Coolbox Shark Tank Update

Coolbox Shark Tank Pitch

Chris Stoikos and Jason Neubauer appeared on Shark Tank Season 7, Episode 23, which aired on April 8, 2016, with smart toolbox .

Coolbox is listed in the Software Tech category. In plain terms, the business is described as smart toolbox .

Coolbox asked the Sharks for $500,000 for 10%, implying a valuation of about $5 million.

On the show, Coolbox made a listed deal with Lori Greiner for $500,000 line of credit at 5% interest for 15% equity.

If treated as straight equity, the listed deal works out to about $3.3 million implied valuation, down from the original $5 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Coolbox After Shark Tank

Coolbox accepted Lori Greiner's on-air offer for a $500,000 line of credit at 5% interest plus 15% equity, but follow-up reporting says the deal did not close. (Coolbox Shark Tank Blog update

The company tried to move from crowdfunding traction into manufacturing and licensing, including work on a smaller toolbox version. (Coolbox Shark Tank Blog update

When a planned licensing path with a major manufacturer did not work out, the founders shut the business down in 2018. (Coolbox Shark Tank Blog update

Current follow-up sources list the original Coolbox toolbox venture as defunct, with no active official website or retail operation tied to the Shark Tank founders. (Coolbox Shark Tank Tales update

Sources

Sources used for this page: Shark Tank API pitches