FOAM Coolers offers lightweight, durable coolers made from EVA foam. They are perfect for everyday use, such as beach trips and picnics. They are convenient, practical, and affordable!
The cooler industry has long been dominated by bulky, heavy, expensive products designed for extreme outdoor adventures. These coolers are built to withstand harsh conditions, such as keeping ice frozen for up to ten days or being bear-proof. While these features serve specific purposes, they are often unnecessary for everyday consumers who need a lightweight, durable solution for casual activities like beach outings, picnics, or pool parties. That’s where FOAM Coolers come in.
FOAM Coolers, created by entrepreneurs Chad Lee and David Kittle, aims to revolutionize how consumers view coolers. Their innovative product is the world’s first lightweight, durable cooler made from EVA foam—a material known for its durability, insulation properties, and ease of cleaning. FOAM Coolers offer a practical and affordable solution for everyday use, offering a functional and user-friendly cooler.
But would this fresh approach to the cooler market resonate with the sharks on Shark Tank? Would Chad and David secure an investment to advance their business? Let’s dive deeply into the FOAM Coolers pitch, the sharks’ reactions, and how the company has grown since its appearance on the show.
Quick Overview: FOAM Coolers After Shark Tank
Chad and David entered Shark Tank Season 16 with an ask of $150,000 for 10% equity in their business. After a compelling pitch and negotiation, they struck a deal with Daymond John for $150,000 in exchange for 30% equity in the company.
Since appearing on Shark Tank, FOAM Coolers has expanded its retail presence and introduced new product lines. The company partnered with Koozie Group to enhance its distribution channels, making its products available in select Target stores. Furthermore, it launched the Gen 2 coolers in November 2024, offering new features, colors, and improved pricing to attract more customers.
| Shark | Offer |
| Daymond John | Agreed to invest $150,000 for 30% equity. |
| Kevin O’Leary | Offered $150,000 for 33.33% equity. |
| Mark Cuban | Declined to invest but praised the product. |
| Robert Herjavec | Declined to invest |
| Todd Graves | Also declined to invest. |
Key Takeaways:
- FOAM Coolers are innovative, lightweight coolers made from durable EVA foam. They are designed for everyday use, such as beach trips, picnics, and pool parties.
- The product is easy to clean, affordable, and practical compared to traditional heavy-duty coolers.
- The founders, Chad Lee and David Kittle, secured a deal on Shark Tank with Daymond John for $150,000 in exchange for 30% equity.
- FOAM Coolers partnered with Koozie Group to expand their retail presence and secured placement in select Target stores across Florida, Arizona, and California.
- The company launched Gen 2 coolers in November 2024 with new colors and improved pricing.
- The company is focused on expanding into other national retailers like REI and exploring licensing opportunities.
- With strong customer engagement and innovative marketing strategies, FOAM Coolers is poised for continued growth in the cooler industry.
FOAM coolers Networth in 2024 and 2025
As of 2024, FOAM Coolers has generated $251,000 in total revenue for the year, with additional orders committed for future sales. The company’s product is priced at $99 per unit, and they have been expanding their retail presence through major retailers like Target and Koozie Group. Their coolers cost $25 to manufacture and wholesale for around $50. Given the company’s projected growth with increased retail presence and new product offerings like the Gen 2 coolers, it is reasonable to estimate that FOAM Coolers’ net worth for 2024 could range between $2 million to $3 million, considering its expanding revenue base, investment backing, and market potential.
Looking ahead to 2025, assuming continued expansion in retail and strong consumer demand, FOAM Coolers’ net worth could grow from $5 million to $7 million. This projection accounts for increased sales through expanded partnerships, possible licensing deals, and their growing direct-to-consumer e-commerce platform. However, actual valuation could vary based on profitability, product scalability, and market competition.
Shark Tank FOAM Coolers Pitch
When Chad and David presented FOAM Coolers on Shark Tank, they were ready to disrupt an industry without significant innovation in years. Their pitch was focused on delivering a cooler explicitly designed for everyday use—not for extreme wilderness scenarios that involve long-term ice retention or rugged durability. Instead, their cooler was made of 100% EVA foam, which is lightweight, durable, and easy to clean. The coolers feature a simple, practical design that makes them perfect for casual use like beach trips, tailgating, or poolside relaxation.
The coolers also have no small crevices or nooks where dirt can accumulate, making them incredibly easy to clean. This simple but effective design allows consumers to enjoy a cooler that requires minimal upkeep and can easily handle the demands of regular use. FOAM Coolers are a convenient, affordable solution for consumers who do not need the heavy-duty features found in traditional coolers.
The company had already secured an impressive deal with Target. Through cold calling, they secured a launch in 97 Target stores. Even more remarkable is that Target placed the order without requesting a sample, which speaks to the product’s appeal and potential in a competitive retail environment. The deal was a significant milestone for the company, marking the beginning of its retail expansion.
FOAM Coolers are manufactured for $25 per unit, and the company wholesales them for around $50, depending on the sales channel. The retail price for the coolers is $99, making them an affordable and competitive option in the market. As of 2024, the company had already generated $114,000 in sales, with an additional $137,000 in committed orders, bringing its total year-to-date revenue to $251,000.
