Cool Wazoo Shark Tank Net Worth 2023
Ginelle, the founder of Cool Wazoo, appeared on season 4 episode 8 of Shark Tank, a TV show where entrepreneurs pitch their business ideas to a panel of investors.
Ginelle was looking for an investment of $65,000 in exchange for a 25% ownership stake in her company. This means that she valued her company at $260,000.
During the pitch, Lori Greiner, one of the investors on the show, made an offer to invest the requested amount in exchange for a 25% ownership stake in the company.
Ginelle accepted the offer, which meant that the valuation of her company remained at $260,000, but now Lori had a 25% ownership stake in the company.
What is Cool Wazoo? Who is the founder of cool wazoo?
The Cool Wazoo is a versatile baby cover designed to serve five different functions, including as a diaper changing pad, restaurant high chair cover, supermarket cart cover, automobile shade, and bucket swing seat insert.
The brainchild of Ginelle Mills, a mother and business entrepreneur, The Cool Wazoo was launched in 2009. Prior to starting her own business, Ginelle worked as a project director at Cooper Roberts Research, where she assisted big food companies in testing new products on potential customers.
Now the Chief Executive Officer of Cheerful Child LLC, Ginelle came up with the idea for The Cool Wazoo while at a park with her daughter.
Her child had suffered a burn from a metal park swing, prompting Ginelle to search for a solution to cover the swing.
She discovered that her diaper bag was filled with various plastic coverings, such as a shopping cart cover, a highchair cover, a vehicle shade, and a changing pad.
This inspired Ginelle to create a practical and durable five-in-one product that could easily fit into a diaper bag. The Cool Wazoo is designed to help busy parents save time and money, and unlike other baby products that are only useful for a few months, it is both large and sturdy, allowing it to grow with your child.
Overall, The Cool Wazoo is intended to make parenting and child-rearing safer and more convenient.
Cool Wazoo Shark Tank Pitch
Ginelle appeared on an episode of Shark Tank during the fourth season, seeking a $65,000 investment for a 25% stake in her product, Cool Wazoo, which had a valuation of $325,000.
She explained that she needed the money to purchase inventory but revealed that she had already invested $96,000 in the company, which scared off the sharks.
When Lori asked about the number of orders, Ginelle stated that she had received approximately $14,000 in sales at that time and had earned $20,000 in the previous year, but her low sales figure was due to a lack of inventory.
Ginelle was selling each Cool Wazoo individually for $65.95, while the wholesale price was $32.50 per unit.
Mark criticized the low profit margin, and Robert was unsure if he wanted to invest. Mr. Wonderful couldn’t understand the product, and Daymond felt he had nothing to offer, so they all withdrew.
Lori was moved by Ginelle’s emotional pitch and offered her $65K for a 25% stake in the company. They hugged, and Lori promised to help lower costs and improve efficiency.
However, the deal was never completed, and Ginelle continued to sell Cool Wazoo on her website, which was redesigned following her appearance on Shark Tank.
Ginelle also licensed the product to Kids 2, which distributes it as Comfort and Harmony in Babies R Us locations.
In March 2020, she launched Box Parties, a virtual baby shower service. There have been few changes to her website or corporate Facebook page, likely due to her trade show appearances.
Cool Wazoo Net Worth
Ginelle appears on Shark Tank season 4 episode 8 in search of $65,000 for a 25% stake in Cool Wazoo. This equates to a $260,000 valuation.
On accepting an offer from Lori of $65,000 for 25% stake thus bringing valuation to be 260,000.
Cool Wazoo Competitors?
There is no competitor identified for Cool Wazoo.
Cool Wazoo Shark Tank Updates
Cool Wazoo is a 5-in-1 multipurpose baby cover that functions as a heat shield for hot car seats and swings, a big diaper changing surface, a restaurant high chair cover, and a grocery cart cover.
Ginelle Mills pitched Cool Wazoo on Shark Tank in Season 4 Episode 8, seeking $65k in exchange for 25% of her company.
After all the Sharks initially refused to invest, Lori Greiner agreed to give the desired sum in an unusual turn of events. However, the deal with Lori never closed.
After Shark Tank, Ginelle continued to sell Cool Wazoo on her website, which was re-designed after her appearance, complete with a Shopify eCommerce store.
She also started selling the product on Amazon, and sales exploded after their segment aired, which is typical of a Shark Tank appearance.
The Cool Wazoo is still available on Amazon Prime four years after being featured on Shark Tank, and Babies R Us stores also license the Ginelle company under the name “Comfort and Harmony”. The Cool Wazoo website now makes many different products such as pillows.
