Austin Maxwell and Teddy Giard Logan Lamance, who were college friends, founded Kanga Coolers. They made a pitch for their distinctive beverage coolers on Shark Tank during Season 10. They sell a soft insulated bag that can keep beverages cold for up to seven hours without the need for ice. The group requested $100,000 in return for 10% of their business.
They had only been operating for six months when they made their pitch. The product’s inventiveness and the success of their initial sales impressed the sharks. Will the entrepreneur get a deal on Shark Tank? Check out Kanga’s update to find out!
Kanga Net Worth Shark Tank Update 2025
Austin Maxwell, Teddy Giard, and Logan Lamance asked for a $100,000 investment in exchange for 10% equity in their company. This meant they valued their company at $1 million. They made a deal with Mark Cuban for $100,000 in exchange for 20% of their company. This new deal valued their company at $500,000. After the show aired, Kanga saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Kanga is about $805,000.
In our Kanga update research, Kanga Coolers’ rapid growth continued after Shark Tank. The company’s customers grew as it became more well-known. The company’s yearly sales are projected to reach $3 million by 2024. This is a significant increase over their initial figures. Kanga has gained recognition for its creative products and effective advertising.
The company’s growth has also been aided by the partnership with Mark Cuban. They have entered new markets and enhanced their range of products. Today Kanga is still operating and doing very well.
In terms of a Kanga update, Kanga did indeed land a Shark Tank deal. They were requesting $100,000 in exchange for 10% of the business. They received a $100,000 offer from Mark Cuban for 20% of the business. The deal was quickly accepted by the founders. Securing the investment made them happy. They grew more quickly thanks to this deal. They received the assistance they required to grow their company from Mark Cuban. They achieved new heights thanks to his offer. Kanga has performed well since the deal.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Barbara Corcoran | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | $100,000 for 20% equity | N/A | Yes |
| Lori Greiner | Out | N/A | N/A |
Kanga Shark Tank pitch
Austin Maxwell, Teddy Giard, and Logan Lamance founded Kanga. While they were in college, they had the idea for Kanga. Their goal was to design a cooler that didn’t need ice. They noticed that the majority of coolers were large and heavy. They were looking for something that was portable. They also wanted a cooler that didn’t use ice to keep drinks cold. The company’s founders had numerous obstacles to overcome.
They needed to create a product that was effective. They needed to come up with a way to sell it. Making a business work was another thing they had to learn. They had no prior startup business experience. However, they kept going.
They raised funds through Kickstarter. Thanks to the campaign, they were able to secure the necessary funding. They shared the word via social media as well. They began making sales as a result of their diligent efforts. They made improvements to their product over time. They were aware of the potential of their idea. They continued because they were passionate about creating excellent products.
On Shark Tank, Austin, Logan, and Teddy gave an introduction of themselves and their product. They displayed their cooler to the sharks. Drinks could stay cold in the cooler for up to seven hours without requiring ice. The founders described the process by which they developed the concept. They were looking for a better portable cooler than the ones that were on the market.
The sharks were informed that Kanga had only been operating for six months. They had sold more than $100,000 during that period. They also discussed how they were able to finance their business through their Kickstarter campaign. The founders talked about their ambitious plans to expand the business. They were looking for $100,000 in exchange for 10% of the business.
The first shark to express interest was Mark Cuban. He made an offer after posing questions. He made a $100,000 offer with 20% equity. The founders immediately accepted the agreement. Getting Mark Cuban on board thrilled them. Mark acted so fast that the other sharks were unable to make an offer. The funding and support that Kanga needed to grow were made possible by this agreement.
The Kanga cooler was the subject of numerous inquiries from the sharks. They wanted to know how the business was going and how the product operated. The sharks wanted to know how much money Kanga was making and how many sales it was producing. In just six months, the founders reported generating $100,000 in gross income. Additionally, they had raised funds and spread the news through a Kickstarter effort.
The sharks wanted to know how Kanga intended to expand its company. They wanted to determine if large retail establishments could sell the goods. According to the creators they had a strong social media presence and were primarily focused on internet sales. The sharks also enquired about the company’s long-term revenue projections.
The founders expressed their confidence that their product would be adored by consumers. They thought the coolers would keep selling well. The cost of the goods intrigued the sharks. The coolers cost between fifty and sixty dollars. This price point enabled the business to earn a healthy profit. They sold directly to customers online and kept production expenses low, the founders stated.
The sharks also wanted to know how Kanga was managing the competition. According to the founders, their main goal was to develop a distinctive product. They felt their cooler offered something that others didn’t, thus they were not concerned about rivals.
The sharks had different reactions. A few sharks expressed interest in the product but expressed reservations. They wondered how quickly the company could expand. They enquired about the business’s marketing plan as well. The business owners clarified that they were raising awareness on social media. They also stated how solid their clientele was. But the sharks were still apprehensive.
They wanted to test if Kanga could expand quickly and manage big orders. The product piqued Mark Cuban’s curiosity the most. He enjoyed the crew and the idea. He promptly offered $100,000 in exchange for 20% of the business. The founders accepted Mark’s offer without hesitation. They were aware that gaining Mark Cuban’s backing would aid in their development.
Mark was eager to collaborate with the group and support them as they expanded their company. Mark was so fast that the other sharks were unable to make an offer. Securing a deal with Mark Cuban pleased the founders. Through this agreement, Kanga was able to obtain the money and assistance they required.
What Went Wrong With Kanga on Shark Tank?
On Shark Tank, there were no significant issues with Kanga. The founders had to give up more equity than they had originally desired but that was the only problem. In the end, they gave up 20% equity instead of the $100,000 they had requested for 10% equity. The founders had to make this difficult choice. But they knew it was worth it to get a contract with Mark Cuban.
They would develop with the support and guidance of Mark Cuban. The founders were pleased with this deal despite giving up more stake. They thought that having Mark Cuban’s backing would enable them to grow their company.
Product Availability
It is possible to buy Kanga’s coolers online. They are available for purchase on their website. The coolers range in price from $50 to $60. Without ice, they are intended to keep beverages cold for up to seven hours. The coolers are lightweight and convenient to transport. High-quality materials are used in their construction to guarantee their longevity. They come in a variety of sizes and colors.
Cooler bags are among the other items that Kanga sells. The business has concentrated on building a solid online presence. Social media is another tool they use to connect with clients. You can purchase Kanga’s goods via their website. They are offered for sale by other internet merchants as well. The business has kept growing and adding new products to its lineup.
Conclusion
Since its Shark Tank debut, Kanga has advanced significantly. The business has expanded quickly and now generates $3 million in sales annually. The founders are pleased with their current state of development. They are still putting in a lot of effort to expand their company. They have been able to advance their business thanks to the agreement with Mark Cuban.
They intend to continue developing and growing in the future. Kanga is a prime example of how hard work and a smart idea can pay off. The business anticipates even greater expansion and prosperity in the years to come.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
