Coolbox, a tech-powered toolbox, entered Shark Tank in 2016, impressing with features like built-in speakers, a power station, and USB ports.
Despite generating initial interest, Coolbox didn’t secure a deal with the Sharks but later raised over $400,000 through crowdfunding. However, the business struggled to maintain growth due to high production costs and market competition.
In 2018, Coolbox was acquired by a Canadian company, resulting in temporary product availability. Unfortunately, Coolbox is now out of business, with no recent updates or revival efforts, leaving its innovative approach as a unique but short-lived venture in the toolbox industry.
Coolbox Net Worth
| Estimated Net worth | $5 million (2016) Business Valuation |
| Annual Sales Revenue | Not available |
| Lifetime sales | Not available |
| Investor | Lori Greiner |
| Founders | Chris Stoikos and Jason Neubauer |
| Employees | Not available |
Coolbox Pitch on Shark Tank
| Company name | Coolbox |
| Product | Smart toolbox |
| Episode | Season 07 Episode 23 |
| Founders | Chris Stoikos and Jason Neubauer |
| Asked for | $500,000 for 10% equity |
| Final deal | $500,000 loan at 5% interest for 15% equity |
| Shark | Lori Greiner |
| Location | USA |
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Coolbox Founders
Coolbox was founded by Chris Stoikos and Jason Neubauer in 2011. Chris is a serial entrepreneur. Jason’s background is not in the business field. Coolbox’s founders, Chris Stoikos and Jason Neubauer has an unknown net worth as of 2024.
Key accomplishments
| Year | Accomplishment |
| 2016 | Coolbox Smart Toolbox was featured on Shark Tank. |
Conclusion
Some companies that appear on the show have not achieved great success, and the Coolbox was one of them. Sometimes businesses don’t succeed for many reasons. Sometimes, the deal falls through after the founders say yes on camera. Or, as you’ll see, sometimes things happen to the founders themselves, and they choose to abandon the business. Anything is possible. However, Coolbox went out of business in 2018. And the product is no longer available in the market.