Shark Wheel Shark Tank Net Worth 2023
Shark Wheel’s founders David Patrick and Zack Fleishman have a net worth of 3.6 Million USD as of 2022. The valuation of Shark Wheel was $2 million when it appeared on Shark Tank, and the net worth of Shark Wheel is $4 million as of 2022.
Currently, the company is worth more than $25 million. In 2023, Shark Wheel is still in business and offers different types of wheels.
It is unclear whether Shark Wheel will be worth more or less in 2023 than it currently is. However, based on its current market capitalization and revenue growth, it seems likely that the company will continue to grow in value over time.
Retail prices for Shark Wheels are over $1,000 per wheel, with early estimated annual revenue at $10+ million per year.
What Is Shark Wheel? Who Owns Shark Wheel?
Shark Wheel is a recently established company that has introduced a novel and innovative approach to the traditional wheel.
The founder of the company, David Patrick, recognized that while technology and other everyday objects were advancing and evolving, the wheel had remained unchanged for centuries.
Consequently, he set out to create an improved version of the wheel, leading to the development of the Shark Wheel.
The Shark Wheel is a state-of-the-art wheel that offers superior grip, speed, and support compared to traditional wheels.
Its exceptional design enables optimal performance on all types of terrain and surfaces, making it suitable for longboards, skateboards, and BMX boards.
The innovative design makes it more durable, making it an excellent choice for skaters looking to enhance their grip and take their abilities to the next level.
David Patrick is the inventor of the Shark Wheel product and also owns the company. His associate, Zach Fleishman, serves as the Chief Technology Officer and Chief Operating Officer.
Shark Wheel Shark Tank Pitch
David Patrick and Zach are two entrepreneurs who have participated in various business ventures. One of David’s ventures was Shark Wheels, which he came up with while designing a wake turbine.
Shark Wheel appeared on the TV show Shark Tank in 2015 and their product gained significant popularity after their successful pitch.
They came prepared with an exhibition of their product and were able to secure a 1-for-3 deal with investors Mark Cuban, Kevin O’Leary, and Nick Woodman.
This deal was mutually beneficial for all parties involved.
He based the design on the sine wave pattern, recognizing its potential for use in a wheel. David and Zach decided to launch a Kickstarter campaign to fund the project and exceeded their initial funding goal by eight times.
Shark Wheel was established as a startup in 2012 and achieved impressive sales figures even before being featured on the television show Shark Tank.
Following the show, the company gained significant popularity due to the endorsement of three of the Sharks and the support of skateboarding icon Tony Hawk.
These endorsements helped the company’s popularity and profits to grow exponentially, propelling Shark Wheel from a small Kickstarter startup to a multi-million dollar business.
Shark Wheel Shark Tank Updates
Shark Wheel is a company that appeared on Shark Tank in season 6, pitching their cube-shaped skateboard wheels that offer better traction and smoother rides on rough terrain and wet conditions.
The founders, David Patrick, and Zack Fleishman, asked for $100,000 for 5% equity but ended up accepting a deal of $225,000 for 7.5% equity and a 10% royalty until $500,000 is paid back. The sharks who invested in Shark Wheel were Mark Cuban, Kevin O’Leary, and Nick Woodman.
As of 2022, the net worth of Shark Wheel’s founders is $3.6 million, and the company is worth more than $25 million. Shark Wheel is still in business and offers different types of wheels.
However, there is no recent update on Shark Wheel’s progress or any new developments since its appearance on Shark Tank in 2015.
Summary Table: Shark Wheel Shark Tank
| CATEGORY | INFORMATION |
| Founders’ Net Worth | $3.6 million (as of 2022) |
| Shark Wheel Valuation | $2 million (when it appeared on Shark Tank), $4 million (as of 2022), and currently worth more than $25 million |
| Shark Wheel Products | Different types of wheels suitable for longboards, skateboards, and BMX boards |
| Retail Prices | Over $1,000 per wheel |
| Estimated Annual Revenue | $10+ million per year (early estimate) |
| Ownership | David Patrick (inventor) and Zack Fleishman (CTO and COO) |
| Shark Tank Pitch | Appeared in Season 6, secured a deal of $225,000 for 7.5% equity and a 10% royalty until $500,000 is paid back from Mark Cuban, Kevin O’Leary, and Nick Woodman |
| Terrain Suitability | Designed to perform well on rough terrain, wet surfaces, and uneven surfaces |
| Unique Design | Wave pattern design allows for better traction, thinner contact patch, and predictable slides |
| Recent Update | No recent updates since appearing on Shark Tank in 2015 |
Shark Wheel FAQs
What Is Shark Wheel And How Does It Work?
Shark Wheel is a company that produces cube-shaped wheels for various applications, including skateboards, bicycles, and even cars.
