Foam Coolers Net Worth Shark Tank Update 2025

Two Foam entrepreneurs presented a novel cooler that is both portable and useful in this Shark Tank episode. They saw a problem in the cooler market and wanted to fix it.

Many coolers are large and heavy, with features like bear resistance or the ability to hold ice for days. But those features aren’t necessary for everyone. Most people are looking for a basic cooler that they can use at the park or beach. To close this gap Chad Lee and David Kittle founded Foam. 

EVA foam is used to make them cooler. This substance is strong and lightweight. It is even able to float in water. The business owners were requesting $150,000 in return for ten percent of their company. Although they were intrigued the Sharks had a lot of questions regarding the product. Will the entrepreneur get a deal on Shark Tank? Check out Foam update to find out!

Foam Coolers Net Worth Shark Tank Update 2025

Chad Lee and David Kittle asked for a $150k investment in exchange for 10% equity in Foam. This meant they valued their company at $1.5 million. They made a deal with Daymond John for $150k in exchange for 30% of their company. This new deal valued Foam at $500,000. After the show aired, Foam saw a big increase in website traffic, sales, and social media exposure. With an estimated 15% yearly growth rate (reflecting the expansion into retail and online sales), the current net worth of Foam in 2025 is about $1.27 million.

In our Foam update research, Foam saw a significant increase in attention following the episode’s broadcast. They placed a modest order for 97 Target stores when they first opened. This was a significant step for the company. The business has been expanding ever since. Foam still sells its coolers both in-person and online. They are trying to increase their clientele and diversify their product offering. The business still has a lot of room to grow. 

They have established a niche for themselves in the market with their distinctive cooler made of EVA foam. The cooler’s lightweight design and ease of cleaning are well-known. Consumers appreciate how well it works in basic outdoor environments like swimming pools and beaches.

Foam is still operating. They keep coming up with new ideas and enhancing their offerings. They want more retailers to carry their coolers. Their goal is to ensure that the product sells well in each store that sells it.

In terms of a Foam update, The Foam did not immediately land a deal. Although they were intrigued by the product the Sharks had a lot of reservations. The first person to offer was Kevin O’Leary. He made an offer of $150,000 for a third of the business. He thought there was a lot of risk but if the cooler sold well there might be a big payout. Daymond John offered as well. He made a $150,000 offer for a 30% stake in the company. 

Daymond proposed that licensing the cooler to other brands could be advantageous for the business. The offers thrilled the entrepreneurs but they needed time to make a decision. They discussed how they already collaborated with Target. They were also aware that expanding the product’s distribution might speed up their growth. Ultimately they decided on Daymond’s offer. They agreed to pay him $150,000 in exchange for 30% of the business.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Todd Graves	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	$150,000 for 33.33% equity	$150,000 for 17% equity	N/A
Daymond John	$150,000 for 30% equity	#1 $150,000 for 17% equity #2 $150,000 for 25% equity	Yes to 2nd offer
Mark Cuban	Out	N/A	N/A

Foam Coolers Shark Tank Pitch

Both David Kittle and Chad Lee had cooler industry experience prior to founding Foam. They had been employed by large corporations such as Coleman. David worked as a designer and Chad was a salesperson. They worked at Coleman when they first met.

They observed that the hard-core coolers designed for extreme outdoor activities were the main focus of the cooler industry. They understood that a lot of people only desired something basic. Something that was simple to use and lightweight. Their goal was to design a cooler that would satisfy the demands of the average person. 

They chose to create a cooler that was both long-lasting and lightweight enough to transport to the beach. EVA foam was chosen due to its light weight and ability to float. Cleaning the cooler is also made easier by the foam. There are no crevices or nooks where dirt could become lodged.

David and Chad came up with something fresh and original by applying their understanding of the cooler market. Both of them were fully committed to the company. To raise money for the project, David even locked his house. Chad quit his Walmart job. They were dedicated to the success of Foam.

Initial Pitch

David and Chad presented their product to the Sharks with confidence. They introduced their cooler as the world’s first EVA foam cooler. They explained how the cooler is made from the same material used in popular foam shoes. This material makes the cooler lightweight, durable, and able to float.

