What Happened To FOAM Cooler From Shark Tank Season 16?

Coolers are one of the essentials when experiencing the great outdoors. They keep water and refreshments cool and retard spoilage of food items during outings on hot weather days. Coolers have become more sophisticated through the years, with many models now designed to keep things frozen for long periods and even withstand wild animal attacks. There are even some that function like portable refrigerators, like these five electric coolers we recommended for camping trips. Makita's Smart Cooler has four cooling and two warming settings, as well as an LCD panel. However, feature-rich coolers like these have become heavy and expensive.

For people who are looking for inexpensive coolers for everyday use or casual outings, the options are somewhat limited. Also, most products designed for this purpose are made of hard plastic. Recognizing a gap in the market, business partners Chad Lee and David Kittle developed a practical and affordable alternative to other available coolers.

FOAM coolers are the world's first cooler made entirely from EVA foam, a lightweight yet durable material that is also used to make Crocs footwear.Unlike conventional hard plastic cooling containers, FOAM coolers are easy to carry, effortless to clean, and even float in water. These features make them ideal for short beach trips, picnics, and poolside gatherings. Chad and David needed funding and professional support to disrupt the cooler industry, and took a shot at securing an investment by appearing on ABC's "Shark Tank."

Armed with their desire to scale production and boost their company's retail presence, Lee and Kittle stepped into the "Shark Tank" on Season 16, Episode 6, which aired in November of 2024. They sought $150,000 in exchange for 10% equity in FOAM Cooler. During their presentation, they demonstrated their cooler's durability by showing it can survive being run over by heavy machinery. They then revealed that they had invested $150,000 of their own money into the business and had already secured placement in 97 Target stores without even sending a sample.

By the time of their "Shark Tank" appearance, FOAM Cooler had generated $114,000 in sales for 2024, with an additional $137,000 in pending commitments bringing their total revenue to $251,000. They shared plans to expand into other retailers like REI and explore licensing opportunities. However, some Sharks were skeptical. Lori Greiner appreciated the concept but felt it wasn't for her. Mark Cuban, who is leaving the show after Season 16, liked the product but didn't see a favorable outcome. Guest Shark Todd Graves stated it wasn't in his area of expertise.

Kevin O'Leary offered $150,000 for 33.3% equity, seeking a high stake as a reflection of the business risk involved. Daymond John countered with $150,000 for 30% equity, believing FOAM Cooler could explore licensing deals. The co-founders made a counter-offer of 17% equity, but the Sharks declined. They then tried to entice John with 25%, but he remained firm at 30%. Ultimately, they left the tank with John's offer.

Following its "Shark Tank" Season 16 appearance, FOAM Cooler experienced a significant boost in visibility and business growth. The company partnered with Koozie Group to strengthen its retail presence and expanded its product lineup to include a handful of new Gen2 models. The product now comes in seven color options, each retailing for $108.95. The company also sells accessories such as shoulder straps and sticker packs, as well as merch like caps and t-shirts. You can also buy a FOAM cooler on Amazon in your choice of five colors for $99.

While FOAM coolers also remain available for purchase through the company's website, Lee and Kittle have also expanded their product's presence in some Target stores in Florida, Arizona, and California. With aspirations to further widen their retail distribution across the country, the business partners continue to explore opportunities with other major retailers and licensing partners.

Since it hasn't been that long since they appeared on the show, it's not clear if the deal they secured with John is already in motion. What's known for now, based on their LinkedIn profiles, is that both founders are actively involved in FOAM's operations, with Kittle serving as CEO and Lee as president. Before FOAM, Kittle worked as a product designer and even developed products that were featured in the earlier seasons of the show, including the Tushbaby carrier (Season 10) and Guardian Bikes (Season 8). Meanwhile, Lee worked for Walmart, Target, and Costco for many years in sales and product development. As they state on the company website, they are eager "to design, develop, and distribute thoughtful, functional, and joyful products for everyone!"