What Happened To SkyRide From Shark Tank Season 3?

Imagine a fitness experience that fuses the thrill of a roller coaster ride with the practicality of a bicycle. That's the inspiration for SkyRide, an elevated, human-powered monorail system where riders will have to pedal or row through the air in a secure capsule along a suspended track — literally a ride in the sky. Invented by Scott Olson, the man responsible for the Rollerblade brand, SkyRide was designed to revolutionize recreation and transportation from the get-go. While it may not share the mainstream consumer appeal of its wheely-toed predecessor, SkyRide offers a unique combination of exercise, adventure, and futuristic design — three things that Olson was banking on to sell the product.

Before SkyRide, Olson had experienced monumental success with Rollerblades, which became a global phenomenon in the 1990s and changed inline skating forever. However, financial hardship struck when a business partner allegedly embezzled his profits, leaving Olson eager to reclaim his footing with a new invention. With SkyRide, his goal extended far beyond backyard fitness as he envisioned urban installations that could serve as sustainable alternatives to traditional transportation methods, especially in traffic-congested cities. 

In 2012, Olson took this vision to the national stage by pitching SkyRide on ABC's "Shark Tank," in hopes of securing an investment that could propel his big dreams for the project. Olson presented his pitch during Season 3, the same season that saw the Miso media app and the UniKey mobile phone-powered smart key score deals with the sharks before exiting the tank.

Olson was determined to land a deal when he stepped into the tank. He presented the potential of his product and even dubbed it a form of recreation in the sky that promotes fitness and sustainability. Olson was seeking $3 million for 20% equity in a company he claimed to be worth $15 million. However, he seemingly lost the sharks' interest when he disclosed that he hadn't made any sales as of the time of filming. Olson appeared in Season 3, Episode 13, which aired in May 2012.

In an attempt to sway the sharks, Olson brought up the success of his previous invention (Rollerblades), noting that he made millions out of that product before hitting a snag with his former business partner. The issue led him to develop SkyRide, into which he had already invested $500,000 of his own money. He also shared that he had a working prototype in his backyard, and he wanted to bring the product to municipalities, ski resorts, and campuses as an alternative to driving. 

Despite Olson's enthusiasm, SkyRide suffered the same fate as the Sullivan Generator, which failed to secure a deal with the sharks during that season. Barbara Corcoran and Daymond John admired Olson's prior success but didn't see SkyRide's marketability, same with Robert Herjavec. Mark Cuban liked the idea but found concerns regarding the construction expertise required to bring the product to scale. Kevin O'Leary dismissed SkyRide as a bad idea with limited commercial potential.

After failing to lure the sharks, Olson left the tank without a deal. However, he told the cameras that he did not need the sharks, implying that he was sure of his invention's success. Sure enough, his company continued to operate after his "Shark Tank" appearance. It gradually carved out a niche in the recreation and fitness industries. In 2013, SkyRide only had one or two operating systems in place. But by 2020, SkyRide debuted three installations on Carnival Cruise Line ships and even became the most popular attraction on board. SkyRide has since bagged the Best Feature recognition from Hive's Cruise Ship Awards for four years.

As of 2021, the company reported $900,000 in annual revenue and had multiple SkyRide systems operational, particularly in commercial and tourism environments. In March 2024, SkyRide took a major leap internationally by partnering with Adventure Inc., a leading adventure park company based in South Korea. Their alliance was officially launched at the Dubai Entertainment, Amusement, and Leisure (DEAL) Expo that same month. Now operating from its Minnesota-based headquarters known as "the Farm," SkyRide Technology (SRT) continues to develop human-powered transportation systems for a wide array of settings: from fitness clubs and retirement communities to mountain resorts and urban landscapes. Products like the Recumbent SkyBike, Upright SkyBike, SkyChaser, and SkyRower are customizable and simulate high-intensity gym workouts while offering the exhilaration of a ride in the sky.