What Became of FOAM Cooler After Shark Tank Season 16?

Coolers are essential for outdoor adventures, helping to keep drinks and food at the right temperature during hot weather. Over time, coolers have evolved, with many models now capable of keeping items frozen for extended periods and even resisting damage from wildlife. Some even function like portable refrigerators. However, these advanced models can be heavy and expensive, making them less ideal for casual outings or everyday use.

For those looking for a more affordable option, the choices are limited. Most budget coolers are made of hard plastic, which can be cumbersome to carry and difficult to clean. Recognizing this gap in the market, business partners Chad Lee and David Kittle developed an innovative alternative: the FOAM Cooler.

The Innovation Behind FOAM Coolers

FOAM Coolers are the first coolers made entirely from EVA foam, a material known for its lightweight and durability. This same material is used in products like Crocs. Unlike traditional hard-plastic coolers, FOAM Coolers are easy to carry, simple to clean, and even float in water. These features make them perfect for short trips to the beach, picnics, or poolside gatherings.

To bring their vision to life, Lee and Kittle needed funding and professional support. They decided to take a bold step by appearing on ABC's "Shark Tank" to secure an investment.

FOAM Coolers on "Shark Tank"

In Season 16, Episode 6, which aired in November 2024, Lee and Kittle presented their product to the Sharks. They sought $150,000 in exchange for 10% equity in FOAM Cooler. During their pitch, they demonstrated the cooler's durability by showing it could survive being run over by heavy machinery. They also revealed that they had invested $150,000 of their own money into the business and had already secured placement in 97 Target stores without sending a sample.

At the time of their appearance, FOAM Cooler had generated $114,000 in sales for 2024, with an additional $137,000 in pending commitments, bringing total revenue to $251,000. They shared plans to expand into other retailers like REI and explore licensing opportunities. However, not all Sharks were convinced. Lori Greiner appreciated the concept but felt it wasn’t for her. Mark Cuban, who was 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, while Daymond John countered with $150,000 for 30% equity. 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.

Growth After "Shark Tank"

Following their appearance on "Shark Tank," 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 new Gen2 models. The product now comes in eight color options, each retailing for $125. Accessories such as shoulder straps and sticker packs, as well as merch like caps and t-shirts, are also available for purchase.

FOAM Coolers are still available through the company’s website, and the product is now sold in some Target stores in Florida, Arizona, and California. The founders continue to explore opportunities with other major retailers and licensing partners.

The Founders’ Backgrounds

Since their appearance on the show, it’s unclear if the deal with Daymond John is already in motion. However, based on their LinkedIn profiles, both founders remain actively involved in FOAM’s operations. David Kittle serves as CEO, while Chad Lee is president.

Before founding FOAM, Kittle worked as a product designer and developed products featured on earlier seasons of "Shark Tank," including the Tushbaby carrier (Season 10) and Guardian Bikes (Season 8). Lee worked for Walmart, Target, and Costco for many years in sales and product development.

As they state on the company website, Lee and Kittle are eager to "design, develop, and distribute thoughtful, functional, and joyful products for everyone." With continued expansion and innovation, FOAM Cooler is positioned to become a leading name in the cooler industry.