CoolPeds Shark Tank Update | What Happened to CoolPeds after Shark Tank?
What is CoolPeds?
CoolPeds is all about elegant and practical green-fueled, electrically propelled urban transportation.
Their product line includes electric scooters, mopeds, a briefcase-attachable electric scooter, and even an electric three-wheeled roadster motorbike that is street legal in many jurisdictions as long as you have the proper license and wear a helmet.
Tony Chan, the company’s CEO and creator of CoolPeds USA in collaboration with Ampere Motors. Tony is a Magna Cum Lauda alumnus of the University of California, Los Angeles, and an all-around automotive enthusiast.
The scooters, in particular, are bus and subway portable, making them ideal for city travel. The capacity to travel five kilometers on a full charge with a USB charging wire.
Who is the founder of CoolPeds?
Tony Chan, the company’s CEO and founder of CoolPeds USA in collaboration with Ampere Motors. Tony is a Magna Cum Lauda alumnus of the University of California, Los Angeles, and an all-around automotive enthusiast.
He funded for college by purchasing old automobiles, fixing them, and reselling them for a profit. Tony is still engaged in the firm, operating from a Santa Monica office and showroom.
Chan designs and sells the scooters and electric bikes on the CoolPeds website. From 2015 to 2017, Chan launched three IndieGoGo projects that raised little more than $20,000 in total.
The most basic scooter is a three-wheeler with an electric motor. A briefcase, bag, or carry-on luggage is mounted to the steering wheel.
Chan’s target market is the urban commuter who travels fewer than five kilometers. Because the scooters are compatible with buses and subways, moving about a city is simple. They are $479. For $599, Chan also sells a foldable electric bike.
The Ampere electric sports vehicle is another product that Chan promotes. CoolPeds’ partner firm is Ampere. The two-seat sports vehicle made its premiere at the 2017 Los Angeles Auto Show.
It was a big success. It is presently available for pre-order for the low price of $9900. (Including free electric bike). They intend to begin manufacturing in the spring of 2018.
Pre-orders were taken at the CES in Las Vegas in early 2018. The car has a range of 150 miles per charge, making it ideal for commuting around town.
What Happened to CoolPeds at Shark Tank pitch?
In episode 23 of Season 9, Tony Chan chose to propose CoolPeds, an electric scooter that also doubles as luggage, to the Sharks for a partnership.
Tony enters the Tank with a $250,000 offer for a 5% stake in his company, valued at $5 million.
He makes his case while the Ampere automobile is suddenly veiled onstage, and then he asks the Sharks to check out the scooter. Kevin attempts it and almost kills a stagehand.
Tony unveils the Ampere automobile to Robert when he wonders what’s behind the sheet. Before we get there, Kevin wants to know how many scooters have been sold.
In the last 18 months, he has made $500,000 in sales. The scooters cost $170 to manufacture and retail for $399. The Ampere, on the other hand, is still at the prototype stage.
It is the world’s first fully-electric sports automobile, and it will cost less than $10,000. They’re following in the footsteps of Tesla, which began with a roadster.
Mark claims that they are selling the cool factor and that he would “be a fool to sell cool,” and he is the first Shark to exit.
Barbara believes that scooters in the airport will cause havoc; she also exits. Lori has no idea how to sell a car, therefore she’s out. Kevin claims that 5% isn’t enough to get him out of bed and that Robert would be a better partner.
Robert claims that he must choose between buying a vehicle and a scooter; he, out too. Finally, all of the Sharks had exited, and he exited the pitch with no deal.
What Happened to CoolPeds after Shark Tank?
After the program aired and Chan departed the pitch without a deal, Chan and the Sharks were unaware that at the time he filmed this episode (February 2018), he had a two-year-old unfulfilled IndieGoGo Campaign for electric bikes.
He raised $43,000 and change but did not deliver a single bike. A consumer advocate intervened, and one supporter received his money refunded, but the four others who had contacted the advocate received bikes in 2019 that were damaged to the point of being dangerous to ride.
The fact that they’re still taking orders for the Ampere automobile in June 2021 seems suspicious to him. In addition, they promise to sell an electric scooter, an electric suitcase, and an electric moped scooter. Surprisingly, they haven’t updated their Facebook profile since 2019.
A brief search reveals that some consumers who put down deposits on Ampere automobiles want their money returned.
There have also been Better Business Bureau complaints about scooters that are broken or untradeable.
The items are no longer available on Amazon, and their website lacks a contact option. Stay away from this firm, even if it appears to be cool.
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.
What is CoolPeds?
CoolPeds is all about stylish and practical green-fueled, electrically driven urban mobility. Their product portfolio 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 you have the necessary license and wear a helmet.
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.
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.
What is the net worth of Tony Chan?
Tony Chan’s net worth is unknown.