Kanga Coolers Update | Shark Tank Season 10

Logan Lamance, Austin Maxwell, and Teddy Giard kept showing up to games with warm beer because their coolers were too heavy to carry a long distance to the stadium. To fix that, they built Kanga, a lightweight sleeve that slides over a case of drinks and keeps them cold without using ice. Let’s see if these three entrepreneurs were able to secure a deal in our Kanga update and pitch recap.

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

Teddy, Logan, and Austin entered Shark Tank Season 10, seeking $100,000 for 10% equity in their beverage cooler company. Ultimately, they struck a deal with Mark Cuban for $100,000 for 20% equity.

In terms of a Kanga update, the company expanded its product line beyond the original Kase Mate and has grown to over $9 million in annual revenue.

Shark	Result
Mark Cuban	Accepted offer of $100,000 for 20% equity
Kevin O’Leary	No offer
Lori Greiner	No offer
Daymond John	No offer
Barbara Corcoran	No offer

Shark Tank Kanga Pitch

• Entrepreneurs: Teddy Giard, Logan Lamance, and Austin Maxwell
• Business: Lightweight drink coolers
• Ask: $100,000 for 10% equity
• Result: $100,000 for 20% equity
• Shark: Mark Cuban

Teddy, Logan, and Austin walked into Shark Tank to pitch Kanga Coolers, a lightweight drink cooler designed to keep 12-packs cold without ice.

They asked for an investment, giving their business a $1 million valuation.

They started the pitch by explaining the problem. Traditional coolers are bulky, and single-can insulators aren’t practical for keeping full packs cold.

Their product solves this by insulating the entire case. Additionally, to drive the point home, they handed each shark a custom cooler bag with a beer inside and asked them to take a sip.

Austin said they had made $103,000 in revenue in just six months.

Mark Cuban followed up, wanting to know where the sales came from. Austin explained that 30% came through their Kickstarter campaign.

The rest came from two key channels: direct online sales and business-to-business wholesale.

Kanga used its wholesale channel to create custom-branded coolers for companies that wanted their logos printed on the bags.

Barbara Corcoran asked how long the product kept drinks cold. Logan responded that the coolers could maintain a cold temperature for up to seven hours.

In terms of pricing, Logan explained that the 12-pack cooler sells for $29.95, and the 24- and 34-pack versions go for $34.95. Custom coolers cost around $20 per unit.

It costs $6.10 to manufacture a unit and another $3.50 to land it, making the total cost $9.60. Logan added that they had two patents pending.

Kevin O’Leary pushed them on partnerships. He wanted to know if they were working with beer companies.

Austin said they had secured a $16,000 test order from Anheuser-Busch. If successful, the brewery planned to order 10,000 more units.

Barbara then asked how much they had personally invested. Logan said each founder put in $833. None of them had prior business experience.

Meanwhile, Mark didn’t wait. He quickly offered $100,000 for 20% equity. He mentioned his history of backing beer-related products and didn’t want to miss out.

Teddy, Logan, and Austin accepted on the spot and secured the deal.

The other sharks didn’t get a chance to make an offer. The deal closed quickly, and Kanga walked away with a new partner.

Was this the right investment for the entrepreneurs at this time? Let’s find out in our Kanga update.

Shark Tank Kanga Update

Our Kanga update found that the company expanded its product line beyond the original Kase Mate.

New products include backpack coolers, the BrewBox, the Pouch, and the Beer Block. Kanga products are now sold online and in over 4,000 retail stores, including Ace Hardware.

In 2024, Kanga partnered with Mountain Dew and Walmart to release a limited-edition Baja Blast cooler bundle. This helped boost visibility and sales.

Additionally, Kanga has been featured in Forbes, Food Republic, and other outlets.

Our Kanga update found that the founders also made Forbes’ 30 Under 30 list in the retail and e-commerce category. The company stays active on social media and regularly promotes new products.

At the time of this writing, Kanga is making over $9 million in annual revenue and has more than 40 employees.

We’re calling this Kanga update a success.

You can find the other company updates from Season 10 Episode 18 here:

• Haven Lock Update
• Nuchas Update
• CertifiKid Update

Before you go, be sure to check out our list of all the Shark Tank Season 10 products.