Troppo Bicycle Was Supposed to Change Cycling Forever, but the $5M Idea Vanished Without a Trace
Troppo Bicycle once made headlines on Shark Tank Australia with a bold $5 million pitch—but just a year later, the company vanished without a trace.
In 2016, an Australian inventor rolled a strange-looking bicycle into the Shark Tank, claiming it could change the world of cycling. He asked for $5 million and called the idea a potential “$5 billion opportunity.” A year later, the business had vanished completely.
So, what really happened to the Troppo Bicycle? Here’s the full story, from its Shark Tank debut to what we know today.
What Happened to Troppo Bicycle After Shark Tank?
After the show, things didn’t improve for Troppo. Despite the TV exposure, the company didn’t grow. The business, registered as Troppo Bicycles (ABN 73 474 118 678), was active from September 2014 to February 2017. By 2017, it was deregistered, and by 2019, the ABN was cancelled.
While 20 bicycles had been sold, the company made no profit. Richard admitted that the cost of making each unit was the same as the selling price, leaving zero room for growth or sustainability.
There is no sign of the product on the market today. No working website, no social media updates, and no customer reviews can be found. It’s as if the business disappeared overnight.
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What Was the Troppo Bicycle?
The Troppo Bicycle was the brainchild of Richard Ploszaj, a mechanical engineer from Queensland. It wasn’t your typical bike. This model used a pump-pedal system, which aimed to deliver faster speeds, better exercise, and more comfort compared to traditional bicycles.
The name “Troppo” came from Aussie slang, meaning “crazy” or “heat-affected.” It reflected the unconventional nature of the design. And unlike many wild ideas pitched on television, this product actually existed. Richard said he had already sold 20 units, each priced at $2,600.
The Shark Tank Pitch: High Hopes, No Deal
Richard pitched the Troppo Bicycle on Season 2, Episode 3 of Shark Tank Australia, which aired on May 22, 2016. He asked for $5 million in exchange for 49% of the company, valuing the business at a staggering $10.2 million.
The Sharks were stunned by the high valuation. Despite the confidence in his pitch, Richard couldn’t convince them. Some of their responses included:
- Steve Baxter called the ask “fundamentally ridiculous.”
- Naomi Simson questioned Richard’s claim that the business could grow into a $5 billion company.
- Glen Richards noted the business still had a long way to go.
In the end, none of the Sharks invested. The deal fell flat.
quick update about Troppo Bicycle shark tank pitch
Detail | Info |
---|---|
Show Appearance | Shark Tank Australia, Season 2, Episode 3 |
Air Date | May 22, 2016 |
Founder | Richard Ploszaj |
Investment Sought | $5 million for 49% equity |
Valuation | $10.2 million post-money |
Outcome | No deal |
Units Sold | 20 (claimed) at $2,600 each |
Business Status | Inactive since 2017 |
Was the Troppo Bicycle a Real Product?
Yes, it was. Troppo wasn’t just an idea on paper — it existed. Richard claimed to have sold 20 fully built bicycles. The design used a pump-style pedaling system, which he said provided more speed and a better workout.
But while the product was functional, the business had one major flaw: the cost to manufacture each bike was about the same as the selling price. There was no profit.
Why Did Troppo Bicycle Fail?
Troppo Bicycle failed because it combined a high-stakes pitch with a weak business foundation. The valuation was far too ambitious for a company that had only $52,000 in total sales. More importantly, there was no margin to sustain growth. Without an investor and without profits, the company couldn’t survive.
The lack of demand after national exposure also raised questions. Despite the attention from Shark Tank, no further traction or customer engagement followed.
Who Was the Founder – And Where Is He Now?
Richard Ploszaj is a mechanical engineer from Queensland, Australia. Before Troppo, he also invented a self-cleaning toothbrush. His background showed creativity and technical skill, but his business plan fell short.
Since 2016, there have been no public updates about his work. His LinkedIn profile hasn’t been updated, and no new ventures have been reported. It appears he stepped away from the spotlight after Troppo folded.
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What Can We Learn from This?
Troppo Bicycle offers some hard but valuable lessons for anyone launching a startup:
- Avoid unrealistic valuations. Investors want to see proof, not just passion.
- Don’t sell at cost. Without profit margin, there’s no room to grow.
- Product alone isn’t enough. Market fit, business structure, and customer validation are just as important.
- Even national TV exposure can’t save a broken model. Shark Tank gets you attention, but not a free pass.
A Big Idea That Couldn’t Keep Rolling
Troppo Bicycle was real, bold, and different. But it’s also a clear case of how difficult it is to turn invention into a business. In the end, the bike didn’t fail because it was crazy — it failed because it didn’t make money. And that’s something no investor can ride past.
🔹 TL;DR (Too Long; Didn’t Read)
The Troppo Bicycle was a real product pitched on Shark Tank Australia with a $5M ask, but it failed due to no profits, poor valuation, and vanished by 2017.
FAQs
What was the Troppo Bicycle?
The Troppo Bicycle was an innovative pump-pedal bicycle invented by Richard Ploszaj, aiming to offer faster speeds, better exercise, and enhanced comfort compared to traditional bikes.
Did Troppo Bicycle secure a deal on Shark Tank Australia?
No, during its appearance on Season 2, Episode 3 of Shark Tank Australia in 2016, Troppo Bicycle did not secure an investment from any of the Sharks.
Why did the Sharks decline to invest in Troppo Bicycle?
The Sharks were skeptical due to the high valuation of $10.2 million, lack of proven profitability, and concerns over the product’s scalability and market demand.
Is Troppo Bicycle still in business?
No, Troppo Bicycle ceased operations in 2017, and the business was officially deregistered in 2019. There is no active website or social media presence.
Who is Richard Ploszaj, and what is he doing now?
Richard Ploszaj is a mechanical engineer from Queensland, Australia, and the inventor of the Troppo Bicycle. As of now, there is limited public information about his current endeavors.