Entrepreneurs David Stark and Joe Wayne pitched their drinkware brand, Coldest, on Shark Tank Season 15. Coldest offers line of cooling products designed to keep beverages at the perfect temperature.
Will their pitch convince the sharks to strike a deal? or, What happened to the Coldest after Shark Tank?
Find out the details in our thorough analysis on Coldest Shark Tank update and pitch recap…
If you’re short on time, here’s a quick overview of What happened to Coldest on Shark Tank:
Quick Summary
David Stark and Joe Wayne pitched their business on Shark Tank Season 15 but walked away without securing a deal.
For the Coldest Shark Tank update, the company remains active and continues generating millions in revenue. Many of their products are available on Amazon, where they have garnered thousands of positive reviews.
Table of Contents
Coldest On Shark Tank
| Shark | Result |
| Kevin O’Leary | Offered $600,000 for 5% equity, plus $2.25 per unit royalty, until $3 million earned (Not Accepted) |
| Lori Greiner | No Offer |
| Daymond John | No Offer |
| Mark Cuban | No Offer |
| Robert Herjavec | No Offer |
Shark Tank Coldest Deal
- Business: A line of Cooling Products
- Entrepreneurs: David Stark and Joe Wayne
- Asked For: $600,000 for 2% equity
- Shark Tank Deal: No Deal
- Shark: None
Coldest Company Info
| Brand Name | Coldest |
| Official Website | coldest.com |
| @thecoldestwater | |
| @ShopColdest | |
| TikTok | @thecoldestwater |
| Where To Buy Coldest Products | Check Price On Amazon |
Overview of Coldest
Founded by David Stark and Joe Wayne, Coldest focuses on keeping things cool. Their flagship products include cold water bottles and other innovative cooling items like the Coldest pillow, Coldest dog bed, and Coldest dog bowl.
Designed to withstand the hottest days in Florida, Coldest products are rigorously tested and proven to keep drinks cold for up to 36 hours longer than similar products.
The Coldest water bottles come with features that truly set them apart: they’re completely leakproof, have non-slip rubber bottoms, and undergo competitive testing against more than 50 top hydration brands.
The company’s slogan, “Coldest,” embodies their commitment to creating products that maintain coolness even in scorching temperatures.
Coldest Water Bottle Shark Tank Pitch
Twin brothers David Stark and Joe Wayne entered the Shark Tank with high hopes and a compelling vision. They presented their brand, Coldest, which is a line of high-performance drinkware products designed to keep beverages colder for longer than typical water bottles on the market.
Being based in Naples, FL, they understand the value of keeping drinks cold. The warm climate inspired them to develop a superior line of travel cups that surpassed anything else available on the market.
Their cups are entirely leakproof and have been tested against more than 50 of the leading hydration brands. Coldest cups kept drinks cold for up to 36 hours longer than other products available.
Their products are designed with a rubber base to prevent slipping. Alongside the water bottles, Coldest has diversified into other innovative “cold” products, such as the Coldest pillow, Coldest dog bed, and Coldest dog bowl.
Personal Journey of David Stark and Joe Wayne
The pitch also highlighted the brothers’ personal journey and the background that fueled their entrepreneurial spirit. Growing up as children of immigrant engineers from Jordan and the Philippines, they initially thought they would follow in their parents’ footsteps as engineers.
Financial Performance of Coldest
Their true passion for entrepreneurship led them to invest $14,000 into Coldest, which steadily grew into a profitable venture. Their sales growth is impressive: $5.9 million in 2019, $9.3 million in 2020, $12.4 million in 2021, and $15.1 million in 2022.
However, despite generating $15.1 million in revenue, the company faced a $400,000 loss that year. Looking to improve profitability, the duo projected finishing 2023 with a revenue target of $22 million.
As the brothers revealed these numbers, they also opened up about the rising costs associated with maintaining such high growth. They shared that their best-selling product, the Coldest Limitless Series Cup, retails at $55.99 and has a production cost of $10-$12.
Even with impressive sales, their high advertising spend—more than $3 million last year alone—drew questions from the Sharks.
Sharks’ Reactions On Shark Tank Coldest Pitch
Each Shark reacted to Coldest’s pitch, and the company’s financial background raised mixed responses:
- Lori Greiner liked the initial concept behind Coldest but felt the company’s vast range of SKUs and inventory costs created too much operational complexity. Given these concerns, she decided not to make an offer and went out early.
- Mark Cuban admired the brand’s strong marketing strategy, but he lost interest after learning about their substantial advertising expenditure. Spending over $3 million on ads highlighted what he viewed as an excessive marketing reliance for profitability. Ultimately, this led Mark to bow out.
- Robert Herjavec questioned why Coldest wasn’t turning a profit despite their impressive sales figures. The fact that they were still incurring losses, even with $15.1 million in revenue, was a red flag for Robert, prompting him to decline an investment.
