Chill Systems, the innovative beverage cooler company that appeared on Shark Tank, has had an exciting journey since its pitch to the sharks. Founded by Chase Mitchell and Brian Bloch, Chill Systems presented a unique, eco-friendly solution for keeping drinks cold on the go.
While they didn’t secure a deal in the tank, the exposure helped drive sales and growth for the young company. However, Chill Systems has faced its fair share of challenges. Let’s deeply dive into this Shark Tank alum’s net worth, operations, and future.
Who is Chill Systems?
Chill Systems designs and manufactures portable, ice-free beverage coolers. Their flagship product, simply called “The Chiller,” utilizes freezable gel inserts to keep drinks cold for hours without the need for traditional ice.
The compact and lightweight design makes The Chiller easy to transport to beaches, picnics, tailgates, and other outdoor activities. By eliminating the hassle of lugging around heavy coolers and buying bags of ice, Chill Systems aimed to provide consumers with a more convenient and eco-friendly way to enjoy chilled beverages.
Who Is The Founder Of Chill Systems?
Chase Mitchell and Brian Bloch co-founded Chill Systems. Prior to starting the company, Mitchell worked at Google, while Bloch was employed by Apple. The two entrepreneurs came together to create a better solution for mobile beverage cooling, driven by a passion for the outdoors and a desire to reduce waste from single-use plastics.
| Key Points | Details |
|---|---|
| Product Description | Lightweight, ice-free drink carrier that keeps up to three drinks cold; can also chill a bottle of wine or champagne. |
| Freezing Method | Internal freezing gel; no need for ice; requires freezing the carrier for 24 hours before use. |
| Founders’ Background | Chase Mitchell (former Google employee) and Brian Bloch (former Apple employee) left corporate jobs to pursue entrepreneurial dreams. |
| Sales Figures | Sold $111,000 worth of Chill Systems in over two years, with $50,000 raised from Kickstarter. |
| Cost and Pricing Strategy | Initially cost $37 to produce but sold at $30, later reduced production cost to $18. |
| Environmental Focus | Designed to eliminate plastic waste from bagged ice; made from recycled materials. |
| Business Outcome | The company went out of business sometime between 2021 and 2022; the last social media post was in 2021; the website is no longer active. |
How Was The Shark Tank Pitch Chill Systems?
Chill Systems appeared on Shark Tank during Season 12, seeking a $150,000 investment in exchange for 15% equity in the company. The founders presented their innovative product and pitch to the panel of sharks, including Mark Cuban, Kevin O’Leary, Barbara Corcoran, Lori Greiner, and guest shark Daniel Lubetzky.
However, the sharks were not convinced that Chill Systems had a sustainable business model, citing concerns over the company’s high manufacturing costs and slim profit margins. Ultimately, the entrepreneurs left the tank without securing a deal.
| Shark | Result |
|---|---|
| Mark Cuban | No Offer |
| Kevin O’Leary | No Offer |
| Barbara Corcoran | No Offer |
| Lori Greiner | No Offer |
| Daniel Lubetzky | No Offer |
Chill Systems Shark Tank Update:
Despite not landing an investment in Shark Tank, Chill Systems continued to operate for several more years following its appearance. The company leveraged the show’s exposure to boost online sales and expand its product line. However, Chill Systems ultimately fell victim to the challenges of running a hardware startup and the business shuttered sometime between 2021 and 2022.
What Happened To Chill Systems After Shark Tank?
After their unsuccessful Shark Tank pitch, Chill Systems soldiered on, working to improve their manufacturing processes and increase profitability. The founders continued to market the brand and expand their product offerings, including insulated bags and more excellent totes.
However, it appears the company was unable to overcome the financial obstacles outlined by the sharks, and Chill Systems eventually ceased operations. By 2021, the company’s social media presence had faded away, and its website was no longer active, indicating the business had closed down.
Chill Systems Net Worth:
Given the lack of available financial information and the company’s demise, it isn’t easy to pinpoint Chill Systems’ exact net worth. As a young, hardware-focused startup, the company likely struggled to achieve profitability and scale, contributing to its downfall. While the founders may have had grand visions for Chill Systems, the realities of the market and operational challenges proved too much for the business to overcome.
Chill Systems Growth and Operations:
In the years following their Shark Tank appearance, Chill Systems worked to improve its operations and drive growth. The company invested in optimizing its manufacturing processes to lower the per-unit cost of The Chiller, which was a key concern raised by the sharks. Chill Systems also expanded its product lineup to include insulated bags and more excellent totes to complement the core beverage chiller. However, details on the company’s specific sales figures, distribution channels, and overall growth trajectory remain limited.
Chill Systems Marketing and Sales:
Chill Systems utilized a multi-pronged marketing approach to promote its products and brand. The company maintained an active presence on social media platforms like Facebook and Instagram, engaging with customers and showcasing The Chiller’s versatility.
Chill Systems also leveraged online sales channels, including its e-commerce website and partnerships with platforms like Amazon. While the specific sales numbers are unknown, the company’s ability to generate over $100,000 in revenue before Shark Tank suggests they had found some success in reaching consumers.
Chill Systems Social Media Presence:
Chill Systems maintained an active social media presence, particularly on Facebook and Instagram, to connect with customers and showcase its products. The company used these platforms to share product updates, user testimonials, and content highlighting the various applications of The Chiller. However, Chill Systems’ social media activity tapered off in 2021, coinciding with the apparent closure of the business.
Chill Systems Interesting Facts:
- Chill Systems was founded by two former tech employees, Chase Mitchell from Google and Brian Bloch from Apple.
- The company’s mission was to provide an eco-friendly alternative to traditional coolers by eliminating the need for single-use ice.
- Chill Systems raised over $50,000 through a successful Kickstarter campaign before appearing on Shark Tank.
- Although the company did not secure a deal on Shark Tank, the exposure helped drive additional sales and growth.
- Chill Systems aimed to donate a portion of each sale to support clean water initiatives worldwide.
What’s Next For Chill Systems?
Unfortunately, the future of Chill Systems remains uncertain, as the company has ceased operations and its founders have moved on to new ventures. Despite the initial promise of their innovative beverage cooler product, the inability to achieve profitability and scale the business ultimately led to the company’s demise.
While the Chill Systems story serves as a cautionary tale for hardware startups, the founders’ entrepreneurial spirit and commitment to sustainability may yet lead them to new, successful endeavors.
Final Words:
Chill Systems’ journey on Shark Tank and beyond highlights the challenges faced by hardware-focused startups seeking to disrupt established industries. While the founders’ vision for an eco-friendly, portable beverage cooler resonated with consumers, the company could not overcome the financial obstacles that plagued its business model.
The Chill Systems story reminds us that even innovative products and passionate entrepreneurs can struggle to turn their ideas into thriving, sustainable enterprises. However, the lessons learned and the founders’ perseverance may lead to new, exciting opportunities in the future.
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