The unique design of the Shark Wheel allows for more traction over various terrains by channeling liquid, sand, or gravel out and away from the surface of the wheel, which reduces hydroplaning and allows for a firm contact patch with the ground.
The wave pattern design also allows for a thin contact patch touching the ground, resulting in less friction and a quicker ride.
Additionally, the three lips of the Shark Wheel compared to one lip on a traditional wheel give predictable slides, making it easier to control the ride. The Shark Wheel spins as it slides, acting like a car’s antilock brakes.
David Patrick, the Chief Technology Officer and inventor of the Shark Wheel, has a background in software and mortgage banking.
He is on his third startup company and previously founded Proventedge Technologies, a California software company focused on the mortgage banking industry, and California Capital, a mortgage banking firm.
What Types Of Terrain Are Shark Wheels Best Suited For?
Shark Wheels are designed to perform well on various terrains, including rough terrain, wet surfaces, and uneven surfaces.
The alternating pattern of grooves on the wheels significantly reduces hydroplaning by channeling liquid, sand, or gravel out and away from the surface of the wheel, allowing for a firm contact patch with the ground.
The wave pattern design allows for a thin contact patch touching the ground and therefore less friction, resulting in a quicker ride. The width is increased, but the three lips of the Shark Wheel compared to one lip on a traditional wheel give predictable slides, providing more grip and slide control.
Shark Wheels are also suitable for longboarding on rough roads and off-road paths. Shark Wheels are a good option for those who want to ride on various terrains and enjoy a smooth and fast ride.
What Was The Outcome Of The Shark Wheel Shark Tank Pitch?
Shark Wheel appeared on Shark Tank in May 2016, pitching their cube-shaped wheels. The founders, David Patrick and Zack Fleishman, asked for $100,000 for 5% equity and ended up accepting a deal for $225,000 from Kevin O’Leary, Mark Cuban, and guest shark Nick Woodman of GoPro for 7.5% equity with a 10% royalty until the Sharks get their money back.
The Shark Wheel is a state-of-the-art wheel that offers superior grip, speed, and support compared to traditional wheels. Its exceptional design enables optimal performance on all terrains, including rough terrain, sand, gravel, and wet surfaces.
As of 2022, Shark Wheel’s founders David Patrick and Zack Fleishman have a net worth of 3.6 Million USD, and the company is worth more than $25 million.
What Happened To Shark Wheel After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Shark Wheel has experienced successful financial growth. Although they did not receive a deal from the Sharks, the company’s net worth has increased from $2 million to $4 million as of 2022, and it is currently worth more than $25 million.
Shark Wheel has expanded to offer different types of wheels and has become a forward-thinking brand and product that has demonstrated that the wheel can be redesigned. The company’s founders, David Patrick and Zack Fleishman, have a net worth of $3.6 million as of 2022.
Shark Wheel’s unique design offers superior grip, speed, and support compared to traditional wheels, making it a popular choice for skateboarders.
Is Shark Wheel Still In Business?
Shark Wheel is a company that is still operating and doing well.
They began by selling skateboard wheels, but have since diversified into other markets, including luggage bags and other products that feature their signature shark-shaped wheels.
Additionally, they now produce wheels for the military and large corporations, including Fortune 500 companies.
Why Did They Name It Shark Wheel?
The reason for the name “Shark Wheel” does not have to do with the company appearing on Shark Tank, but rather it is because the shape of the wheel resembles a shark’s jaw.
This was stated by the founder and inventor of Shark Wheel, David Patrick.
Is Shark Wheel Making Money?
The company Shark Wheel, which began with funding from a Kickstarter campaign, has grown to be worth over $25 million in revenue, indicating successful financial growth.
When did Shark Wheel go on Shark Tank?
Shark Wheel appeared on ABC’s famous business show Shark Tank in May of 2015.
In terms of the episodes, it was season 6 and episode 29. By looking at the company’s success, we can also say that they went to the Shark Tank at an ideal time.
Their visit to the Shark Tank helped them get exposure and also a great deal of funding and expertise.
All these things and the passion the founders had made this company successful as it is today.
Is Shark Wheel Profitable?
If you are wondering whether or not Shark Wheel is profitable, then you should be happy to know that they are making a lot of money.
In fact, it has been estimated that they have made several times more than the amount they initially invested in the company.
So as far as profits go, Shark Wheel definitely makes a great deal of money.
What is Shark Wheel’s current net worth?
Shark Wheel is an ever-growing company. It started small, but the idea picked up really quickly and even got investments from three prominent venture capitalists in Shark Tank.
The company had grown exponentially since its birth back in 2012.
Currently, the company is worth more than $25 million, and with so many different sectors showing their interest in Shark Wheels, these numbers are only going to grow in the future.
