The rubber tire is old and unreliable technology. Brian Yennie and Earl Cole are using space-age technology to reinvent the wheel and headed to Shark Tank Season 13 to share their idea with the sharks. What will they think of these innovative tires? Here’s a full pitch recap and SMART Tire Company update.
Shark Tank SMART Tire Company Update
- Entrepreneur: Brian Yennie and Earl Cole
- Business: High-performance airless tires
- Ask: $500,000 for 2.5% equity
- Result: No deal
- Shark: None
SMART Tire Company is one of the most interesting companies on Season 13 so far, and partners with NASA to create sustainable tires made out of nitinol. This nickel-titanium hybrid doesn’t wear down or go flat, and Brian and Earl also have patents pending for rubber integration. NASA is helping them commercialize the use of the technology for tires.
While the sharks were impressed with the technology, the pitch fell apart quickly. When the sharks asked about the business side of things, they didn’t get the answers they were looking for.
Brian and Earl used equity crowdfunding to fund the company, and as Mark Cuban stated, this wasn’t a good thing for potential investors. Over the course of their pitch, they failed to explain how they would execute the business side of their company. As a result, the sharks hesitated to invest.
Then Brian and Earl revealed that a set of tires would cost $2,500 to $3,500. The sharks all agreed that this was too costly.
Lori Greiner thought it was too early, so she went out first. Mark didn’t believe they can operate the business, so he went out too. Kevin O’Leary went out next, followed by Kevin Hart. Barbara Corcoran thought the pitch was confusing, so she went out as well.
During our SMART Tire Company update, we found that the company was featured in multiple publications. Yahoo, Nerdist, SyFy Wire, and other popular sites were quick to pick up on the company and its unique take on airless tires.
The company has recently introduced a lighter and lower-cost version of the tires pitched on Shark Tank, and will hopefully have a physical product for purchase in the near future. You can find more information about the company and products at the SMART Tire Company website.
If Brian and Earl are able to start manufacturing products, we will be sure to have another Smart Tire Company update that includes some sales numbers.
Before you go, make sure to check out more company updates from Shark Tank Season 13 Episode 10:
Interested in more company updates from Shark Tank Season 13? Visit our Season 13 products page.