VibeRide, the largest skateboard company founded by Charlie Cannon, Chris Goodhue, and Carson Macdonald, aired on the 15th season of Shark Tank USA in 2024. The founders were seeking $250,000 for 10% equity for their business. However, they secured a deal with Mark Cuban, which was $250,000 for 12% equity. In this article, we will explore VibeRide’s net worth in 2024, its Shark Tank pitch summary, and more.
VibeRide Net Worth
As of 2024, VibeRide’s net worth is $2.5 million, and its annual revenue was $600K in 2023.
| Net worth | $2.5 million |
| Annual Sales Revenue | $600K (2023) |
| Profits | Not Available |
| Lifetime sales | $600K (2023) |
| Employees | 3-10 employees |
VibeRide Net Worth Timeline
| Net Worth 2024 | $2.5 million |
| Net Worth 2023 | $2 million |
Shark Tank VibeRide Update from Season 15
The founders of the VibeRide company, Charlie Canon, Chris Goodhue, and Carson MacDonald, stepped onto the Shark Tank stage with excitement. There, they introduced their business, VibeRide, asking for $250,000 in exchange for 10% equity, valuing the company at $2.5 million. VibeRide started as an idea of their passion for skateboarding and the challenge of navigating Utah’s steep downhill paths.
The roots of their business go back to 1999 when an Australian company called Brakeboard introduced the first longboard brake after years of development. Fast forward to 2023, VibeRide acquired Brakeboard’s designs and patents and worked to enhance the original Rat Brake. VibeRide spent three years redesigning the brake, reducing the number of parts by 30%, boosting its performance, and fixing overheating issues. It uses small ceramic disc brakes, similar to those found in cars, to let skateboarders stop without needing to foot-brake.
The sharks were impressed when the team gave them custom boards in the Shark Tank. The founders said they tested the VibeRide brake system at up to 50 MPH speeds, and experts highly praise the product. Moreover, they also highlighted that their Pro Brake kit, priced at $149, and a complete board, priced at $259, offer exceptional value for money. Further, depending on the features, they offer two other models priced between $129 and $189, making it a versatile and affordable investment.
Mark Cuban showed interest early on, asking about production costs. Co-founder Charlie explained that the company maintains a solid 63% profit margin on each product sold. Kevin O’Leary then asked how widespread the brake system alone was among customers. Charlie responded that sales were evenly split, with 50% of customers buying just the brake and 50% choosing the complete skateboard.
Guest shark Candace Nelson asked why skateboards never had brakes before. The founders were surprised too, but now that they had developed one, they proudly shared that they hold six patents for it.
There, Charlie also explained how he contacted the only company that had ever made skateboard brakes and bought their patents. Daymond John then asked Charlie about his investment in the business. Charlie explained that he had invested $1.2 million into VibeRide, with $450,000 used to buy all the skateboard-with-brakes patents in the USA.
Lori Greiner admired the entrepreneurs and asked about their backgrounds. Charlie explained that he sold one of his businesses for $3 million, and another venture he started generated $15 million in sales. Also, he added that his team had been working with him for years, with engineering, marketing, and branding expertise. Further, Charlie explained that VibeRide was built on their love for skateboarding. There, what impressed the sharks even more was that they were all still in their 20s but had already achieved significant success.
All the sharks admired their athletic passion, but further, Kevin brought the focus back to business, asking about recent sales. Charlie explained that VibeRide had just finished its pre-sale phase two months ago, earning $150,000. Moreover, they projected the company would reach $600,000 by the end of the year.
Among the sharks, Mark Cuban was the shark that offered the first deal for the product. He offered $250,000 for 15% equity. But Charlie countered with $350,000 for 15% equity. Mark then responded with $250,000 for 12% equity. Charlie countered again with $265,000 for 12% equity, but Mark stayed with his second offer. Ultimately, Charlie and his team accepted Mark’s offer and left the Shark Tank show, valuing the company at $2.08 million.
| Company Name | VibeRide |
| Founders | Charlie Cannon, Chris Goodhue, and Carson Macdonald |
| Business | Skateboard with brakes |
| Episode | Season 15, Episode 10 |
| Asked Deal | $250,000 for 10% equity |
| Final Deal | $250,000 for 12% equity |
| Shark | Mark Cuban |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Salt Lake City, Utah, USA |
Summary of the Sharks’ Deal List!
| Shark | Offer | Counteroffer |
| Mark Cuban | 01 – $250,000 for 15% equity 02 – $250,000 for 12% equity (Accepted Deal) | 01 – $350,000 for 15% equity 02 – $265,000 for 12% equity |
| Kevin O’Leary | No | N/A |
| Lori Grinear | No | N/A |
| Daymond John | No | N/A |
| Candace Nelson | No | N/A |
What Happened to VibeRide after Shark Tank?
As of September 2024, the VibeRide is still in business. VibeRide’s appearance on Shark Tank brought a massive boost in popularity, with over 7 million viewers giving them great exposure. VibeRide’s TikTok channel features videos showing how easy and effective the brake system is, quickly growing the brand’s popularity. Moreover, Recently, Braille Skateboarding, a YouTube channel with nearly 6 million followers, where Cannon was invited to create a video.
VibeRide Founders
Charlie Cannon, one of VibeRide’s co-founders, has been an entrepreneur from a young age. Charlie, who had previous success with his drone company, EXO Drones, brought valuable experience in business and technology. Also, his knowledge of the internet and social media marketing helped VibeRide proliferate.
His early success as a business leader gave him the confidence to dive into future ventures. While in college at the University of Utah, Charlie met Carson Macdonald, a Dixie High School graduate with a mechanical engineering degree. He worked as a metal fabricator and later worked for the Fabrication and Design team at AK Masonry & Concrete. The two became best friends and formed a strong bond over their shared passion for skating.
Chris Goodhue, a valuable addition to the team, brought his editing and video production skills to VibeRide. Moreover, His expertise in content creation and marketing further strengthened the team’s ability to reach and engage with the audience.
Their shared love for skating led them to launch VibeRide in 2020 to create a safe skateboard braking system. They bought every skateboard brake patent available. After three years of developing various skateboards and brake systems, VibeRide officially began sales in 2023.
VibeRide Achievements and Awards
| Year | Achievements and Awards |
| 2024 | The company was featured on Shark Tank Season 15 an got the deal from Mark Cuban |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. VibeRide was one of the ventures featured on the show. They made a deal with Mark Cuban, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 10.
