My Cold Snap Shark Tank Pitch
Scott and Carlos created a product called My Cold Snap that is an ice chest that fits in your hand, keeping your can cold from the first drink until it is gone.
Sales for My Cold Snap are $250,000 and they have $20,0000 in inventory. They put the product on hold for a lengthy period of time and are now working to revive it.
The Sharks don't like businesses where the entrepreneurs want them to do all the work for them. The cup has ice built into the cup, creating an ice chest in his hands. Carlos says the important part has been done, but that would mean that you would have ongoing sales.
The company they licensed the product to ended up going bankrupt, and left them with no sales because they put the product on hold. They decided to revive it to come and pitch the Sharks. They spent $200,000 to develop their product, and received $25,0000 after the bankruptcy. The bankruptcy happened in 2004.
My Cold Snap Episode Data
- Company: My Cold Snap –Website
- Entrepreneur: Scott Duff and Carlos Ortiz
- Ask: $50,000 for 12% royalty and 100% equity
- Episode Season 4 Episode 415
- Companies in this episode:
- First Aired: 09/23/2016
- Deal: No deal
What do the Shark Tank Investors say about My Cold Snap?
- Mark Cuban – doesn't like My Cold Snap and is not interested in this deal. He is out.
- Daymond John – doesn't like the fact that these guys are giving up 100% of the company expecting him to work for them. He is out.
- Kevin O'Leary – doesn't see a path to profitability. He is out.
- Barbara Corcoran – thinks they need to put this to bed, because she is not interested in rebuilding this business for them. She is out.
- Robert Herjavec – thinks that the business has been dead for some time and should stay that way. He is out.
My Cold Snap after Shark Tank
The company is no longer in business.