickstarter founder to pitch in Season 7 of the Tank.
Peter enters on Shark Tank, looking for $1 million in exchange for 3.5 percent of his company. While he and a helper display the skates, Mark cracks a joke.
Robert wants to try them on, so he does so with the assistance of Peter’s aide. Ashton Kutcher wonders whether they’re like Segways for the feet as he puts them on.
When Robert is fitted, he has trouble standing and appears uncomfortable, which causes Ashton to mock him.
It’s more difficult than it appears, according to Robert, but it’s a lot of fun.
Mr. Wonderful inquires as to how long it takes to become skilled; Peter responds that it depends on the rider.
The only major difference between Acton’s three versions, according to Peter, is range. He also claims that production expenses are around 40% of retail prices.
In 2014, Rocket Skates sold $1 million and had over 20 patents.
They’ve raised $2 million thus far in 2015, and their goal is $20 million.
Acton has secured $2 million in seed investment to yet, with a second round of $2.5 million at a valuation of $20 million on the way.
After hearing that, Robert declares that he likes the technology but despises the pricing, believing that he will only profit if Acton knocks it out of the park.
Robert also wonders if Peter came to the Tank with the intention of making a bargain.
Peter stated that he had come to negotiate a deal, but Robert had left.
Mr. Wonderful claims that a million dollars won’t make him feel love.
Ashton thinks it’s cool, but he wasn’t thrilled, and he believes they’re a long way from the general market; he’s out.
Lori thinks it’s creative, but she believes he didn’t put forth much effort since he isn’t desperate for a deal.
Peter denies it and claims he’s come to make a deal; he claims he can negotiate, but Lori isn’t interested.
Mark claims that Peter came to make a deal, but that he wasn’t accurate with the numbers, so he’s out.
Mr. Wonderful claims that he has asked for too much, and that he will do a million dollars for 15%. Peter responds with a figure of 6%.
Mr. Wonderful refuses to budge because he believes he will be diluted to 7.5 percent at the end of the process.
He goes on to suggest that having a Shark investor adds additional value because of the “platform’s strength,” and Peter has to recognize that the platform has a cost.
Mr. Wonderful just says, “You are Dead to me!” when Peter answers with 8%. And Peter did get a deal from the Sharks.
Acton Skates after the Shark Tank pitch
After failing to get an investment in the Shark Tank, Acton no longer offers skates as of August 2021.
Acton Global is the new name for the firm. They currently sell electric bikes and scooters to cities and huge campuses.
There’s also an electric skateboard for sale.
Competitors of Acton Skates
Perpetual Motion Machine is one of the competitors of Acton Skates, their electric skateboard looks similar to Acton Skates.
Another competitor of Acton Skates is Glide Boards, they are located in Florida, USA. Their electric skateboard is also similar to Acton Skates, but the price is cheaper than Acton Skates.
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.