Courtesy of focusdesigns.com
1. The world's first self-balancing unicycle.
2. Lean backward, forward, left, and right to control your movement.
3. Runs on a re-chargeable battery-operated motor.View Similar Products at Amazon.com →
Great entrance! A bare stage. Two entrepreneurs enter the Tank on magic unicycles that have no pedals. They circle the Tank stage, and end with a sweet high-five. (I'm a high-five enthusiast ;)
Daniel and David have a great rapport, one being an uber-geek and the other the more traditional salesman. Kind of a good-cop/bad-cop for the tech age.
And what a cool product. "Cool" and "geeky" are pretty interchange-able terms in this day and age, but this product fits neatly into both categories. I can see the SBU really taking off up in Silicon Valley or somewhere quirky like Portland. I have trouble seeing it taking off in other metro areas, though, where sidewalk space is at a premium.
BUT, there are a couple of investment problems outside of that. First, the valuation of $3 mil - too high for such a niche product. Then, the comparison to the Segway, which everyone knows was a huge flop. Thirdly, the issue of having to trust your overseas manufacturing, which is always an issue, but is especially important here with a product that's inherently unsafe.
These hiccups don't seem to trouble Robert or Uncle Kevin, though. They go in together with $300,000 for 33% of the company, based on the revelation that the technology is currently being licensed to electric bike manufacturers and that has created a secondary revenue stream.
With that, Daniel & David wheeled out with a deal from the two biggest nerds in the Tank!
Daniel Wood & David Martschinske