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What Happend to Freaker USA After Shark Tank?

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The term Freaker USA refers to a unique and eccentric beverage insulator designed to accommodate various drink containers while also adding a touch of fun and individuality to the drinking experience.

Inventor Zach Crain, hailing from Wilmington, North Carolina, learned the art of creating these knit beverage coverings in a knitting class. With his creative vision and entrepreneurial spirit, Zach pitched his well-funded Kickstarter project to the Sharks in Season 4 Episode 6 of Shark Tank.

Freaker USA gained significant traction on Kickstarter, being selected as one of the top 12 projects and successfully raising over $60,000 in funding in 2011. The product itself, much like a knit fabric koozie, acts as a sweater for drink containers, providing insulation to keep beverages cold and hands dry.

Zach’s enthusiastic and quirky persona adds to the appeal of Freaker USA, and the company’s headquarters in Troy, North Carolina, is dubbed the birthplace of “freaks,” embracing a culture of uniqueness and individuality.

With their motto “Freak the World,” Zach and his team are committed to spreading joy and creativity through their innovative beverage insulators, catering to a wide range of drink container sizes and types while injecting a dose of fun into everyday life.

Freaker USA at a Glance:-

IdeaKnit koozies that fit everyone.
FoundersZach Cain
Asked For$200,000 for 10% equity
Accepted DealNo deal
SharksNo Shark
Business statusIn Business
Episode No.Season 4, Episode 6
Buy on AmazonBuy Now!

Index:

Founder Story:

Zach Crain, the CEO of Freaker USA, embarked on a mission to tackle bottle sweat, inspired by a memorable encounter with a person drenched from holding a cold drink. His entrepreneurial journey began in 2011 with a Kickstarter project that raised an impressive $62,770 from 2,416 backers.

With this funding, Zach and his team set out to revolutionize beverage insulation, producing a range of Freaker styles in their home state of North Carolina. Additionally, they transformed a box truck into a mobile neon-party house, complete with a deck-stage and a promise of guaranteed grins.

Instead of traditional marketing methods, Zach and his co-founders embarked on a four-month journey across the nation, hosting free grilled cheese parties in every state and showering attendees with Freakers. This unconventional approach not only spread brand awareness but also grew the Freaker Family with each stop.

The box truck continued to travel across the country in subsequent summertime trips, captivating and entertaining people wherever it went.

In 2015, Freaker USA made a triumphant return to Kickstarter with a vibrant line of socks, all proudly made in the United States. The campaign garnered support from 4,948 backers who contributed an impressive $255,264 to Freaker Feet.

Additionally, the Freaker team was featured in the acclaimed documentary “Capital C!” which explored the crowdfunding revolution, highlighting the innovative approaches taken by entrepreneurs like Zach and his team.

Through creativity, passion, and a commitment to fun, Zach Crain and Freaker USA have carved out a unique niche in the beverage insulation market, delighting customers and spreading joy one Freaker at a time.

Did Freaker USA get a deal on Shark Tank?

Zach Crain certainly made a memorable entrance on Shark Tank Season 4, sporting his signature short shorts, jaunty top hat, and partially unbuttoned shirt. His lively personality and unconventional style set the stage for the introduction of his product and business, Freaker USA.

During his pitch, Zach’s use of sound effects added a playful touch to the presentation, although it may have left the sharks feeling slightly uncomfortable. Despite the entertainment factor, the sharks wasted no time in challenging the lofty $2 million valuation Zach placed on his company.

Kevin O’Leary was the first to question the valuation, prompting Zach to defend Freaker USA’s performance by highlighting its presence in 200 stores and $320,000 in revenue over the preceding 13 months. However, Kevin remained unconvinced and made a significantly lower offer of $200,000 for 50% of the business, which Zach promptly declined.

Subsequent sharks, including Robert Herjavec and Barbara Corcoran, expressed skepticism about the valuation before ultimately bowing out of the negotiation. Daymond John, known for his keen eye for investment opportunities, expressed a lack of passion for the product, leading him to also pass on the opportunity.

