Bottlekeeper Drink Cooler Update | Shark Tank Season 10

Cousins Adam Callinan and Matt Campbell, pitched their beer bottle accessory, during Shark Tank Season 10. BottleKeeper is their product, that is basically an insulated bottle, in which you place your beer bottle inside. This keeps the drink ice cold, for longer periods of time. Will they get to celebrate at the end of their pitch? Find out in our BottleKeeper update!

If you’re short on time, here’s a quick overview of what happened to BottleKeeper after Shark Tank!

Adam Callinan and Matt Campbell, appeared on Shark Tank Season 10, and made a deal with Mark Cuban and Lori Greiner. The sharks gave ultimately gave them a deal of $1,000,000 for 5% equity + $1.50 royalty. In terms of a BottleKeeper update, the company is still in business. Although, the deal with Mark and Lori was never finalized.

Shark: Result:
Lori Greiner & Mark Cuban $1,000,000 for 5% equity, plus a $1.50 royalty until double their investment is recouped
Kevin O’Leary & Alex Rodriquez $500,000 for 20% equity, plus a $500,000 line of credit
Barbara Corcoran  No offer

Shark Tank BottleKeeper Update

BottleKeeper update

  • Entrepreneurs: Adam Callinan and Matt Campbell
  • Business: Beer bottle cooler
  • Ask: $1,000,000 for 5% equity
  • Result: $1,000,000 for 5% equity + $1.50 royalty
  • Sharks: Mark Cuban and Lori Greiner

Founders of BottleKeeper, Adam Callinan and Matt Campbell, brought their innovative beer bottle insulator to the tank. They’ve basically set out to solve the problem that they call a global epidemic; ‘warm beer’.

BottleKeeper - The Standard 2.0 - The Original Stainless Steel Bottle Holder and Insulator to Keep Your Beer Colder (Blue)

Keeps your beer cold with insulation while protecting from breakage. Fits standard shaped 12oz beer bottles such as Bud Light, Corona, Coors and many more.

We earn a commission if you make a purchase, at no additional cost to you.

The BottleKeeper is a stainless steel insulator, which helps keep drinks cold for longer. The bottle is essentially inserted from the bottom, and the base is then screwed into place.

Additionally, the lid has a handy bottle opener, so you can easily crack open your cold one.

After hearing what Adam and Matt had to say during their pitch, Kevin O’Leary couldn’t wait to hear about their company’s sales after hearing about their $20 million valuation. Adam and Matt quickly answered and responded with some shocking numbers.

In the last ten days before coming onto Shark Tank, they did over $1 million in sales. They also did more than $20 million over the last three years, which is undoubtedly a remarkable number.

Things seemed to get better when they told the sharks that their gross margin was over 90%, while their net income is only around 10%. The product retails at $34.99 and only costs $3.50 to make it.

Scaling was one of their primary problems, and the ability to roll out the units to retail stores quicker would be a primary objective. They’re also running into issues with advertising costs, especially since they spent $3 million last year on Facebook ads alone.

The good news is, after discussing the financial numbers relating to their company, some of the sharks seemed interested in making an offer.

Although, before any of them could make an offer, Barbara Corcoran decided to drop out. Evidently, she didn’t like the marketing costs or the potential legal fees.

Unfortunately, Mark Cuban dropped out for similar reasons, mostly because he doesn’t think he’d get his investment back.

Thankfully, Kevin decided to make an offer of $250,000 for 10% equity and $750,000 as a line of credit. Guest shark Alex Rodriguez decided to jump in with Kevin’s offer and partner with him, effectively making the offer $500,000 for 20% equity, plus a $500,000 line of credit.

Lori Greiner offers $1 million for 3% equity, plus $3/unit royalty, until $2 million is made back. After some intense negotiations back and forth, Matt and Adam ask Lori and Mark if they’d come in together.

The sharks agree and they eventually settle on $1 million for 5% equity, plus $1.50 royalty, until $2 million is made back.

Adam and Matt quickly accept the offer, but did things work out following Shark Tank? Keep reading our BottleKeeper update to find out!

Overall, we have great news to share in our BottleKeeper update. While the deal never closed, the cousins have still found success.

Since the show, they’ve also expanded their product line to include a CanKeeper, PintKeeper, a cooler called the ChillKeeper, and more!

In addition to the BottleKeeper website, products are available on Amazon, and at Ace Hardware, Sur La Table, and other retailers around the country. Further, the company is doing more than $10 million in annual revenue.

If we learn anything new about this company, we will certainly let you know. In the meantime, you can check out our other company updates from Season 10 Episode 6, by following the links below!

For even more on companies and products, be sure to stop by our Season 10 products page!

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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!