Freaker USA Drink Koozie Update | Season 4
Zach Cain came to
Shark Tank Freaker USA Update
- Entrepreneur: Zach Cain
- Business: Knit koozies with a universal fit
- Ask: $200,000 for 10% equity
- Result: No deal
- Shark: None
Zach made quite an entrance during
Freakers keep your drinks cold, and your hands dry, and they'll fit anything you want to drink out of. Simply put, they're a hot and cold Insulator that stops unseemly bottle sweat and subsequent moist handshakes.
Throughout the pitch, Zach made a number of iconic sound effects, including a fair share of “whoop” and “beep-beep” noises that had the sharks laughing, albeit uncomfortably.
Kevin O’Leary would be the first to question the $2 million valuation, to which Zach divulged that the product was in 200 stores and had grossed $320,000 over the past 13 months.
Zach went on to share that the “Freaker,” as he called them, cost slightly under $1, was wholesaled at $4, and retailed for between $8 and $10.
With this in mind, Kevin extrapolated that the business was truly worth considerably less, and so he offered Zach $200,000 for 50% of the company. When Zach declined this offer, Kevin went out.
Barbara Corcoran would speak next, calling the valuation “nutsy” before also going out, and Robert Herjavec followed.
Daymond John spoke next, sharing that he liked to be passionate about products that he chooses to invest in.
Unfortunately, he was not passionate about the Freaker or Freaker USA, and so Daymond was out.
With four sharks out, all eyes turned to Mark Cuban, who said that he liked the margins and the branding. In many ways, he felt that Freaker USA was impressive. However, he didn’t quite get Zach’s personality, so he was also out.
Sadly, Zach left
We have great news to share in our Freaker USA update! After seeing the
While Tim and Zach parted ways in 2014, Zach expanded his product line in 2015. You can check out Zach’s many different products on Amazon and Freaker USA site.
Years later, Freaker USA is estimated to be worth about $6 million and is continuing to grow every year.
It’s great to report a positive Freaker USA update despite not landing a deal on
Would you like to learn about the other companies featured on Season 4 Episode 6? Follow the links below!
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!