Shark Tank Update
Shark Tank Pitch
Coolwraps Shark Tank Update
Published:
2m
Attleboro, MA
| Name | Coolwraps |
|---|---|
| Main Presenters | Jeffrey Miller |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 1/1/2015 |
| Main Location | Attleboro, MA Loading Map |
| Order Shown in Episode | 4 |
| Final Deal | Deal was made on the show with sharks Mark Cuban for $250k for 100% of company and a 3% royalty to Jeffrey. |
Coolwraps Shark Tank Pitch
Jeffrey Miller came up with a clever way to wrap gifts using a hair dryer to shrink a loose-fit wrapping paper to a gift called Coolwraps. Jeffery claims he has so much fun wrapping gifts and then repeats it again and again as he fails to find what else to say. The sharks identify that selling is not Jeffrey's strong suit.
Coolwraps was selling ten years ago and got on QVC twice. Jeffrey claimed the partners were unwilling to put their homes up as collateral to get a $300k loan from the bank and instead elected to throw in the towel on the idea. Jeff acquired the partners' other 80% of the business and today owns 100%. The company has sat on the shelf for the last ten years, and Jeffrey has failed to bring it to life, claiming he was waiting for the right partners.
Jeffrey has a utility patent for this failed idea. Shockingly Lori offers to buy the company off of Jeffrey (Jackpot!). Then Mark steps in and offers a significantly better deal than Lori's (Double Jackpot?). Jeffrey obviously takes that deal, and I'm left wondering if Jeffrey is secretly the greatest salesman with sorcery beyond what the naked eye sees.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $100k for 40% of company | |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Offered | Lori Greiner | $150k for 100% of company |
| Sharks | Deal | Mark Cuban | $250k for 100% of company and a 3% royalty to Jeffrey |
Mark Cuban
Made Deal
Daymond John
Kevin O'Leary
Lori Greiner
Offered
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Coolwraps After Shark Tank
Some sources report the deal with Mark Cuban never closed. In my opinion bogus deals like this that don't close ruin the integrity of the show. That's a debate for another time.
In 2014 the Twitter, @CoolWraps https://x.com/CoolWraps https://www.facebook.com/people/CoolWraps/100071169875690, posted that it was taking pre-orders and in 2015 the Facebook Link Preview
@CoolWraps posted that it would not be on sale by Christmas 2015 but would be early in 2015. The last post was in May 2015, showing the product at a trade show. As of 2022, the website doesn't exist and appears to have closed its doors around that time.Link Preview
Facebook
Jeffrey Miller's LinkedIn https://www.linkedin.com/in/jeffreymiller-designer https://www.jeffreymiller.design shows a wealth of experience in 3D design and related jobs over the years and from 2020 to 2022 works as a freelance designer. His personal website is JeffreyMiller.Design Link Preview
LinkedIn . Fun Fact: Jeffrey has summited Mt. Kilimanjaro.Link Preview
JeffreyMiller.Design
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