WaiveCar, created by Zoli Honig and Isaac Deutsch in 2015, offered free electric car rentals powered by ad space displayed on the vehicles.

In 2017, they pitched on Shark Tank and secured a $500,000 loan from Kevin O’Leary in exchange for 2% equity and discounted advertising space, valuing the company at $25 million. Despite early success, including partnerships with Hyundai and operations in Los Angeles, WaiveCar shut down in 2020 due to insurance issues and the pandemic.

In 2021, REEF acquired WaiveCar, and its website now redirects to REEF Drive, reflecting a new direction for the business.

WaiveCar Net Worth

Net worth$6.7 Million (2025)
InvestorKevin O’Leary
FoundersZoni Honig and Isaac Deutsch

WaiveCar Pitch on Shark Tank

Company nameWaiveCar
ProductFree electric rental cars with paid advertisements on the car
EpisodeSeason 09 Episode 07
Founders Zoni Honig and Isaac Deutsch
Asked for$500,000 for 2% equity
Final deal$500,000 as a loan for 12% interest with 2% equity and 80% off of any unused advertising space
SharkKevin O’Leary
LocationPico Boulevard, Santa Monica, United States

WaiveCar Founders

WaiveCar was founded by Zoni Honig and Isaac Deutsch in 2015, Isaac Deutsch has a background in the investment banking industry.

Zoni Honig has an advantage because he has worked as a software engineer at companies such as IBM and Microsoft. WaiveCar’s founders, Zoni Honig and Isaac Deutsch, have a net worth of USD 6.7 Million as of 2025.

Key accomplishments:

YearAccomplishment
2018The company partnered with Hyundai
2017Appeared on Shark Tank

Conclusion:

Some companies that appear on the show have not achieved great success, and the WaiveCar is one of them. Sometimes businesses don’t succeed for many reasons.

Sometimes, the deal falls through after the founders say yes on camera. Or, as you’ll see, sometimes things happen to the founders themselves, and they choose to abandon the business. Anything is possible.

However,  WaiveCar went out of business in 2021. And the product is no longer available in the market.

ABOUT KESARA BANDARAGODA
Kesara Bandaragoda is a Sri Lankan-born media entrepreneur currently based in Dubai, with a lifelong passion for storytelling, innovation, and all things screen-worthy. Whether it's a mind-bending sci-fi epic or the latest startup pitch on Shark Tank, Kesara is all in. In fact, he was one of the earliest content creators to cover Shark Tank Australia online and has been tracking its businesses, products, and founders since 2019 — long before it was cool.

Kesara is the visionary CEO behind BrandFactory, a digital media company powering multiple content platforms that reach millions. When he’s not leading a team of creatives, he’s often geeking out over Marvel and DC universes, decoding Spielberg's directorial magic, or revisiting classics like The Shawshank Redemption, Interstellar, and Pirates of the Caribbean (yes, he's a Johnny Depp loyalist).

INDUSTRY FOCUS
Kesara’s writing and content leadership often focus on the intersection of entrepreneurship, entertainment, and emerging digital cultures. He’s particularly passionate about telling stories that celebrate founders, dissect business blueprints from media narratives, and spark curiosity in audiences across the globe.

FAVORITE MEDIA
A sci-fi enthusiast with a taste for high-stakes storytelling, Kesara’s favorite titles range from cerebral time-space odysseys to charismatic pirate adventures. He thrives in content that mixes real-world business insight with the spectacle of entertainment — think Shark Tank meets Black Mirror, with a touch of Marvel heroics.

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