Cool Wazoo Shark Tank Summary:
| ITEM | DESCRIPTION |
| Product | A versatile baby cover designed to serve as a diaper changing pad, restaurant high chair cover, supermarket cart cover, automobile shade, and bucket swing seat insert |
| Founder | Ginelle Mills |
| Background | Former project director at Cooper Roberts Research, where she tested new products on potential customers |
| Shark Tank Pitch | – Sought a $65,000 investment in exchange for a 25% stake in her company |
| – Valued her company at $260,000 | |
| – Accepted an offer from Lori Greiner for the requested amount in exchange for a 25% ownership stake in the company | |
| Competitors | None identified |
| Net Worth | $260,000 (as of Ginelle’s appearance on Shark Tank) |
Cool Wazoo FAQS
What Is Cool Wazoo And How Does It Work?
Cool Wazoo is a 5-in-1 multipurpose heat-resisting changing pad that was pitched on Shark Tank in Season 4, Episode 8. It can be used as a diaper changing pad, restraint high cover, grocery cart cover, bucket swing cover, and car shade.
The founder, Ginelle Mills, invented Cool Wazoo after her daughter was burned on a hot metal swing. The product is designed to keep children away from germs and provide a safe surface for them to sit on different surfaces. The waterproof pad is flexible and can fit into any space without any bulk.
Cool Wazoo is a changing pad, high chair cover, grocery cart cover, automobile shade, and bucket swing seat insert all in one. The product is made from a material that redirects heat back to the source. Cool Wazoo is flexible so that it can fit into any shape.
Ginelle claims that corporations produce children’s products, typically large and individually constructed for one particular purpose, while Cool Wazoo is a multipurpose product.
Cool Wazoo is available for purchase on Amazon and has a star rating of 3.7 from 24 customers. The product comes in five distinctive modern styles to choose from. It is easy to clean and can be thrown into the washing machine.
Who is the Founder of Cool Wazoo?
Ginelle Mills, a mother and business entrepreneur, launched The Cool Wazoo in 2009. Ginelle worked as a project director at Cooper Roberts Research prior to founding her own firm, assisting big food businesses in testing new products on prospective clients.
What Was The Outcome Of Cool Wazoo Shark Tank Pitch?
On Shark Tank, Ginelle Mills, the founder of Cool Wazoo, asked for $65,000 in exchange for 25% equity in her business, which had a valuation of $260,000.
Lori Greiner made an offer of $65,000 for 25% equity, which Ginelle accepted.
Ginelle continued to sell Cool Wazoo on her website, which was redesigned after her appearance on Shark Tank, and sales exploded after the segment aired.
Cool Wazoo is still available on Amazon Prime, and Ginelle is licensed by Babies R Us under the name “Comfort and Harmony”. As of 2023, Cool Wazoo appears to still be in business and available for purchase.
Did Any Of The Sharks Invest In Cool Wazoo?
Yes, Lori Greiner invested in Cool Wazoo during the Shark Tank pitch. Ginelle Mills, the founder of Cool Wazoo, asked for $65,000 in exchange for 25% equity in her business, and Lori made an offer of $65,000 for 25% of the company, which Ginelle accepted.
However, the deal with Lori never closed. Despite this, Cool Wazoo is still available for purchase on Amazon Prime and is licensed under the name “Comfort and Harmony” at Babies R Us shops.
What Happened To Cool Wazoo After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Cool Wazoo continued to sell on its website and on Amazon Prime.
Ginelle Mills, the founder of Cool Wazoo, was licensed by Babies R Us under the name “Comfort and Harmony”. With Lori Greiner’s help, Ginelle was able to take the company to the next level.
The product was also redesigned after the appearance on Shark Tank, complete with a Shopify eCommerce store. As of 2023, Cool Wazoo is still available for purchase and has an estimated net worth of $1 million.
How much was he seeking in the Shark Tank Pitch?
She was asking for $65,000 for a 20% stake in Cool Wazoo.
Did get the deal from the Sharks?
Yes, she accepted an offer from Lori Greiner.
How much was the deal?
Lori offered her $65,000 for 25% stake in Cool Wazoo.
Is Cool Wazoo still business?
Four years after being featured on Shark Tank, the Cool Wazoo is still available on Amazon Prime. Ginelle is also licensed by Babies R Us under the Comfort and Harmony brand.
The company’s website now sells a variety of things; it is no longer only for infants.
When did the Cool Wazoo Start?
The Cool Wazoo was born while Ginelle was visiting a park with her kid and discovered that a metal park swing had burnt her daughter’s skin.
When was Cool Wazoo founded?
Cool Wazoo was launched in 2009.
Is Cool Wazoo a Private Limited Company?
It is a privately held business.
Where are Cool Wazoo located?
The company is based in Walnut Creek, California
Is Cool Wazoo acquired?
She licensed the product to Kids 2 in September 2015, which distributes it as Comfort and Harmony in Babies R Us locations. The license agreement’s terms were not disclosed.
Where is Ginelle Mills now?
Ginelle now serves as the Chief Executive Officer of Cheerful Child LLC.
What is the net worth of Ginelle Mills?
Ginelle Mills’s net worth is unavailable.
