What Happened to Acton Skates After the Shark Tank Pitch?
What is Acton skates?
Acton Skates is a footwear company that manufactures high-quality skate shoes dubbed Rocket Skates. Rocket Skates are electric personal mobility devices that are propelled by brushless hub motors.
After pressing down on the heel to activate the two DC motors, you may skate up to 11 mph. It’s as simple as clicking your heels to come to a halt.
Rocket Skates have a range of around 8 miles before charging, which takes approximately 90 minutes.
Rocket Skates retail for between $499 and $699 each pair, depending on the model.
Who is the Founder of Acton skates?
Peter Treadway launched Acton following the success of two Kickstarter projects.
He raised $71,982 in December 2013 to fund the M Scooter’s development and $550,725 in August 2014 to fund the Acton Rocket Skates’ production.
Treadway is the first Kickstarter creator to pitch in Season 7 of the Tank, but probably not the last.
What Happened to Acton Skates at the Shark Tank Pitch?
Peter Treadway pitched Acton, his company that manufactures “rocket skates” and M Scooters, on Shark Tank episode 1 of the season 7.
Peter appeared on Shark Tank in search of $1 million in exchange for a 3.5 percent stake in his business. This suggests a valuation of $28,571,429 for the Company. Mark cracks a joke as he and a helper demonstrate the skates.
Robert desires to try them on, and with the assistance of Peter’s aide, he does so. As he puts them on, Ashton Kutcher wonders whether they’re like Segways for the feet.
When Robert is fitted, he struggles to stand and seems uneasy, prompting Ashton to taunt him.
According to Robert, it’s tougher than it seems, but it’s a lot of fun.
Mr. Wonderful inquires as to the length of time required to develop expertise; Peter says that it varies according to the rider.
According to Peter, the only significant variation between Acton’s three variants is range. Additionally, he asserts that production costs account for around 40% of retail pricing.
Rocket Skates sold $1 million in 2014 and had over 20 patents.
They have already raised $2 million in 2015, with a goal of $20 million.
Acton has raised a total of $2 million in seed funding to date, with a second round of $2.5 million at a valuation of $20 million imminent.
After hearing that, Robert claims that he admires the technology but despises the cost, believing that he will benefit only if Acton outperforms expectations.
Additionally, Robert wonders if Peter came to the Tank with the purpose of striking a deal.
Peter explained that he had arrived to discuss a contract with Robert, but Robert had already departed.
Mr. Wonderful asserts that a million dollars will not induce feelings of love in him.
Ashton thinks it’s cool, but he’s not delighted, and he believes they’re too far off from the mainstream; he’s out.
Lori thinks it’s innovative, but she believes he didn’t exert much effort given his lack of urgency for a deal.
Peter denies it and claims he’s arrived to strike a bargain; he asserts his ability to negotiate, but Lori is uninterested.
Mark states that Peter arrived to negotiate a transaction, but was unable to do so due to his inaccuracy with the figures.
Mr. Wonderful states that he has requested an excessive amount and that he is willing to do a million dollars for 15%. Peter provides a figure of 6%.
Mr. Wonderful is adamant in his refusal to budge, believing that he will be diluted to 7.5% by the conclusion of the procedure.
He continues by implying that having a Shark investor adds value due to the “platform’s power,” and Peter must acknowledge that the platform comes at a cost.
When Peter responds with 8%, Mr. Wonderful simply exclaims, “You are Dead to me!” And Peter did land a contract with the Sharks.
What Happened to Acton Skates After the Shark Tank Pitch?
Acton will cease offering skates in August 2021 after failing to get a funding on Shark Tank.
Acton Global is the firm’s new moniker. Currently, they sell electric bicycles and scooters to cities and large college campuses.
Additionally, an electric skateboard is available for purchase.
Who is the Competitors of Acton Skates?
Perpetual Motion Machine is one of Acton Skates’ rivals; their electric skateboard is similar in appearance to Acton Skates.
Another rival of Acton Skates is Glide Boards, which is based in Florida, United States of America. Their electric skateboard is comparable to Acton Skates, but is less expensive.
What is the Net worth of Acton Skates?
Peter appeared on Shark Tank in search of $1 million in exchange for a 3.5 percent stake in his business. This suggests a valuation of $28,571,429 for the Company.
FAQS of Acton Skates
What is Acton Skates?
Acton Skates is a footwear firm that specializes in the production of high-quality skate shoes known as Rocket Skates.
Where was Acton Skates Founded?
Acton Skates was created in Los Angeles, California in the United States of America.
Who are the founders of Acton Skates?
The founder is Peter Treadway.
What are the main products of Acton Skates?
Acton Skates’ primary products are Rocket Skates and M-Scooters.
How much do Acton Skates cost?
Acton skates cost between $499 and $699 a pair.
When did Acton Skates start selling their products?
In 2014, Acton Skates began marketing their goods.
What happened to Acton Skates on the Shark Tank?
Sharks will never invest in Acton Skates.
What is Rocket Skates?
Rocket Skates are a type of skateboard propelled by two brushless direct current motors.
How do they charge Acton Skates?
The electric skate must be plugged into a power socket and then clicked into place.
The battery is capable of speeds of up to 11 miles per hour and travel times of up to 100 minutes, depending on the type of Rocket skate purchased.
How much is Acton Skates?
Rocket Skates are priced between $499 and $699.
What is the range of Acton Skates?
Rocket skates are capable of speeds of up to ten miles per hour. The M Scooter has a top speed of seven miles per hour.
How to use Acton Skates?
Acton Skates are simple to use; all you have to do is grab the skate and secure it to your shoes. After that, you may begin skating at incredible speeds.
How heavy are Acton Skates?
Acton Skates are extremely light. While wearing these, one may travel pretty simply.
Acton Skates was created in Los Angeles, California.
How long does it take to learn how to use Acton Skates?
Learning how to use Acton Skates is not rocket science and can be accomplished in a matter of minutes.