FOAM Coolers Update | Shark Tank Season 16
Traditional coolers are often heavy and expensive, designed for extreme scenarios like bear-proofing or holding ice for 10 days. These features are unnecessary for the needs of everyday users. This led Chad Lee and David Kittle to create FOAM Coolers, the world’s first lightweight, durable cooler made from EVA foam. It offers an affordable and practical solution for casual outings like beach trips and pool days. Will this idea make waves with the sharks, or will they leave empty-handed? Let’s dive into our FOAM Coolers update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to FOAM Coolers after
Chad and David entered
In terms of a FOAM Coolers update, the company has partnered with Koozie Group to enhance its retail presence. Furthermore, they introduced the Gen 2 coolers in November 2024, offering new features, colors, and improved pricing to attract more customers.
| Shark | Result |
| Daymond John | Accepted offer of $150,000 for 30% equity |
| Kevin O’Leary | $150,000 for 33.33% equity |
| Mark Cuban | No offer |
| Robert Herjavec | No offer |
| Todd Graves | No offer |
Shark Tank FOAM Coolers Pitch
- Entrepreneurs: Chad Lee and David Kittle
- Business: Lightweight foam cooler
- Ask: $150,000 for 10% equity
- Result: $150,000 for 30% equity
- Shark: Daymond John
Chad and David stepped into
They sought an investment to scale production and support their upcoming launch in Target stores.
Their goal was to ensure FOAM Coolers could establish a strong presence in a competitive market.
FOAM Coolers is made entirely of 100% EVA foam and stands out for being lightweight and durable.
It is also easy to clean, as there are no nooks or crannies to trap dirt.
Unlike other coolers designed for extreme outdoor use, such as those that are bear-proof or keep ice frozen for 10 days, this brand focuses on everyday needs.
Although primarily focused on direct-to-consumer sales, they managed to secure a launch in 97 Target stores through cold calling.
Impressively, Target placed the order without even requesting a sample.
The founders collectively invested $150,000 of their own funds.
David shares there are plans to expand into other retailers like REI and explore licensing opportunities.
Each unit costs $25 to manufacture, wholesales for around $50 depending on the channel, and retails for $99.
So far, the company has generated $114,000 in sales in 2024, with an additional $137,000 committed, bringing total year-to-date revenue to $251,000.
Lori Greiner says she will be a customer, but she feels this isn’t the right investment for her. She’s out.
Mark Cuban says he really likes the product but doesn’t see the risk-to-reward ratio working in his favor. For those reasons, he declines to invest.
Guest shark Todd Graves says he believes other sharks are better suited for this opportunity, and at this time, it isn’t the right investment for him. He’s out.
Kevin O’Leary says he’s willing to take the risk, so he offers $150,000 for 33.3% equity.
Daymond John joins the negotiation with a competing offer of $150,000 for 30% equity.
After a brief discussion, Chad and David counter both offers with $150,000 for 17% equity.
However, Kevin and Daymond stand firm on their original terms.
The entrepreneurs counter again, this time offering Daymond 25% equity, leaving Kevin out of the negotiation.
Despite the counteroffer, Daymond maintains his stance at 30% equity.
After considering their options, Chad and David decide to accept Daymond’s deal for $150,000 in exchange for 30% equity.
Let’s get a FOAM Coolers update about what happened after
Shark Tank FOAM Coolers Update
Our FOAM Coolers update found that shortly after the episode aired, the company partnered with Koozie Group to improve its retail presence.
Moreover, they now offer a range of hybrid soft-hard-sided coolers made entirely from the same material used in CROCS shoes.
Furthermore, FOAM Coolers has expanded its product line to include models like the Arctic White – Gen2, Cyan Blue – Gen2, and Cherry Red – Gen2.
Their products are now available in select Target stores across Florida, Arizona, and California and are primarily sold through their e-commerce platform.
Our Foam Coolers update found that they released Gen 2 coolers in November 2024. These come in seven colors, including the new cherry red, and are priced at $125.
At the time of writing, customers can enjoy a 10% discount on their first purchase by subscribing to the newsletter.
Accessories like shoulder straps, sticker packs, caps, and t-shirts are also available.
We will be back with another FOAM Coolers update as soon as we hear anything new.
For more updates from
Before you go, be sure to check out our list of all the Shark Tank Season 16 products.
Marvin Uzor
Marvin Uzor is a content contributor for Shark Tank Recap. He specializes in crafting engaging, well-researched content that delve into the latest Shark Tank stories, keeping readers hooked. He has a soft spot for his favorite Shark Tank companies, Bombas and Doorbot, known for their innovation and impact.