Phunkee Duck: Heir to the Segway, remedy for the subway?

'Phunkee' new movement
'Phunkee' new movement   

Whether your problem is the subway being too dirty, the Uber driver getting lost or just being plain sick of walking everywhere, two entrepreneurs may have an answer for urban transportation woes.

It's called Phunkee Duck, a product that recalls memories of the Segway, the contraption unveiled over a decade ago, but never quite revolutionized commuting the way some had expected.

Phunkee Duck boasts a design that's more sleek and stylish than the Segway, and it's already becoming extremely popular among celebrities. Athletes like J.R. Smith and Adrian Peterson count themselves among the device's fans.

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Yet despite its hefty price tag—a standard model retails for $1,499—Phunkee Duck doesn't want it to be just for A-listers. The company's founders, Matt Waxman and Maxx Yellin, said in an interview with CNBC's "Closing Bell" that they are trying to change the way we all travel.

"The problem with the Segway was it was so bulky and so expensive. That's not really something you can ride on the sidewalks and indoors," Waxman said.

"This is something that's extremely agile; you can weave in and out of people easily. You can control it on a dime," he added.

PhunkeeDuck
PhunkeeDuck

Phunkee Duck began selling about two months ago, and according to Waxman and Yellin, sales are already growing rapidly.

"Our first month, we sold hundreds of units. Our second month, we've increased by over 400 percent," said Waxman.

For those daunted by the Phunkee Duck's price, fear not—the company has plans to make a cheaper, more affordable version. It hopes that may drive the general public to jump on board too.