Hover Shoes are the product of Zuum Technologies, an electric firm. Hover Shoes are a mode of transportation that makes it simple to get to any nearby area.
These days, many individuals use electronic devices, and electric scooters are all the rage in the United States. ZUUM Technologies was founded in 2018 by Guy Chico Guerra and Mason Buechler to stay ahead of the curve in this area.
Zuum Shoes Net Worth
This firm imports Hover Shoes from China and rebrands them under its own label for sale to the general public. On January 22, 2019, they began a Kickstarter campaign, which ultimately brought in $24,253.
Chico and Mason went on Shark Tank: Season 11 Episode 10 to raise money for their business, offering the shark $125,000 in exchange for 20% stock at a $694k valuation.
What is Zuum?
Zuum is a tech firm, and its first product is a pair of electronic shoes called Hover Shoes. This gadget makes use of a twin 350W Dynacore brushless motor and can lift up to 7 pounds.
These hover shoes have a maximum speed of 12 kilometers per hour and can be recharged in 120 minutes. This sneaker retails for $250 and can be purchased from retailers like Amazon.
Was ZUUM’s Presentation on Shark Tank Successful?
Chico and Mason went into the shark tank, pitched their company idea, and requested $125,000 in exchange for 20% equity. They’ve gone on Shark Tank to solicit money in exchange for individualized product concepts.
The sharks have all agreed that this is not a good time to invest, therefore they have all left the building.
What Happened To Zuum After Shark Tank?
In Shark Tank, Zuum was unable to get a transaction. The sharks all passed on this opportunity. Investors are reluctant to put money into the company since its founders do not have an exclusive relationship with a manufacturer or a proprietary product of their own.
Many companies are releasing their own versions of hover shoes after this episode of Shark Tank aired. Competition in this firm’s market has increased significantly in recent years.
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