CoolPeds Shark Tank Net Worth 2023

Since its appearance on Shark Tank in 2021, CoolPeds has been valued at $5 million and its net worth is estimated to be around the same in 2022.

As of January 2023, its products remain available for purchase from the company’s website.

What is CoolPeds?

CoolPeds specializes in creating stylish and practical environmentally-friendly transportation solutions for urban areas that run on electricity.

Their range of products includes electric scooters, mopeds, a briefcase-attachable electric scooter, and even an electric three-wheeled roadster motorbike that is street legal in many places as long as the rider has the proper license and wears a helmet.

Tony Chan, an automotive enthusiast and Magna Cum Laude alumnus of the University of California, Los Angeles, is the CEO and founder of CoolPeds USA in collaboration with Ampere Motors. Chan still plays an active role in the company, operating from an office and showroom in Santa Monica.

Chan designs and sells the electric bikes and scooters on the CoolPeds website. He started the business with funding from his profits in buying and reselling old cars while he was in college. From 2015 to 2017, Chan launched three IndieGoGo projects that raised a total of just over $20,000.

The company’s target market is urban commuters who travel short distances of less than five kilometers. The scooters and electric bikes are convenient for city travel as they are portable and can be used with buses and subways. The basic three-wheeled scooter model costs $479, and for $599, Chan also sells a foldable electric bike.

CoolPeds also promotes the Ampere electric sports vehicle, a two-seater car produced in partnership with Ampere Motors, which premiered at the 2017 Los Angeles Auto Show.

It is available for pre-order at $9,900 (including a free electric bike) and has a range of 150 miles per charge, making it suitable for commuting within the city. Manufacturing of the car is scheduled to begin in the spring of 2018, and pre-orders were taken at CES in Las Vegas in early 2018.

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What Happened to CoolPeds at Shark Tank pitch?

In Season 9, Episode 23 of Shark Tank, Tony Chan presented his company, CoolPeds, which offered an electric scooter that could also be used as luggage.

Chan sought a $250,000 investment for a 5% stake in his $5 million company. While he showcased his product, the Ampere automobile was also unveiled on stage, generating interest from the Sharks.

Kevin tried the scooter but accidentally almost injured a stagehand. Robert was the only Shark to see the Ampere automobile when Chan unveiled it, and Mark was the first Shark to decline the offer, stating that the company was selling the “cool factor.”

Barbara expressed concerns about using scooters in airports, while Lori didn’t feel confident about selling cars. Ultimately, none of the Sharks made a deal with Chan.

After the episode aired, it was revealed that Chan had a two-year-old unfulfilled IndieGoGo Campaign for electric bikes, raising over $43,000 but failing to deliver any bikes. An advocate intervened, and while some supporters received refunds, others received bikes that were unsafe to ride.

Furthermore, there have been complaints from consumers who placed deposits on the Ampere automobile and reported issues with broken or unusable scooters.

As of June 2021, CoolPeds continues to sell the Ampere automobile, electric scooters, and an electric suitcase, despite these issues. Their Facebook profile has not been updated since 2019, and their website lacks a contact option. Thus, it is advised to avoid doing business with the company.

Net Worth of CoolPeds

The company was valued at $5 million during and after the pitch. Since then the company have been selling their product on both Amazon and their website. This might make the company net worth to elevate.

CoolPeds Shark Tank Updates

CoolPeds is an eco-friendly, electrically powered vehicle that doubles as a carry-on bag. The company was featured on Shark Tank in episode 921, where Tony Chan pitched his electric scooter and suitcase to the Sharks.

Chan was seeking a $250,000 investment in exchange for a 5% stake in CoolPeds. However, no deal was reached between the Sharks and CoolPeds.

Despite not securing a deal on Shark Tank, CoolPeds continues to operate and create innovative and affordable green mobility products.

The company has been dedicated to creating sustainable transportation accessible and exciting for everyone worldwide for more than six years.

CoolPeds offers a range of electric scooters and mopeds, including a briefcase-attachable electric scooter and an electric three-wheeled motorbike that is street legal in many jurisdictions.

As of 2023, CoolPeds is still in existence, and the Shark Tank featured Briefcase Electric Scooter is available for purchase on the company’s website for $399.

The company’s website may appear crude and amateurish, but it continues to offer innovative and eco-friendly mobility products.

