Coolpeds Net Worth Shark Tank Update 2025

A startup called CoolPeds made its Shark Tank debut in Season 9. CoolPeds was founded by Tony Chan. He developed a brand-new kind of scooter. Baggage can be stored on the CoolPed scooter. Those who travel frequently will love this. Tony came up with the concept since he needed a better way to transport his bags while riding an electric scooter. His goal was to simplify commuting.

He therefore developed a product that merged a little electric scooter with luggage. The item might help you move around and carry your bags. Tony requested $250,000 from the sharks in exchange for 5% of his business. He hoped the sharks would help him expand his company. Tony’s arrival on the show was spectacular. Will the entrepreneur get a deal on Shark Tank? Check out Coolpeds update to find out!

Coolpeds Net Worth Shark Tank Update 2025

Troy and Heidi Amdahl asked for a $500k investment in exchange for 10% equity in their company. This meant they valued their company at $5 million. They made a deal with Mark for $500k in exchange for 25% equity in their company. This new deal valued their company at $2 million. After the show aired, The Better Bedder saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of The Better Bedder in 2025 is about $2.2 million.

CoolPeds was not given a Shark Tank deal. Things didn’t go as planned for Tony Chan after the show. The business encountered issues. They had numerous problems with their IndieGoGo financing effort. Orders were not delivered to backers. Some had to request reimbursements. Tony was disqualified from IndieGoGo as a result.

Additionally, there were issues with the CoolPeds scooters. Bikes were given to certain funders, but they had safety issues. The motorcycles couldn’t be used. The Ampere automobile project later encountered issues as well. Tony’s business failed to inform clients of the car’s condition. Depositors were requesting refunds. Since 2019 the business has not updated its social media accounts.

Amazon no longer carries CoolPeds products. The lack of communication from the corporation infuriated many. CoolPeds was no longer in business as of 2021. CoolPeds’ future appears dubious. Zoom Scooters is the new name under which the CoolPeds scooter is now offered for sale. Whether the business is still in operation is unknown.

No, CoolPeds did not get a deal on Shark Tank. Tony Chan asked for $250,000 for 5% equity in his company. However, none of the sharks made an offer. Each shark had their own reason for not investing. Mark Cuban thought the product was “cool” but he didn’t think the 5% equity stake was enough. Barbara Corcoran didn’t think scooters would work well in airports.

Lori Greiner said she didn’t have enough expertise in the car market. Kevin O’Leary thought the equity stake was unattractive and suggested Robert Herjavec might be a better fit. Robert Herjavec said he was interested in either the car or the scooter but not both. After hearing all the reasons the sharks gave Tony ended up with no deal.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Barbara Corcoran	out	N/A	N/A
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	Out	N/A	N/A
Robert Herjavec	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

Coolpeds Shark Tank pitch

Tony Chan was well-versed in technology. He had always been interested in solving common problems and engaged in product design. CoolPeds was born because of his personal necessity. Tony frequently travelled for work and found it challenging to use a scooter while carrying bags. He recognised a chance to develop a solution that combined a scooter and luggage.

Travelling would be simpler as a result. In 2016 Tony began developing the product. He created the original CoolPeds prototype by applying his expertise in technology and design. But developing a new product wasn’t simple. Tony’s early development had its share with difficulties.

Finding the ideal balance between usefulness and design was one of the most difficult tasks. The scooter has to be lightweight enough to be used as a scooter and sturdy enough to support luggage. Finding the appropriate materials was another difficulty. Tony was concerned about the product’s longevity and client safety. He had to put in a lot of effort before he could show the sharks the goods.

Tony made an impressive appearance on Shark Tank. On one of his CoolPeds, he rode onto the set. The dramatic and entertaining entrance impressed the sharks. Kevin O’Leary was eager to test out the scooter. Tony gave an explanation of CoolPeds’ concept. He demonstrated the scooter’s user-friendliness and capacity to accommodate luggage.

