Coffee Joulies Shark Tank Net Worth
Coffee Joulies, a company founded by Dave Jackson and Dave Petrillo, appeared on Shark Tank in 2023.
At the time of their appearance, Coffee Joulies was valued at around $3 million, and the founders had a combined net worth of $4.3 million.
Since then, their estimated net worth has increased to $5 million as a result of new investments and strategic alliances.
What is Coffee Joulies and Who founded Coffee Joulies?
Coffee Joulies are small capsules made of stainless steel that contain material capable of changing phases.
These capsules are placed in a cup of coffee to cool down overheated coffee and then slowly release the heat to maintain a consistent temperature, resulting in a consistently satisfying coffee-drinking experience with each cup.
The Joulies function by quickly absorbing heat and cooling down the coffee to a drinkable temperature of 140 degrees Fahrenheit.
Once the coffee reaches 140 degrees Fahrenheit, the Joulies gradually release heat, keeping the coffee at a steady temperature for several hours.
The creators of Coffee Joulies are Dave Pentrillo and Dave Jackson, who worked together on the product.
Dave Pentrillo earned a degree in mechanical engineering and worked as a design and development engineer at Lutron Electronics before becoming the President of Coffee Joulies in 2011, a position he still holds today. Alongside his leadership of Coffee Joulies, Pentrillo continues to work as a design engineer.
Dave Jackson, who also has a degree in mechanical engineering, graduated with Pentrillo and is a partner in Coffee Joulies while continuing to work as a mechanical engineer.
Therefore, the founders of Coffee Joulies are Dave Jackson and Dave Petrillo.
Coffee Joulies Shark Tank pitch?
David Jackson and David Petrillo, the founders of Coffee Joulies, brought their product to Shark Tank in season 4 episode 15. They asked for a $150,000 investment in exchange for a 5% stake in their business. Coffee Joulies are small capsules made of a unique polymer that can maintain coffee at 140 degrees for up to 5 hours.
The Sharks were impressed with the product and offered various deals. Eventually, the founders accepted a deal from four Sharks, including Kevin O’Leary, Lori Greiner, Robert Herjavec, and Daymond John. However, it appears that the deal made on the show never closed.
Despite this, Coffee Joulies are still available on their website and other online shops. The company’s Facebook profile hasn’t been updated since 2017, and the items are currently “sold out” on their website.
David Petrillo has been working for Peloton as a product designer since May, but both founders still represent the company as open on their LinkedIn profiles.
Joulies Net worth
Joulies valued their company at $3 million
Coffee Joulies FAQS
How do Joulies work?
Coffee Joulies absorbs the excess thermal energy from the coffee or tea through the breaking of its crystalline bonds, turning from a solid into a liquid while sealed inside the stainless steel shell.
Once the coffee or tea reaches 60°C (140°F), the process reverses.
What is inside Joulies?
Coffee Joulies are small, stainless-steel capsules containing a phase-change material; the capsules were designed to be placed in a cup of coffee in order to cool coffee that is too hot then slowly release the heat to keep the coffee warm.
How long do coffee Joulies last?
They last for five hours.
Who founded Joulies?
Inventors David Jackson and David Petrillo are the founders of Joulies.
What happened to Joulies at the Shark Tank pitch?
Kevin O’Leary, Lori Greiner, Daymond John, And Robert Herjavec made a deal of $150,000 for $6 Per Unit Royalty until $150,000 Is Repaid.
Where is Joulies located?
Joulies is located in New York, United States.
How much does Joulies cost?
Joulies cost $3.60.
