Ginelle Mills created a multi-purpose cover, that belongs in every diaper bag! It can be used to protect babies from hot swings, dirty shopping carts and high chairs, and even works as a changing pad! Will she walk away with a cool deal on
Shark Tank Cool Wazoo Update
- Entrepreneur: Ginelle Mills
- Business: Multi-purpose surface cover for babies
- Ask: $65,000 for 25% equity
- Result: $65,000 for 25% equity
- Shark: Lori Greiner
Ginelle shared with the sharks how a trip to the playground on a hot day, left her baby burned from the hot swing seat. That’s when she got creative and invented her Cool Wazoo, a 5-in-1, multi-purpose surface cover!
She shared that the product had been featured on The Today Show, which resulted in $14,000 in sales. Unfortunately she was unable to fulfill the orders, because her production facility gave her product that was 85% defective. She was then featured on The Doctors a short time later, which showcased her product by offering 250 units to each audience member for free. Ginelle made no money on this offer, and the sharks were flabbergasted.
Things took another turn for the worse when Ginelle revealed that her domestic cost was $30 per unit, with an MSRP of $64.95, and a wholesale price of $32.50. Mark accurately pointed out that she was making only $2.50 per unit sold. While the margins were not great, she said that taking production overseas would solve the problem by bringing her cost down to $11.36 per unit.
Robert was the first shark to go out, sharing that he didn’t want to go down the long road ahead for Ginelle. Kevin went out next, for the same reason. Daymond John was next to leave, with the company not being investable for him. Lori Greiner left next, using her usual “heroes and zeroes” lingo.
Mark was the last remaining shark, and Ginelle pleaded with him to invest, but he wasn’t interested. With all of the sharks out, that was Ginelle’s cue to leave, but she didn’t go. As the tears came, she told them that she had been working very hard for 4 years on this product that she believed in.
Lori, moved by the passionate display, decided to come back in. She offered the original ask of $65,000 in exchange for 25% equity. Although the other sharks critiqued her, claiming she only caved because of the tears, Lori and Ginelle made a deal. Did the Cool Wazoo become Ginelle’s hero product after all? Keep reading our Cool Wazoo update to find out!
We have good news to share in our Cool Wazoo update! While the deal with Lori never closed, Ginelle was able to land a licensing deal with Kids 2, Inc., and the product was sold at Babies R’ Us. Ginelle would go on to create additional products like the Blew Bubble and Ginovate. Then in 2020, she created a virtual baby shower service called Box Parties. You can get your own Cool Wazoo on the company website!
Would you like to learn about the other companies featured on Season 4 Episode 8? Follow the links below!
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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!