The IceBeanie appeared on
Shark Tank IceBeanie Update
- Entrepreneur: Nic Lamb
- Business: A beanie with ice packs
- Ask: $50,000 for 20% equity
- Result: $50,000 for 25% equity
- Shark: Mark Cuban
Pitched by professional surfer Nic Lamb on Shark Tank Season 12 Episode 13, IceBeanie is a head covering that offers natural migraine relief. Additionally, it can be used for post-workout cooldowns, chemotherapy, and more. Nic explained that he got the idea for the beanie after he got knocked off his surfboard while riding a huge wave and ended up with a concussion.
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Despite only being live for a few months, IceBeanie has already sold 2,500 units, which has resulted in $100,000 in sales. Additionally, Nic has used his leverage as a professional athlete to get some athletic influencers to help promote the product.
All of this was enough to interest Mark Cuban, who said if all else failed he could get them into the Dallas Mavericks locker room. Mark offered him $50,000 for 30% of the company and Nic negotiated the deal to $50,000 for 25% equity. However, after agreeing to the deal, Robert Herjavec and Daymond John both expressed interest in making an offer. Daymond even offered Nic $100,000 for 25% after the deal with Mark had been made.
However, Nic honored his deal with Mark and IceBeanie left the tank with a new partner.
In terms of an IceBeanie update after
As for an immediate IceBeanie update, it looks like Nic and Mark are doing quite well as the product is currently sold out on Amazon at the time of writing.
For updates on the other products featured on Season 12 Episode 13, be sure to check out the links below.
For more, be sure to check out our Shark Tank Season 12 Products page.