Despite the positive outlook, the company was still looking for investment to scale production, increase distribution, and improve marketing efforts. With retail opportunities on the horizon, securing an investment was crucial to meeting the growing demand for their product.
Shark Reactions to FOAM Coolers
- Lori Greiner: Although Lori saw potential in the product and admitted she would be a customer, she felt that the cooler market wasn’t the right fit for her investment expertise. She ultimately passed on the opportunity.
- Mark Cuban: Mark praised the concept behind FOAM Coolers, but he didn’t believe the risk-to-reward ratio worked in his favor. As a result, he declined to make an offer.
- Todd Graves: Todd also liked the product but thought other sharks would better fit the business. He passed on the investment opportunity.
- Kevin O’Leary: Kevin O’Leary, always known for his willingness to take risks, offered Chad and David $150,000 for a 33.33% equity stake in the company. He saw the product’s potential but wasn’t shy about the risks involved.
- Daymond John: Daymond also recognized the potential of FOAM Coolers and made a competing offer of $150,000 for 30% equity. After some negotiations, Chad and David accepted Daymond’s offer, which seemed the best fit for their business moving forward.
FOAM Coolers After Shark Tank: What’s New?
Since their appearance on Shark Tank, FOAM Coolers has made significant strides. The company has expanded its retail footprint and continued to grow its e-commerce presence. One of the most important developments has been the partnership with Koozie Group, a leader in beverage container products, which helped enhance FOAM Coolers’ distribution channels. This partnership has given them better access to retail outlets and increased their product visibility.
In November 2024, FOAM Coolers launched their Gen 2 coolers, which introduced several improvements over the original design. The Gen 2 coolers come in seven vibrant colors, including Cherry Red, Cyan Blue, and Arctic White. The new coolers are priced at $125, a slight increase over the original models, but the additional features, such as improved insulation and better durability, justify the price hike.
Additionally, FOAM Coolers has expanded its product lineup beyond coolers. The company now offers a range of accessories, including shoulder straps, sticker packs, t-shirts, and caps, all designed to complement their cooler products. These accessories help build brand loyalty and increase the average customer spend per transaction.
The company’s products are now available in select Target stores across Florida, Arizona, and California. FOAM Coolers continues to sell its products primarily through its direct-to-consumer e-commerce platform, where it can maintain better control over its branding, customer service, and marketing.
Expansion into Other Retailers
While FOAM Coolers has made strong progress in its retail efforts with Target, it is also focused on expanding into other national retailers. REI, a popular retailer for outdoor gear, is a key target for the brand. The company plans to leverage its increasing product demand and solidify partnerships with other retailers that cater to outdoor enthusiasts and families.
With the backing of Daymond John, the company is also exploring licensing opportunities to allow other manufacturers to create complementary products or variations of their foam cooler. Licensing deals could scale the business even faster, tapping into new revenue streams without taking on the risk of manufacturing additional products in-house.
Product Development: The Future of FOAM Coolers
As the market for lightweight and practical coolers grows, FOAM Coolers is focused on staying ahead of the competition. One key area of focus for the company is continuous product innovation. By listening to customer feedback and constantly improving its products, FOAM Coolers aims to stay at the forefront of the industry.
The company is working to refine its product offerings further, incorporating customer suggestions to improve the overall user experience. FOAM Coolers is particularly focused on enhancing the durability of its products and improving their cooling capabilities, which will further differentiate them from traditional coolers, which are often heavier and more cumbersome.
Marketing and Customer Engagement
FOAM Coolers’ strong marketing and customer engagement strategies heavily influence its success. The company has done an excellent job building a community of loyal customers who appreciate the coolers’ simplicity, durability, and practicality. They have cultivated a brand identity around ease of use and accessibility, catering to everyday consumers who don’t need the extreme features found in traditional coolers.
The company has leveraged social media platforms to build brand awareness, engaging with customers who share photos of their coolers in action. This organic marketing approach has helped create a loyal customer base that feels personally connected to the brand. Additionally, FOAM Coolers has used email marketing to drive repeat purchases by offering discounts and promotions to their growing subscriber list.
Conclusion: FOAM Coolers’ Bright Future
FOAM Coolers has proven that there is a market for lightweight, durable, and affordable coolers that cater to the everyday consumer. The company’s unique approach to solving the pain points of traditional coolers has resonated with both consumers and investors. Since its appearance on Shark Tank, FOAM Coolers has expanded its product lineup, increased its retail presence, and refined its marketing strategies.
With Daymond John’s investment and mentorship, FOAM Coolers is well-positioned for continued growth and success. The company is focused on building a sustainable and scalable business that addresses the needs of modern consumers who want convenience, durability, and affordability in their outdoor products.
As the cooler industry continues to evolve, FOAM Coolers will likely remain a key player in the market, offering innovative solutions that help people enjoy their leisure time to the fullest. With strong retail partnerships, a growing customer base, and a commitment to continuous improvement, the future looks incredibly bright for FOAM Coolers. Keep an eye on this company as it redefines the cooler market.
For the latest updates from Shark Tank Season 16, Episode 6, explore the links below:
Before you go, make sure to check out our list of all the Shark Tank Season 16 products.
