Acton, a company with a vision for motorized shoes called RocketSkates, took their chance in Shark Tank. Although they didn’t secure the deal, how did they manage after returning from the stage empty-handed? What happened after Shark Tank? Here’s a detailed update and the net worth.
Acton Shark Tank Update
Despite not securing a deal on Shark Tank, Acton’s journey following their appearance on the show showcases their ability to thrive and succeed independently. Since then, its strategic steps have been meticulously calculated, resulting in remarkable rewards.
Acton’s entrepreneurial spirit and unwavering determination have propelled them forward, enabling them to carve a successful path in the competitive market. From rebranding efforts to introducing innovative electric mobility products, Acton has proven that they don’t necessarily need a Shark Tank investment to impact the industry significantly.
Rebranding as Acton Globally
Acton had a stunning transition following their first appearance on Shark Tank, changing their name to Acton Global and taking a new route. When the company decided to concentrate its efforts on the quickly growing market for electric scooters and bikes, this strategy decision turned out to be a turning point for the business. Acton put itself in the lead of the electric transportation sector with a fresh vision and more than $6 million in finance.
By redirecting its product lineup towards e-bikes and electric scooters, Acton seized the opportunity to tap into a growing market and explore new horizons. While RocketSkates were no longer part of their offerings, Acton’s embrace of change allowed them to set their sights firmly on the future. Their website now serves as a platform for selling these electric mobility solutions to cities and B2B clients, recognizing the potential for widespread adoption and the demand for greener transportation options.
This strategic shift towards e-bikes and electric scooters has proven to be a prudent decision for Acton. In the era of electric vehicular singularity, where sustainable transportation options are becoming increasingly important, these product categories have emerged as safer bets. Acton Global’s commitment to innovation and ability to adapt to changing market demands has positioned them as a key player in the electric mobility space, poised for continued success in a world rapidly transitioning towards a cleaner and more sustainable world.
New Product and Service Lineup After Rebranding
After rebranding themselves as Acton Global, they introduced the Acton M Pro 3.0, an electric scooter designed for urban mobility. With overnight API integration, mountain bike-grade fork Fork Suspension, and electric and mechanical locking capabilities, Acton aimed to provide a versatile and secure riding experience.
In addition to electric scooters, Acton Global entered the electric bike market with the Acton Nexus. With its cutting-edge features, Acton sought to cater to the needs of commuters and bike enthusiasts alike. However, it’s important to note that Acton’s scooters and bikes are only available through bike/scooter sharing services and not for direct sale.
Apart from increasing its global footprint to offer accessible and eco-friendly transportation options, it introduced a patented process that promises to disinfect any surface actively and will be used to the grips and handles of its riding gear. Furthermore, Acton has prioritized smartening the electrics to make them safer on the road, such as its new auto-monitoring system.
With its reach to a captive audience, Acton is not just limited to a product-based company, but now they are a service-based company as well. They offer a solution package of “Mobility as a Service” (MaaS) from multimodal cars, charging stations, and an asset management platform that allows people and commodities to be moved effectively and intelligently.
Acton Global also introduced the Duckt, a charging station for electric scooters and bikes. With a flexible layout and a 24″ tablet screen, the Duckt provides a convenient charging solution for users. The Duckt aims to enhance the overall user experience and facilitate the widespread adoption of Acton’s electric vehicles.
Acton Global’s electric scooters and bikes can now be found in over 100 locations worldwide, targeting large cities and college campuses. From San Francisco to Dublin, Santa Cruz to San Antonio, Ankara to Belgium, and even Qatar, Acton is expanding its reach globally.
Acton aims to meet the demands of urban dwellers seeking sustainable transportation options by focusing on high-traffic areas. Through its network of locations in major cities and college campuses, Acton Global empowers individuals to make conscious choices about their daily commute and contribute to a cleaner, more sustainable future.
With their zero-emission vehicles, Acton is revolutionizing urban mobility and offering greener alternatives for daily commutes. Through its global presence, Acton Global empowers individuals to make environmentally conscious choices and contribute to a cleaner, more sustainable future.
