What Happened To Coldest Water Bottles From Shark Tank Season 15?

It might seem like bigger is better in the world of "Shark Tank." The more sales and growth a company presents to the show's panel of hungry investors, the better its chances of getting a deal, right? This seemed to be the case for Coldest, a Florida-based brand that produces premium insulated water bottles among other cold temperature products. However, the entrepreneurs would soon find out that sometimes not even the meatiest sales are enough to reel in the sharks.

Twin brother co-founders Joe and Dave Ahmad launched Coldest in 2015. While keeping solid careers in engineering, the two longed to run a successful business one day, trying and failing to maintain numerous ventures over the years. Dave got the idea for Coldest after seeing a water bottle belonging to his brother and wanting to find a way to improve it. Joe later came aboard as a co-founder and marketing director. The company took off by 2017, bringing in nearly $1 million in revenue and continuing to expand with new products including pillows and even dog beds. 

By 2023, Coldest caught the attention of the producers of "Shark Tank," resulting in its appearance on Season 15 Episode 15, the same as the similarly intriguing Psyonic Bionic Hand. The duo impressed the sharks based on their energy and outstanding traction. However, many of the sharks dropped out after noticing some gaping holes in the team's growth strategy. Kevin O'Leary made an offer, but with a tight royalty contingency attached.

Dave and Joe Ahmad displayed explosive charisma while initially presenting Coldest, even blasting cold air out of smoke machines to bring an exciting edge to the presentation. It soon became apparent what all the extra effort was for — the two were seeking a $600,000 investment for a 2% equity stake or a $30 million valuation. 

Their sales seemed to justify the ask, with Coldest going from $900,000 in revenue in 2017 to $15.1 million in 2022. The business was on track to hit $22 million by the end of 2023. However, despite these impressive figures, the company wasn't as profitable as the sharks hoped. The team lost $400,000 in 2022 after reinvesting funds back into marketing and expanding their product line. They had $2.5 million worth of inventory at the time, with products consistently selling but at a steady pace. 

The sharks brought up similar reasons for bowing out, admiring the company's traction but feeling that they were doing so at a dangerous pace and should focus on scaling back rather than constantly adding to their product line. Kevin O'Leary admitted to not initially being interested in another water bottle company — like Season 12's LARQ, which he invested in — but was intrigued upon hearing their sales figures. O'Leary offered the $600,000 for a 7% stake along with a $2.25 royalty fee until he made back $3 million. Both parties attempted to renegotiate, but with Mr. Wonderful unwilling to let go of the royalty contingency, the duo declined his deal.

It may seem shocking that Dave and Joe Ahmad rejected Kevin O'Leary's offer. However, the team didn't quite see it this way. Further discussing their choice on the Coldest website, they shared, "By the way, we are not bummed or have regrets for not accepting the deal ... A royalty deal would have been a quick fix solution, it would be a really bad deal for the brand long term ... we would have loved to partner with Mr. Wonderful though." Among other elements reportedly cut from the presentation was more information on product differentiators and details regarding their background. 

Even with these omitted sections, Coldest still got plenty out of its "Shark Tank" segment. Over 8,000 live shoppers visited the website as episode aired on February 23, 2024. Taking the sharks' criticisms to heart, Coldest made efforts to scale back its inventory by cutting back on its categories and placing greater focus on its water bottles. Following the airing, the company held a sale of its bedding material, ice packs, dog beds, and other extraneous items where buyers could get these items for 30% off before being discontinued. This helped the team reach greater levels of profitability than years past. The business still experienced new growth when the team relocated their operations to a larger warehouse facility located in Fort Myers, Florida, in late 2023.

Coldest remains up and running, with much of the brand's emphasis being placed on its water bottles. As of this writing, its 30% closeout sale of items such as can coolers, bedding, ice packs, dog beds, and select accessories is still ongoing. The team's slow-moving inventory issues brought up on "Shark Tank" seem to be persistent, made all the more perplexing since the sale has been around since February 2024 when its segment initially aired. It's likely that with as the episode continues to be viewed through re-runs and streaming, the sale will gain further traction. 

Its water bottles and remaining product line can be found on both the company's official website and on Amazon. Additionally, the company even has an app that can be downloaded on both the iOS App Store and Google Play where buyers can have access to products and discounts. A diverse array of everyday, sports, and limited edition bottles are available under the brand, coming in practically every color and pattern you can imagine. Given their premium status, Coldest's bottles are on the higher end price wise, with its products ranging in cost from $19.99 to $55.99, with most being in the $30 to $40 range. Thankfully, many of them commonly sport near-perfect average ratings on Amazon from thousands of buyers, indicating that they're well-worth the money.

Coldest certainly has some snags in its operations to work through while also dealing with the immense competition from both traditional and smart water bottle brands. However, it's easy to imagine the team working through these challenges and coming out clean on the other side. It's clear that founders Joe and Dave Ahmad have a clear vision for their brand while remaining open to altering their strategy for the good of the business, a balance that makes for the best entrepreneurs. 

However, just because Coldest is scaling back on scaling and product offerings, that doesn't mean the team isn't anticipating big things for their future. Along with the team relocating to larger warehouse facilities and even opening its first retail store in Naples, Florida, plans are in motion for something that perhaps no water bottle brand has ever attempted before — a theme park. Currently in the development stages, Coldest World is intended to be an elaborate theme park that immerses visitors into the brand's ever-expanding realm of products. Early designs shown on its website seem to indicate that the park will have an icy theme, which seems in line with the brand. With plans to unveil the gargantuan project by 2030, it's clear that Coldest still has plenty up its sleeves to stand out from the crowd, going above and beyond to deliver an experience few others can match.