SkyRide, founded by Scott Olson, appeared on Shark Tank Season 3, Episode 13, pitching a human-powered elevated monorail system designed for fitness and recreational use. Olson, the inventor of Rollerblades, sought $3 million for 20% equity, valuing the company at $15 million.
| Company Name | SkyRide | |
| Founder/Co-Founder | Scott Olson | |
| Founded | 2011 | |
| Product | Human-powered elevated monorail system | |
| Asked For | $3,000,000 for 20% equity | |
| Final Deal | No Deal | |
| Shark | No Shark | |
| Episode | S3 E13 | |
| Air Date | May 4, 2012 | |
| Business Status | Active (as Pittman Outdoors) | |
| Website | Visit Website | |
| Headquarters | Waconia, Minnesota, United States | |
| Annual (Revenue) | $900,000 | |
| Worth / Valuation | $15 million (2024) | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Scott Olson presented Skyride as an innovative, eco-friendly elevated monorail system powered by human pedaling or rowing. The system uses Rollerblade wheels and offers a unique fitness and recreational experience. Olson envisioned Skyride as a component of future urban mass transportation, aiming to reduce congestion and promote sustainable travel.
The Sharks were impressed by the invention’s creativity but expressed concerns about scalability, high production costs, and the lack of consumer sales to date. Kevin O’Leary criticized the business model as impractical, and others questioned the market size and construction challenges. Barbara Corcoran offered $3 million for 50% equity, which Olson declined. After tough negotiations and no agreement, Olson left without a deal.
Sharks Offers List
| Sharks | Offers |
|---|---|
| Barbara Corcoran | $3,000,000 for 50% equity (declined) |
| Mark Cuban | No Offer |
| Daymond John | No Offer |
| Robert Herjavec | No Offer |
| Kevin O’Leary | No Offer |
| Founder’s Counter | No Counter |
| Final Deals | No Deals |
SkyRide Shark Tank Update
Despite no investment from the Sharks, Skyride found success post-show, especially in the cruise ship and recreational markets. The company installed its human-powered monorail systems on Carnival cruise ships and other venues, generating approximately $900,000 in annual revenue by 2023.
Skyride continues to operate independently, focusing on adventure and fitness experiences. The company has about 25 to 35 employees and maintains ongoing development plans to expand its product line and market reach.
What is SkyRide’s Net Worth?
At the time of the Shark Tank pitch, Skyride was valued at $15 million based on the $3 million ask for 20% equity. Although the Sharks passed on investing, the company’s continued growth and niche market success have maintained this valuation. As of 2024, Skyride’s net worth remains approximately $15 million.
