Liddup is the creation of Taylor Gwiazdon and Jayson Sandberg, who bring in their prototype cooler into the Shark Tank. They do not have any sales and want to pursue a licensing deal with one of the big ice cooler companies.
Liddup lights up your ice cooler
Taylor and Jayson secured three patents for Liddup covering the led lighting inside an ice cooler.
It sounds crazy, but Jayzon Sandburg came up with the idea for a lighted cooler while camping, trying to find a can of beer, and coming up with a soda. He searched for a “lighted ice cooler” and found none.
Daymond asked, why would the Sharks get into business with rude and selfish individuals like Taylor and Jayson. Who would open a cooler of beer without offering one? The guys handed out beers.
Kevin O'Leary hits hard on the Liddup valuation. Jayson answers, “We had to start somewhere?” The Sharks love the answer, as the most honest answer, not the right answer.
The key to this deal is their Patent they hold allowing LED lighting inside an ice cooler.
Liddup Episode Statistics
Entrepreneurs: Taylor Gwiazdon and Jayson Sandberg
Ask: $100,000 for 10% equity
Companies in this episode: Liddup, Echo Valley Meets, Colin Grussing, Gobie H20, Update: The Coop
Season 4 Episode 421
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 04/04/2013
Deal: Mr. Wonderful $100,000 for 33% of all royalties
What do the Shark Tank Investors say about Liddup?
- Mark Cuban tells them there is only a couple of guys that determine if you get a deal. He advises them to take Robert Herjavec's offer before he goes out. They take too long, Robert goes out, and they accept Kevin O'Leary's deal.
- Daymond John Thinks they have overvalued their business and he is out.
- Kevin O'Leary offers $100,000 for 33% of a licensing agreement, telling Taylor and Jayson he will take to Igloo. He says all roads lead to Mr. Wonderful for a licensing deal.
- Lori Greiner is interested in the Liddup cooler but is unsure of the size of the market so; she goes out.
- Robert Herjavec tells them he can get them to the largest manufacture coolers in the world(which is run by one of his best friends) offers $100,000 in exchange for 25% of the company. He will set up a meeting to get their product licensed in exchange for 25% of the Liddup company. They hesitate, and Robert Goes out. Mark Cuban warned them to take Robert's offer before he went out.
Liddup after Shark Tank
Kevin O'Leary went to Igoo after Shark Tank and negotiated a licensing deal with them and the Liddup cooler. They are all chilling out and enjoying their success.