Revolutionizing Transportation and Leisure: The SkyRide Innovation by Scott Olsen
SkyRide, created by entrepreneur Scott Olsen, is widely recognized for his most famous invention, Rollerblades.
Olsen presented his latest creation on Shark Tank during season 03, episode 13, seeking funding to expand his business and introduce more franchises.
SkyRide is a revolutionary human-powered transportation system designed for fitness, leisure, and sport. SkyRide offers a Gravity Series for an enhanced flying experience with electric assist.
Its flexible SkyTrack fits any landscape, ensuring safe and enjoyable rides with collision avoidance features.
The SkyRide is capable of operating in all weather conditions, making it a popular attraction on Carnival Vista cruise ships.
SkyRide track and vehicle incorporate Rollerblade wheels, adding a unique touch to the concept.
Scott Olsen envisions SkyRide as more than just a personal project; he aims to develop it into a mass transit system.
SkyRide combines bicycles and monorails to offer a unique experience similar to a theme park ride that allows riders to experience their own pace on a carbon-neutral rollercoaster ride.
SkyRide is one of the most thrilling additions to Carnival Cruise Lines’ ships, adding a thrilling experience to the top deck with breathtaking views of the ocean.
Founded in 2012 by Scott Olsen, Sky Ride reflects his passion for innovation and product development.
As the CEO of SkyRide and owner of OS Designs, a production company dedicated to testing new products, Olsen’s commitment to creating unique and engaging experiences shines through in SkyRide.
SkyRide’s concept, developed nearly two decades ago, aims to provide a safe and enjoyable alternative to traditional cycling for exercise and transportation.
The suspended vehicle on a rail, operated by the rider inside, offers various modes of exercise, such as rowing, cycling, and gliding, catering to fitness, pleasure, and transportation needs.
Designed with inclusivity in mind, SkyRide ensures accessibility for users with disabilities, allowing them to partake in the high-speed experience.
Scott Olsen’s innovative spirit, exemplified by his invention of Rollerblades, continues to drive him towards revolutionizing transportation and leisure with SkyRide.
SkyRide Shark Tank Pitch Summary
The founder of SkyRide started the business with a passion for outdoor adventure and a vision to revolutionize the way people experience nature.
In the Shark Tank pitch, the founder was seeking a $200,000 investment in exchange for a 10% equity stake in the company.
Despite the innovative concept of SkyRide, the sharks ultimately did not see eye to eye with the founder on the potential success of the product.
They had reservations about market competition, scalability, revenue model, long-term profitability, and financial projections.
After discussing the product and its market potential, none of the sharks were willing to invest in SkyRide under the terms presented by the founder.
Sharks’ Views on SkyRide:
- Mark Cuban: Impressed by the concept but hesitant about the market competition.
- Barbara Corcoran: Saw potential but raised concerns about scalability.
- Kevin O’Leary: Questioned the revenue model but acknowledged the product’s uniqueness.
- Lori Greiner: Liked the branding but felt unsure about long-term profitability.
- Robert Herjavec: Believed in the founder’s vision but wanted to see stronger financial projections.
SkyRide After Shark Tank: Scott Olson’s Success Story Unveiled
Scott Olson, the mastermind behind SkyRide, has proven that failure is not an obstacle to success. Despite not securing an investment in the Shark Tank show, Olson’s business continues to flourish.
The biggest success story at the moment is the exciting partnership between SkyRide and Carnival. SkyRide’s thrill rides are now available on Carnival’s new Vista ships, providing passengers with a unique opportunity to enjoy breathtaking ocean views from the ship’s sports deck.
In addition to the Carnival Vista SkyRide, Olson is diligently working on establishing Skyclubs worldwide. These Skyclubs will house SkyRide units, allowing visitors to access the machines for fitness purposes at a nominal fee.
Following his appearance on Shark Tank, Scott Olson and his innovative product garnered significant media attention, with many viewers expressing their belief that the evaluation was unjust.
Despite not generating revenue post-Shark Tank, SkyRide remains steadfast in its sales efforts and has several projects in the pipeline. The company aims to have one or two operating systems ready by the end of the year, with plans to introduce a third ride on Carnival Cruise Ships in 2020.
Carnival has hailed SkyRide as the most popular attraction on their ships, with an annual income of $900,000. Scott Olson’s dedication to SkyRide is unwavering, inviting Carnival Vista cruise passengers to experience the thrill firsthand.
The SkyRide track, spanning 800 feet and positioned 150 feet above sea level, offers speeds of up to 25 miles per hour. This track commenced operations in May 2016, providing passengers with an exhilarating experience unlike any other.
Scott Olson’s journey with SkyRide exemplifies resilience and determination, showcasing that true success knows no bounds.
There have been no updates about SkyRide after its appearance on Shark Tank. However, SkyRide’s website is still active. SkyRide is still in business with a net worth of $1 million.