Coldest Offer Ever? | The Coldest Shark Tank
Business Strategist, Joe Pardo reacts and gives his advice to the business The Coldest Water pitch from Shark Tank Season 15 Episode 15.
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329 Comments
they made 15 MILLION but lost 400k in revenue that’s crazy
The “Shark Tank Splash” I like it.
These guys have no personality and are not likeable at all.
Thanks for the feed back and apologies for the experience! I will look into this and see how we can improve. Best, -Joe
❤
Thank you Farmer Jeff! I appreciate you. 🙂
@@TheColdestWater Thanks for a great product. Keep up the great work.
600k investment for a 3 million royalty plus 7% equity makes no sense for a company doing 20m a year in revenue. They need someone to solve their cost of acquisition and their bookkeeping. A good cfo and marketing officer can solve that
They’ll be bankrupted soon. Go look at the hundreds of different water bottle companies. They have retail space and much more money to keep them out of the space.
They have a store in the local mall for the past 2 years. They have been around since 2020
They have a lot of competition with Stanley only costing $45
@@noahblanco677 well yeah lol
Mine cost $30 on Amazon and keeps water cold for over 24 hrs. Holds more water too. No way im spending more. These guys should have taken the deal. 100s of companies doing the same thing. These guys will be bankrupted soon.
Ive never heard of them and I watch big influencers ..hmmm
They were partnering with a lot of muk bang creators back during covid times. You’d either hear them out right promoting it or be used in the background of the video. The raid shadow legends of bottles
Joe here from COLDEST. I just was sent this video! Hope you guys enjoyed last nights episode!
The entire experience was absolutely epic whether we got a deal or not, so we are super grateful for being selected to be in the tank and have no regrets. Not all losses are losses, and not all wins, are wins.
By the way, we are not bummed or have regrets for not accepting the deal (and we don’t want you to be either) A royalty deal would be a really bad deal for the brand long term.), we would have loved to partner with Mr. Wonderful though. What ended up being cutout was the numerous back and forth exchanges to get the right deal with him but ultimately it didn’t work out.
We filmed for about 45minutes back in June 2023, a lot was said that didn’t make the 10 minute cut. The way we strategized was Dave was in charge of any questions regarding numbers, I was to take on any questions regarding brand, what makes COLDEST different, marketing etc, lol this way we wouldn’t interrupt each other. Episodes usually focus on one – brand, products, or numbers). Since they chose to focus on numbers, dave made most of the cut lol.
Since being on the tank, we have learned a LOT. Some of the hardest things of the business have been the scaling costs as the brand grew, so did warehousing, employees, marketing etc. Its a huge balancing game that we are trying our best to make work. In order to grow 20% to 30% YoY (we have zero investors), you have to do a ton of creative financing, amazon loans, factory credit, etc to purchase inventory. Everything goes back into buying MORE inventory to grow into the next year + pay the rising scaling costs to do business.
Lori was right – we have a LOT of skus and expanded fast into a lot categories. Some did very well, others did okay.
Over the next year we plan to be reducing categories and skus to focus deeper into the core of our brand and where it all began…COLDEST water bottles.
Thanks again for watching and being apart of this journey. This is just the beginning.
P.s – Yes, while we do have 1 – star reviews as you showed in this video, many companies delete their bad reviews. While we could delete them, we don’t, but it allows us to continuously improve our products over time and be honest with our community, as we do try to improve our products year over year. With that said, there are 1000’s to 10,000+ 5-star reviews on most of our products on a product by product basis, with 100,000+ five star reviews globally across amazon, & our main.
You guys are the real deal. Definitely will figure it out. Fan from Malaysia
I’ve seen their ads everywhere. They sponsored a lot of the asmr channels I watch. Idk why asmr specifically.
limited edition cups great idea! Also if you have 40$ per bottle margin, from 15million you should be making 5Mil minimum. Even if you buy 2Mil in inventory. They didn’t explain well where the money went.
seems like it’s more or less just teh 2. If you have a proper company with marketing expert, good customer service etc. this would not happen.
Great breakdown as usual! Was hoping for a perma-cold pillow too
Thank you Joseph!
I want one so bad I’m obsessed with their universal shaker but they don’t have it in the color I want a lot of their inventory is sold out it’s worth it for the 46oz the cups are triple insulated too
This brand is amazing, water bottle stays cold for the longest for me, as well as sustains less damage than other brands like my hydroflask. The only problem is that the replacement lids are never in stock for all colors, meaning that my water bottle becomes useless once the lid breaks. I own a beautiful pink bottle, but would like a new pink lid.
That is great feedback Joana! I appreciate you watching and commenting!
@@user-wm2xi2cn8s haha yeah mine is $39.99 on Amazon right now!! I love the sports water bottle the new ones look like stanleys instead of creating their own unique persona
I have the coldest water bottles and they definitely keep your water cold for a very long time definitely over a day, especially if you add ice.
I respectfully disagree with one of your points Mr Pardo. When asking for money, I don’t see how we’d want leave them wondering? Full disclosure builds trust.
We are there to give them data, facts, do a business presentation or pitch. Not entertainment. Time is money.
They had to ask if they were making a profit – and look at the answer.
Even the background music matches people’s heart sinking hearing $400,000 in debt.
Full disclosure -time is money in the business world.
Spit it out and move on please.
Leave them wanting to work with you, because you’re efficient, quick & don’t waste their time
Leave them wanting your product,
but not wanting more info
wondering about basic numbers and facts like $400,000 in debt.
I know a few people that work at that company. You want to talk about working for 2 brothers that don’t give it s*** about their employees. Well here they are. They fire people for asking questions. They treat all their employees like they are beneath them. Plus they are the only reason their company is failing right now. As you can tell from everything they said that show. It is sad how 2 people can know so little about their own business. Plus knowing that the last thing they care about is safety for their own employees tops everything.
I have one of their bottles. Bad quality control I have to return 2 bottles smfh.
I have four of their bottles various sizes. They all keep ice for days only negative thing I will say is the price way too high.