When Mearth E-Scooters rolled into the Shark Tank, they offered more than just a sleek ride, they promised a solution to urban congestion with eco-conscious innovation.
Created by a passionate entrepreneur aiming to disrupt traditional transport, Mearth stood out in Australia’s micro-mobility landscape. Their pitch was bold, a locally designed, high-performance electric scooter built for the commuter of the future.
But what started as a high-speed success story has taken a sharp turn. As of 2025, Mearth E-Scooters is no longer in operation under its original name.
Once a rising star with growing sales and attention from tech and commuter communities alike, the company’s net worth today is closely tied to its Shark Tank legacy, and the controversies that followed.
So what exactly happened after the pitch? Why did the company disappear from major retailers and lose traction online? In this article, we’ll explore Mearth E-Scooters’ journey, including the pitch, post-show performance, and whether the Sharks’ investment truly paid off.
Founder Profile: Who’s Behind Mearth E-Scooters?
The mind behind Mearth E-Scooters was Wilson Zhang, a Sydney-based entrepreneur with a background in engineering and business. He identified a gap in the Australian electric scooter market, most models were imported, expensive, and not tailored to the needs of local commuters.
Zhang aimed to change that by creating a locally designed scooter that prioritized battery life, durability, and user experience. “We wanted to create an e-scooter that could withstand Australian terrain and actually make commuting enjoyable,” he said in an early interview with Smart Company.
His entrepreneurial journey was rooted in a desire for freedom and sustainability. But even with a strong product and market vision, building a hardware startup proved tougher than anticipated.
The Shark Tank Pitch: High Stakes in the Tank
Wilson Zhang entered Shark Tank Australia with high hopes. He pitched Mearth as Australia’s first premium, locally designed e-scooter company.
The flagship product, the Mearth RS Series, offered long-range battery performance (up to 65 km per charge), puncture-proof tires, and a sleek frame built for city life.
Zhang asked for $300,000 in exchange for 10% equity, valuing the company at $3 million. The Sharks were intrigued, but concerns about manufacturing costs, supply chain reliability, and customer support surfaced quickly.
“I like the product, but hardware is hard,” said Steve Baxter. “Margins can vanish with just one faulty shipment.”
Despite the caution, Andrew Banks saw potential. After a tense round of negotiations, he offered $150,000 for 20% equity plus a $150,000 loan, a deal Zhang accepted.
“Andrew believed in the mission. He understood that urban mobility was shifting and Mearth had a chance to lead in Australia,” Zhang later shared.
The pitch received buzz post-episode, driving immediate traffic and pre-orders, but the real challenges came after the cameras stopped rolling.
Mearth E-Scooters Pitch on Shark Tank (Quick Info Card).
| Product | An electric scooter |
| Episode | Season 05 Episode 05 |
| Founder | Ming Ye |
| Asked for | $250,000 for 1.8% equity |
| Company name | Mearth E-Scooters |
| Final deal | No deal |
| Shark | No shark |
| Location | Sydney, New South Wales |
Did the Sharks’ Investment Pay Off? Inside Mearth E-Scooters’ Post-Tank Boom
After Shark Tank, Mearth experienced a short-term boost. The visibility led to spikes in online traffic and sales. In the 12 months post-appearance, the company reportedly crossed $1.2 million in revenue, largely driven by pre-orders of the Mearth RS Pro.
Retail partnerships with JB Hi-Fi and other outlets followed. However, customer satisfaction began to decline as shipping delays, product defects, and poor after-sales support flooded forums and review sites.
A quote from a Reddit thread summed it up, “Great specs on paper, but terrible experience. I waited weeks for support after my scooter broke down within a month.”
Zhang acknowledged the growing pains. “We scaled too fast without strengthening our logistics. That was our biggest mistake.”
By late 2023, complaints about Mearth flooded ProductReview.com.au, with the company holding a 1.8-star rating from over 120 reviews. Many cited battery malfunctions, refund delays, and poor warranty response.
What Happened After Shark Tank?
Despite the early post-show growth, by mid-2024, Mearth E-Scooters ceased operations under its original name. Industry sources suggest that production challenges, mounting customer complaints, and legal threats from unsatisfied buyers contributed to the brand’s downfall.
There is no evidence of an acquisition, and the company was not publicly sold. However, a related entity named “Mearth Technology Pty Ltd“ reportedly rebranded parts of the business into a new venture focused on battery solutions, not consumer scooters.
As one former team member shared anonymously, “The vision was solid, but execution fell apart. After the Shark Tank hype faded, the real cracks showed.”
Mearth E-Scooters Reviews: What Went Wrong?
Here’s a snapshot of recurring complaints from verified users on ProductReview.com.au:
- Battery issues: Many customers reported battery failures within 3–6 months.
- Customer support: Delayed responses, often taking weeks for repair or refund.
- Durability: The frame and tires, touted as robust, reportedly didn’t hold up under regular use.
- Refund disputes: Users mentioned poor warranty experiences and difficulty securing promised returns.
The core problem? Scaling before stabilizing operations.
One review read, “Loved the idea. Hated the service. Never buying again.”
Was This the Sharks’ Best Deal Yet? Breaking Down the Profits
For Andrew Banks, the Mearth deal initially showed promise, but it didn’t deliver the long-term returns seen in other investments like Red Balloon or The Swag.
Given the reported sales of $1.2 million post-Tank, and assuming his 20% equity, Banks’ share of potential profit before the company folded may have been between $50,000–$100,000, considering cost of goods and operational losses.
Comparatively, Shark deals like Sknlogic and Koala Safe have delivered far higher ROI, both in equity appreciation and brand longevity.
There’s no evidence Andrew Banks retained equity in the rebranded spin-off, making this a likely loss on investment for the veteran Shark.
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Final Thoughts: A High-Speed Ride That Burned Out
Mearth E-Scooters entered Shark Tank as a bold, locally-rooted alternative in the global e-scooter market. With strong engineering and a clear need in urban Australia, it had all the elements of a hit.
But as with many startups, success hinges on more than just a great product, it requires operational excellence, resilient systems, and customer trust.
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TL;DR
Mearth E-Scooters, once backed by Shark Andrew Banks, is now shut down with a 2025 net worth of $0 due to product issues and customer complaints. Despite early promise following Shark Tank, the business ultimately collapsed due to operational and support challenges.
