SBU Shark Tank Update

SBU Shark Tank Update: Is the Company Still in the Industry? 

David and Daniel made a grand entry in the tank on their unicycles and high-fived each other to start the pitch. They appeared on Shark Episode 7, Season 4, asking for $300,000 at a 10% stake in SBU (Self Balancing Unicycle). 

However, what is the SBU Shark Tank update now? After the pitch, they explained that their cycling process was easy and could be learned within 20 minutes, and they had patents over the unicycle. The sharks asked to reconsider their ask and offered $300,000 for 33% equity. Both the founders agreed and closed the deal. 

Now, want to know more about the latest SBU update? Let’s binge on through the SBU Shark Tank update blog. 

SBU Shark Tank Profile

The table below states the following details about SBU and its overall profile in the Shark Tank.

Company NameSBU (Self Balancing Unicycle)
Product TypeSelf-balancing unicycle 
FoundersDavid Martschinske and Daniel Wood
Founded In2007
Net WorthAround $5 Million
Asking Price$300,000
Equity Stake10%
Valuation$3 Million
Shark’s Offer$300,000 at 33%
Deal Closed At$300,000 for 33%
SharksRobert Herjavec and Kevin O’Leary
Episode No7
Season 4
Current Business Status Not in Business
Air DateOctober 26, 2012
SBU HeadquartersCamas, Washington
SBU WebsiteClick Here
SBU Social MediaTwitter
Go To AmazonBuy Now
Watch OnAmazon Prime

SBU on Shark Tank: What happened?

In the show, founders Daniel Wood and David Martschinske rode unicycles onto the stage, attracting the Sharks. They displayed their innovative and creative self-balancing electric unicycle, SBU, with matching helmets and shirts. 

Then, they delivered a dynamic presentation of their product, asking for $300,000 for 10% of their company. David explained how SBU’s smart sensors balance like Segways and how it lets Daniel ride the unicycle easily. 

SBU on Shark Tank

The Sharks were quite fascinated, especially Mark Cuban. According to the founders, the SBU can easily go up to 10 miles on a charge and take on a 15 mph speed.

Robert attempted to ride the unicycle, exhibiting the learning curve. Kevin also expressed his interest in buying one of these unicycles. The founders offered Kevin one for free if a contract was made at $1,800. 

However, Lori withdrew out of product passion concerns. Plus, Daymond and Kevin hesitated owing to market failures. Robert’s $300,000 for 33% equity was unfavorable. So, both Kevin and Robert teamed up because SBU’s technology was so promising.

The founders finally agreed on the deal and shook hands with the two most staggering sharks on the show! 

What Happened to SBU After Shark Tank? 

The Solowheel, a product that wasn’t even on the market, got the first sales due to the help of Kevin and Robert. 

The company started to get a lot of sales and many orders were even placed on their website. And this all started to grow even more when the SBU Shark Tank episode was telecasted. Even at one point, it was getting difficult for the founders to maintain the delivery dates due to the burst of intense orders. 

What Happened to SBU After Shark Tank

The SBU company does have an active website, but they have discontinued the sales service. So, the company is out of the industry at this moment. 

Daniel still remains in the self-balancing unicycle industry and has developed the Hovertrax self-balancing hoverboard and the Solowheel unicycle. Future Motion, a skateboard-like vehicle company, took in the entrepreneur as the Director of Control Systems.

However, David left the unicycling industry and now develops military-grade electronics. In a nutshell, the SBU today is no longer available, but due to the exposure of the Shark Tank, the founders are doing pretty well in their separate career fields. 

SBU Estimated Net Worth and Sales Data

Since the business is not in progress anymore, so no sales data or other revenues are found. But it has been estimated that the sales they got from the Shark Tank appearance were quite remarkable. 

Therefore, the estimated net worth could have been somewhere between $5 million. However, the figure isn’t specific, and the numbers can surely vary. 

Is SBU Profitable Now? 

As the company itself is not in business anymore, it’s evident that it’s not making any profits anymore. However, the founders made a website for their SBU company, Focus Designs, which is still online. But the site now says that the SBU is shut down and that it no longer sells any products. 

Is SBU Profitable Now

Plus, if you try to find the product on Amazon using their link, it shows an error. Even though the SBU is not in the industry anymore, Daniel Wood has kept working in the self-balancing unicycle business. 

Moreover, he helped make the well-known Hovertrax self-balancing hoverboard and the Solowheel, which is also like a bicycle. 

Experience the dynamic evolution of Swimply and stay up-to-date with the latest updates from Shemie. Witness how these entrepreneurs have taken their businesses to new horizons after their appearances on Shark Tank. From innovative concepts to real-world success stories, learn how they’ve navigated challenges and embraced opportunities, making their mark in the entrepreneurial landscape.

Bottom Line

There are businesses that leave a mark in the industry, and there are businesses that leave the industry. SBU has been the business that had to leave the industry, maybe because it was a “solution looking for a problem.” So, how was SBU on Shark Tank

After the show, the founders rejected the deal as their whole purpose was to get an advertisement to reach the audience. Although both the founders have set sail in different careers, SBU got lost and is currently out of business. 

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