Most students find science and technology lessons uninteresting as well as challenging to understand. Almost every student remains unable to grasp the basic workings of the material during traditional class lectures. Jared Ebersole understood the educational gap after he provided his nephew with an electric skateboard during Christmas. Instead of using the electric skateboard, his nephew wanted to learn how it operationalized.
An idea struck Jared after this incident. An educational opportunity emerged that let him create educational activities that combined active play with learning.
Jared used his experience to establish Lectec which provides students with the chance to construct their own electric skateboard and practice codes alongside engineering and physical principles. Making STEM learning both exciting and engaging represents the main purpose of this educational approach.
The educational solution Lectec enables students to practice concepts including motors gears and batteries and coding in real-world experiments. The manual practice allows students to naturally acquire complicated scientific concepts.
At Shark Tank Season 16 Luke St. Amand and his business partner Jared entered to request an investment of $100,000 for 10% equity. The article traces the evolution of Lectec starting from its development through its Shark Tank appearance along with its present condition.
Lectec Net Worth Shark Tank Update 2025
Jared and Luke were looking for an investment of $100k in exchange for 10% equity in the company. At the time of the episode, they valued their company at $1 million. Jared and Luke successfully secured a deal with Robert for an investment of $100k for 15% equity in the company. The investment adjusted the company’s net worth to around $667k. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Lectec in 2025 is around $2.66 million.
1# $100,000 for 10% equity + a royalty of $10 per unit sold in perpetuity
2# $100,000 for 10% equity + a royalty of $10 per unit sold until $500k is paid
N/A
No
Barbara Corcoran
Out
N/A
N/A
Mark Cuban
Out
N/A
N/A
Luke St. Amand and Jared Ebersole Backstory + Their Initial Pitch
Jared Ebersole’s inspiration for Lectec came from a personal experience. One Christmas morning he gave his nephew an electric skateboard. Instead of riding it, his nephew wanted to know how it worked. Jared showed him the motors gears and batteries. This made Jared realize that schools don’t teach science in a hands-on way. Most lessons feel boring and hard to connect with.
Jared decided to create Lectec to make learning fun and engaging. Lectec is a hands-on kit where kids build and ride their own electric skateboards. The kit teaches engineering coding and physics in a practical way. By working directly with motors gears and batteries kids can grasp complex scientific principles naturally.
Jared and Luke presented their product and business model to the sharks. They explained that Lectec sells for $349 with a production cost of $149. In just 10 months they had made $146000 in revenue. They currently sell to schools after-school programs and summer camps. They have not yet entered the consumer market.
Queries + Shark’s Responses, and Final Deal
During their pitch, the sharks had several questions about Lectec. Kevin O’Leary asked about their target market. Jared explained that they currently sell only to schools after-school programs and summer camps. They have not yet entered the consumer market.
Robert Herjavec wanted to know about the price. Jared broke it down: the full kit sells for $349 with a production cost of $149.
Lori Greiner asked about total sales. Jared shared that in just 10 months they had made $146000 in revenue. Lori believed their product had strong potential in the consumer market as well. However, Jared clarified their decision to focus on education first.
Barbara Corcoran decided to step out. She respected their mission but didn’t personally connect with the product. Lori loved the concept but believed it should be split into two different business models—one focused on education and another on direct-to-consumer sales. Since she wasn’t confident in handling the tech side she also decided to pass.
Mark Cuban agreed that the mission was strong but saw scaling within the education sector as a major challenge. As a result, he also declined to invest.
Robert Herjavec saw potential and offered $100000 for 25% equity. Kevin O’Leary offered $100000 for 10% equity plus a $10 per unit royalty. He later modified his proposal to cap the royalty at $500,000.
Robert adjusted his offer to $100000 for 15% equity. Jared and Luke weighed their options and accepted Robert’s offer.
Product Availability
Lectec is available for purchase on the Lectec website. The product includes electric skateboard and scooter kits with step-by-step guides. The company also launched Lectec Academy, an online learning platform that provides educational materials for students from middle school to college.
What Happened To The Lectec After Shark Tank?
After appearing on Shark Tank Lectec expanded its product line to include electric skateboard and scooter kits. They also launched Lectec Academy, an online learning platform. As of 2024 Lectec is still in business and continues to grow. The partnership with Robert Herjavec has helped the company expand its market presence.
Lectec is an innovative solution for making STEM education fun and engaging. Created by Jared Ebersole it addresses the common problem of boring science lessons. The product allows kids to build and ride their own electric skateboards while learning about engineering coding and physics.
On Shark Tank Season 16 Jared and Luke sought $100000 for 10% equity. They secured a deal with Robert Herjavec for $100000 for 15% equity. Since appearing on the show Lectec has expanded its product line and launched an online learning platform. As of 2024, Lectec is still in business and thriving with the help of its Shark Tank partner.
Hey, I’m Amna Habib, an undergraduate student pursuing a Bachelor’s in Business Administration. Shark Tank has always been one of my favorite TV shows because it offers a unique glimpse into the world of entrepreneurship. The way entrepreneurs present innovative solutions to everyday problems aligns with my academic interests and fuels my curiosity about business strategies. Each pitch showcases creativity and strategic decision-making, which I find both insightful and inspiring. Watching the show has deepened my passion for business and motivated me to explore the world of entrepreneurship even further. Beyond business and writing, I love food, shopping, and spending time with my friends and family.
