What happened to Linka After the Shark Tank Pitch?
What is Linka?
Linka is a smart, keyless bicycle lock. If your Linka lock is tampered with, an alarm will ring and you will receive an alert on your phone.
If someone tries to steal your bike while you’re away, Linka features a powerful siren that can reach a shrill 100db – about the volume of a helicopter.
The advanced technology is good at discriminating between when a burglar is at work and the regular bumps that a parked bike may experience, making it extremely trustworthy.
If your bike is stolen, Linka will lock your wheels and deactivate it, making it difficult for anybody to ride away with it. If you are within 400 feet of the device, a Tamper Alert will be issued to your smartphone.
Linka will also alert you if you leave its range.
If your bike is stolen, Linka can connect to other nearby Linkas over Bluetooth to help you and the police find it.
Who is the Founder of Linka?
Linka was founded by Mohamed Mohamed of Emeryville, California. Mohamed was fed up with bike theft and recognized he wanted to take action, which is where the idea for Linka came from.
Mohamed launched the firm in May 2015 with a tremendously successful Kickstarter campaign, garnering $123,772 with a goal of $25,000.
He hasn’t yet delivered anything, but the website says they’ll be available around June 1st, 2016.
With over 2 million bikes stolen each year, bike locks are big business. The Link a lock is not a toy, but rather a heavy-duty bike lock.
Its simplicity (it’s merely a high-strength steel ring) and associated technology appeal to bike enthusiasts.
While some Kickstarter backers are annoyed by production delays, the vast majority tend to be patient as long as the information is clear.
What Happened to Linka at the Shark Tank Pitch?
Mohamed Mo made an appearance on Shark Tank Season 7 Episode 20 in quest of $250,000 in return for a 10% stake. This translates to a $2.5 million valuation
He came up with the concept after becoming frustrated with bike theft.
He shows a video demo and tells the story of the product.
When the Sharks ask what prevents someone from picking it up and walking away, he demonstrates the alarm feature.
The lock is also quite difficult to cut. Robert is indifferent about the alarm; he feels it necessitates the use of a chain.
Mark inquires about the additional costs levied by the business. Mohamed says that the advertisement costs $129 and Linka just $45 to develop.
Barbara then asks how much a Linka costs in total, to which Mohamed says that it is $159, which includes the chain.
Kevin inquires about the amount of Linka units sold, to which Mohamed answers that in May, they ran a Kickstarter campaign that netted them 5 times the aim ($130,000 total). Sales have surpassed $40,000 since then.
He discloses that his parents immigrated to America to better the lives of their children. He attended City College of New York and worked for Toyota as a manufacturing engineer.
Despite the fact that the lock unlocks instantaneously through Bluetooth, Barbara feels a chain has a psychological effect; she is going.
Robert is going because he feels that a dog is the greatest burglar alarm and that a chain is the best barrier against bike theft.
Kevin O’Leary – on Shark Tank, he constantly sees better mousetraps, the value is excessive, and he is uninterested in the product category. He’s no longer there.
Lori Greiner – enjoys the innovation but believes it may benefit from a louder alert. The noises would have been white noise to her. She’s gone.
Mark Cuban has no reservations about his preparation or the need for the products. The issue is that there is just too much competition.
That’s why he has to travel to Amsterdam; if it were a straightforward pitch, he’d have plenty of time on Shark Tank. As a consequence, Mark is the final Shark to back out of the deal, leaving Mohamed with no ownership position in Linka.
What happened to Linka After the Shark Tank Pitch?
Despite failing to get a contract on Shark Tank, the notion of a physical chain has been offered as an accessory, depending on Linka’s existing lock mechanism for extra security without requiring additional steps for removal.
The company is still in business as of May 2021, with annual revenue of $4 million.
What is the Net Worth of Linka?
The net worth of the company is estimated to be $1 million.
Who are the Competitors of Linka?
Linka’s competitors include ElecTorq Technologies and Clevr Mobility.
What happened to Tremont Electric/nPower PEG After the Shark Tank Pitch?
What Happened to Cougar Energy Drinks After Shark Tank?
Linka FAQS
How can Linka detect a thief?
Thieves will have to open the two locks (sometimes called “bump” keys) to break the case near the locking mechanism.
The alarm detects any attempts to manipulate the locks and alerts you on your smartphone via the Linka app.
What if their bike is stolen and I am within 400 feet of their Linka?
If their bike is stolen and they are within 400 feet of their Linka, an alarm will trigger and alert them via the Linka app on their smartphone.
After the alarm triggers, they can also notify others who have paired their Linka locks with theirs (if they have the app installed on their phones), informing them that someone has tampered with their lock.
Who is the founder of Linka?
Mohamed Mohamed is the founder of Linka. He created this device to ensure that his bike was never stolen again.
When was Linka founded?
Mohamed launched the firm in May 2015 with a tremendously successful Kickstarter campaign, garnering $123,772 with a goal of $25,000.
How much was Mohamed Mohamed seeking in the Shark Tank?
Mohamed was seeking $250,000 in exchange for 10% equity, which means a $2.5 million valuation.
Did Linka get a deal on the Shark Tank?
No, Linka did not get a deal on Shark Tank.
What happened to Linka after the Shark Tank?
Linka’s product has received quite a bit of interest in recent months, and they are now expanding their business by providing bike lock accessories such as chains and locks.
Is Linka still in business?
Yes, the company is still in business as of May 2021, with annual revenue of $4 million.
What if the battery runs out while the bike is still locked?
When the battery level falls below 30%, the owner will receive an early warning signal. Furthermore, Linka will not lock below 10% battery charge to prevent customers from becoming trapped.
How much does Linka costs to buy?
The cost of Linka is $159. It is available on Amazon.
When was Linka aired on Shark Tank?
Linka was aired on Shark Tank Season in February, 26th 2016.