With four sharks out of the running, all eyes turned to Mark Cuban, who admired Freaker USA’s branding and margins but ultimately felt that Zach’s personality didn’t align with his own. Unfortunately, this sentiment led to Mark’s decision to also pass on the deal.

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In the end, despite Zach’s memorable pitch and the appeal of Freaker USA’s product, he left Shark Tank Season 4 without securing a deal. However, his appearance on the show undoubtedly brought attention to his business and showcased his unique entrepreneurial spirit to a wide audience.

What happened to Freaker USA after Shark Tank?

Zach Crain’s unwavering belief in his business, Freaker USA, proved to be well-founded as the company continued to thrive despite the initial setback on Shark Tank. With confidence and determination, Zach expanded the reach of Freaker USA products, making them widely available in unique style boutiques and souvenir shops across the nation.

Following his appearance on Shark Tank, Zach was contacted by the owner of Liberty Bottleworks, whose bottles were featured in Zach’s pitch. This led to a partnership where all Liberty Bottleworks bottles would be covered by Freaker USA. However, this agreement was short-lived, as it was terminated due to allegations that Liberty Bottleworks was attempting to market counterfeit Freaker USA bottle covers. Forced to protect his brand’s integrity, Zach had no choice but to terminate the agreement.

Undeterred by the challenges, Freaker USA continued to innovate and diversify its product offerings. In 2015, the company returned to Kickstarter and successfully raised over $250,000 to produce a line of vibrant knit socks, all proudly made in the United States.

In addition to socks, Freaker USA expanded its product line to include Slippys, miniature replicas of Freakers made from recycled beach plastic. These Slippys are designed to fit mugs and cups, offering a sustainable and stylish solution for keeping beverages insulated.

Through resilience, innovation, and a commitment to quality, Freaker USA has established itself as a leader in the beverage insulation market and a pioneer in sustainable fashion. With a diverse range of products and a loyal customer base, the company continues to grow and make its mark on the industry.

What’s the net worth of Freaker USA?

It’s clear that Freaker USA’s success is not only attributed to its founders’ estimation of their net worth but also to their deep understanding of their speciality and their unwavering commitment to their unique and whimsical approach. The company’s expanding product line, which includes not only Freakers but also knit socks and Slippys made from recycled beach plastic, is a testament to their dedication to innovation and creativity.

With a net worth estimated at $2,000,000 by the founders and a growing presence in both online and brick-and-mortar stores, there’s no doubt that Freaker USA is thriving in its niche. Their ability to resonate with customers who appreciate their quirky and fun products has been key to their success, and there’s no sign of imminent closure for the company.

As Freaker USA continues to innovate and expand its offerings, it’s poised to remain a beloved brand among its devoted following of customers. With their commitment to quality, creativity, and customer satisfaction, Freaker USA is well-positioned for continued success in the future.

Is Freaker USA still in business?

Indeed, Freaker USA has proven to be a highly successful company, with a strong presence both online and in brick-and-mortar stores nationwide. Their products are not only available for purchase directly through their website and Amazon store but also in over 200 boutique-style establishments across the United States.

This widespread availability speaks to the popularity and appeal of Freaker USA’s unique and innovative beverage insulation products. With a devoted following of customers who appreciate the quality, functionality, and style of their offerings, Freaker USA has cemented its position as a leader in the industry.

By leveraging various sales channels and cultivating partnerships with boutique retailers, Freaker USA has effectively expanded its reach and made its products accessible to a diverse range of consumers. This widespread availability, coupled with their loyal customer base, serves as a testament to the company’s success and ongoing growth in the market.

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FAQs:

What is Freaker USA?

The term Freaker USA refers to a unique and eccentric beverage insulator designed to accommodate various drink containers while also adding a touch of fun and individuality to the drinking experience.

What's the net worth of Freaker USA?

With a net worth estimated at $2,000,000 by the founders and a growing presence in both online and brick-and-mortar stores, there’s no doubt that Freaker USA is thriving in its niche. Their ability to resonate with customers who appreciate their quirky and fun products has been key to their success, and there’s no sign of imminent closure for the company.

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