Whatever Happened To LINKA After Shark Tank?
An avid bike rider, Egyptian native Mohamed Mohamed developed his own innovative solution to bike theft with his smart bike lock, LINKA. The device locks around bike wheels and, through the LINKA app, users can find out when their device needs to be charged or if the bike itself has been taken. Additionally, it lets out an alarm if your bike is taken away, as Robert Herjavec showcased during Mohamed's "Shark Tank" demonstration. It can even decipher the bike theft history in your area and recommend safer places to lock your bike if needed. A Kickstarter campaign was launched for the product, bringing in over $244,000 on a $10,000 goal.
The entrepreneur made an appearance on Season 7 of "Shark Tank." Mohamed sought a $250,000 investment for a 10% stake in the company, placing it at a $2.5 million valuation. The sharks expressed concern about the lack of chain on the device, even after they learned of the product's alarm feature. Following the Kickstarter campaign earlier that year, the business brought in $40,000. Mohamed also informed the sharks that he has several meetings lined up with investors and distributors in Amsterdam, a hot spot for bikers.
Ultimately, the sharks didn't feel that the product is enough of a deterrent without a chain and thought the market was too competitive. Mohamed's attempt at getting one of the show's wealthy panelists on board wasn't for naught though, as the creator took the sharks' advice and made notable changes to his product line that led to future success.
The shark's recommendations made a difference for LINKA
Mohamed Mohamed left "Shark Tank" without a deal for his smart bike lock product, LINKA. However, that did little to stop the entrepreneur from taking his own ride to victory.
Mohamed addressed the sharks' concerns about the absence of a chain with the creation of the TetherSense plug-in system. TetherSense loops around any fixed object and attaches to the lock instantly. It comes in standard and heavy-duty varieties for different scenarios. The lock itself also got some updates. While the original product only connected to the accompanying app, the new and improved LEO 2 pro offers an advanced option. Along with tripling the LINKA's battery life, LEO 2 has a GPS functioning feature, allowing users to find the location of their stolen bike within a three-mile radius.
Additionally, they introduced other notable accessories such as a specialized motion key that provides encrypted access to the lock and a stylish saddle bag. The team also expanded, with around 20 global employees serving 68 countries from around the world by 2021. As of 2022, the product has an estimated annual revenue of $4 million and an estimated net worth of $4 million.
LINKA remains active on Facebook, Instagram, and YouTube. While no major updates are on the horizon, Mohamed aims to expand LINKA's reach throughout the field, saying in a 2021 update, "We'll continue making our imprint in the micromobility market with the intention of seeing as many bikes as possible integrated with LINKA's devices that serve the user's needs."