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Coffee Joulies: Shark Tank Update

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Coffee Joulies is a small capsule which is made of small stainless steel having phase-changing ingredients inside them. Coffee Joulies is really a different product in the world of business. Coffee Joulies capsules are made to cool down the heat of hot coffee. Coffee Joulies, initially cool down the coffee and then slowly release the heat to serve warm coffee. It was manufactured to place inside the coffee, to enhance the taste along with extra fun.

These are the thermal absorbing and reflecting coffee beans. Coffee Joulies is produced in the USA at Sherrill Manufacturing, New York. Coffee Joulies claim that it can keep the heat up to 140 degrees for more than 5 hours.

Coffee Joulies at a glance:

BUSINESS IDEA Stainless-steel capsule which helps in maintaining coffee temperature
FOUNDERDave Jackson And Dave Pertrillo
ASKED FOR$150,000 For 5%
ACCEPTED OFFER$150,000 For $3 /unit Royalty Until $150,000 Is Repaid
SHARKKevin O’Leary, Lori Greiner, Daymond John, And Robert Herjavec
BUSINESS STATUSIn Business
WEBSITECoffee Joulies

Index:

Who is the founder of Coffee Joulies?

Coffee Joulies was founded by Dave Jackson and Dave Petrillo, both mechanical engineers from Pennington, New Jersey. 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.

They started their trial and error from their basement, buy 2011 they made their beans capsules and then started selling and manufacturing at Sherrill Manufacturing Company.

How was the Coffee Joulies Shark Tank pitch?

Dave Jackson and Dave Petrillo 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.

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. They did a phone call and then finally took the deal.

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. They did a phone call and then finally took the 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.

See also  Himalayan Dog Chew Shark Tank Update

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. After the shark tank show, As per contracts with Bed Bath & Beyond and OfficeMax, they expect sales to reach one million.
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 opened their LinkedIn profile. The Joulies cost $3.60 each to create, and a package of five costs $50.

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.

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. Later they accepted Kevin O’Leary, Lori Greiner, Daymond John, And Robert Herjavec’s offer of $150,000 debt equivalent which has to be paid back in the royalty of $3 per item sold.

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 out of business. Although both founders posted on LinkedIn that the company is operating, they are no longer available on Amazon and their websites.

Interesting Facts:

Few interesting facts about it

  1. It cools down the hot coffee very fast.
  2. After cooling, it changes the phase and slowly releases heat
  3. It can keep the coffee at 140 degrees for 5 hours.
  4. It is a small size capsule
  5. It melts into hot temperatures and turns solid in cold temperatures.

Coffee Joulies social links:

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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.

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