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) |
| Investor | Kevin O’Leary |
| Founders | Zoni Honig and Isaac Deutsch |
WaiveCar Pitch on Shark Tank
| Company name | WaiveCar |
| Product | Free electric rental cars with paid advertisements on the car |
| Episode | Season 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 |
| Shark | Kevin O’Leary |
| Location | Pico 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:
| Year | Accomplishment |
| 2018 | The company partnered with Hyundai |
| 2017 | Appeared 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.