CoolPeds Shark Tank Summary:

TOPIC	INFORMATION
Company Name	CoolPeds USA
Founder	Tony Chan
Location	Santa Monica, California
Product Range	Electric scooters, mopeds, briefcase-attachable electric scooter, electric three-wheeled roadster motorbike
Target Market	Urban commuters traveling short distances
Price Range	$479 – $9,900
Shark Tank	– Chan sought $250,000 for a 5% stake but no deal was made. <br> – Some Sharks expressed concern over safety and the viability of the company’s products. <br> – The company was valued at $5 million before and after the pitch.
Net Worth	Estimated to be around $5 million in 2022, with a possibility of elevation due to continued sales on Amazon and its website.
CoolPeds Updates	– The company is still in existence and offers a briefcase electric scooter for $399 on its website as of 2023. <br> – There have been complaints from consumers about broken or unusable products, and some supporters of a previous IndieGoGo campaign have not received their orders. <br> – The company’s Facebook profile has not been updated since 2019, and its website lacks a contact option. Thus, it is advised to avoid doing business with the company.

CoolPeds FAQs

What Is CoolPeds And How Does It Work?

CoolPeds is an eco-friendly, electrically powered vehicle that was presented on Shark Tank by Tony Chan. The vehicle is an electric scooter that doubles as a carry-on bag, making it a convenient mode of transportation for short distances.

The scooter is available in different models, including 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.

The company has been dedicated to creating innovative and affordable green mobility products for more than six years.

The CoolPeds electric scooter has a 150-mile range per charge, making it perfect for zipping around town. The scooter was available for pre-order in early 2018 at CES in Las Vegas, and production began in the spring of 2018.

However, the company faced some challenges after raising $43,000 through crowdfunding and failing to deliver a single bike.

A consumer advocate got involved, and one backer got his money back, while the four others who had contacted the advocate received bikes in 2019, which were defective to the point of being unsafe to ride.

As of November 2022, CoolPeds is still in existence, but the website appears to be crude and amateurish. The company has not made any significant updates or announcements since its appearance on Shark Tank in 2017.

Despite the challenges, CoolPeds remains a unique and innovative product that offers a convenient and eco-friendly mode of transportation for short distances.

Who is the founder?

Tony Chan is the CEO of the company. He has been an entrepreneur since he turned 18, when he purchased his first vehicle and started fixing it. He then began reselling these vehicles on eBay and utilizing the profits to fund his college tuition.

What Was The Outcome Of CoolPeds Shark Tank Pitch?

CoolPeds, an electric scooter brand that also produces a variety of accessories, did not get a deal on Shark Tank Season 9. Entrepreneur Tony Chan placed a $5 million valuation on his company by asking for an investment of $250,000 in exchange for 5% equity.

The sharks were not convinced to make an offer with such a significant valuation placed on the company. Tony told the sharks that his CoolPeds had received $20,000 through an IndieGoGo crowdfunding campaign.

Customers can purchase an electric scooter for around $400, and it costs the company just under $200 to manufacture one. He told the sharks that he had generated more than $500,000 dollars in gross1. The final deal was no deal between Sharks and CoolPeds.

Despite not getting a deal on Shark Tank, CoolPeds is still in existence, and the company is still accepting orders for the Ampere automobile as of 2022.

The company’s website appears to be crude and amateurish, but 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.

What Happened To CoolPeds After Its Appearance At The Shark Tank?

After appearing on Shark Tank, CoolPeds did not receive a deal from any of the Sharks. However, the company is still in operation, and its products remain available for purchase from the company’s website.

The website appears to be crude and amateurish, but the company is still selling its products, including the Briefcase Electric Scooter, which is normally offered for $499 but is currently available for $399 to coincide with the showing on ABC.

The company has been valued at $5 million since its appearance on Shark Tank in 2021, and its net worth is estimated to be around the same in 2022. According to reviews, the products seem to be cheaply made and prone to breaking.

How much was asking on Shark Tank?

Tony Chan was seeking $250,000 for 5% stake of the company, valued at $10 million.

Did he have the deal?

No, Tony leaves the pitch without a deal.

Is CoolPeds still in business?

They have been in business for about 2 years, but their website and products have disappeared. However, the video has no information about the company or Tony Chan as a founder.

Is CoolPeds availoable online?

The merchandise are still available on Amazon, but the company is not listed on their website’s contact page and it is unclear if all of these products are still in production, or if they were ever launched.

Is CoolPeds good deal?

According to reviews, the products seem to be cheaply made and prone to breaking.

What is the net worth of CoolPeds?

The net worth of CoolPeds is not available right now. It may be under review.

What is the return policy of CoolPeds?

The return policy is not available right now.

How can I contact the company?

The company may be hard to reach, but customer on Website www.coolpeds.us.

What is the email address of CoolPeds?

The email address of CoolPeds is not available right now.

What is the phone number of CoolPeds?

The phone number of CoolPeds is not available right now.

What is the mailing address of CoolPeds?

The mailing address of CoolPeds is [email protected]

Where are CoolPeds products purchased?

CoolPeds can be purchased online or through select retailers such as Best Buy and Amazon.