Shark Wheel Shark Tank Update 2021 | Shark Wheel Net Worth | What Happened To Shark Wheel After Shark Tank?
What Is Shark Wheel?
Shark Wheel is a relatively new company that has innovated ‘the wheel’.
The company’s founders saw that everything around them was upgraded and modernized, whereas the wheel has been the same as it has been for thousands of years.
So the inventor, David Patrick, knew that they needed an update, and that is when the idea of the Shark Wheel was first thought about.
How Does Shark Wheel Work?
The shark wheel works like a traditional wheel but has a firmer grip; it is faster and offers more support. It can work ideally on all terrains.
Shark Wheel has one significant aspect to it that makes it different from any other wheel.
Its unique design is meant to increase the amount of grip you have with your board.
Now, this is true for longboards, skateboards, and even BMX boards!
This means if you love skating but aren’t good enough to be pro yet because of lack of grip, these wheels should help you out tremendously.
Their unique and innovative design also makes them durable.
Who Owns Shark Wheel?
Shark Wheel is owned by the inventor of the product, David Patrick, and his associate Zach FLEISHMAN, who works as Chief Technology Officer and Chief Operating Officer.
Shark Wheel Before Shark Tank
Both David and Zach are entrepreneurs, and they have been doing different businesses for some time.
However, one day David Patrick came up with the idea of shark wheels when he was designing a wake turbine.
This is why the shark wheel is based on the sine wave pattern. So when David got the idea of shark wheels, he knew that he had something very lucrative on his hands.
So both David and Zach started a Kickstarter campaign to fun their business idea. Their Kickstarter campaign reached eight times their initial goal of funds which was very promising.
What Happened To Shark Wheel After Shark Tank?
Shark Wheel started in 2012, and they had a very good sales number to show when they appeared on the shark tank.
Additionally, after they came and pitched their product on national television, their product got really popular.
With three of the Sharks getting in on the deal, the shark wheel was bound to become a success.
Even greats like Tony Hawk tried it on his skateboards. So their popularity grew exponentially and so made their profit.
The company turned from a small kick-starter startup to a multiple million-dollar business.
Is Shark Wheel Still In Business?
The short answer is ‘Yes, they are still in business. Not only is Shark Wheel still in business, but they are doing better than ever before.
However, the company started selling skateboard wheels, and now they have expanded into several different markets.
Shark Wheel now sells luggage bags with shark wheels, skateboards, and their signature shark wheels.
The company is making wheels for the US military and other large corporations, some of which include Fortune 500 companies as well.
Why Did They Name It Shark Wheel?
Well, if you are not familiar with the actual reason for why they called it Shark Wheel, then you would probably think that it has something to do with them being on the Shark Tank.
However, that is not the case. The founder and inventor of Shark Wheel, David Patrick, said they named the product shark wheel because the shark wheel resembles a shark’s jaw.
Did Shark Wheel Get A Deal On Shark Tank
When Shark Wheel came to the TV Show Shark Tank in 2015, their product’s prominence grew really fast.
Their pitch was very promising, and they came prepared with an exhibition of their product.
At first, it didn’t look like much, but then the offers started coming in. And Yes, Shark Wheel did get a deal on Shark Tank
In fact, they got a 1 for three deal in the Shark Tank because they might have thought that they would be able to woo one of the sharks, but they actually got three heavyweight investors like Mark Cuban, Kevin O’Leary, and Nick Woodman.
This was a perfect deal for everyone involved.
Is Shark Wheel Making Money?
Well, Shark Wheel is making loads of money. The company that started with the funding from a Kickstarter campaign is now worth more than $25 Million.
So they are not just making money; they are also growing as a business.
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.