He then offered the sharks an opportunity to test the substance. When Kevin tried a stagehand, he nearly toppled it. Tony began discussing the business side after the sharks enjoyed themselves on the scooter. He clarified that throughout the previous 18 months, CoolPeds had generated $500,000 in sales. Each scooter sold for $399 after costing $170 to produce.

Tony also shared that the company had received $20,000 in crowdfunding from IndieGoGo. He was hoping that the sharks would invest in his company to help it grow. Tony asked for $250,000 in exchange for 5% of his company. He believed the product was unique and could be a big success.

CoolPeds was the subject of numerous queries from the sharks. Mark Cuban enquired about the scooter’s cost. He wanted to know if the product would be worth $399. According to Tony, the scooters were made to last. He said that they offered good value for the price. Kevin O’Leary was curious about CoolPeds’ sales figures. Tony told him that they had made $500,000 in sales in the past 18 months.

Robert Herjavec enquired about the scooter’s safety. Although Tony acknowledged that there was still room for development, he clarified that the scooter was safe. He also demonstrated the Ampere electric automobile to the sharks. Tony was also working on this product.

CoolPeds was the subject of numerous queries from the sharks. Mark Cuban enquired about the scooter’s cost. He wanted to know if the product would be worth $399. According to Tony, the scooters were made to last. He said that they offered good value for the price. Kevin O’Leary was curious about CoolPeds’ sales figures. Tony told him that they had made $500,000 in sales in the past 18 months.

Robert Herjavec enquired about the scooter’s safety. Although Tony acknowledged that there was still room for development, he clarified that the scooter was safe. He also demonstrated the Ampere electric automobile to the sharks. Tony was also working on this product.

None of the sharks made an offer. After all the questions Tony answered, each shark gave their reason for passing on the deal. Mark Cuban said the 5% equity stake was too low. He also thought the scooter was a fun product but not a big enough business opportunity. Barbara Corcoran didn’t think scooters would work well in airports. She felt there were too many obstacles to making the product practical for travel.

Lori Greiner said she didn’t have the expertise needed to help the company. Kevin O’Leary felt the equity stake was unattractive. He suggested that Robert Herjavec might be a better fit for the business. Robert said he liked the scooter but wasn’t interested in both the scooter and the car. He only wanted to invest in one of them. In the end, Tony did not get the investment he was hoping for.

What Went Wrong With Coolpeds  On Shark Tank?

There were several reasons why CoolPeds did not get a deal on Shark Tank. One of the main reasons was that the equity stake offered by Tony was too low. The sharks felt that they would not get enough return on their investment for only 5% of the company. Another issue was the practicality of the product. Barbara Corcoran felt that the scooters wouldn’t work well in airports.

She didn’t think there was a big enough market for the product. Lori Greiner admitted that she didn’t have enough experience in the car market to help with the Ampere car. Kevin O’Leary found the equity stake unattractive. He suggested that Robert Herjavec might be a better fit for the business. Robert however didn’t think he could invest in both the scooter and the car. He wanted to focus on one product. These factors led to the sharks deciding not to invest.

Product Availability

Products from CoolPeds were offered online. The cost of the scooter was $399. They might be found on the business’s website. Crowdfunding websites such as IndieGoGo also sold the scooters. However, after the Shark Tank appearance, the availability of the products became an issue. Order fulfilment was a challenge for the business. Customers were upset when they didn’t receive their products.

There were problems with the Ampere automobile project as well. Customers were left wondering about its status because it was still in the prototype stage. The company stopped updating its social media accounts in 2019. The products were no longer offered on Amazon as of 2021 and the business had ceased posting on its website. Zoom Scooters is the new name under which the CoolPeds scooter is now offered for sale.

Conclusion

CoolPeds faced numerous obstacles despite having an intriguing idea. Tony Chan invented a scooter that made commuting easier and could accommodate luggage. Regretfully, the business did not secure a Shark Tank deal. The show caused issues for the company. They experienced problems with client refunds and their crowdsourcing effort.

There were issues with the Ampere automobile project as well. The future of the company is unknown. A new name for the CoolPeds scooter has been introduced. The company has not updated its social media since 2019. It appears that CoolPeds is no longer operating.