Changes in Social Media Presence
Acton Global’s social media profiles, such as Facebook and Twitter, have disappeared temporarily, most likely as part of the rebranding. This change correlates to their shift in emphasis on new goods and services. Even though its social media presence is lacking, Acton Global’s success remains constant.
Their achievements to date demonstrate Acton’s tenacity and adaptability in a highly competitive field. Acton Global continues to position itself as a key player in the personal transportation sector by emphasizing its new offers and strategic direction, demonstrating that social media presence is not the only indicator of company success.
Acton Net Worth
The estimated net worth of Acton is more than $30 million as of 2023. The company’s founder, Peter, showcased the valuation of Acton at $28.5 million when they first appeared on Shark Tank. Their annual revenue is more than $6 million.
Shark Tank Deal
Peter from Acton entered the tank with an offer: $1 million for a 3.5% equity in his company. Showcasing Acton Skates, Peter and his assistant demonstrated their product to the panel of investors.
Robert found the skates challenging to control and expressed needing more time to assess them accurately. He was impressed with the technology but hated the valuation they asked for and is out because he doubts if the guys are on the platform for any deal.
Ashton Kutcher, a guest on the show, believed that the asking price was too high for the target demographic, casting doubt on Acton’s affordability. While most of the sharks were uninspired by the demo, Kevin O’Leary offered to invest the desired $1 million.
Nevertheless, O’Leary stood firm on his negotiation terms, rejecting Peter’s attempt to lower the equity valuation to 15%. Acton’s appearance on Shark Tank illustrated the challenges and opportunities of seeking investment.
While some sharks were skeptical, Kevin O’Leary’s offer reflected his belief in Acton’s potential. This experience was a significant milestone in Acton’s journey, propelling them forward as they progress in the personal mobility market.
Is Acton Still in Business?
Acton, rooted in Silicon Valley, is still rocking its business as of 2023. After rebranding itself, it now provides electric scooters and bikes to specific locations, such as large cities with many big campuses.
With decent consumers on their side, Acton is supercharging our cities with over 50 patents, over 100 cities worldwide, and tens of millions of rides to facilitate them. With many cities across the globe trusting Acton’s product and their way of fighting global warming, the company has been witnessing real commercial success.
To wrap up their business status, they are in good business and provide multiple products and services, from electric two-wheelers to a wide range of solution packages under MaaS. Their commercialization methods for sustainable urban transportation solutions are enough to prove their entrepreneurial spirit.
Acton’s transition from RocketSkates to Acton Global reflects its adaptability in a competitive market. Their shift to electric scooters and bikes aligns with the demand for sustainable transportation. With innovative products like the Acton M Pro 3.0 scooter and Acton Nexus bike, Acton Global is already on track to make a significant impact.
What Is Acton?
Acton is an electric mobility company focusing on scooters, bikes, and skateboards. Their Acton M Pro 3.0 scooter and Acton Nexus bike are well-known. The company was originally known for its RocketSkates, but they have moved their attention to electric scooters and motorcycles.
Who Is The Founder Of Acton?
Peter Treadway founded Acton. He is the driving force behind Acton’s cutting-edge electric transportation products. Peter Treadway founded Acton to develop new and environmentally friendly travel solutions to satisfy the demands of urban commuters.
Where Is Acton Global Located?
Acton Global is headquartered in Silicon Valley, California, USA. Acton settled to set up its headquarters in this recognized hub of technical developments as a business focused on innovation and technology. Acton Global manages and expands its business from its Silicon Valley headquarters, providing electric mobility solutions to consumers worldwide.
What Does Acton Sell?
Acton Global offers a variety of electric mobility products for sale. Acton has moved their attention to electric scooters and bikes, replacing their original product, RocketSkates. Acton M Pro 3.0 electric scooter and Acton Nexus electric bike are available. Acton Global has also been marketing additional mobility and rental mobility services.