Whatever Happened To Coolpeds Briefcase After Shark Tank?

Tony Chan rode away from "Shark Tank" without anyone investing in his electric scooter business CoolPeds. As has been seen in the past, however, plenty of rejected "Shark Tank" businesses have not only managed to map out success on their own but have even gotten the sharks to regret their decisions. So was Chan able to drive the sharks crazy with jealousy by striking it on his own? 

It seems that Chan's priority has moved on from electric scooters as of late. The scooters were once available on Amazon but received abysmal reviews from consumers, who primarily complained about the ineffective packaging and subpar quality of the product itself. Currently, the only place to find the scooters for sale is the company's website. Here, Chan sells lightweight, moped, and briefcase-specific scooters. While his electric vehicle, the Ampere Electric Roadster, can only be placed on reservation for $399 on the same website, more detailed information about the car is available on an entirely separate site with no option to purchase. 

Many customers aren't convinced that Chan's business ventures are the most sound. His Indiegogo campaign, which managed to raise over $43,000, seems to have failed to fulfill customers' expectations. Chan has not updated the page since 2018 and hundreds of customers have demanded refunds. Given this, alongside the lack of social media updates and the inconsistent website presentation, it seems that CoolPeds has yet to make its mark. But things seemed like they were moving in the right direction when Chan was featured on "Shark Tank." 

Since a young age, Tony Chan has been in love with cars. Much of the Los Angeles resident's life experience has coincided with automobiles, from waxing vehicles at age 7 for pocket money to fixing and selling classic cars to help pay for his college tuition. With the rise of electric vehicles in the market, Chan chose to hop in with his own line of electric scooters and cars. The CoolPed scooters are not only fun to ride, but serve the additional function of carrying luggage and backpacks. Between 2015 and 2017, he ran several successful Indiegogo campaigns for his scooters, each one managing to succeed in their initial goal. 

The budding entrepreneur enters "Shark Tank" Season 9 seeking an investment of $250,000 for 5% of the business. The sharks are all impressed by the scooters and Kevin O'Leary even takes it for a ride around the space. Chan then reveals an Ampere Roadster prototype from under a gray sheet that car aficionado Robert Herjavec gleefully hops into. Chan shares with the sharks that the scooters have brought in $500,000 within the last 18 months all from online, although his margins don't allow him to expand into distribution. 

The sharks share their concerns. Mark Cuban and O'Leary have marketing concerns, while Lori Greiner, Barabra Corcoran, and even the enthusiastic Robert Herjavec are confused about what Chan is trying to sell. All go out, leaving Chan without a deal.