SkyRide Shark Tank Net Worth 2023
Skyride appeared on Shark Tank in episode 313, where Scott Olsen asked for a $3 million investment in exchange for a 20% stake in his company. The company was valued at $15 million during and after the pitch.
Although the Sharks thought it was cool, they did not invest. Skyride is still in business as of January 2022 and has an estimated net worth of $20 million.
The company has installed its systems on resorts, cruise ships, and amusement parks around the country. In July 2020, they made a revenue of about $900,000.
What is SkyRide? Who is the founder of SkyRide?
SkyRide combines the concept of a bicycle with a monorail to create an amusement park-like experience. Essentially, it’s a human-powered rollercoaster that allows you to travel above ground at your own pace without emitting carbon.
SkyRide has become a popular attraction on Carnival Cruise ships, offering passengers a unique experience on the top deck with stunning views of the ocean.
Scott Olson, the founder and CEO of SkyRide, also invented rollerblades, which many people who grew up in the early 1990s will remember. He founded OS Designs, which he currently runs, to develop and test new products before bringing them to market.
Olson conceived the idea for SkyRide about twenty years ago, with the goal of providing a fun and easy way for people to exercise without the risks associated with cycling on roads or mountains.
The SkyRide vehicle is suspended on rails, and a person sits inside it to drive it along the track. Olson uses Rollerblade wheels in both the track and the SkyRide vehicle. While the concept may not have the same mass appeal as Rollerblades, it is undoubtedly intriguing.
Olson has a prototype track in his backyard, but he envisions SkyRide as part of urban mass transportation, providing an alternative to driving in crowded areas.
SkyRide Shark Tank Pitch
Scott Olsen, a successful inventor who is best known for creating Rollerblades, has also developed another innovative product called SkyRide.
In his quest to expand his business, he appeared on the television show Shark Tank in episode 313 and sought a $3 million investment for a 20% stake in his company, which was valued at $15 million.
Although Scott had no sales at the time, he had plans to offer SkyRide as an affordable transportation option for ski regions, municipalities, and large campus buildings, and as a thrill ride for ski resorts.
While the Sharks were impressed with the product, they had concerns about its feasibility as a business opportunity.
Barbara admired Scott but didn’t see a realistic path to success, while Daymond liked the product but didn’t have a plan to turn it into a profitable company.
Mark loved the idea but lacked the necessary building expertise, and Mr. Wonderful and Robert didn’t see a consumer use for the product and ultimately passed on the opportunity. As a result, Scott left Shark Tank without a deal.
Despite the setback, Scott and his team continued to market SkyRide and work on multiple projects. By the end of 2013, they had installed one or two operating systems for the product.
In 2020, they launched their third ride on Carnival Cruise Ships, which has proven to be the most popular attraction on the ships, generating an annual income of $900,000 as of January 2022.
Competitors of SkyRide
The primary competitors of SkyRide in the market space are; Tomato Tomato Pizzeria & Pour, E Gaynor Brennan Golf Shop, Masotti & Masotti LLC, Dylewsky, Goldberg & Brenner, LLC and VAN BRUNT DUBIAGO & COMPANY LLC among others.
Net Worth of SkyRide
The company valuation was $15 million during and after the pitch. In 2022 the company has an estimate net worth of $20 million.
SkyRide FAQs
What is SkyRide?
SkyRide is essentially a human-powered monorail, which would be most suitable for theme parks and other entertainment venues.
Who is the founder?
Scott Olson is the founder and CEO of Sky Ride, which he founded in 2012. Scott, a University of North Dakota alumnus, founded OS Designs, which he currently operates, to create and test new products before bringing them to market.
How much was seeking on Shark Tank?
Scotty was seeking for $3 million for 20% stake of his business, which worth $15 million.
Did he have the deal?
No, he didn’t on Shark Tank.
Is SkyRide still in business?
Yes, Sky Ride is still in business on January 2022.
How much is SkyRide worth now?
The company was worth $15 million during the time he appeared on Shark Tank and it’s worth $20 million in 2022.
How does a SkyRide work?
The SkyRide works like a trackless train. Passengers enter the vehicle and then proceed to drive it through the track by their own power.
They can simply pedal their way around, without having to worry about any other aspect of transportation like steering or pedaling speeds.
Where is SkyRide located?
SkyRide is currently located in Virginia, but they are planning to relocate to an industrial park.
How much is SkyRide shipping cost?
There is no shipping cost at all to ship the product. SkyRide can be installed on skyscrapers, mega-cities and cruise ships.
What are some popular features of SkyRide?
SkyRide is used on Carnival Cruise Ships, but Scott plans to use it in much more places.
Is SkyRide successful?
Sky Ride is a very successful company in the market of amusement and also has a lot of potential. It is worth mentioning that Scott has been working on this product for quite a while, so there’s quite an amount of development behind the business.
What is the price of SkyRide?
One-way SkyRide tickets are as low as $9, $11, or $13 depending on where customers board. Individuals can pay the actual fee for SkyRide service when they board, or they can save money by ordering SkyRide tickets ahead of time.
Is it possible to bring a bicycle on a cruise?
If they want to bring their own bicycle on the trip, make sure to verify with the cruise operator before making their reservation.
If individuals don’t want to bring their own bike, several cruise companies (for example, Windstar Cruises) have bikes on board that they rent out to guests in port.
How much does the Spokane SkyRide cost?
Ticket rates are reasonable: $7.75 for adults, $5.75 for children ages 2 to 12, and free for youngsters under the age of two.
Is it possible to bring a bike on a Carnival Cruise?
Carnival – Regular bicycles are not permitted on Carnival cruises, however foldable bicycles with wheels smaller than 20 inches in diameter are permitted only in port. That is, they are not permitted to ride them aboard the ship.
How long does the Spokane SkyRide last?
The Spokane Falls SkyRide ride lasts roughly 20 minutes. They pass directly past Spokane City Hall before dropping 200 feet over the water falls.
What is the net worth of Scotty Olson?
Scotty Olson’s net worth is estimated to be $1.5 million.
