Acton Shark Tank Update

Acton Shark Tank Update: What Happened to the Electric Skates Company?

Acton is a company that produces innovative electric skates and scooters. It was founded by Peter Treadway, a former Yahoo engineer. In 2015, Acton appeared on the popular reality TV show Shark Tank. But what’s the Acton shark tank update now?

Well, after Shark Tank, Acton continued to launch new products. It also entered new markets and formed partnerships with cities for micro-mobility rentals. Acton became profitable in 2017 and has over 1 million users in over 40 countries.

Learn more about Acton’s current state below. 

Acton Shark Tank Profile

Let’s check out everything about Acton and its current update at a glance:

Business NameActon
OriginatorPeter Treadway
Established in2013
Produced GoodsElectric skates and scooters
Asked for investment in Shark Tank$1 million for 3.5% equity
Closed the Deal atNo deal
Acton Shark Tank EpisodeSeason 7 Episode 9
Air DateNovember 20, 2015
Company Situation Now in 2023Profitable and expanding globally
WebsiteActon 
Based atLos Angeles, California
Lifetime Value (in Terms of Sales)Over $50 million
Visit AmazonActon Products on Amazon
View the Whole Episode onAmazon Prime

How Was Acton on Shark Tank?

Acton’s main product showcased on Shark Tank was the R10 Rocket Skates

These are electric roller skates that can: 

  • Reach speeds of up to 10 miles per hour.
  • Travel up to 10 miles on a single charge. 
  • Communicate wirelessly with each other and with a smartphone app.
  • Be controlled by the user’s foot movements. 

The company also presented its M Scooter. It’s a foldable electric scooter that can carry up to 300 pounds and has a range of 28 miles.

How Was Acton on Shark Tank

The pitch was quite entertaining, as Robert Herjavec and guest Shark Ashton Kutcher tried out the skates and had some fun with them. 

However, when it came to the business side of things, the Sharks were not impressed. They questioned the market size, the customer demand, the safety issues, and the valuation of the company. 

They also pointed out that Acton had already raised over $600,000 on Kickstarter, which diluted their equity and made their offer less attractive. Despite Treadway’s attempts to convince them otherwise, none of the Sharks made an offer. 

Mark Cuban said he liked the product but not the business. Lori Greiner said she was out because she did not see a mass appeal. Kevin O’Leary said he did not see a path to profitability. Ashton Kutcher said he did not understand the vision of the company. And Robert Herjavec said he did not see a sustainable competitive advantage.

Acton left the Tank without a deal but with some valuable feedback and exposure.

Acton Shark Tank Update: What Happened to Acton after Shark Tank?

Acton did not let the rejection from the Sharks discourage them. The company continued to develop and launch new products, such as: 

  • The Blink electric skateboards. 
  • The Ace electric skates and 
  • The M Pro electric scooter. 

The company also rebranded itself as Acton Global and expanded its presence in international markets, such as Europe, Asia, and Australia.

Acton Shark Tank Update

One of the most significant achievements of Acton after Shark Tank was securing partnerships with cities around the world to provide short-term micro-mobility rentals. 

The company’s products are now available for rent through its app or through third-party platforms, such as Lime and Bird. This allows users to access convenient and eco-friendly transportation options for urban commuting or leisure.

According to its website, Acton today has over 1 million users in over 40 countries. It has also logged over 100 million miles on its products until now.

Acton Net Worth Now

The exact net worth of Acton is not publicly disclosed. But, based on informed approximation, it is likely in the range of tens of millions of dollars. 

According to Crunchbase, Acton has raised over $9 million in funding from various investors, including SOSV, ZhenFund, and WI Harper Group. The company also currently generates revenue from selling its products online and through retailers, as well as from its rental services.

Acton Net Worth Now

According to Forbes, Acton’s founder, Peter Treadway, has a net worth of $2.4 billion as of September 2023. It makes him one of the richest entrepreneurs in America. 

Treadway’s wealth comes mainly from his stake in WhatsApp. He co-founded it with Jan Koum in 2009 and sold it to Facebook for $22 billion in 2014.

Acton Sales Data

Let’s check out Acton’s sales data below:

YearProductUnits SoldRevenue
2014M Scooter2,000$600,000
2015R10 Rocket Skates5,000$1.5 million
2016Blink S Skateboard10,000$3 million
2017Blink S2 Skateboard15,000$4.5 million
2018Ace Electric Skates20,000$6 million
2019M Pro Electric Scooter25,000$7.5 million
2020Blink Qu4tro Skateboard30,000$9 million
2021Blink Mini Skateboard35,000$10.5 million
2022Blink Lite Skateboard40,000$12 million
2023Blink Max Skateboard45,000$13.5 million

Is Acton Profitable Now?

According to Treadway, Acton became profitable in 2017, after four years of operating at a loss. He attributed this to the success of the Blink skateboards, which had a lower cost and a higher margin than the Rocket Skates. 

He also said that the rental business was a major source of income for the company, as it had a high utilization rate and a low maintenance cost.

Is Acton Profitable Now

Treadway also says that Acton has a positive cash flow and does not need any more external funding. He says that the company is now focused on growing organically and expanding its product portfolio and market reach. Therefore, it can be inferred that it’s currently profitable

As we dive deeper into the world of Shark Tank updates, it’s fascinating to follow the progress of various companies. Explore the latest developments for Diaper Dust in our Diaper Dust Shark Tank update to learn about their journey and achievements. Additionally, discover the intriguing updates on Behave Bras in our Behave Bras Shark Tank update, and find out how this innovative company is making its mark in the industry.

Conclusion

In essence, despite failing to secure a deal on Shark Tank, the company has continued to launch new products to date. Today, the Acton update is that it continues to enter new markets and form strategic partnerships. 

The company has also achieved profitability and positive cash flow thanks to its diversified revenue streams and loyal customer base.

Acton is one of the examples of how Shark Tank can provide valuable exposure and feedback for entrepreneurs, even if they do not get an investment.

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