They also mentioned how the cooler is easy to clean. David and Chad made sure to highlight that their cooler was different from other coolers on the market. They wanted to focus on a cooler that was functional and affordable. They knew that many coolers were too heavy and expensive for the average person. 

Their pitch focused on the simplicity and ease of use of their product. They were asking for $150,000 for 10% of their business. They believed that the cooler would appeal to people who just wanted something easy to use for their outdoor trips. The Sharks were interested but had many questions about the product’s durability, price, and target market.

They were requesting $150,000 in exchange for 10% of their company. They thought that those who simply wanted an easy-to-use item for their outdoor excursions would find the cooler appealing. Despite their interest, the Sharks had numerous concerns regarding the product’s target market, cost, and durability.

Queries About The Product

The cooler was the subject of numerous inquiries from the Sharks. Kevin O’Leary enquired about the cooler’s insulating capabilities. He noted that the cooler was light and thin. He questioned how long it would keep things cool. According to the business owners, the cooler could accommodate 30 cans and four bottles of wine.

According to them, the material provided good insulation despite being thinner than other coolers. Mark Cuban enquired as to how they intended to explain to customers the cooler’s durability. How would the product stand out in a crowded market, he wondered? David clarified that because the cooler was made for daily use, it was unique. He said that many people didn’t need a heavy-duty cooler. 

All they wanted was something easy to use at the park or beach. Kevin enquired as to where the cooler would be sold. According to David, they intended to sell in establishments like Target in addition to beginning their business by selling directly to customers. The Sharks enquired about the cooler’s cost.

David clarified that $99 was the retail price. He claimed that it cost them $25 to make and that they sold it wholesale for about $50. The cooler’s potential in stores piqued the Sharks’ interest. They wanted to know if David and Chad had contacted any big-box stores. “They launched in Target,” David said.

They obtained a meeting with the merchant after cold calling the store. The cooler was ordered for 97 stores by the merchant because he liked it. Although they were impressed the Sharks were still wary of the risks. They were curious about how well the product would sell in retail establishments.

Shark’s Responses and Final Deal

Different reactions were given by the Sharks. Kevin O’Leary was worried about the risk even though he liked the product. He believed that significant opportunities might arise if the cooler sold well at Target. But there might be a serious issue if it didn’t sell well. He proposed to buy 33% of the business for $150,000. He thought that considering the risk this was a good deal. Daymond John praised the cooler as well but he recommended an alternative strategy. 

He believed that granting licenses to other brands would be advantageous for the company. He made a $150,000 offer for a 30% stake in the company. Using other brands he believed would help expand the cooler’s distribution and boost sales. Both offers were discussed by the entrepreneurs. They liked Daymond’s idea of licensing but they also valued Kevin’s knowledge of big-box retailers. They chose to accept Daymond’s $150,000 offer in exchange for 30% of the business. They believed that his experience would accelerate their growth.

What Went Wrong With Foam Coolers on Shark Tank?

The deal was ultimately rejected by three Sharks. Mark Cuban didn’t think the risk was worth it. He didn’t think the business was prepared for success but he liked the entrepreneurs. He felt that the company’s track record was not sufficiently established. Although she liked the product Lori Greiner wasn’t sure if she wanted to invest. 

She was concerned about the cooler’s lack of market visibility. She believed that persuading clients of its worth might be challenging.  Both Daymond John and Kevin O’Leary recognized the product’s potential. However, they approached the business in different ways. To offset the risk Kevin wanted to own a larger portion of the business. The entrepreneurs ultimately agreed to Daymond’s offer.

Product Availability

You can purchase the Foam cooler online. It is available on the business’s website. Target stores carry it as well. The product is portable and lightweight. It is ideal for outdoor activities like swimming pools and beaches because it can float on water. 

The cooler is long-lasting and easily cleaned because it is composed of EVA foam. The cooler is available for $99 at retail. Some stores also sell it for less. The goal of Foam is to increase the product’s accessibility. They want more stores and internet merchants to carry their coolers.

Conclusion

On Shark Tank Foam caused quite a stir. They received some fantastic offers after showing the Sharks their special cooler. They ultimately decided to make Daymond John their partner. The business has been expanding since the show.

They are attempting to broaden their product line after launching at Target. Foam keeps coming up with new ideas and getting better. They have a promising future and will probably experience greater success in the years to come. Watch this space for journey updates.