The billionaire businessman, of Shark Tank-fame, has had a toe in the hoverboard industry since 2015, although it’s been a bit of a rough haul so far for Cuban.
Back in August of 2015 – when hoverboards were huge and already becoming the hot gift of the holiday season (and nobody’s board had yet caught on fire!) – Cuban purchased the patent license for the hoverboards from Shane Chen, the inventor of Hovertrax Hoverboards.
Unfortunately, as Cuban soon found out, hoverboards were the Wild West. Nobody really gave a crap about so and so’s so-called “hoverboard patent.” When Cuban partnered up with Chen, Hovertrax was currently suing IO HAWK, a big-name high-price seller of hoverboards. Plus, to make things more complicated, Segway had a lawsuit against Hovertrax. It was a mess.
Given the circumstances, it’s no wonder that after 3 months of partnership with Hovertrax, Cuban left the deal, stating that he had plans to create and sell his own hoverboard.
“We will come out with our own board that we feel respects necessary IP and introduces our own,” Cuban told BuzzFeed in an email.
Mark Cuban’s New Hoverboard
Ever since Cuban first announced his break with Hovertrax and his plans to launch his own hoverboard, updates on progress have been few and far between.
But yesterday, Geek Wire wrote an editorial providing some information on Cuban’s new brand.
In the article, Geek Wire reports that Cuban sent The Verge an email containing a video of his product being used by an employee of Radical Transport – the company producing his new hoverboard.
According to Geek Wire, “[Cuban] declined to speak about the particulars of the company or the board, but the few details he gave pointed to the truth: Cuban still plans sell a hoverboard called the Moov, and it’s being made by a Dallas-based company called Radical Transport.”
The company will launch a crowdfunding campaign on Kickstarter in April. Cuban’s rationale for going the Kickstarter route in order to secure funding was a nondescript, “Why not?”
The design of the board itself is similar in aesthetics to what we’ve come to expect from hoverboards. It is a two-wheeled self-balanced scooter with LED lights. The shell appears to be made from a more solid material than plastic and features larger, flatter wheels than the typical hoverboard.
Geek Wire writes, “One key difference, though, is that the hoverboard doesn’t appear to split in the middle. Hoverboards usually force riders to tip and twist their feet along this split to move forward, backward, or turn. But it seems that the Moov board uses pressure sensors embedded into a more solid, unibody design.”
We’ll keep you updated on Cuban’s hoverboard venture as they receive funding and move towards market. It will be interesting to see what surprises Cuban has up his sleeve and what other features the hoverboard will possess to separate it from the competition.
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