- Daymond John expressed concern about Coldest’s ability to keep up with its growing inventory needs, especially given the brand’s continuous scaling in product lines and the costs required to maintain it. He felt that these factors would lead to more significant financial strain, and he opted out as well.
Sharks’ Offers For Coldest On Shark Tank
With four Sharks out, Kevin O’Leary (Mr. Wonderful) was the last remaining investor and saw potential in Coldest despite its challenges.
He offered $600,000 in exchange for 7% equity in Coldest, but he attached a royalty of $2.25 per unit until he earned back $3 million. The brothers countered this offer with a $600,000 loan and a 3-5 year repayment plan totaling $900,000.
However, Kevin wasn’t interested in a loan arrangement and instead revised his offer: he would give $600,000 for 5% equity, with the same $2.25 royalty per unit until he recouped $3 million.
The negotiations continued as David and Joe countered with a bold offer of $1.5 million for 5% equity, adding a stipulation that Kevin could return his equity in three years, with a 1.5X buyout on his initial investment.
However, Mr. Wonderful stood firm on his original terms, refusing to increase his investment or alter his exit options. After considering their options, David and Joe decided not to accept Kevin’s offer, ultimately walking away without a deal.
So, what happened to Coldest after Shark Tank? Keep reading our detailed analysis on Coldest Shark Tank Update to find out!
Coldest Shark Tank Update
According to our thorough analysis on Coldest Shark Tank Update, we would like to state that although Coldest left Shark Tank without a deal, their journey didn’t end there. Despite the rejection, Coldest continued to grow and expand, thanks to the brand’s strong reputation and massive following on social media.
Today, Coldest remains popular among consumers, with high ratings and thousands of positive reviews on platforms like Amazon. With the exposure gained from Shark Tank, Coldest has seen a boost in visibility, potentially helping to reduce marketing costs and increase profitability over time.
The brand’s product line is available on their website, where they continue to sell their flagship items alongside other popular cooling products. Coldest’s online presence and growing customer base suggest a bright future despite not securing a deal with a Shark.
Coldest Shark Tank Net Worth
As of now, Coldest has achieved significant success since its appearance on Shark Tank, with a net worth estimated at around $20 million. This valuation reflects the brand’s rapid growth and popularity in the drinkware market, driven by its innovative designs and effective marketing strategies. The company’s commitment to quality and performance has resonated with consumers, allowing it to capture a substantial share of the industry.
The founders have effectively leveraged their Shark Tank exposure to boost sales and expand their product line. With a focus on creating functional and stylish cold products, Coldest has positioned itself as a leader in the drinkware category, attracting a loyal customer base and partnerships that further enhance its market presence. This combination of strategic growth and strong brand recognition continues to elevate Coldest’s net worth in a competitive landscape.
Did Coldest Get A Deal On Shark Tank?
During their appearance on Shark Tank, Coldest faced tough negotiations, ultimately leaving without a deal.
After four Sharks opted out, Kevin O’Leary, known as Mr. Wonderful, remained interested in the product despite its challenges. He proposed an offer of $600,000 for 7% equity plus a $2.25 royalty per unit until he recouped $3 million.
However, the founders, David and Joe, countered with a loan arrangement, which Kevin declined.
The negotiations intensified when David and Joe made a bold counteroffer of $1.5 million for 5% equity, suggesting that Kevin could exit his investment after three years with a 1.5X buyout.
Despite their efforts, Kevin stood firm on his initial proposal, refusing to adjust his terms. Ultimately, the brothers chose not to accept his offer and walked away without securing a deal.
Coldest Business Strategy And Success Factors
The success of Coldest can be attributed to a few key factors: a robust e-commerce strategy, standout product features, and an unwavering focus on quality. The company has invested significantly in advertising to fuel growth, spending over $3 million last year alone to drive customer acquisition. Though this level of spending initially raised concerns among the Sharks, it has helped Coldest build a loyal customer base.
Coldest’s growth trajectory, however, wasn’t without challenges. Lori Greiner voiced concerns over the brand’s extensive SKU lineup, suggesting a more streamlined approach could benefit the company.
Mark Cuban, on the other hand, noted that while the marketing strategy was effective, the substantial advertising spend made him question Coldest’s profitability in the long run.
Coldest Water Bottle Reviews And Customer Reactions
The response from customers has been overwhelmingly positive. Coldest products enjoy a strong fanbase, particularly for their flagship water bottles that can keep beverages cold for up to 36 hours.
The brand has established a community of satisfied users who rave about the quality, durability, and functionality of Coldest products.
Amazon reviews and social media platforms are filled with glowing testimonials, with users praising the products’ leakproof design, long-lasting cold retention, and overall reliability. This customer satisfaction has played a pivotal role in establishing Coldest as a go-to brand for reliable cooling solutions.
Where To Buy Coldest Water Bottle?
