Developed by two experienced ski bike designers, Scott Carr and Bill Pierce, theTngnt Ski Bikeoffers an all-mountain ski bike with many improvements over existing designs. Carr and Pierce both worked for other bike companies designing ski bikes.
They noticed many design flaws and started working together on a better bike, founding their company in 2014. Two years later, they introduced their first design.
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Details of the Tngnt Ski Bikes Shark Tank Deal
Tngnt Ski Bikes Offer: $200,000 for 20% Equity
Pitch Valuation: $1 million
Did They Accept Investment: Yes
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Investing Sharks: Robert Herjavec
Winning Counteroffer: $200,000 for 40% Equity
Final Valuation: $500,000
Tngnt Ski Bikes Net Worth Now
- $1.7 million
Tngnt Ski Bikes has a current actual value of $1.7 million, in part due to its 19 patents.
Our Review of Tngnt Ski Bikes
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Tngnt Ski Bikesoffers three bike designs – Drift, Carve 2, and Carve 2 Pro. Each uses an easy-to-understand bicycle design that uses skis in place of wheels. You pedal the ski bike just as you would pedal a regular bicycle.
The bike design proves easy to stand up since the flat surface of the skis acts as a stand for both ends of the bike. This probably makes it easier for most people to ride since you don’t have to learn to balance it as you would a wheeled bike.
Whether you can ride on hard pack or fresh powder depends on your front suspension. We found it easier to do on packed snow.
Pros of the Tngnt Ski Bike
- Made by experienced engineers
- Uses patented design
- Easy to learn to use
- Offers winter transportation alternative to cross-country skis
- Comes with comprehensive owner’s manual
Cons of the Tngnt Ski Bike
- Costs more than most bikes
- Can only use it year-around in some climates
Who are Tngnt Ski Bikes for?
If you live in an area that receives snow each year, the ski bike could provide useful. Because it uses the same design shape as a traditional wheeled bike, you can attach bike bags under its seat and on its handlebars. That makes it easier to run errands and carry groceries or sundries. Using cross-country skis limits you to only what could fit in a backpack.
Ostensibly, the ski bike provides a relatively new winter sport. The first ski bike debuted in 1949. The bikes have a much greater audience than that though if marketed to winter weather climates. More fun than a snowmobile and affording an opportunity for exercise at a time when people typically become snowed-in, the bikes could enjoy a large market.
Are There Any Alternatives?
The winter sport of ski biking began in 1949, so many other options exist, but Tngnt Ski Bikes use a patented design that addresses many problems present in other bikes.Sno Gooffers the most competitive design but costs about $1,000 more. Some traditional bike designers, like Jenson, also offer ski bikes. Typically, winter sports companies offer an option for snow bikes.
Other Pitches from this Episode of Shark Tank
Crispy Cones Pastry Dough Ice Cream Cones, a fresh dough cone you can top with ice cream and fruit received funding from Barbara Corcoran.
Chubby Buttons Wearable Remote for Cell Phones, a big button remote for controlling your phone while participating in sports, received no funding.
Autio, the audio travel guide, lets you learn the history of a place as you visit it through three to five-minute audio clips narrated by notable actors, received no funding because the owners would not negotiate more equity for the investor.
Our Final Thoughts
Tngnt Ski Bikes offers a useful development on an existing invention. The ski bikes offer a comfortable way to run errands in the snow and participate in winter sports. They’re easy to learn to use and take up the same amount of storage space as a traditional cycle. You can hang them on wall mounts for storage to keep them out of the way.
Tngnt offers a superior design to most ski bikes since its developers worked for other ski bike manufacturers before striking out on their own. Their bike designs leverage the 19 patents that owners Carr and Pierce developed. The pair designed their ski bicycles for use by novices and experts.
Tngnt’s line consists of three choices, each designed for a different level of sporting experience. The nimble Drift offers the best design for someone new to ski biking whether they want the bike for sports or running errands in winter weather.
