Beer Blizzard Shark Tank Update – Net Worth 2024

This super exciting episode of Shark Tank introduced us to Beer Blizzard, a company founded by Ozzy and Mike, who are from Pittsburgh. They create a particular type of gadget that keeps your beer cold for longer.

The product is perfect, especially for hot summer days when you want to prevent your drinks from getting warm too quickly. The entrepreneurs walked into the show in Season 7, Episode 22, brought their product to sharks, and sought to get a deal.

The sharks involved were Lori Greiner, Mark Cuban, Robert Herjavec, Kevin O’Leary, and Daymond John. Let’s see if the company can close any deal with the investor. Did entrepreneurs manage to inspire the sharks? Just read this article and find out what happened. Buckle up!

Beer Blizzard Net Worth

Beer Blizzard’s net worth was $500,000 in 2016, closing the deal with Mark. However, their business went out in 2018, and products are no longer available.

Beer Blizzard Shark Tank Update

It’s a company that makes small disc-shaped products that act as little icepacks. You must freeze them and place them at the bottom of your beer can or bottle. It’s an effective way to enjoy chilled drinks, especially in warm weather during outdoor activities. The product attracts beer lovers as it provides them with a better drinking experience. It’s such an easy method to keep our beers cold, and we can savor them for a little longer.

Did Beer Blizzard get a deal on Shark Tank?

Yes, the company was successful in securing a deal with Mark Cuban. He offered $100,000 for a 25% stake, and the founders accepted it.

Shark(s) name	Offer	Demand	Counteroffer	Accepted?
Robert Harjavec	Out	N/A	N/A	No
Lori Greiner	$100,000	20% of equity stake	N/A	No
Kevin O’Leary	Out	N/A	N/A	No
Daymond John	Out	N/A	N/A	No
Mark Cuban	$100,000	25% of equity stake	N/A	Yes

Founder and Backstory 

Tom Ozzy Osborne and Mike Robb are the co-founders of Beer Blizzard. They are from Pittsburgh, Pennsylvania, and established the company there. Before making this product, they both had different careers.

Tom had experience in the food industry, and Mike had a legal background as he was a lawyer based in Pittsburgh. They collaborated and came up with the idea of making a particular cooling device. They were passionate about keeping the beer cool for a bit longer.

The mini-cooling product can be frozen again and again. They are designed to fit perfectly to the bottle’s bottom and are highly effective in keeping the bottles cool. The Beer Blizzard product gained significant popularity among enthusiasts who wanted to enjoy their cold drinks.

Pitch and Initial Presentation

The co-founders, Rob and Mike, came to the show and presented their business model. They said that they run Beer Blizzard in Pennsylvania. Among the sharks, Mark became excited after knowing this because he also belongs to Pennsylvania. They were seeking $100,000 for the equity of a 20% stake in their company.

Discussion on Pitch and Offers

After a brief introduction, they started to present their product. Warm beer sucks, and there is always a need for ice to keep them cold. It could be more convenient. So, they came up with the idea of making Beer Blizzard. They noticed that all the aluminum cans had the exact dome-shaped bottom, so they designed a small device that could be fitted under the bottom of the market’s cans, bottles, and soda drinks.

The product is reusable dome-shaped plastic, which is very convenient to use. You need to freeze it and insert it into the base. Then, they told the sharks that they had been in the business for over a year since they launched the company on Kickstarter.

To engage the investors in conversation, Mike spoke, “You Sharks love money, and the people love bees, Cold Beers!”. After describing their product, the entrepreneurs presented a sample product to each investor so they could check it out. Lori asked if they had ever tested for photos, determining how long they could keep beers cold.

Ozzy said this can keep the open drinks cold for up to 21 minutes, and without the product, drinks become warm in just 6 minutes. They even got certification for this testing from a lab in Atlanta, Georgia. Lori wanted to know if the testing was done with or without the insulator, and they said it was done with the insulator.

Kevin continued the discussion and asked about the product’s shape. “Did you patent this shape?”. Mike replied they had two patent pens. One is patent design, and the other is provision. Then Mark asked, does this work with soft drinks and they said,  yes! The founders told us about retail and that they have been selling their products online.

Robert inquired about their kick-starting campaign. They said they had a tremendous Kickstarter and raised $43,000 in 45 days in 50 states. A year later, they sold out 66,000 discs and got $135,000 in sales.

Negotiation and Final Deal

After a detailed discussion, 3 sharks were already out when it came to investing. Mark was impressed by the product and interested in making a deal. He offered $100,000 with a 25% stake equity and wanted to negotiate. However, Lori also offered $100,000 with a 20% equity stake.

The entrepreneurs considered both offers, but Mike said that he had a great crush on Mark (laughs), so they would like to make a deal with Mark. That’s how the company seals the deal on the show.

Challenges and Motivations

It wasn’t easy for the company to stand out in a market where many beverage industries had already been established. Brand awareness and attractive customers might be an excellent challenge for a developing company. Moreover, the product’s manufacturing required much research and patent design to create a successful gadget.

Despite all these hurdles, the entrepreneurs kept working hard to fulfill their desire to create an innovative drinks-cooling product. Their dedication motivated them to make this unique product. The founders of Beer Blizzard wanted to offer an effective solution for beer lovers so they could cherish the last sip of their bottle.

Product Availability

As for retail availability, when the company started its sales, the product was available on its official website. They sold out the product online and had a great business. People could get these devices in marketplaces as well. The product was accessible to the customers. Later on, the business went out after 2 years, and there’s no product available now.

To enhance the drinking experience, this product is convenient to use and a portable solution. The disc-shaped device can easily fit in the freezer. You can use it whenever and wherever you want. These innovative features are appreciable.

Conclusion

The company had an impactful journey on the show. The entrepreneurs managed to impress the sharks and successfully closed a deal. The founders may be working together with Mark to build their company.