Looking for a way to keep your coffee hot without diluting the flavor? Meet Coffee Joulies, the product that went viral after appearing on Shark Tank.
These stainless steel beans use a phase change material to absorb heat and then release it back into your coffee to keep it at the perfect temperature. Say goodbye to burnt tongues and cold coffee – and hello to the perfect cup of joe with Coffee Joulies.
Coffee Joulies is a small-size, stainless-steel capsules. This capsule is made to place in a cup of coffee, as it is a phase-changing capsule. If the coffee is too much hot, it makes it cool like cold coffee and then slowly releases heat to keep it warm while having it.
So, it keeps the perfect drinking temperature of coffee for a longer period of time. These are the thermal absorbing and reflecting coffee beans. Coffee Joulies production is done in the USA at Sherrill Manufacturing, New York.
Coffee Joulies at a glance:
| BUSINESS IDEA | Stainless-steel capsule which helps in maintaining coffee temperature |
| FOUNDER | Dave Jackson And Dave Pertrillo |
| ASKED FOR | $150,000 For 5% |
| ACCEPTED OFFER | $150,000 For $3 /unit Royalty Until $150,000 Is Repaid |
| SHARK | Kevin O’Leary, Lori Greiner, Daymond John, And Robert Herjavec |
| BUSINESS STATUS | In Business |
| WEBSITE | Coffee Joulies |
Index:
Who is the founder of Coffee Joulies?
Coffee Joulies was founded by Dave Jackson and Dave Petrillo, both of them are mechanical engineers from Pennington, New Jersey.
They made the first model of coffee Joulies in their basement in 2011 and then started selling and manufacturing at Sherrill Manufacturing Company, which hosts new start-up firms. They both were neighbors and were motivated by an experiment that they have done previously, which works somewhat similarly and they made a prototype of Coffee Joulies.
How was the Coffee Joulies Shark Tank pitch?
Both the Daves came on the Shark Tank platform in search of investors to expand their unique style of phase-changing products. They came with a pitch of $150,000 for a 5% share. They also demonstrated their product in front of the Sharks. They claimed that it can keep the coffee at 140 degrees for 5 hours.
Daymond John was not much interested, so he turned himself out. Kevin O’Leary offered $150,000 for 6% until he recovered his investment and $1 per sale perpetuity.
Lori Greiner offered to join the deal, and Robert also took his step into the deal to which Daymond showed his interest and asked Kevin to take him in the deal and Kevin involved him. Mark Cuban offered a separate deal of $250,000 for 12% of the company. Both Daves phoned a friend and then finally took a four-shark deal.
What happened to Coffee Joulies after Shark Tank?
After Shark Tank’s new inventions, the deal never closed. Its uniqueness attracts customers to the product as the capsule gives coolness to a range of hot temperatures so that your tongue will never burn and after that, it slowly releases heat to a range that warms your cup of coffee or tea.
This, in turn, provides revenue for the company as people love to try something new. They were also available on Amazon which helps them to gain a customer from other nations also. The Joulies cost $3.60 each to create, and a package of five costs $50. The company has a strong cash flow, having cleared $575,000 in the initial year with a $50,000 profit. As per contracts with Bed Bath & Beyond and OfficeMax, they expect sales to reach one million.
While Bed Bath and Beyond were offered knock-off products but Coffee Joulies’ founder never closed the website. They are still available on Amazon. As per the current update in 2021, they still haven’t updated their website from 2017 and they are also currently out of stock on Amazon, even though they haven’t made their LinkedIn profile open.
They also tried selling other accessories like Double-Wall Glass Mug and Silicone lids for hot beverages. Dave Petrillo has been working on other project but whether the business is still in the market or not is not sure and we will update it soon.
Since then, the company has expanded its product line to include different sizes and materials for Joulies, as well as coffee cups and other accessories. They have also partnered with various retailers and coffee shops to sell their products, and have gained a loyal following among coffee lovers. As of 2021, Coffee Joulies is still in business and continues to sell its products online and in select retail stores.
How much is Coffee Joulies worth?
At the time of the shark tank appearance, Coffee Joulies was valued at around $3 million as per the founder.
Competitors of Coffee Joulies:
Coffee Joulies is completely a new concept that attracts its customers but holding up to them depends on its competitiveness in the market.
A few competitors of it are:
- Class yak
- Alpha industries
- Schott NYC
- Snap- N- wear
Currently not much is known about the company, whether it is still in the market or not as of 2021.
Is Coffee Joulies out of business?
Dave Pertrillo is currently working as a product designer at Paleton since 2019, so it seems that the company is on verge of going out of business. Although both founders posted on LinkedIn that the company is operating, the product is unavailable on Amazon and other websites.
Interesting Facts:
Few interesting facts about it
- It cools down the hot coffee very fast.
- After cooling, it changes the phase and slowly releases heat
- It can keep the coffee at 140 degrees for 5 hours.
- It is a small size capsule
- It melts into hot temperatures and turns solid in cold temperatures.
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What is Coffee Joulies?
Coffee Joulies capsule is made to place in a cup of coffee, as it is a phase-changing capsule. If the coffee is too much hot, it makes it cool like cold coffee and then slowly releases heat to keep it warm while having it.
Who founded Coffee Joulies?
Coffee Joulies was founded by Dave Jackson and Dave Petrillo, both of them are mechanical engineers from Pennington, New Jersey.