Troppo Bicycle’s net worth is not disclosed as of February 2024. The company’s net worth was $10.2 million at the time of their pitch in 2016, based on $5 million for 49% equity of the company. There is no information available regarding the sales of the company following their appearance on the show.
In May 2016, they appeared on Season 2 of Shark Tank Australia. Sharks were initially impressed with Troppo Bicycle. However, when they learned that business is still an idea, with no company or a proper marketing process, all the sharks stepped down, investing. The owner of the company had to leave Shark Tank without a deal. After the show, the company unfortunately did not have much success. According to available information, Troppo Bicycle went out of business in 2017. The product is no longer available in the market.
Read what happened to Troppo Bicycle worth and net worth update in brief here.
Troppo Bicycle Net Worth
| Net worth | $10.2 million (2016) |
| Annual Sales Revenue | Not disclosed |
| Profits | Not disclosed |
| Lifetime sales | Not disclosed |
| Investor | None |
| Founder | Richard Ploszaj |
| Employees | <2 |
The company’s net worth was $10.2 million in 2016, based on the valuation of the pitch. Currently the company is out of business.
Troppo Bicycle sales and revenue
Richard was very much ambitious about his innovation. He anticipated that the company would be worth $5 billion by 2020. However, Richard’s business plan could not achieve the expected numbers. Following the show, there is minimal information regarding the company’s status, and the product went out of the market in 2017. It appears to be that the company did not have a boost in sales or overall revenue growth after the show.
Net worth timeline
| Net Worth 2024 | Out of business |
| Net worth valuation in 2016 before appearing on Shark Tank | $10.2 million (Business valuation) |
Competitors of the Troppo Bicycle
Troppo Bicycle is a very unique bicycle model. By the time of their pitch in 2016, there weren’t products exactly similar to Troppo Bicycle. However, by that time, several bicycle companies in Australia, such as Apollo Bicycles, Bastion Cycles, Colony BMX, Healing Cycles, and Penny Farthing Bicycles,were developing new bicycle models. These companies still maintain quite a reputation in the market.
Don’t miss these product from Season 02
Troppo Bicycle Shark Tank Update
| Company name | Troppo Bicycle |
| Product | An innovative electric bicycle |
| Episode | Season 02 Episode 03 |
| Founder | Richard Ploszaj |
| Asked for | $5 million for 49% of equity |
| Final deal | No deal |
| Shark | No shark |
| Location | Brisbane, Australia |
After the pitch, the product was not available anywhere to purchase. The owner had plans in his business strategy to sell these bicycles to Tour de France. However, due to design concerns, the product wasn’t even eligible to participate in the competition. The company is now officially out of business. As of 20204, there is no information about it.
About Troppo Bicycle
Troppo Bicycle is an innovative bicycle created by an Australian mechanical engineer. Unlike conventional bicycles, this electric-operated bicycle comes with unique features. Given that the model of the typical structure of a bicycle has been the same for over 100 years, Richard wanted to think out of the box and create a new structure. Richard’s creation comes with a modern structure. It has pumping peddles, and as he explains, it is more energy-efficient and fast.
Troppo Bicycle Founder
Richard Ploszaj, the mastermind behind Troppo Bicycle, is a mechanical engineer by profession. He is a graduate of Warclow University of Science and Technology. Richard is a design enthusiast. According to his LinkedIn profile, he is also interested in 3D Modeling and drafting. His profile has not been updated anytime recently, so there is no available information on what he is currently doing.
FAQ
Based on the business valuation, the company’s net worth was $10.2 million in 2016.
There is no information regarding the annual revenue of the company after the show.
The company did not make any profit.
No, the company did not get a deal.
No, it is no longer in business.
