Troppo Bicycle Was Supposed to Change Cycling Forever, but the $5M Idea 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.

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.