Shark Tank Coolbox Update 2026

Chris Stoikos and Jason Neubauer were always carrying too many things while working—chargers, lights, speakers, and a regular toolbox. It was a hassle and made their jobs harder. So they came up with Coolbox, a toolbox that combines everything into one—tools, power, light, and music—all in a single box to make work easier. What will the sharks think of this new and improved toolbox? Let’s find out in our Coolbox update and pitch recap.

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

Chris and Jason pitched their smart toolbox on Shark Tank Season 7, seeking $500,000 for 10% equity. After their pitch, they struck a deal with Lori Greiner for a $500,000 loan at 5% interest for 15% equity.

In terms of a Coolbox update, the company failed to close its deal with Lori and later struggled to secure a licensing agreement with a major manufacturer. Although the team introduced a smaller, more affordable version of the product, the company ultimately shut down in 2018.

Shark	Result
Lori Greiner	Accepted offer of a $500,000 loan at 5% interest for 15% equity
Daymond John	No offer
Kevin O’Leary	No offer
Robert Herjavec	No offer
Mark Cuban	No offer

Shark Tank Coolbox Pitch

Entrepreneurs: Chris Stoikos and Jason Neubauer
Business: Smart toolbox
Ask: $500,000 for 10% equity
Result: $500,000 loan at 5% interest for 15% equity
Shark: Lori Greiner

After achieving success on IndieGoGo, Chris and Jason entered Shark Tank Season 7 to pitch Coolbox, their redefined toolbox for the modern world.

They explained to the sharks that this was the first smart toolbox, designed for modern workers who use technology on the job.

The toolbox included built-in USB ports, Bluetooth speakers, a battery-powered cord, an iPad and iPhone stand, a magnetic lid, a dry-erase board, and even a bottle opener.

They explained that the toolbox cost $110 to make. It sold for $190 during pre-sale and would retail for $249. The duo had already generated $370,000 in pre-orders and planned to expand into retail.

They also mentioned a letter of intent from Lowe’s for 8,000 units, although no formal purchase order had been issued yet.

Daymond John asked if they had shipped any units. Jason said they hadn’t—they had just returned from China, where manufacturers were starting to gather materials.

Robert Herjavec raised concerns about their $5 million valuation. Chris responded that Lowe’s wanted a Q4 exclusive and that Stanley Black & Decker had also shown strong interest.

Chris and Jason said they had a provisional utility patent covering the combination of features.

Jason shared that they had $1 million in investor funding lined up and had personally invested $50,000.

Kevin O’Leary warned them about the risks of scaling in retail, especially with tight margins and high inventory costs. He eventually dropped out.

Daymond offered $500,000 for 25% equity under a licensing model. Chris and Jason hesitated, hoping to hear from the other sharks.

Robert went out, saying the pricing was too high for the average buyer.

Chris said Coolbox combined products that, bought individually, could cost $400 or more, including Bluetooth speakers and mobile device accessories.

Jason added that many tradespeople already brought these tools to the job site separately, so Coolbox simply rolled them into one.

Mark Cuban also declined, citing concerns over valuation and the integrity of the business model.

Lori Greiner stepped in with an offer of $500,000 for 30% equity, not tied to licensing but contingent on securing a purchase order from Lowe’s. Daymond withdrew his offer.

Jason countered with 20% equity. Lori came back with a final offer of $500,000 as a line of credit at 5% interest in exchange for 15% equity.

Chris and Jason accepted and left Shark Tank with a deal, but what happened after the episode aired? Keep reading our Coolbox update to find out more.

Shark Tank Coolbox Update

Research for our Coolbox update revealed that the deal with Lori never came to fruition.

Following the episode, the team launched a smaller, more affordable version of the product.

The founders also tried to license the Coolbox to a major manufacturer, but those efforts fell through.

As a result, our Coolbox update found that Chris and Jason shut down the company in 2018.

Unfortunately, this will be our final Coolbox update.

If you’d like to read more about the other products in Season 7 Episode 23, check out our other company updates in the links below.

Before you go, be sure to check out our list of all the Shark Tank Season 7 products.

Andrew Smith

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Andrew is a lifelong fan of Shark Tank and an entrepreneur at heart. He started Shark Tank Recap because he wanted a single place to track what happens to the companies, founders, and deals after they air on TV. With a sharp eye for business insights and a passion for all things Shark Tank, Andrew makes sure every recap is accurate, engaging, and fun.