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Chill Systems Shark Tank Update

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Are you tired of carrying the same old, traditional, and bulky cooler to your picnics and hikes?

Do you feel that carrying the cooler on your vacations is so cumbersome that you would rather have warm drinks?

If yes, then Chill Systems is here to your rescue. The startup aims at providing portable and lightweight “Ice-less” coolers that keep your drinks cool without hurting your shoulders !!

Chill Systems at a Glance:-

IdeaEco-friendly and portable beverage chiller
FoundersChase Mitchell and Brian Bloch
Asked For$150,000 for 15%
Accepted DealNone
SharksNone
Business statusOut of Business
Episode No.Season 12, Episode 17
Buy on AmazonBuy Now!

Index:

What is Chill Systems?

Chill Systems, a company owned by Brian and Chase is a cooler manufacturing startup that uses specialized techniques to keep the products inside the cooler, lower than the environment temperature. The coolers function on a no-ice technology.

The iceless coolers are lightweight and easy to carry as compared to the bulky traditional coolers.

They also eliminate the need to carry packets of ice to keep your beverages cool. It can accommodate 3 bottles at a time when pre-cooled for 24 hours.

Founder Story:

Chase, the CEO of Chill Systems worked as a sales associate at Google, and Brian, the CFO, worked in various finance positions, including his work at Apple Finance.

Brian also owned and established Elbay Endeavous, a consulting firm, whose experience helped him build Chill Systems from scratch.

Both friends left their well-paying and permanent jobs to build Chill Systems because they wanted to pursue their dream of owning a company and being the “Masters of their own minds”.

They got this idea when they saw people carrying heavy coolers through the muck during the downpours in San Francisco. The scene struck them like lightning and they invented Chill Systems.

Did Chill Systems get a deal on Shark Tank?

Chase and Brian entered the Tank with an ask of $150,000 in exchange for an equity of 15%. The duo started their pitch by establishing a comparison between traditional ice coolers and Chill System’s Ice-less coolers.

He explained how it is difficult to carry and maintain traditional coolers, while theirs is a lot less hassle.

See also  Sweep Easy: What Happened After Shark Tank?

The duo explains how they spend a whopping $18 to manufacture each cooler, which becomes the start of the downfall of the company’s pitch.

The Sharks thereafter, point out various flaws in the product. Sharks point out how there are various other coolers in the market that are cheaper and have more capacity than their product. Due to the lapse of credibility in the product, the duo failed to crack any deal on the show.

What happened to Chill Systems after Shark Tank?

As of 2021, the company was still in business and was doing decent in terms of revenue. They were also very active on Social Media handles, both on their personal and the company’s handles.

During this time Brian and Chase donated about 3% of their profits to Water.org, an NGO that aims at the elimination of the global water crisis.

It seems that the sharks’ guess about the future of Chill Systems was pretty accurate because it is reported that as of 2023, the company is no more in business and the founders have moved on to their next ventures.

Brian’s official Social Media handles also indicate the same.

Product Details:

  • The cooler works on a no-ice technology to keep the products cool.
  • The cooler is portable and comes with a carrying strap in a variety of colors.
  • The company also manufactures insulated cooler bags that work on the same no-ice technology.
  • Chill Systems also provides a bag in which the cooler can be carried.
  • The cost of their standard chiller is $49.99 -$59.99 and it costs $69.99 with the bag.

What’s the net worth of Chill Systems?

The company entered with an ask of $150,000 for 15% equity, valuating the company to $1 million. The company could not grab any deal on Shark Tank and had to return empty-handed.

Chill Systems has stopped functioning as of 2023, and hence its Net Worth cannot be estimated.

Who are the competitors of Chill Systems?

  • Ice
  • Rareform LLC
  • Sanders and Johnson Inc
  • Enviro Chill Ltd.

Is Chill Systems still in business?

No, Chill Systems is currently out of business as indicated by its “dead” social media handles and the news of its founders moving over to next ventures.

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FAQs:

What is Chill Systems?

Chill Systems is an eco-friendly and portable beverage chiller.

What's the net worth of Chill Systems?

Chill Systems entered with an ask of $150,000 for 15% equity, valuating the company to $1 million. The company could not grab any deal on Shark Tank and had to return empty-handed.

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