You can purchase the Coldest Water Bottle directly from the official Coldest website, where they offer a variety of sizes and colors to suit your needs. The site often features exclusive discounts and promotions, making it an ideal place to find the latest models and limited-edition designs.
In addition to the official website, Coldest Water Bottles are also available at various retailers, both online and in-store. Popular platforms like Amazon and Walmart carry their products, providing convenient options for customers who prefer shopping through these channels. Whether you choose to buy directly or through a retailer, you’ll be able to enjoy the benefits of keeping your drinks cold for hours.
Coldest Future Plans and Innovations
While Coldest didn’t secure a deal with a Shark, the brand is positioned for continued growth. Plans for the future may include product line expansion, with additional innovations tailored to customer feedback and needs.
By capitalizing on the Shark Tank exposure and refining their business strategy, Coldest can focus on improving profitability and scaling their inventory to meet demand.
Looking ahead, Coldest may consider diversifying its advertising efforts to reduce costs and enhance overall profitability. The company could explore strategic partnerships or refine its SKU lineup to streamline operations, ultimately contributing to a stronger bottom line.
FAQs On Coldest Water Bottle Shark Tank Update
Who Is The Owner Of Coldest?
The owners of Coldest are brothers David and Joe D’Angelo. They founded the company with the aim of creating high-quality drinkware that keeps beverages cold for extended periods. Their innovative approach and commitment to quality have contributed to the brand’s success.
Did Coldest Get A Deal On Shark Tank?
No, Coldest did not secure a deal on Shark Tank. Despite negotiations with Kevin O’Leary, the founders ultimately decided not to accept his offer, walking away without an agreement. They countered with a loan arrangement that Kevin declined, leading to their departure from the show.
Is Coldest Still In Business?
Yes, Coldest is still in business and continues to thrive in the market. The company has expanded its product line and remains popular among consumers for its high-quality insulated drinkware and accessories. Their ongoing success is reflected in their strong online presence and customer demand.
What Happened To Coldest On Shark Tank?
On Shark Tank, Coldest engaged in tough negotiations but ultimately left without a deal. Kevin O’Leary showed interest and proposed a $600,000 investment for 5% equity with a $2.25 royalty per unit, but the founders declined his offer. After considering their options, they chose to walk away from the deal.
Is Coldest Better Than Stanley?
Whether Coldest is better than Stanley depends on individual preferences and needs. Coldest Water Bottles are known for their impressive insulation and lightweight design, making them ideal for on-the-go hydration.
In contrast, Stanley bottles are celebrated for their durability and ruggedness, catering to outdoor enthusiasts. Ultimately, the choice between the two brands comes down to personal usage and style preferences.
Is Coldest Better Than Yeti?
Whether Coldest is better than Yeti depends on individual preferences and needs. Coldest water bottles often feature a more affordable price point and a variety of sizes, while Yeti products are renowned for their durability and high-performance insulation.
Ultimately, the best choice comes down to personal priorities regarding price, design, and intended use.
What Is The Best Water Bottle To Keep Ice Cold?
The best water bottle to keep ice cold is typically a high-quality insulated stainless steel bottle, such as the Coldest Water Bottle. These bottles feature double-wall vacuum insulation that effectively retains cold temperatures for hours, ensuring your drinks stay refreshingly chilled throughout the day. Look for options with a wide mouth for easy filling and ice cube accommodation.
Conclusion: Coldest After Shark Tank
Based on our detailed analysis of Coldest Shark Tank Update, we want to say that Coldest’s Shark Tank appearance demonstrated the brand’s resilience and commitment to innovation, even though it didn’t result in a deal.
Their journey is a testament to the importance of quality, customer loyalty, and adaptability in a competitive market. By focusing on their strengths—product innovation, a loyal customer base, and a growing online presence—Coldest has set itself up for long-term success, even without a Shark’s investment.
Despite the challenges, Coldest’s story serves as inspiration to entrepreneurs everywhere.
Whether they are tackling a niche market or competing against major brands, businesses like Coldest remind us that dedication to quality and strategic planning are critical components of success.
Stay tuned for the latest updates on Coldest because we will try to come up with updated news on Coldest water bottle shark tank update as soon as we get a hint.
In the meantime, you can check out more Company Updates on Shark Tank Season 15 Episode 15 by clicking on the links below:
- Psyonic Update After Shark Tank
- Dogue Update After Shark Tank
- Cup-A-Bug Update After Shark Tank
Before you go, make sure to visit our Season 15 Company Updates Page, All Company Updates Page and Shark Tank All Products Page for more information on various companies and products featured in the Show.
At the same time, you can FOLLOW our blog to get the latest updates on businesses featured in Shark Tank Show. And, if you have any questions, you can send us message at your convenience.
Lastly, you can check out more Company Updates for the businesses featured in Shark Tank Season 14 by visiting our Season 14 Company Updates Page.
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