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

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'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.