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Icybreeze Shark Tank Update

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IcyBreeze is an interesting product because it is a combination of two items- a water cooler as well as an air conditioner. IcyBreeze helps in keeping the drinks cold whenever a person is traveling and can also be used as an air conditioner in hot weather. There is a fan in the lid of the cooler that operates on batteries and a cooling duct that can be detached easily.

Whenever someone needs to cool the atmosphere around them, they have to add some water to the ice in the cooler and the fan starts cooling the air. IcyBreeze can be used during camping, traveling out in the open, and in a car. Some of the IcyBreeze models come with a battery pack and charging cord. The product price ranges from $275 to $425 and is available on Amazon.

Icybreeze at a Glance:-

IdeaPortable air conditioner
FoundersJason Shakleford, Dave Yonce, and Andrew Jenkins
Asked For$50,000 for 5% equity
Accepted DealNo deal
SharksNo sharks
Business statusIn Business, but acquired
Episode No.Season 7, Episode 15
WebsiteIcybreeze
Buy on AmazonBuy Now!

Index:

Who are the founders of Icybreeze?

Jason Shackleford, Dave Yonce, and Andrew Jenkins are the founders of IcyBreeze. The idea for IcyBreeze came to Dave and he then proceeded to invent it and patent it. He was camping with his children in the woods under 100 + degree heat. He thought of a solution to fight the heat and enjoy himself without the fear of having a heat stroke.

That idea gave birth to IcyBreeze. They got the product at Sam’s Clubs and Walmart for test runs in 2015 and it proved to be a big hit among the campers. They want help from the sharks to lower their production cost and distribution.

Did Icybreeze get a deal on Shark Tank?

Andrew, Jason, and Dave, founders of Icybreeze, came to the shark tank looking for an investment of $50,000 for an exchange of 5% equity in the business. They started their pitch by saying that being hot is no fun, so they invented Icybreeze. After demonstration and sharing of the pros of Icybreeze. Sharks about the retail price to which, Andrew shared that they sell it in the market for $395. All the sharks were stunned and were looking as if they were charging so high.

Kevin says that he can’t get a regular cooler for 30 to 50 bucks. Jason said the nickel battery costs $191 in production, which automatically affects the price. Before coming to the show, they sold 1700 units, at a profit margin of $125,000. They have invested $5.5 million in the business which was written off when they sold their Solar winds software and then invented Icybreeze. The trio shared that they are not on the show for money, but they are searching for good partnerships and expertise. Mark Cuban said there are no shortcuts and went out.

See also  Hug Sleep: What Exactly Happened After Shark Tank?

Daymond John agreed to their words that they didn’t need any sharks and, Daymond had no time for them, so he went out. Kevin O’Leary said people are smarter than businessmen and they’ll never buy a cooler for $400 and he’s out. Robert Herjavec agreed on the top point and went out. Lori Greiner said there is no impressive history of sales and that’s so, she is out too. No sharks were ready to invest. Hence, no deal was made on the show.

What happened to Icybreeze after the Shark Tank Show?

On the show, Icybreeze was not able to get any deal but they yet received great suggestions from the experts. The biggest reason for the failure of Icybreeze was its selling price. After the show, Founder took that advice into action and launched a new battery at a low price. The cost reduction increased the profit margin for Icybreeze.

During the show, Icybreeze came up with a valuation of $1,000,000 and went out with no valuation offer. After the show, the revenue model of Icybreeze changed, and so, did the valuation. After putting so much work, planning, and strategy into action, Icybreeze changed its way of covering the journey towards success.

The social platforms of Icybreeze are very active and have a rating of 4.4 on Facebook. Despite the high price, consumers seemed to be enjoying its results. Icybreeze earns revenue through its website and Amazon mode. During the show, they were not accepted by the sharks and maybe they would feel regret it. After the show, the trio of Icybreeze enjoyed being cool.  Icybreeze used to cost $349 before the show, and after that, they reduced the cost to $249.

Unfortunately, the trio had to sell Icybreeze to an undisclosed firm for an undisclosed amount. After the show, Icybreeze is still operating but has acquired a different identity.

Competitors of Icybreeze are:-

  • Spot Coolers
  • OceanAire Inc.
  • Portatemp
  • Mobile Air Inc.
  • Powell Heating and Air Conditioners
  • Florida Air Coolers Inc.
  • Airstar Inc.

What is the net worth of Icybreeze?

The estimated net worth of Icybreeze is $3.6 million. The valuation of Icybreeze was $1,000,000, which was not accepted during the show.

Is Icybreeze still in business?

Icybreeze is still in business but the founders are no longer part of it. Icybreeze was sold to an enterprise for an undisclosed amount. Icybreeze also reduced its costs to $249.

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FAQs:

What is Icybreeze?

IcyBreeze is an interesting product because it is a combination of two items- a water cooler as well as an air conditioner. IcyBreeze helps in keeping the drinks cold whenever a person is traveling and can also be used as an air conditioner in hot weather.

Who founded Icybreeze?

Jason Shackleford, Dave Yonce and Andrew Jenkins are the founders of IcyBreeze. The idea for IcyBreeze came to Dave and he then proceeded to invent it and patent it. He was camping with his children in the woods under 100 + degree heat.

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