Many people enjoy cold drinks, especially on hot days. But keeping a drink cold can be hard. Often, drinks warm up quickly, which is not pleasant.
To solve this problem, two men named Scott Duff and Carlos Ortiz made a special cooler. They called it My Cold Snap. This cooler holds a can or bottle and keeps it cold while you drink. They showed their cooler on a TV show called Shark Tank in Season 4. They hoped to get money from the show’s investors, called Sharks.
The entrepreneurs entered the shark tank seeking $50,000 and a 12% royalty for 100% equity. Did the entrepreneurs get a deal on Shark Tank? Check out our My Cold Snap update to find out!
My Cold Snap Net Worth Shark Tank Update 2025
Danielle Marzarella and Glenn Novosel went on Shark Tank asking for $50,000 for 100% of their company. This meant they thought their business was worth $50,000. They did not make a deal with any Shark. The episode was aired on February 1, 2013. The hand-held drink cooler company later shut down. The current net worth of My Cold Snap is $0 in 2025.
After appearing on Shark Tank, Scott and Carlos faced challenges. They did not get a deal from the Sharks. After the show, they tried to find other investors. They talked to people who liked their product. Some of these people put money into the company. This helped My Cold Snap grow. The company’s value went up over time. As they sold more coolers, people saw that My Cold Snap had potential. This made the company worth more money.
My Cold Snap had to make more units fast. They worked hard to keep up with demand. The TV exposure helped My Cold Snap stand out from other drink coolers. People remembered seeing it on Shark Tank. This gave the brand an edge over competitors. They also made new products, like coolers for different drink sizes and designs with sports team logos. However, despite these efforts, the company eventually closed down. As of today, My Cold Snap is no longer in business.
Scott and Carlos did not get a deal on Shark Tank. They offered to sell their whole company for $50,000. They also wanted a 12% royalty, which means they would get 12% of future sales. The Sharks did not agree to this offer. They had concerns about the business and its past.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Barbara Corcoran | Out | N/A | N/A |
| Robert Herjavec | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
My Cold Snap Shark Tank pitch
Scott Duff and Carlos Ortiz are from Texas. They liked to drink cold beer, especially in the hot Texas sun. But their drinks would get warm quickly. They wanted to keep their drinks cold while they enjoyed them. This problem gave them an idea. They decided to create a product that could keep a drink cold for a longer time. They invented My Cold Snap, a handheld cooler.
It holds a can or bottle and keeps it cold while you drink. They believed many people would like this product. They thought it would be useful for anyone who enjoys cold drinks.
Scott and Carlos went on Shark Tank to show their product. They asked for $50,000. In return, they offered to give the Sharks 100% ownership of their company. They also wanted a 12% royalty from future sales. This means they would get 12% of the money from each sale. They showed how My Cold Snap works. It is a cooler that holds a can or bottle. It keeps the drink cold while you drink it.
They explained that they had sold $250,000 worth of products. But they also had 20,000 unsold units in a warehouse. They wanted the Sharks to take over the company and help sell these units. Keep reading our My Cold Snap update to see what happens next!
The Sharks had many questions.
Daymond John asked why Scott and Carlos wanted to sell the whole company. He was concerned about their commitment. Carlos said they had done the important part by creating the product. But Daymond disagreed. He said selling the product is an important part.
Kevin O’Leary asked about their past sales. He learned they had sold $250,000 worth of products. But they only made $25,000 in profit. He also found out they had 20,000 unsold units in a warehouse.
Robert Herjavec asked why they had not sold these units. He was worried about their ability to sell the product.
Barbara Corcoran asked how long it had been since their last sales. She was surprised to learn it had been eight years.
Each Shark responded to the pitch.
Daymond John was upset. He felt Scott and Carlos wanted the Sharks to do all the work. He did not make an offer.
Kevin O’Leary was concerned about the low profits and unsold units. He did not make an offer.
Robert Herjavec was worried about the long gap since their last sales. He did not make an offer.
Barbara Corcoran felt the business was inactive for too long. She did not make an offer.
Mark Cuban was not interested. He did not make an offer. In the end, none of the Sharks made a deal.
Scott and Carlos left without an agreement.
What Went Wrong With My Cold Snap On Shark Tank?
Several things went wrong. The Sharks were concerned about the long time since the last sales. Eight years is a long time for a business to be inactive. They were also worried about the low profits. Selling $250,000 worth of products but only making $25,000 in profit is not good. The 20,000 unsold units in a warehouse were also a problem. It showed they had trouble selling the product.
The Sharks felt Scott and Carlos were not committed. Wanting to sell the whole company made the Sharks question their dedication. These issues prevented them from getting a deal.
Product Availability
From our My Cold Snap update research, the product is no longer available. After appearing on Shark Tank, Scott and Carlos tried to find other investors. They talked to people who liked their product. Some of these people put money into the company. This helped My Cold Snap grow. The company’s value went up over time. As they sold more coolers, people saw that My Cold Snap had potential.
This made the company worth more money. My Cold Snap had to make more units fast. They worked hard to keep up with demand. The TV exposure helped My Cold Snap stand out from other drink coolers. People remembered seeing it on Shark Tank.
This gave the brand an edge over competitors. They also made new products, like coolers for different drink sizes and designs with sports team logos. However, despite these efforts, the company eventually closed down. As of today, My Cold Snap is no longer in business.
Conclusion
Scott Duff and Carlos Ortiz created My Cold Snap to keep drinks cold. They presented their product on Shark Tank. They hoped to sell their company for $50,000 and get a 12% royalty. The Sharks had concerns about their business. They did not make a deal. After the show, Scott and Carlos tried to find other investors. They talked to people who liked their product and were willing to invest.
For some time, the company managed to grow, as people remembered seeing My Cold Snap on Shark Tank. However, the business faced challenges in the long run. Despite efforts to improve and expand, My Cold Snap eventually shut down.
As of today, the product is no longer available, and the company has closed its operations. The main reasons for its downfall were the long gap in sales, the large number of unsold units, and the lack of a strong marketing strategy. Even though the product was useful, it could not compete with other well-established brands in the market.
The story of My Cold Snap serves as a lesson for entrepreneurs. A good product is important, but consistent effort in sales and marketing is equally necessary for success. It also shows that investors, like the Sharks, look for businesses that are active and profitable, not just great ideas. Scott and Carlos had a clever invention, but without a solid plan to sell and grow, they couldn’t turn it into a long-term success.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
